Mode Eleven and Summit National Bank, select Episode Six to drive its payments technology

By Edlyn Cardoza

Mode Eleven and its subsidiary, Summit National Bank, have selected Episode Six to be a crucial part of their technology infrastructure, including managing virtual accounts and providing capabilities to extend the functionality of current banking services. In addition to helping traditional banks innovate and offer digital solutions, Episode Six’s platform is designed to deliver key capabilities to virtual and digital banks. It is cloud-based and provides partners with the flexibility, adaptability and resilience required to leave legacy technology behind and enable its customers to drive the future of payments.

“We selected Episode Six’s platform as a key piece of our API-based architecture to help us meet the needs of our BaaS partners and be able to adapt to new technologies quickly,” said Michael Dowling, Mode Eleven CTO. “Our shared focus on hyper-configurability and emphasis on covering major use cases for a FinTech Banking Platform allows us to present a forward-leaning suite of banking products.”

“A scalable and flexible payments infrastructure is required for banks to keep pace with disruptors and evolving consumer preferences,” said John Mitchell, co-founder and CEO of Episode Six. “Mode Eleven and its leadership team have extensive experience driving innovation, and we are excited for this strategic partnership as our virtual account management and payments technology is ideally suited to power their fintech products. By leveraging the tremendous assets from Mode Eleven, we will work together to deliver a market-leading platform.”

Mode Eleven (the future name of Hulett Bancorp), through its wholly-owned subsidiary Summit National Bank, combines a nationally chartered bank and a technology platform with a modern Banking-as-a-Service platform to deliver a full range of solutions with greater speed, less risk, and less cost.