The Bancorp Partners with Current as BaaS Sponsor Bank

The Bancorp Bank entered into a BaaS sponsor bank partnership with Current, a New York-based digital banking fintech, to provide back-end banking services and card issuing sponsorship. The deal enables Current's nearly 3 million members to access funds via physical and virtual debit cards across its basic, premium, and teen account products. The Bancorp brings its depth of experience in fintech solutions and banking infrastructure to support Current's growth and mission of improving financial outcomes for Americans.

Current had previously partnered with Choice Financial Group and Metropolitan Commercial Bank, which continued servicing existing customers under the new arrangement. Ryan Harris, EVP and Head of Fintech Solutions at The Bancorp, highlighted the partnership as showcasing the combination of fintech innovation with The Bancorp's banking expertise. Financial terms of the deal were not disclosed.

The partnership positions The Bancorp to further solidify its role as a leading BaaS sponsor bank in the rapidly growing digital banking market.