The Article Tells The Story of:
- Funding Mystery: Infinant raises $15 million, suggesting major shifts in cloud banking.
- Platform Potential: Interlace may transform digital banking, sparking curiosity about its impact.
- Evolving Market: Rising interest in embedded finance raises questions about bank adaptations.
- Anticipated Change: Financial sector waits in suspense for Infinant’s next move.
Funding Boost for Infinant’s Expansion For Advance Cloud Banking
Infinant has successfully raised $15 million in a Series A funding round aimed at expanding its cloud-based banking platform. The company plans to use this capital to improve its product offerings, ensure regulatory compliance, and assist banks in scaling new financial solutions. This information was released in a December 23 announcement.
Check Out similar Article of Global IT Systems Disrupted by Faulty CrowdStrike Update: A Detailed Analysis Published on July 19, 2024 – SquaredTech
Empowering Banks with Interlace
Infinant’s platform, Interlace, empowers banks to independently launch and scale digital and embedded programs. Each bank using Interlace maintains operational and regulatory control over its programs, including ledger management, operations, and compliance. This setup enables financial institutions to diversify deposit gathering and payment channels, thereby promoting significant growth, according to Infinant CEO Riaz Syed.
The company collaborates with banks to introduce digital banking to niche markets, integrate financial products into business verticals, and expand relationships with merchants and independent sales organizations (ISOs). Moreover, Infinant aids banks in delivering new products to small and medium-sized businesses (SMB) and commercial clients via sub-accounting and scaling banking-as-a-service (SaaS) programs.
Check Out similar Article of Global IT Systems Disrupted by Faulty CrowdStrike Update: A Detailed Analysis Published on July 19, 2024 – SquaredTech
Investment Insights and Market Trends of Cloud Banking
John Philpott, a partner at Fintop Capital and member of Jam Fintop Banktech’s investment committee, commented on the funding round. Philpott highlighted that Infinant allows banks to scale their programs while aligning with necessary regulatory conditions.
A recent collaboration between PYMNTS Intelligence and Fiserv delved into how embedded finance is driving innovation in the retail sector. The report revealed a strong trend towards adopting embedded finance, with 58% of retail marketplaces planning to offer such products. Meanwhile, 60% of payment facilitators (PayFacs) aim to expand loyalty rewards, and 86% of independent software vendors (ISVs) are focusing on enhancing digital wallet payment acceptance.
This focus on embedded finance indicates a notable shift in market strategies and confirms the growth potential for business models integrating banking-as-a-service. As more financial servicbanks in navigating the rapidly evolving financial landscape.es become integrated into various platforms, the need for comprehensive oversight by banks of customer accounts and ledgers grows increasingly vital.
Infinant’s new funding and strategic initiatives in cloud banking underscore the company’s commitment to driving innovation and supporting
Check Out similar Article of Banking Revolution? Elon Musk Aims for X to Handle All Your Finances by 2024 Published on November 4, 2024 – SquaredTech
Stay Updated: Tech News
