Lithic taps Stearns Bank to strengthen card issuing infrastructure

By Vriti Gothi

Lithic has partnered with Stearns Bank to expand its partner bank network and strengthen its card issuing infrastructure for FinTech and enterprise clients across the United States.

The collaboration will see Stearns Bank act as a BIN sponsor across major payment networks for Lithic’s program-managed services. The arrangement enables FinTechs to launch and manage consumer and commercial credit, debit and prepaid card programmes through Lithic’s platform, supported by Stearns Bank’s regulatory oversight and compliance framework.

The partnership reflects a broader trend in the U.S. FinTech market, where card programme managers are deepening relationships with sponsor banks to enhance compliance, resilience and scalability amid heightened regulatory scrutiny. As FinTechs increasingly seek to consolidate vendors and accelerate go-to-market timelines, integrated issuing and banking infrastructure has become a competitive differentiator.

Stearns Bank, headquartered in Minnesota and operating nationally, brings more than a century of banking experience. Through the partnership, FinTech clients will gain access to direct-to-Federal Reserve ACH processing and Fedwire capabilities, as well as dispute management, fraud monitoring, 24/7 cardholder support and end-to-end onboarding and settlement services.

Bo Jiang, CEO of Lithic, said, “The partnership aligns with both firms’ focus on expanding access to modern payment infrastructure. Together, we’re broadening access to enterprise-grade issuing capabilities, enabling FinTechs to deliver innovative financial products that drive inclusive growth.”

Patrick Slain, VP and Director of FinTech at Stearns Bank, added, “The collaboration is designed to help FinTechs build compliant, scalable products. We’re creating pathways for FinTechs to build innovative, compliant products that drive meaningful economic impact.”

For Lithic, the addition of Stearns Bank enhances its ability to offer sponsor bank optionality, a key consideration for FinTechs managing concentration risk and evolving compliance requirements. For Stearns Bank, the partnership underscores the continued role of regional and community banks in supporting embedded finance and digital-first financial services.