The alliance will enable third parties to build and launch deposit products both physically or virtually. Credit: mastersenaiper from Pixabay.

i2c has teamed up with Fintech as a Service (FaaS) platform Solid to offer companies with enhanced access to banking, payments, and card services.

The alliance will enable third parties to build and launch deposit products, including business and consumer checking accounts. Additionally, they can instantly issue virtual and physical debit, credit, and prepaid cards.

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The combined platform and software capabilities will also enable the firms to process transactions in real time.

Commenting on the partnership, i2c Fintech Business Development vice-president Sarah Flood said: “i2c and Solid are aligned in our belief that the future of financial services lies in unlocking its complexity for fintechs of all sizes to offer embedded payments solutions at the quickest time to market.”

Solid president Raghav Lal added: “We chose i2c as our issuing-processing partner because of their global reputation of unparalleled reliability, security, and decades of experience within the payments industry.

“Solid is working to reimagine partnership and access to fintech services, and i2c is an integral partner in making our FaaS vision come to life.”

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Based in California, the US, i2c focuses on providing payment and banking solutions. Recently, i2c partnered with Visa to provide buy now pay later capabilities at the point of sale for participating issuers in North America.

Last November, the firm partnered with fintech firm Purewrist to enable contactless payments on wearables.