Partnership will support fintech and payment companies with FDIC insured bank accounts.
MINNEAPOLIS, MN, UNITED STATES, October 24, 2022. WireFX, a Minnesota based fintech startup and Stearns Bank N.A. (“Stearns Bank”), an independently-owned financial institution with locations in Minnesota, Florida and Arizona announce their partnership to support fintech and payment companies with FDIC insured bank accounts.
WireFX will utilize Stearns Bank’s sponsorship to offer domestic and international payments across ACH, domestic and international wires, and virtual banking accounts.
“WireFX has always been committed to community banks, credit unions, and fintechs so this partnership with Stearns Bank represents the best of both worlds,” said Jeff Althaus, WireFX President & CEO. “Through our work with Stearns Bank, WireFX can now support the fintech community with critical banking services.”
Stearns Bank will also leverage the WireFX payments platform to easily onboard and manage current and new fintech clients as it looks to expand this customer segment.
“Sponsoring WireFX was an easy decision for us thanks to their advanced technology and compliance first payments platform,” said Kelly Skalicky, President and CEO, Stearns Bank N.A.. “We are excited to expand this partnership, opening the door to fintechs and community banks across the U.S.”
WireFX is a compliance-first payments technology platform that empowers banks, credit unions, and fintechs to seamlessly transform their payment and FX processes, increase customer satisfaction, and unleash new revenue opportunities. Supporting domestic and international payments, virtual accounts, and embedded compliance workflows, WireFX is one of the most disruptive global payments companies currently on the market. For more information visit www.wirefx.com.
About Stearns Bank N.A.
Minnesota-based Stearns Bank National Association is a $2.4 billion, independently-owned financial institution with locations in Minnesota, Florida and Arizona, and over 35,000 small business customers nationwide, in every state across the U.S. Recognized as having a bullet-proof balance sheet with 20% capital and earning top rankings as one of the nation’s highest-performing banks by American Banker, and most recently ranked ninth in the U.S. among banks having more than $1 billion in assets by Independent Banker’s May 2021 Best of the Best ranking of banks with the highest 3-year average Return on Assets, Stearns Bank specializes in nationwide commercial construction lending, USDA and SBA lending, and small business and equipment financing. Driven by a passion to help others achieve their greatest ambitions, Stearns Bank mission is to Get the Job Done! For more information, visit StearnsBank.com.