Nicole Lorch
First Internet Bank |
President and Chief operating Officer
FIRST INTERNET BANK Collaborates WITH FINTECHS AND OTHER FORWARD-THINKING ENTREPRENEURS TO BROADEN THE AVAILABILITY OF INNOVATIVE FINANCIAL PRODUCTS AND SERVICES.
Fintech startups and forward-thinking, non-bank companies continue to explore new ways to expand their services. The opportunity to connect with customers through branded financial products - such as debit and credit cards, real-time payment services, mobile bank accounts and more—helps build brand affinity at a time when consumers are increasingly comfortable adapting to new technologies. By providing foundational banking infrastructure, First Internet Bank supports the phenomenal innovation fintech founders are bringing to market—and expand to new markets.
Mid-2021, First Internet Bank teamed up with ApplePie Capital, a company that sources and originates franchisee lending opportunities on a nationwide basis. As the first online lender focused on the franchise industry, ApplePie is a leading provider of innovative growth financing for franchisees. This partnership helped our recently formed franchise business to over $80 million in loans last year, with plans to originate another $150 million in 2022.
We recently announced a partnership with Synctera - a leading consultancy, banking technology platform and matchmaker for bank and fintech partnerships - to provide an additional link to clients by seamlessly engaging them with our banking capabilities. “Synctera provides us with a BaaS tech stack that allows us to more efficiently provide key services, along with a central place to manage these partnerships,” said Nicole Lorch, First Internet Bank’s President and Chief Operating Officer. “They are purpose-built to onboard fintechs and utilize a common application programming interface (API), so that fintechs can access the different services that we offer.”
Expansion of our BaaS capabilities demonstrates First Internet Bank’s commitment to entrepreneurial ventures. Best of all, we better position ourselves by delivering a wider variety of financial services to small business owners while simultaneously expanding opportunities to deliver noninterest recurring revenues for our shareholders.
