Mode Eleven and its subsidiary, Summit National Bank, selects Episode Six to spearhead its payments technology journey
US-based banking innovator to leverage Episode Six's highly configurable platform, robust APIs to customize banking services
AUSTIN, TX / ACCESSWIRE / July 27, 2022 / Episode Six (E6), a leading payments technology company, today announced it has entered into a strategic relationship with U.S.-based Mode Eleven.
Mode Eleven and its subsidiary, Summit National Bank, have selected E6 to be a key part of their technology infrastructure, including managing virtual accounts and providing capabilities to extend the functionality of current banking services. In addition to helping traditional banks innovate and offer digital solutions, E6’s platform is designed to deliver key capabilities to virtual and digital banks. It is cloud-based and provides partners with the flexibility, adaptability and resilience required to leave legacy technology behind, and enable its customers to drive the future of payments.
“We selected E6’s platform as a key piece of our API-based architecture to help us meet the needs of our BaaS partners and be able to adapt to new technologies quickly,” said Michael Dowling, Mode Eleven CTO. “Our shared focus on hyper-configurability and emphasis on covering major use cases for a FinTech Banking Platform allows us to present a forward-leaning suite of banking products.”
“A scalable and flexible payments infrastructure is required for banks to keep pace with disruptors and evolving consumer preferences,” said John Mitchell, co-founder and CEO of E6. “Mode Eleven and its leadership team have extensive experience driving innovation, and we are excited for this strategic partnership as our virtual account management and payments technology is ideally suited to power their fintech products. By leveraging the tremendous assets from Mode Eleven, we will work together to deliver a market-leading platform.”
E6 has established many well-known partnerships in the last year alone, with the objective of helping businesses grow by focusing on customers and evolving market dynamics rather than on underlying tech developments.
About Mode Eleven
Mode Eleven (the future name of Hulett Bancorp) through its wholly owned subsidiary Summit National Bank, combines a nationally chartered bank and a technology platform with a modern Banking-as-a-Service platform to deliver a full range of solutions with greater speed, less risk, and less cost. For more information, visit ModeEleven.com.
E6 is a payments technology company that gives banks, fintechs and brands the freedom to design and bring leading digital payment propositions to market with unmatched speed. From issuer processing to digital wallet – across deposits, credit, savings, and loyalty rewards – and account management, we power clients’ payments journeys with the most flexible and adaptable platform on the market today, providing highly configurable products with user-driven tools and technology to stay ahead of, and respond to, customer demand and market shifts. E6’s platform is purpose-built to transfer value of any kind – fiat currency, brand value points, gold, and more. E6 operates globally across 25 countries with an expanding team located in the U.S., Europe, Japan, Singapore, Hong Kong SAR, and Australia. Investors include HSBC, Mastercard, SBI Investment Co., Ltd. and Anthos Capital.
About the Author
Episode Six provides financial institutions with solutions for legacy payment stacks that aren’t fulfilling the needs of an expanding industry. We are a global provider of enterprise-grade payment technology and ledger management infrastructure for banks that need to keep pace with disruptors and evolving consumer preferences.