First International Bank & Trust (FIBT) Named Service Bank for Raisin as Global Fintech Becomes First to Integrate with Kotapay’s Kavinu™ Platform

Kotapay, a division of First International Bank & Trust (FIBT), today announced Raisin, the global savings and investment platform, as the first financial technology company to integrate with its new bank-direct banking as a service (BaaS) platform, known as Kavinu. This integration expands on FIBT’s existing partnership with the German-based fintech leader, which already included serving as the holder of Raisin customers’ cash accounts. With the conversion of service bank responsibilities to FIBT, Raisin now accesses a variety of cloud-based microservices to processes fund transfers between external accounts and the 80+ banks and credit unions on the Raisin marketplace, as well as perform critical risk management and compliance functions.

By removing unnecessary middleware and nonbank providers used by many to connect banks and fintechs, Kotapay’s vertical integration simplifies the BaaS model and accelerates speed-to-market for fintechs and embedded finance providers.

“Kavinu represents the next generation of banking as a service where innovative companies like Raisin connect directly to an experienced banking partner like FIBT and Kotapay,” said Trent Sorbe, Chief Payments Officer at FIBT. “Raisin is an ideal first partner for demonstrating Kavinu’s capabilities and the advantages of our BaaS 2.0 approach. One contract and one connection greatly accelerated speed to market, as Raisin was able to launch in less than half the time experienced by other fintechs reliant on convoluted, unstable models.”

Kotapay, which already provides payments processing to more than 107,000 employers and 1.5 million consumers nationwide, launched Kavinu to redefine BaaS by emphasizing direct relationships between fintech companies and banks. This approach ensures fintech solutions are built on a trusted foundation with faster time to market, proven scalability and increased revenue potential.

Key advantages of the Kavinu platform include:

• Direct bank integration – Provides financial innovators with a direct connection to an experienced banking partner.
• Bank-grade security – Leverages FIBT's robust compliance infrastructure, extensive risk management systems, and deep regulatory prowess.
• Accelerated speed to market – Enables faster implementation compared to other models, allowing partners to launch new products and services faster.
• Proven scalability – Supported by Kotapay's existing payments infrastructure, which processed over 64 million transactions totaling more than $102 billion in 2024.
• Experienced leadership – Benefits from a team of industry leaders that propelled FIBT to one of only six community banks on the Nacha’s top-50 ACH originators list.
• Versatile architecture – Cloud-native, API-driven technology layer adaptable to various business models beyond typical BaaS use cases.

“FIBT and Kotapay are among a small group of institutions that are both technology-forward leaders in electronic transaction processing and backed by the stability of a 115-year-old, family-owned bank,” said Cetin Duransoy, CEO at Raisin. “The combination of industry leadership and superior technology in a single bank-direct platform is the right solution as we continue to grow and scale our platform. Kavinu also meets the high standards expected by our 75+ partner banks and credit unions and their regulators.”

Commenting on becoming Raisin’s new service bank, Peter Stenehjem, CEO of FIBT, added, “We’ve been a proud partner since June 2024 and are excited to see our Kavinu platform come to life as Raisin’s new service bank. By reclaiming embedded payments from fractured middleware models, we're ensuring financial innovators like Raisin have the stability, efficiency, and speed they need for long term success.”

To learn more about Kavinu, visit www.kotapay.com/kavinu.

About Kotapay

Kotapay is an electronic payment solutions provider based in Fargo, North Dakota and Sioux Falls, South Dakota. Since our founding in 1993, we have provided fast, accurate, and secure electronic payment services to more than 107,000 companies in all 50 states and Puerto Rico. Kotapay serves as the payments division of First International Bank & Trust (FIBT), a North Dakota-based independent, community bank with more than $5 billion in assets. We provide services to a multitude of industries including fintech, embedded finance providers, payroll providers, accountants, non-profits, healthcare, utility companies, and more. Learn more at www.kotapay.com/kavinu.

About First International Bank & Trust

First International Bank & Trust (FIBT) is a full-service, family-owned community bank serving communities across North Dakota, South Dakota, Arizona, and Minnesota. Founded in 1910 as Farmer’s State Bank in Arnegard, ND, FIBT’s foundation was built on the bond between its employees and customers. Today, FIBT remains committed to that personal touch by remaining local, caring for customers, and staying involved in their communities. Learn more by visiting FIBT.com.

About Raisin

Raisin is the world's leading platform for savings and investment products. Founded in 2012, the FinTech connects consumers with banks in the EU, the UK and the US. This gives consumers better interest rates and banks a diversified form of refinancing. Our vision is to offer savings and investments without barriers and thus open up the global +140 trillion euro market. Raisin currently employs more than 700 people from over 65 countries worldwide. Today, the platform holds over 70 billion euros in assets from more than one million customers which have accrued over 2 billion euros in interest with their investments.

View source version on businesswire.com: https://www.businesswire.com/news/home/20250610931424/en/

Legal Disclaimer:

EIN Presswire provides this news content "as is" without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the author above.