- This collaboration allows companies to integrate payment, card, and deposit products directly with the bank and enhances Stripe’s offerings.
- The integration of Newline technology into Stripe treasury will allow software businesses to offer embedded financial accounts to their customers.
OUR TAKE
The partnership with Newline allows Stripe to offer a wider array of financial products and services, which can attract more software businesses looking to integrate embedded financial accounts for their customers. So Stripe can stay ahead of competitors and remain a leader in providing cutting-edge financial services.
-Lia XU, BTW reporter
What happened
Stripe, an US fintech giant, decided to partner with Newline to integrate payment, card, and deposit services directly with the bank. It can enhance Stripe’s embedded financial services offering. Newline is an API platform, partners with Fifth Third Bank. Fifth Third Bank’s Newline technology will power Stripe treasury and enable software businesses to provide embedded financial accounts to their customers. It’s important for ensuring compliant money movement solutions for platform clients and end users.
According to Fifth Third Bank, “This collaboration further enhances Stripe’s ability to deliver compliant embedded money movement solutions for their platform clients and their end users”.
Besides, Stripe also acquired Lemon Squeezy, a start-up specialising in automating various functions for software companies, including sales tax compliance, payments, subscriptions, billing, and more. Through these strategic moves and collaborations, Stripe is positioning itself as a key player in the fintech industry.
Also read: Stripe bolsters offerings with acquisition of Lemon Squeezy
Also read: How technology is transforming financial advisory services
Why it’s important
It is helpful for Stripe to expand the range of embedded financial services available to platform clients and end users, providing more comprehensive solutions for managing payments and deposits through this collaboration between Stripe and Fifth Third Bank’s Newline.
By leveraging Newline technology, Stripe can deliver compliant money movement solutions, ensuring that transactions meet regulatory requirements and security standards, which is essential for building trust with customers and operating within legal frameworks. Therefore, Stripe can stay ahead of competitors and remain a leader in providing cutting-edge financial services.
The integration of Newline technology into Stripe treasury enables software businesses to offer embedded financial accounts to their customers, enhancing the overall customer experience. This convenience and accessibility can attract more users to Stripe’s platform, fostering customer loyalty and satisfaction.
