Victor FI

Victor Technologies, Inc., operating as Victor FI, is a financial technology company founded in May 2021 that specializes in facilitating direct partnerships between banks and fintech firms. The company provides banking technology solutions designed to simplify these collaborations.

The core of Victor FI's offering is a Payment-as-a-Service (PaaS) platform. This platform equips banks with modern Application Programming Interfaces (APIs) that their corporate clients and fintech partners can use to embed financial services into their own applications. The suite of APIs enables money movement via ACH, wire, and internal transfers. A key feature is a proprietary virtual account ledgering solution that allows for the instant creation of virtual accounts, which is crucial for settlement and transaction management. For instance, clients like NYDIG and Interchecks have utilized Victor's APIs to launch their services within weeks.

Victor FI targets banks, enabling them to generate non-interest income, grow deposits, and offer modern financial solutions to their clients. It also serves fintech companies across various sectors, including gaming, payments, and digital assets, by providing the necessary infrastructure to embed financial products. The company's business model appears to be centered on providing this technology as a service, likely generating revenue through fees associated with API usage and platform access. A significant milestone for the company was securing a $6 million seed funding round in December 2021 from MVB Edge Ventures. This funding was intended to expand its service offerings to include Push-to-Card payments and virtual card issuing, as well as to accelerate its 'Vantage' suite of risk management tools. The Vantage platform assists banks in managing due diligence, onboarding, and ongoing monitoring of their fintech partners, ensuring compliance while maintaining speed and efficiency.

The company has established a notable partnership with Jack Henry, a major technology solutions provider for financial institutions. Together, they have launched an embedded payments platform with a patent-pending direct-to-core solution, which allows transactions and updates to flow directly through a bank's core systems, enhancing transparency and reducing complexities associated with intermediary layers.

Keywords: embedded payments, Payment-as-a-Service, PaaS, banking APIs, fintech partnerships, bank-fintech collaboration, direct-to-core integration, virtual accounts, ACH payments, wire transfers, risk management, compliance tools, MVB Edge Ventures, Jack Henry partnership, financial technology, embedded finance, digital payments, corporate banking solutions, open banking