Payment technology firm Episode Six has partnered with Mode Eleven, powering its payment journey for its customers.
A subsidiary of Summit National Bank, Mode Eleven will use its Banking as a Service (BaaS) operations together with Episode Six’s technology to manage its virtual accounts, with the ability to extend the functionality of its current banking services.
“We selected Episode Six’s platform as a key piece of our API-based architecture to help us meet the needs of our BaaS partners and be able to adapt to new technologies quickly,” said Mode Eleven CTO, Michael Dowling.
“Our shared focus on hyper-configurability and emphasis on covering major use cases for a FinTech Banking Platform allows us to present a forward-leaning suite of banking products.”
By helping traditional banks implement their innovative digital solutions, Episode Six aims to design key capabilities compatible with virtual and digital banks. Its cloud-based infrastructure benefits Mode Eleven with flexibility and adaptability, with the focus on moving away from old technology norms.
John Mitchell, Co-Founder and CEO of Episode Six, added: “A scalable and flexible payments infrastructure is required for banks to keep pace with disruptors and evolving consumer preferences.
“Mode Eleven and its leadership team have extensive experience driving innovation, and we are excited for this strategic partnership as our virtual account management and payments technology is ideally suited to power their fintech products. By leveraging the tremendous assets from Mode Eleven, we will work together to deliver a market-leading platform.”