Visa to Help Facilitate Partnerships Between Banks and Fintech Companies

By Luigi Wewege | Wednesday, May 26, 2021 | Business, Finance, Tech

Today, Visa, one of the world’s largest financial companies, announced the expansion of its “Visa Fintech Partner Connect” program, created to help traditional financial institutions quickly establish a connection with emerging fintech businesses.

Visa and Mastercard credit cards.

Visa Expands Its Fintech and Digital-First Banking Presence

A program developed by the company also helps Visa’s issuing business partners create digital experiences in an easy way and allows them to avoid costs of building the back-end technology in-house. The program, which Visa first launched in Europe, has now expanded into other markets, including the United States, Asia-Pacific, Central Europe, the Middle East, Africa, Latin America, and the Caribbean.

An expanded program will be managed by local teams in their respective regions, who will also manage and vet partners in business categories like account opening, data aggregation, analytics and security, customer service, as well as new cardholder services and operations and compliance.

Until now, the company has teamed up with around 60 business partners that provide various tech solutions from back-office functions to new front-end services. Some of those include Alloy, Jumio, Argyle, Fidel, FirstSource, TravelBank, Canopy, Hummingbird, and Unit21, among others.

“In today’s climate, building a competitive financial product requires more technology than ever before. Consumers want seamless interactions across mobile and web, and they want access to a greater suite of digital banking capabilities,” said Terry Angelos, senior vice president and global head of fintech at the company.

Through the program, the company and its clients can find and connect with fintech providers that offer solutions across the customer journey. By connecting with them, clients served by the company can also receive multiple benefits, including diminished implementation fees and pricing discounts.

“We’ve assembled a community of payment and banking technology platforms to streamline the discovery and procurement process for our clients—with the ultimate goal of accelerating adoption of digital-first innovations,” Angelos added.

ICBA Bancard President and CEO Tina Giorgio believes the program will also enable smaller banks to speed up their digital roadmap, as well as retain and grow their business client base while cutting expenses.

The payments company announced the initial launch of the program in Europe back in November 2020. At the time, the credit card and financial services giant said it was partnering up with 13 different fintech “solutions” in Europe it considers are the “forefront of this technology.” The rollout came after Visa’s successful launch of a pilot program focused on the selected fintech companies.

Mark Nelsen, senior VP at Visa for Europe product, said in November that the fintech program comes at a time when the COVID-19 pandemic has sped up the transition towards online payments and banking, as well as online shopping.

“The popularity and need for digital payments and online banking has never been greater with the global pandemic accelerating this shift in behaviour. This means that financial institutions and businesses of all sizes are looking for ways to rapidly develop their offerings,” he said.


Today, payments business Visa announced the global expansion of its “Visa Fintech Partner Connect” program. The credit card giant initially launched the initiative in Europe and is now bringing it to new business markets, including the US, Asia-Pacific, Central Europe, the Middle East, Africa, Latin America, and the Caribbean.

About the Author

Headshot for author Luigi Wewege

Luigi Wewege is the Senior Vice President, and Head of Private Banking at Caye International Bank. Outside of the bank, he serves as an Instructor at the FinTech School which provides online training courses on the latest technological and innovation developments within the financial services industry. Luigi is also the published author of: The Digital Banking Revolution.

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