U.S. Bank Avvance Partners with Magwitch to Expand Point-of-Sale Lending

U.S. Bank announced that its Avvance platform has partnered with Magwitch to expand point-of-sale lending capabilities to a broader set of customers. The Avvance platform provides lending-as-a-service infrastructure, while Magwitch serves as a distribution partner integrating these flexible installment loan products into white-label merchant platforms.

The partnership enables over 1,100 merchants to offer financing options directly at the point of sale. U.S. Bank contributes its regulated banking infrastructure and lending capabilities, while Magwitch provides the technology layer connecting merchants to these embedded finance products.

For customers, this means more accessible installment loan options when making purchases. Financial terms of the partnership were not publicly disclosed. The deal highlights the growing trend of traditional banks leveraging BaaS and embedded finance partnerships to reach end customers through fintech intermediaries.