First Electronic Bank
First Electronic Bank is a state-chartered, FDIC-insured industrial bank in Salt Lake City, Utah that serves as a sponsor bank for fintechs and brands to issue credit cards, installment loans, and small business credit products across Visa, Mastercard, and AmEx networks.
- Company typePrivate
- Founded2005
- HeadquartersSalt Lake City, United States
- Headcount51–100
- GTM typeB2B
- OfferingServices
What First Electronic Bank does
First Electronic Bank is a state-chartered, FDIC-insured industrial bank headquartered in Salt Lake City, Utah, founded circa 2000/2005 (sources conflict on founding year) and operating for over 20 years. The bank functions as a sponsor bank for fintechs and brand partners, providing the regulated banking infrastructure, compliance expertise, and program management capabilities required to issue consumer and commercial financial products. Its portfolio spans credit card issuance across Visa, Mastercard, and American Express networks, installment loans, and small business credit products, with the bank positioned across the credit spectrum from prime to subprime consumers.
The bank's core platform offers co-branded programs (with brand partners such as Fanatics, Coinbase, Turkish Airlines, Booking.com, Holiday Inn Club Vacations, Simon, and Fetch), private label programs, and debit/credit/prepaid products across consumer and commercial segments. Primary fintech program managers include Cardless and Imprint, through which most card issuance is operated. Recent product extensions include crypto rewards on the Coinbase One Card, USDC-backed credit access, borrowing against staked Solana (JitoSOL), and BNPL via Afterpay on the Cash App Card. Distribution is exclusively B2B via partnerships rather than direct-to-consumer.
FEB generates revenue through three primary streams: interest income on originated loans (credit cards, installment, small business credit), card sponsorship and issuance fees from co-branded programs operating on Visa/Mastercard/Amex rails, and partnership services fees covering compliance, operations, and financing structure support. The bank has originated $40B+ in loans cumulatively and operates with 51-100 employees. Recent operational moves include a pilot of Spring Labs' AI-native compliance platform and continued expansion of card-network relationships, particularly with American Express.
First Electronic Bank firmographics
Firmographics- Name
- First Electronic Bank
- Legal name
- First Electronic Bank
- Website
- https://firstelectronic.com
- Company type
- Private
- Founded year
- 2005
- Operating status
- Operating
- Headcount range
- 51–100 employees
- Short description
- First Electronic Bank is a state-chartered, FDIC-insured industrial bank in Salt Lake City, Utah that serves as a sponsor bank for fintechs and brands to issue credit cards, installment loans, and small business credit products across Visa, Mastercard, and AmEx networks.
- Ownership category
- akta.pro rank
First Electronic Bank industry classification
Industry- Product category
- Sponsor Banking Services
- NAICS
- Savings Institutions and Other Depository Credit Intermediation (522180)
- SIC
- State Commercial Banks (6022)
- akta.pro primary industry
- Embedded Card Issuing & Card-as-a-Service (FSAGALAC)
- akta.pro secondary industries
- Embedded Lending & Credit (POS, Working Capital, Credit Lines) (FSAGALAD), Risk, Compliance & Controls for Embedded Finance (KYB/KYC/AML, Fraud, Disputes) (FSAGALAK), Digital Banking & Neobank Platforms (BPAMAFAD)
Keywords
Where First Electronic Bank is headquartered
LocationHeadquarters
- HQ city
- Salt Lake City
- HQ country
- United States
- HQ region
- North America
Offices1 record
Markets served
First Electronic Bank business model
Business model- GTM type
- B2B
- Offering type
- Services
- Cost components
- Personnel, Operations, Compliance, Technology or R&D, Marketing or Sales, Infrastructure
Revenue model
- Interest Income on Loans: First Electronic Bank generates revenue through interest income on originated loans including credit cards, installment loans, and small business credit products.
- Card Sponsorship and Issuance Fees: Revenue from co-branded credit card partnerships with fintechs, including fees from issuing Visa, Mastercard, and American Express branded cards.
