Piermont Bank Partners with Unit to Simplify Embedded Banking for Fintechs

On February 15, 2022, Piermont Bank, a digital-first commercial bank, announced a strategic partnership with Unit, a banking-as-a-service startup, to make it easier for fintechs to launch embedded banking products. Piermont Bank contributes its banking charter and fintech-first philosophy, while Unit provides its BaaS platform with APIs that streamline integration for brands embedding financial services. The partnership is designed to let fintechs select optimal BaaS technology and banking partners rather than being locked into a single stack.

At the time of the announcement, the collaboration had already attracted new fintech clients expected to go live within weeks. The alliance targets the broader fintech ecosystem by reducing time-to-market for embedded banking offerings. No specific financial terms of the partnership were disclosed.

The deal reflects a growing trend of sponsor banks actively choosing BaaS middleware partners to expand their fintech program reach.