The Bancorp announces new banking services partnership with Current

By Pavithra R

The Bancorp Bank, the wholly-owned banking subsidiary of The Bancorp, announced its newly-established banking services partnership with New York-based leading challenger bank Current serving Americans working to create a better future for themselves.

The Bancorp offers tailor-made solutions to meet the unique needs of several top financial technology services providers throughout the country and this new collaboration enables Current to further its mission to improve the financial lives of even more Americans.

“At Current, we’re committed to building inspirational and motivational products that solve real problems for our members and having the right banking partner is a critical part of that. We look forward to working with The Bancorp as we continue to innovate and enable even more people to improve their financial outcomes,” said Stuart Sopp, Current CEO and Founder.

Through the alliance with The Bancorp, new Current members will receive an enhanced suite of services across its entire product line, including its basic, premium and teen accounts. The Bancorp will provide back-end banking services and card issuing sponsorship, enabling Current members to access their funds through both physical and virtual debit cards.

“We are honored to have the opportunity to partner with Current and support them in the next evolution of their growth. This business collaboration showcases another opportunity for us to bring together technology and innovation from the industry’s leading fintech organizations with The Bancorp’s depth and experience in providing back-end banking services,” said Ryan Harris, EVP and Head of Fintech Solutions at The Bancorp.

Founded in 2015, Current focuses on creating better financial outcomes for people and their unique lives. Its custom-built banking technology platform Current Core makes this possible by providing greater stability, faster money and cost efficiencies that are passed on to its community of members. The firm is backed by investments from Andreessen Horowitz, Tiger Global Management, TQ Ventures, Avenir, Sapphire Ventures, Foundation Capital, Wellington Management, QED Investors and EXPA.