Torpago launches ‘Powered By’ program for community banks and credit unions

By Delisha Fernandes

Torpago, a business credit card and spend management platform provider, has launched Powered By, a private-label credit card program that will enable community banks and credit unions to launch their own fully branded, end-to-end corporate credit card product.

“We are constantly listening to our customers and quickly recognised that this was a massive need in the banking industry,” said Brent Jackson, Founder and CEO of Torpago. “The core of everything we do is identifying big problems and creating smart solutions. Torpago was initially built to address the widespread lack of modern accounting and expense management solutions for medium and small businesses. Launching Powered By was the next evolution in doing what we do best.”

Powered By is designed to solve the pain points local banks and credit unions frequently have with current third-party cards by providing customer service support, modern platforms accompanying the card and visibility into the company’s spending data. It is tailored to help banks and credit unions continue to serve business customers as their operations grow.

“Torpago handles all the coding, infrastructure and continuous innovation behind the Powered By program, so community banks and credit unions can focus on what differentiates them in the industry – building great customer relationships.,” said Lei Wang, Chief Technology Officer at Torpago. “As businesses scale, their accounting needs grow, too. Our software is equipped to meet business needs at every size, with features like spend controls, accounting app integrations, and risk management.”

Powered By aims to level the playing field in the banking industry by allowing community banks and credit unions to offer cutting-edge solutions to customers ranging from small businesses to enterprise-level companies. It also reaches small businesses and banking customers in more traditional industries that FinTech companies often underserve.