FNBO Launches Bend Credit Card-as-a-Service With Marqeta
On August 30, 2022, First National Bank of Omaha (FNBO) announced the launch of Bend by FNBO, a Credit Card-as-a-Service (CaaS) platform. The solution leverages open APIs and partners with Marqeta for modern card issuance infrastructure, allowing fintechs, digital brands, and platforms to embed fully customized credit card programs. FNBO provides end-to-end services including credit underwriting, regulatory compliance, and risk management, reducing the operational burden on partners.
The platform targets companies that want to offer branded credit cards without becoming card issuers themselves. Bend by FNBO represents a significant entry by a traditional top-10 U.S. card issuer into the BaaS and embedded finance space. The move adds competitive pressure to existing BaaS providers and sponsor banks by offering institutional-grade credit capabilities.
Financial terms and initial partner brands were not disclosed at launch.
- A top-10 U.S. card issuer entering CaaS significantly raises the bar for BaaS credit offerings and challenges fintech-first providers
- Validates the embedded credit card model and may accelerate adoption among enterprise-scale platforms seeking institutional-grade partners