We’re excited to announce a strategic partnership with Thread Bank, who is the fourth bank partner helping to power Unit’s Banking-as-a-Service platform, which shows our continued commitment to our unique multiple bank partners approach. This partnership enables us to further expand our capacity and product capabilities. For companies building on Unit it will now be easier to access new products, launch predictably fast, and scale as they grow.
In addition to expanding our banking partners to continue accelerating growth, this partnership will also allow us to expand our product offering into new areas such as credit. Thread Bank will be another option to provide accounts, cards, payments, and lending to companies building on Unit so they can access a complete solution on a single platform, via a single API.
“We’ve grown explosively over the last year by helping companies quickly create new revenue streams with customized banking experiences,” said CEO and co-founder Itai Damti. “With our partnership with Thread Bank, we will be able to empower more companies to offer unique banking solutions based on industry-leading technology and partners.”
Chris Black, Thread CEO and President, said, “We believe the future of banking is digital, connected, contextual, and customer-first. Through meticulously selected partnerships and technology, our unique and differentiated banking strategy will vastly improve the way individuals and small business customers manage everyday banking tasks. Unit’s technology platform is not only proven and secure—it’s also a nimble, evolving solution that continues to provide customers better products and services over time. We’re thrilled to have Unit as a partner in our journey for engaging more customers in very new and exciting ways.”
Together, Unit and Thread Bank are well-positioned to take advantage of a rapidly growing banking-as-a-service market by focusing on the finance and technology capabilities that create better banking experiences for customers. The partnership has already been successful with several companies poised to launch banking and credit products in the coming weeks.
August 10, 2022