- Partnership Services: Provides financing structures, operations support, and compliance expertise to fintech partners, generating fees for these services.
Go-to-market motion2 records
Distribution channels3 records
Marketing channels2 records
First Electronic Bank product offering
Product offeringCore offering
First Electronic Bank is a state-chartered, FDIC-insured industrial bank that acts as a sponsor bank for fintechs, brands, and lenders. It issues co-branded and private label credit cards across Visa, Mastercard, and American Express networks, and provides installment loans and small business credit products. The bank delivers the regulated banking infrastructure, compliance expertise, execution, operations support, and financing structures that enable partners to bring compliant, scalable financial products to market.
Product overview
First Electronic Bank is a state-chartered, FDIC-insured industrial bank that issues a portfolio of co-branded credit cards through fintech partners Cardless and Imprint, along with various lending products. The core offering consists of card sponsorship programs (Visa, Mastercard, Amex issuance) and lending products. Credit card offerings span multiple segments: travel (Turkish Airlines Miles&Smiles, World of Westgate, Holiday Inn Club Vacations, Booking.com Genius Rewards), retail (Simon American Express Card, Fetch American Express Card), sports (Fanatics American Express Credit Card), and crypto (Coinbase One Card). Lending products include installment loans and small business credit. The bank serves as the issuing bank partner while fintech partners handle card management and program operations.
Differentiator
Problem solved
Functional benefit
Products and services
- Card Sponsorship Programs
- Installment Loans
Quantifiable outcome
- $40B+ in loans originated over 20 years
- +1 more outcomes
Companies that use First Electronic Bank
Customer profileNamed customers9 records
Segments5 records
Ideal customer profiles3 records
First Electronic Bank technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Feature2 records
First Electronic Bank partnerships and signals
Strategic signalPartnerships
Six partnerships are on record, tiered core and minor.
- FanaticscoreFanatics and American Express partnership to launch co-branded credit card later in 2026. Card issued by First Electronic Bank, managed by Imprint. Earns FanCash rewards redeemable within Fanatics ecosystem. American Express targeting sports fans representing approximately 80% of U.S. cardholders.
- ImprintcoreImprint serves as the card manager/servicer for co-branded credit cards issued by First Electronic Bank, including the Fanatics American Express card.
- American ExpresscoreAmerican Express as Official Payments Partner across select Fanatics retail and online locations globally. Co-branded credit card launch planned. AmEx Membership Rewards members will gain ability to transfer points to FanCash. Partnership leverages Fanatics ecosystem of over 100 million fans and builds on AmEx sports portfolio spanning 50+ leagues, teams, and events.
- CoinbasecoreFirst Electronic Bank issues the Coinbase One Card, launched October 2025. This crypto rewards card enables Coinbase users to access financial products through the card network.
- CardlesscoreCardless is a credit card fintech that enables brands to manage credit card programs directly in their ecosystems. First Electronic Bank issues co-branded cards through Cardless, including Turkish Airlines Miles&Smiles, World of Westgate, Holiday Inn Club Vacations, and Booking.com Genius Rewards cards.
- WebBankminorWebBank is mentioned as a fellow pilot customer for Spring Labs' AI-native compliance platform alongside First Electronic Bank.
Scale indicators4 records
Recent moves6 records
Expansion highlights5 records
First Electronic Bank competitors and assessment
Company assessmentDirect peers
- Stride Bank: Stride Bank is an Oklahoma-chartered bank that partners with fintechs for prepaid, debit, and credit card programs, including crypto-linked cards. It is comparable to FEB as a multi-rail sponsor bank serving fintech and brand partners.
- Cross River Bank: Cross River Bank is a New Jersey-chartered commercial bank that provides sponsor banking, lending, and payments infrastructure to fintechs and brands. It is a direct competitor in the embedded card issuing and lending-as-a-service space, with a larger balance sheet and broader consumer fintech footprint.
- Coastal Community Bank: Coastal Community Bank operates a Bank as a Service / sponsor bank unit that issues cards and provides embedded lending for fintech partners. It competes with FEB in program-managed credit and debit card issuance.
