23 September 2017
Find out more

First Internet Bank forms alliance with Lendeavor

07 September 2017  |  1425 views  |  0 Source: First Internet Bank

First Internet Bank, a pioneer in the branchless delivery of banking services, today announced a national strategic partnership with Lendeavor, Inc., a San Francisco-based technology-enabled lender to healthcare practices.

The partnership comprises a loan-purchase agreement and an equity investment in Lendeavor by First Internet Bancorp, parent company of First Internet Bank, pending regulatory approval. In addition, David Becker, President and CEO of First Internet Bank and Chairman, President and CEO of First Internet Bancorp, will join Lendeavor’s Board of Directors.

The loan-purchase agreement includes a five-year commitment from First Internet Bank of up to $120 million annually to fund prime-quality business loans facilitating the growth and success of healthcare practices nationwide. The commitment will enable Lendeavor to meet growing demand.

"Healthcare finance is a rapidly growing industry, and this particular segment is one where we have a good history from a credit perspective,” said Becker. “We see this relationship as more than just an opportunity to continue to diversify our asset generation channels. We chose to partner with Lendeavor because they share our commitment to solving banking and financing challenges through extraordinary customer experience and innovative technology.”

“David Becker and the First Internet Bank team are the perfect partners for a scaling fintech company,” said Daniel Titcomb, co-founder and CEO of Lendeavor. “With an approach to innovation and flexibility we’ve not seen elsewhere in the industry, First Internet Bank enables us to give practice owners well-deserved access to a truly unparalleled combination of branchless banking products and streamlined practice financing.” 

Comments: (0)

Comment on this story (membership required)

Related blogs

Create a blog about this story (membership required)
visit www.capgemini.comvisit www.vasco.comvisit www.sibos.com

Top topics

Most viewed Most shared
HSBC switches on selfie payments in ChinaHSBC switches on selfie payments in China
13157 views comments | 27 tweets | 42 linkedin
AXA launches blockchain to cover late flight compensationAXA launches blockchain to cover late flig...
9274 views comments | 13 tweets | 27 linkedin
Apple P2P payments service nears launchApple P2P payments service nears launch
8508 views comments | 19 tweets | 27 linkedin
SBI Ripple Asia advances on South KoreaSBI Ripple Asia advances on South Korea
8133 views comments | 16 tweets | 1 linkedin
European Commission makes fintech a priority in supervisory shakeupEuropean Commission makes fintech a priori...
7934 views comments | 32 tweets | 45 linkedin

Featured job

Competitive base + commission + benefits
Denmark, Finland, Iceland, Norway or Sweden

Find your next job