First National Bank of Omaha launches a credit card-as-a-service system

The new Bend by FNBO service aims to expand the bank’s co-brand credit card capabilities. The system offers an embedded model of open API services for credit cards through a network of strategic partnerships, supporting plug-and-play financial services that can easily integrate into existing environments.

Official FNBO representatives cited by businesswire.com pointed out the evolving nature of the banking landscape and emphasised how macro trends like banking-as-a-service and open banking are transforming how digital brands deliver financial products and services to their customers.

According to the same source, FNBO is one of the first banks to offer modular, embedded credit card solutions to serve today’s dynamic market. In essence, Bend by FNBO includes flexible, tech-first tools that allow companies to create credit card experiences that fit their brand.

According to paymentsjournal.com, Bend by FNBO aims to solve the problem of bank issuance. While entities are required to have a banking license to offer Mastercard or Visa accounts, FNBO’s solution links a fintech and a lender in a pre-packaged offering. According to the same source, this direct connection between a tech provider and a financial institution will set the stage for a new set of products in the future.

First National Bank of Omaha partners with Marqeta

For Bend by FNBO, First National Bank of Omaha has entered curated partnerships with payment providers such as Marqeta. Marqeta’s open APIs can help companies to roll out branded credit card programs quickly. These APIs can also help them embed the credit card experience within their applications while leveraging FNBO’s underwriting services and program management capabilities such as compliance and risk management.

This isn’t the first time that the two entities have joined up. In December 2021, FNBO partnered with card issuer Marqeta in order to expand its partner ecosystem and enable customers to launch modern credit card programmes.

The partnership aimed to allow companies to easily launch credit cards using Marqeta’s APIs and embed the card experience within their app ecosystem. The Marqeta platform has a self-service dashboard that can be used to update credit products according to clients’ needs. Moreover, client companies can instantly extend credit applications, decisions, and onboard accounts using this dashboard.