First Bank of the Lake Partners with Infinant for White-Label Banking
On October 23, 2024, First Bank of the Lake, based in Osage Beach, Missouri, announced a strategic partnership with Infinant to launch a private-label banking program targeting fintech firms and businesses. The program uses Infinant's Interlace platform to embed banking products into partner applications, providing real-time account access and seamless integration while keeping full regulatory compliance under the bank's control. To lead the initiative, the bank hired Ana Liza Grandner as Senior Vice President and Chief Payments Officer, bringing over 16 years of fintech banking experience, along with Phil Bianco.
The partnership allows fintech companies and businesses to deliver branded financial services without building their own banking infrastructure from scratch. The bank positions this as an enhancement to its deposit strategies and digital channels, marking its entry into the fintech collaboration space. The model differentiates itself from traditional BaaS arrangements by emphasizing that the bank retains ownership of compliance and regulatory functions rather than delegating them to intermediaries.
- Signals growing demand among community banks to enter BaaS and embedded finance while retaining direct compliance oversight
- Infinant's bank-controlled model offers an alternative to traditional BaaS middleware, potentially attracting banks wary of regulatory risk from third-party intermediaries