TrueNorth and Brim Financial partnered to offer a credit card-as-a-service platform to banks, FinTechs and major brands in the United States and Canada.
The offering includes consumer, small- to medium-sized business (SMB), and commercial credit card solutions, the companies said in a Friday (March 1) press release.
The partnership brings together the capabilities of TrueNorth, a professional services organization that implements digital solutions for the financial services industry, and Brim, a FinTech company that provides a credit card-as-a-service platform, according to the release.
Together, the companies will invest in joint go-to-market and co-innovation efforts and build an integrated delivery organization to support Brim’s market expansion, per the release.
“Through this partnership, TrueNorth will co-invest in creating dedicated Brim delivery expertise, as well as assets and accelerators, including pre-integrations, methodologies and best practices to increase project predictability and speed to market,” TrueNorth CEO Alex Gonikman said in the release.
Brim CEO Rasha Katabi added that the partnership will help Brim accelerate its rollout with banks in the U.S. market.
“TrueNorth has a proven track record of delivering cutting-edge digital solutions to financial institutions, we are confident that they will help us streamline client implementations as well as scale and support the growth of our business,” Katabi said in the release.
In another partnership, Brim and Mastercard teamed up in December, saying they aim to modernize credit card infrastructure in the United States and power innovation in credit card platforms.
“There is significant momentum happening now in the U.S. market when it comes to innovating credit card infrastructure across consumer, small- and medium-sized business and commercial segments,” Katabi said at the time. “This partnership with Mastercard will be transformational for companies seeking a sophisticated, modern credit card platform to better serve their customers.”
In another move in the space, Extend, a virtual card and spend management platform, announced its integration with Concur Invoice in December, saying this would provide customers with a virtual-card-as-a-service solution.
The partnership allows vendor payment management within the Concur Invoice platform, with BMO being the first card issuer to enable virtual cards for vendor payments within the platform.
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