Pathward expanded and transformation its suite of offerings for financial institutions. Formerly known for providing prepaid cards to banks and credit unions, Pathward’s new Solutions for Financial Institutions includes expanded options for commercial finance solutions and merchant services.
“Pathward is excited to roll out Solutions for Financial Institutions so banks and credit unions can expand their banking and lending solutions to better serve their communities,” Brittany Kelley, vice president of solutions for Financial Institutions at Pathward, said. “From competitors to technology, community financial institutions face an array of challenges in an ever-evolving financial ecosystem, and Pathward’s suite of solutions makes it easier for them to deepen their customer relationships.”
Building on Pathward’s legacy of forward-thinking solutions and relationships along with strong compliance standards, Solutions for Financial Institutions provides a range of products to help community banks and credit unions fulfill the unique needs of their customers. This new era for Pathward’s product suite establishes its services for financial institutions beyond the existing prepaid focus, which includes gift cards and reloadable cards. It also ushers in opportunities for Pathward to support banks and credit unions, including:
- Commercial Finance Solutions: Today’s businesses require unique, flexible financial products to maximize cash flow or to expand their business. When business clients don’t qualify for traditional financing or when a product isn’t available, Pathward provides a variety of options including asset-based lending and Small Business Administration lending.
- Merchant Services: Pathward’s merchant services program empowers community banks and credit unions to offer merchant processing services to their business clients, eliminating the challenges and liabilities associated with managing an independent program.
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“We are proud to continue Pathward’s commitment to helping financial institutions grow and succeed in an increasingly fierce marketplace,” Will Sowell, Pathward Divisional president of banking as a service, said. “Solutions for Financial Institutions expands our capabilities to function as a facilitator of growth for banks and credit unions, and we are excited to foster a deeper understanding of the needs of these institutions as we pave the way for a new age of support for our customers. We plan to continue evolving Pathward’s product suite for financial institutions and look forward to powering their future growth.”
