Legend Bank Announces Partnership with Infinant for Their Fintech Partner Banking Division

DECEMBER 3/BOWIE, TX: Legend Bank, a community bank serving North Texans for over 134 years, is pleased to announce their partnership with Infinant, a banking platform provider focused on the community and regional bank market for their newly launched Fintech Partner Banking division.

Legend Bank is advancing a growth strategy that includes expanding from a geographic to digital footprint while diversifying their deposit gathering through new distribution channels associated with their embedded finance initiatives.

In 2023, the bank officially began its journey to craft an impactful embedded finance strategy to drive scalable innovation at the bank. The bank selected Infinant’s Interlace platform to power their embedded finance programs after evaluating various fintech partner banking and modern core providers.

While many banks have relied on monolithic core systems through slow and complex integrations or outsourced their ledger to fintech partner banking providers, Infinant flips the model, giving banks the ability to control their programs and maintain existing regulatory and compliance controls.  This unites banks, fintech and regulators in a new wave of program management to start or scale their embedded finance business models.

"Infinant's deep experience in banking technology and their advanced platform tailored to bankers were key factors in our decision to select them as our partner," said John Michael Davis, who leads Fintech Partnerships. Additionally, according to Chris Hurcomb, Fintech Operations Manager, “The Interlace platform is flexible and adaptive to a wide variety of business models, yet also minimizes the technical burden upon us as a bank.”

Another key reason that Legend Bank chose Infinant was due to its truly direct model which it focused on from the beginning. “Complete ownership and visibility of program management is fundamental to how we see fintech partner banking being performed well,” remarked Kristy Johnson, AVP, Fintech Compliance Lead. Further expanding upon that, Santana Gilreath, SVP, Sr. Risk Management, Compliance & CRA Officer stated: “By allowing the bank to fully perform and provide oversight of regulatory and compliance controls, it sets both the bank and our fintech partners up for long-term success. It was a perfect fit for our culture and strategy.”

Legend Bank joins the growing list of community and regional banks that have leap-frogged over the first wave of fintech partner banking providers.  The Interlace platform allows banks to pivot away from outsourcing bank controls to fintech partner banking providers and bringing them under bank control.  Riaz Syed, CEO and Founder of Infinant noted, "Being able to partner with Legend Bank provides a tremendous opportunity for Infinant to collaborate with those leading the industry and to advance our platform."

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About Infinant

Charlotte, N.C.-based Infinant provides the growth platform for financial institutions to power their digital and embedded banking channels without core replacement. Infinant differentiates by giving banks the ability to launch multiple channels, with accounts, payments and card, on a single platform under bank-control to satisfy regulators.  Infinant creates new value propositions for financial institutions to act and advance their market.  To learn more about staying above-the-core, visit www.infinant.com.