BankPro Taps Thredd to Power Physical and Virtual Cards

BankPro has partnered with Thredd to enhance its physical and virtual debit and credit card programs. The collaboration, announced on September 29, utilizes Thredd's platform to bolster BankPro's payment infrastructure and cater to the needs of international high-net-worth clients based in the Bahamas. Loizos Theofanous, BankPro's COO, emphasized that this partnership is not merely about card issuance but rather about leveraging a modern, global platform that offers the speed, control, and flexibility required for BankPro's ambitious growth ambitions.

Thredd's AI-first technology and successful track record with major fintechs and banks make them an ideal partner for improving the experience of BankPro's sophisticated clients. The integration will ensure customers enjoy a "modern, secure, and seamlessly integrated card" experience through Thredd's unified platform and single API.

Both companies will work together to enhance BankPro's premium card products, including the Visa Platinum debit cards and Visa Infinite credit cards. Thredd CEO Jim McCarthy highlighted that private banking clients expect the same immediacy, control, and digital experience from their cards as they do from top consumer fintech products, without compromising on the security and reliability they trust their banks to provide.

PYMNTS collaborated with Thredd on the Future of AI Credit playbook series, which explores how advancements in credit technology can benefit cardholders. Real-time data, tokenization, and automated decisioning can enable issuers to assess individual transactions and offer flexible credit options, such as choosing an installment plan after a purchase or accessing credit terms that adapt to changes in a customer's financial circumstances.

Financial regulators in the U.S. and U.K. have recognized the importance of borrowers understanding AI-assisted credit decisions, with research from the journal FinTech emphasizing the significance of explainability in fairness and empowering consumers to challenge these decisions. A PYMNTS Intelligence survey reveals that 40% of millennials and 48% of Gen Z consumers would use their cards more if they could select a repayment plan at the point of sale instead of being bound by a fixed structure set during account opening.

For issuers, the opportunity lies in transforming investments in AI credit into options that consumers can understand, control, and utilize.