US-based digital payment and banking technology provider i2c has inked a series of credit card processing partnerships and announced credit product launches.
i2c has partnered with Australian fintech Archa, Credit Sesame, and the Community Bank of the Chesapeake (CBTC).
The collaborations represent how new issuing-processing platforms make the credit cards market fair for various innovators globally.
The use cases span key attributes including the ease of assembling product features, speed-to-market, addressing specific opportunities and more, the company said.
i2c founder and CEO Amir Wain said: “For years, banks and new entrants have struggled to innovate in the credit space with legacy platforms and to find partners willing and capable of bringing their ideas to life. That is all changed now.”
In Australia, banks do not usually underwrite corporate credit cards for small businesses (SMBs). The fintech firm Archa aims to address this gap.
Its neo-banking corporate credit platform offers instant credit on a functional card platform to SMBs.
Archa CEO Oliver Kidd said: “Building our corporate card platform from scratch, we wanted a flexible solution that would meet several bespoke needs, without needing to use multiple vendors.
“i2c solved that for us in that we immediately gained a payments partner with deep experience, integrations and partnerships like with Mastercard, plus proven speed to market.”
CBTC, on the other hand, created a credit programme for its clients in Southern Maryland and Fredericksburg city in Virginia, US.
CBTC president Jimmy Burke said: “Partnering with i2c lets us capitalise on what we have, allowing us to compete and provide a best-in-class, highly-relevant experience that simply was not accessible just a few years ago.”
Credit Sesame uses artificial intelligence (AI) and machine learning to guide consumers to financial freedom.
The credit wellness platform was aiming to bring its digital banking business to the market through a partner and expand its reach across various geographies.
Credit Sesame general manager of global banking Miro Pavletic said: “i2c’s platform, with its powerful API layer and card account lifecycle management capabilities, allows us to quickly bring new products and services that push the boundaries of financial wellness innovation and bring it to life, across the world.”
