Covid-19 Impact on Banks, And fixes. The Black Swan Opportunity

Download Now

The Black Swan Opportunity | Get your bank digital ready.

IBSI Special 5 Digital Report Package with Special Offer. Subscribe now

IBS Journal: The iconic monthly FinTech magazine

May 2020 issue out now! Subscribe now

India FinTech Report 2020

Insights into the historical and projected market size of key FinTech categories. Subscribe now

Colorado National Bank relaunches as Transact Bank N.A.

Colorado National Bank, a U.S. national bank acquired by FinTech entrepreneurs in 2018, has rebranded itself as Transact Bank, National Association (“Transact Bank”). The rebranding represents the banks plan to offer a range of payment processing and card issuing solutions to serve domestic and cross-border businesses.

“We are proud to build on our momentum as an innovative FinTech-focused organization with a solid presence in the US and EU. Leveraging technology and expertise from both continents will extend our clients an unparalleled platform for conducting commerce, while lowering cross-border fees,” said Mark Moskvin, chief executive officer, Transact Bank.

Transact Bank is an affiliate of Transact Pro, a European-based financial institution and gateway provider. It is a member of Mastercard, Visa, SWIFT and the Federal Reserve Bank and its core banking platform is powered by Fiserv. Transact Pro’s solutions are supported by card acquiring and issuing platforms, and a proprietary PCI DSS Level 1 certified gateway. Together with the assistance of card and account issuing APIs on both continents, the companies are planning to provide a complete platform to support direct domestic and cross-border local payment processing and card issuing.

Transact Bank is planning to provide its clients with access to a range of solutions including bank card acquiring, bank transfers, EU-issued cards, foreign exchange services, and bank accounts in the US and EU It is also assisting clients in reducing the costs of conducting cross-border business by providing access to cross-continental payment and banking solutions.

Transact Bank N.A. (formerly Colorado National Bank) is a U.S. national bank aiming to focus solely on payment processing and card issuing businesses, domestically and cross-border.

Related IBS Intelligence Research​

Related Posts