Unit and Thread Bank partner to expand the Banking-as-a-Service ecosystem

By Edlyn Cardoza

Unit, a banking-as-a-service platform that empowers companies to embed financial services into their products, announced a strategic partnership with Thread Bank, a digital-first bank based in Rogersville, Tennessee. Companies will now be able to easily embed a complete set of banking services into their products—including accounts, cards, payments, and lending—using a single platform in a matter of weeks.

“In collaboration with Thread, Unit will be able to empower more companies to offer unique banking solutions based on industry-leading technology and partners,” said Unit’s CEO and co-founder, Itai Damti.

Unit and Thread Bank are well-positioned to offer customers seamless banking experiences by combining finance and technology capabilities. The partnership has already been successful, with several companies poised to launch banking and credit products in the coming weeks.

Thread Bank is one of four bank partners powering the Unit’s Banking-as-a-Service (BaaS) platform. While most BaaS providers rely on a single bank partner, Unit maintains multiple bank relationships to support the widest range of financial products and expand capacity for clients.

Chris Black, Thread’s CEO and President said, “We believe the future of banking is digital, connected, contextual, and customer-first. Through meticulously-selected partnerships and technology, our unique and differentiated banking strategy will vastly improve the way individuals and small business customers manage everyday banking tasks. Unit’s technology platform is not only proven and secure—it’s also a nimble, evolving solution that continues to provide customers better products and services over time. We’re thrilled to have Unit as a partner in our journey for engaging more customers in very new and exciting ways.”

Unit is a banking-as-a-service platform that empowers companies to embed financial services into their product. Unit’s platform accelerates time to market and enables companies to build and launch next-gen bank accounts, cards, payments, and lending products.