First National Bank of Omaha in Nebraska has formed a business to offer credit card services to fintechs and other startups.
The $27.2 billion-asset bank said in a press release that Bend by FNBO will offer customized credit card issuance to clients. The business is being marketed as a credit card-as-a-service (CaaS) platform.
Bend offers an embedded model of open API services for credit cards through a network of strategic partnerships. The platform uses Marqeta’s open APIs and self-service dashboard.
“In today’s digital world, everything requires flexibility and agility,” Marc Butterfield, head of Bend by FNBO, said in the release.
“Macro trends like banking-as-a-service and open banking are transforming how digital brands deliver financial products and services to their customers,” Butterfield added. “We’re proud to be one of the first banks to offer modular, embedded credit card solutions to serve the dynamic market.”