Evolve Bank and Trust, Bond to Provide Banking-as-a-Service (BaaS) Solutions

Evolve Bank & Trust and Bond Financial Technologies, Inc. are pushing the boundaries of embedded finance “to bring innovation to companies that want to offer financial products to their customers.”

Evolve and Bond enable entrepreneurs “to build and launch innovative financial solutions at scale.”

Hank Word, President of Evolve’s Open Banking division, stated:

“As a leading fintech sponsor bank, Evolve is excited by the capabilities Bond brings to our partnership. Bond’s architecture and product roadmap is built for scalability, which allows the large brands they are partnering with to fold seamlessly into Evolve. We are deeply committed to continue building the fintech ecosystem through this uniquely beneficial partnership.”

By adding Evolve to its growing ecosystem of bank partners, Bond will “offer new capabilities in both debit and credit cards for businesses and consumers alike.”

As part of Bond Treasury, some of the innovative products Bond has built “include no-fee instant payouts for SaaS companies and expense management cards for businesses.”

Bond’s unique consumer solutions “include a credit builder card and crypto-backed credit card.”

Roy Ng, co-founder and CEO of Bond, said:

“Bond and our customers benefit from Evolve’s tech-forward approach to financial services. We are excited to partner with Evolve as we continue to execute on our go-to-market strategy. As one of the earliest sponsor banks to adopt a fintech-first model, we are already benefiting from Evolve’s experiences and insights.”

Bond and Evolve will share “a stage at the American Banker Payments Forum on May 18, where Mr. Ng and Scot Lenoir, Chairman of Evolve Bank & Trust, will discuss how fintechs and banks can pave the way for the rapidly evolving fintech landscape.”

As noted in the update, Evolve Bank & Trust, “a leading financial and technology institution and Banking-as-a-Service (‘BaaS’) provider, is a best-in-class financial services organization offering specialized services in Open Banking and Payments.”

Evolve is “recognized as a global leader in the Payment Processing Industry delivering ACH, Debit/Credit Sponsorship, Card Issuance and unique technology strategies to clients around the world.”

Evolve has “been voted a Top Workplace eight years in a row and has been named in Inc. Magazine’s 5000 List of the fastest growing companies.”

Bond claims to be “the leading embedded finance company that enables organizations from any industry to create personalized financial experiences for their customers.”

Bond’s modern, enterprise-grade developer platform “orchestrates the critical infrastructure that companies need to build, launch, and scale these personalized financial products.”

Bond was “founded in 2019 by industry veterans from Twilio, SoFi, SAP, Goldman Sachs, and Blackrock, with deep roots in enterprise software, technology, and financial services.”

The company has “raised $42M to date from investors including Canaan, Coatue, Goldman Sachs, and Mastercard, and maintains key offices in San Francisco (HQ), New York City, and Salt Lake City.”

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