Lithic, a card issuer processing platform, this week announced a partnership with Stearns Bank, a Minnesota-headquartered financial services institution with more than a century of experience and customers nationwide. This collaboration expands Lithic’s enterprise-grade card program capabilities, enabling fintechs to launch consumer and commercial card programs with trusted infrastructure. Stearns Bank will serve as BIN sponsor across major payment networks for Lithic’s program-managed services.
“Stearns Bank’s vision of shared prosperity and their commitment to empowering people to achieve their full economic potential perfectly aligns with Lithic’s values and our shared belief that better banking and payments experiences improve lives,” said Bo Jiang, CEO of Lithic. “Together, we’re democratizing access to enterprise-grade issuing capabilities, enabling fintechs to deliver innovative financial products that drive inclusive growth and expand economic opportunity.”
The companies believe that Stearns Bank’s national reputation for delivering tailored, relationship-focused banking services and its emphasis on serving communities often overlooked by larger financial institutions make it a strong partner for Lithic’s program management platform. The bank’s strategic approach to fintech enablement, combined with its robust regulatory and compliance framework, provides the foundation for scalable, reliable card issuing infrastructure that helps their customers succeed.
“The best partnerships are built on shared values, not just shared capabilities. Lithic’s commitment to democratizing access to modern card and payment infrastructure aligns with Stearns Bank’s mission of empowering people and businesses to achieve their financial goals,” said Patrick Slain, VP and director of fintech at Stearns Bank. “Together, we’re creating pathways for fintechs to build innovative, compliant products that drive inclusive growth and meaningful economic impact.”