I2c Launches Card Payment Partnership With Vantage Bank

Digital banking and payments firm i2c launched a partnership with Texas-based Vantage Bank.

The collaboration will allow Vantage to use i2c’s solutions to support its card payment operations for its customers, according to a Monday (Oct. 28) press release.

“We partnered with i2c because we wanted a modern digital payments processor that could not only deliver personalized card experiences for our customers, but also provide the reliability and security that is critical to our business,” Vantage Bank Chief Information Officer Jay Leal said in the release.

Al Taylor, global head of financial institution solutions at i2c, said in the release: “I2c’s mission is to empower banks like Vantage Bank to navigate the complexities of bank modernization quickly, flexibly and reliably. Our platform enables financial institutions to roll out secure, real-time banking services with ease, allowing them to stay ahead of market trends and better serve their customers.”

Also Monday, PYMNTS spoke with i2c Global Head of Product Seth Perlman about the concept of the payment hub.

Small- and medium-sized banks, FinTechs and credit unions can be challenged when trying to find the time, money and resources to implement the latest money movement integrations such as real-time payments.

“Through a payments hub, you have access to a wide range of real-time and batch money movement networks,” he said. “You can originate and receive payments without having to build separate integrations to each of those.”

While the idea of a payment hub might seem familiar to industry executives, its full potential is often underestimated. The basic idea is to simplify access to various money movement networks with a unified set of APIs. This integration lets banks, credit unions and FinTechs send and receive payments in real-time and batch modes with no need for multiple, complex integrations.

For example, i2c’s offering enables banks, credit unions and FinTechs to offer access to the FedNow® Service, Visa Direct, ACH and other networks to follow with the same relative cost and effort as integrating with one network.

“This consolidated approach streamlines the payment process and enables smaller financial institutions, often constrained by legacy systems, to modernize their offerings without undergoing a costly overhaul requiring complex infrastructure updates, financial investment and ongoing maintenance,” PYMNTS wrote.