- WebBank: WebBank is a Utah-chartered industrial bank that acts as a sponsor bank for fintech and brand-led credit card, installment, and BNPL programs. It is the closest direct peer to FEB, often competing for the same co-branded card and embedded lending mandates; the two are even cited together as pilot customers on Spring Labs' compliance platform.
- Sutton Bank: Sutton Bank is an Ohio-chartered bank widely used as a sponsor bank for prepaid, debit, and credit card programs (notably with fintechs like Green Dot, PayPal, and various reward card programs). It is a direct peer in co-branded and program-managed card issuance.
- Celtic Bank: Celtic Bank is a Utah-based industrial bank specializing in sponsor banking for fintechs, including private label and co-branded credit cards and point-of-sale lending. It competes head-to-head with FEB for embedded finance programs in cards and installment lending.
Emerging players
- Column (Column Bank): Column is a national, API-first bank built for fintechs and developers, providing sponsor banking, ACH, and card infrastructure. It is an emerging alternative sponsor bank competitor focused on a developer/platform model.
- Lithic: Lithic provides card issuing infrastructure and APIs for fintechs, including sponsor-bank-backed programs. It overlaps with FEB's domain as an enabling layer for embedded card programs but is not a direct sponsor bank.
- Stripe Issuing: Stripe Issuing is an embedded card-issuing API from Stripe, allowing platforms to create and manage virtual and physical card programs. It is comparable as part of the broader embedded card ecosystem but operates at the platform/processor tier with partner sponsor banks rather than as a bank itself.
- Marqeta: Marqeta is a card-issuing platform (modern card-as-a-service) that powers fintech and brand cards via API, often pairing with sponsor banks. It is comparable as an enabling layer in the same card issuance ecosystem FEB operates in, though at the processor/platform tier rather than the bank.
Market position
Strengths4 records
Weaknesses4 records
Competitive moat5 records
Key risks6 records
Key highlights6 records
Customer concentration
First Electronic Bank social profiles
Digital presenceFirst Electronic Bank compliance and trust
Trust signalCompliance1 record
First Electronic Bank financial estimates
Financial estimateRevenue estimate
Valuation estimate
First Electronic Bank leadership team
Management profileNumber of profiles
Profiles1 record
First Electronic Bank funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
First Electronic Bank M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about First Electronic Bank
What does First Electronic Bank do?
First Electronic Bank is a state-chartered, FDIC-insured industrial bank that acts as a sponsor bank for fintechs, brands, and lenders. It issues co-branded and private label credit cards across Visa, Mastercard, and American Express networks, and provides installment loans and small business credit products. The bank delivers the regulated banking infrastructure, compliance expertise, execution, operations support, and financing structures that enable partners to bring compliant, scalable financial products to market.
Is First Electronic Bank a public or private company?
First Electronic Bank is a private company. It is classified as unknown and is currently operating.
When was First Electronic Bank founded?
First Electronic Bank was founded in 2005. It employs 51 to 100 people.
Where is First Electronic Bank based?
First Electronic Bank is headquartered in Salt Lake City, United States, in the North America region.
How does First Electronic Bank make money?
Three revenue lines are on record. Interest Income on Loans are the primary driver. The others are card Sponsorship and Issuance Fees and partnership Services.
Who are First Electronic Bank's main competitors?
Direct peers on record are Stride Bank, Cross River Bank, Coastal Community Bank, WebBank, Sutton Bank and Celtic Bank. Emerging players are Column (Column Bank), Lithic, Stripe Issuing and Marqeta.
Does First Electronic Bank have an API?
No public API is recorded for First Electronic Bank.
What industry is First Electronic Bank in?
First Electronic Bank's product category is Sponsor Banking Services. Its primary akta.pro industry code is FSAGALAC, Embedded Card Issuing & Card-as-a-Service, with a secondary code of FSAGALAD, Embedded Lending & Credit (POS, Working Capital, Credit Lines). Its NAICS code is 522180 and its SIC code is 6022.