WebBank
US · Salt Lake City, Utah · FDIC (Utah ILC)
WebBank is a Bank based in US (Salt Lake City, Utah), regulated by FDIC (Utah ILC). The institution operates an active Banking-as-a-Service program, launched in 1997.
WebBank supports the following products and services: Lending, BNPL, Cards, Accounts. The bank serves customers across US.
Notable fintech partners include Prosper, Avant, Klarna, PayPal Working Capital, Petal, Dell Financial Services, Oportun, Cleo.
- Products Supported
- LendingBNPLCardsAccounts
- Geographies Served
- US
- Charter / Regulator
- FDIC (Utah ILC)
- API Standards
- REST API, Proprietary
- Minimum Deal Size
- Not publicly disclosed
- Year Program Launched
- 1997
Prosper, Avant, Klarna, PayPal Working Capital, Petal, Dell Financial Services, Oportun, Cleo
None confirmed active
Utah Industrial Loan Company; pioneer in marketplace lending partnerships. Originated/funded over $150B in consumer and commercial credit. Brands itself as 'The Bank Behind the Brand.' No consent order.
WebBank Partners with BMG Money to Expand Embedded Digital Lending
WebBank announced a partnership with BMG Money on August 6, 2024, to expand financial access through embedded finance in digital lending. The collaboration leverages WebBank's sponsor bank capabilities with BMG Money's lending platform. This deal highlights the continued growth of bank-fintech partnerships in the embedded lending space.
WebBank and American Express Collaborate on Embedded Finance Innovation
WebBank announced a collaboration with American Express focused on embedded finance and digital lending innovations. The partnership positions WebBank as a strategic enabler of financial product innovation. It underscores the growing role of industrial loan charter banks in powering embedded finance at scale.
WebBank Commits $250 Million Investment in Avant Loan Securitization
WebBank announced a $250 million investment commitment in Avant's loan securitization program. WebBank, a prominent BaaS sponsor bank, deepened its financial relationship with fintech lender Avant. The commitment underscores the growing role of sponsor banks in supporting fintech loan securitization pipelines.
WebBank Invests in iCreditWorks to Drive Digital Lending Innovation
WebBank announced an investment in iCreditWorks to advance digital lending innovations through embedded finance partnerships. WebBank, a prominent BaaS bank partner, is deepening its embedded lending capabilities. The investment strengthens WebBank's position as a leading sponsor bank for fintech lending programs.
Oportun Closes $150M Credit Facility With WebBank
Oportun, a mission-driven fintech lender, closed a $150 million credit facility secured by assets and backed by WebBank, a Utah-chartered industrial bank. WebBank is a key BaaS partner bank enabling fintech lending programs. This deal expands Oportun's funding capacity for consumer lending products.
WebBank Partners with Capital on Tap to Launch SMB Credit Card
WebBank, a US sponsor bank, partnered with UK digital lender Capital on Tap to launch an SMB credit card product. WebBank serves as the issuer and lender while Capital on Tap provides the technology platform for delivery. The partnership exemplifies the sponsor bank model enabling fintechs to offer lending products without state-by-state licensing.
Duke Analysis Highlights Regulatory Risks of Bank-Fintech Rent-a-Charter Models
A Duke University Financial Regulation Blog analysis examined the growing 'rent-a-charter' model where sponsor banks like WebBank, Celtic Bank, and Cross River Bank provide banking charters to fintech lenders. The analysis highlighted expanding regulatory and consumer protection risks in these BaaS partnerships.
WebBank Acquires National Partners to Expand Private-Label Premium Finance Loans
WebBank, a subsidiary of Steel Partners Holdings, acquired National Partners to expand its private-label premium-finance loan offerings. The acquisition supports WebBank's strategy of providing customized credit products for brand partners including retailers and fintechs. WebBank is a key BaaS bank powering lending programs for numerous fintech companies. This deal strengthens its position as a leading infrastructure bank for embedded lending.