Avant Launches Amount as White-Label BaaS Platform for Banks
On September 25, 2018, Avant officially rebranded its financial technology SaaS business unit as Amount, creating a dedicated bank partnership platform. Amount evolved from Avant's 'Powered by Avant' unit and offers end-to-end customizable digital lending products, fraud prevention tools, decisioning engines, white-label servicing capabilities, and analytical services such as risk modeling and customer acquisition. Regions Bank and Eloan, Banco Popular's digital platform, were already leveraging Amount to deliver digital personal loan experiences to their customers.
The company announced plans for additional bank partnerships going forward. Amount addressed a significant market gap for large banks that needed mobile-first online lending capabilities without building technology in-house. The platform enabled traditional banks to offer fintech-like digital experiences through white-label enhancements layered onto their existing products, representing a notable early example of the BaaS model gaining traction among major financial institutions.
- Established a model for fintech lenders to monetize their technology stack by licensing it to traditional banks as a BaaS offering
- Signaled growing demand from large banks for turnkey digital lending platforms rather than in-house builds, accelerating the BaaS market