jaris Partners with First Internet Bank Unlocking $1B Annual Financing Capacity
On September 12, 2023, jaris announced a strategic partnership with First Internet Bank to drive innovation in embedded lending. The partnership expands jaris' annual financing capacity to over $1 billion, significantly scaling its ability to serve partners. First Internet Bank, a digital-first institution, provides the banking infrastructure and balance sheet to support jaris' embedded finance offerings.
The collaboration focuses on developing innovative product capabilities and enhanced revenue-generating services for jaris' partner ecosystem. A key feature of the partnership is a single integration that provides access to multiple financial products, simplifying the onboarding and operational process for partners. The deal underscores the growing trend of fintech-bank partnerships that leverage bank charters to power embedded lending at scale.
Financial terms beyond the financing capacity were not publicly disclosed.
- Demonstrates bank-fintech partnerships as a scalable model for embedded lending
- Raises the bar for BaaS lending platforms competing on financing capacity and integration simplicity