US-based Evolve Bank & Trust and embedded finance provider Bond Financial Technologies have joined forces to offer banking-as-a-service (BaaS) solutions.

The tie-up is aimed at enabling clients from any industry to build and launch financial services products at scale.

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Evolve will join Bond’s ecosystem of bank partners, which will allow it to offer new services in both debit and credit cards to clients. 

Evolve open banking division president Hank Word said: “As a leading fintech sponsor bank, Evolve is excited by the capabilities Bond brings to our partnership.

“Bond’s architecture and product roadmap is built for scalability, which allows the large brands they are partnering with to fold seamlessly into Evolve. We are deeply committed to continue building the fintech ecosystem through this uniquely beneficial partnership.”

Some of the products offered by Bond include no-fee instant payout capabilities for SaaS clients, and expense management cards for businesses.

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Bond also offers a credit-builder card and crypto-backed credit card for consumers.

Bond co-founder and CEO Roy Ng said: “Bond and our customers benefit from Evolve’s tech-forward approach to financial services.

“We are excited to partner with Evolve as we continue to execute on our go-to-market strategy. As one of the earliest sponsor banks to adopt a fintech-first model, we are already benefiting from Evolve’s experiences and insights.”

The BaaS industry in the US has been gaining traction recently.

Earlier this week, fintech startup NovoPayment raised $19m to tap BaaS growth opportunities in the US, Latin America and the Caribbean.