First National Bank of Omaha Launches Credit-Card-as-a-Service Platform

First National Bank of Omaha (FNBO) has announced Bend by FNBO, a credit-card-as-a-service solution to expand its ways to let clients offer cards, a press release said.

Bend by FNBO will offer an embedded model of open API services for credit cards. It will let clients use plug-and-play financial services to integrate into existing environments. Brands will be able to access more flexibility with the service, along with customizable options for their cards.

Bend by FNBO will make use of the bank’s existing partnership with card issuing and payments company Marqeta to quickly roll out branded card programs, using Marqeta’s open APIs to embed the experiences within their applications. Marqeta has a self-service dashboard allowing companies to configure and manage their cards.

“In today’s digital world, everything requires flexibility and agility,” says Marc Butterfield, SVP, Head of Bend by FNBO. “The banking landscape is evolving, and macro trends like banking-as-a-service and open banking are transforming how digital brands deliver financial products and services to their customers. Recognizing this, we’re proud to be one of the first banks to offer modular, embedded credit card solutions to serve the dynamic market today. Bend by FNBO was built around flexible, tech-first tools that enable companies to build a credit card experience that fits their brand.”

Last year, FNBO worked with AI lending platform Upstart to expand access to its personal loan program, PYMNTS wrote.

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There was a pilot program with Upstart from 2019, where the program’s approval rates and loss rates met or surpassed expectations. FNBO’s joint effort with Upstart has also seen it approving more borrowers, with 78% of loans approved instantly.

Butterfield was quoted at the time saying that the partnership happened “so that more people nationwide can get personal loans they need with higher approval rates through a modern all-digital experience enabled by AI.”