feb (first electronic bank)

What feb (first electronic bank) does

First Electronic Bank (FEB) is a privately held, state-chartered, FDIC-insured industrial bank headquartered in Salt Lake City, Utah, that has operated continuously for over 20 years. It functions as a B2B sponsor bank, providing the regulated balance sheet, card issuance rails, lending infrastructure, and compliance umbrella that fintechs and non-bank lenders rely on to bring consumer and small-business credit products to market. FEB's stated service areas span consumer credit, small and medium business lending, buy-now-pay-later, point-of-sale financing, and card programs, with sponsorship across the Visa, Mastercard, and American Express networks.

The bank's core technology is the FEBTech platform, an API-accessible infrastructure layer intended to give sponsor-bank clients programmatic access to FEB's banking, card, and lending capabilities rather than treating the relationship as a manual back-office service. Underlying operations cover the full bank sponsor stack: BSA/AML and regulatory compliance, card issuing and program management, credit decisioning support, treasury, and community development lending under CRA obligations.

FEB earns revenue through the standard sponsor-bank mix: program management fees on partner programs, interchange on card transaction volume, net interest income on credit it originates and holds, and access or usage fees tied to the FEBTech API. Its customer base is composed of fintechs and product innovators, with named relationships including Imprint and Cardless on the branded-card side.

Name

feb (first electronic bank)

Legal name

First Electronic Bank

Website

https://firstelectronic.bank

Company type

Private

Founded year

2004

Operating status

Operating

Short description

First Electronic Bank is an FDIC-insured, state-chartered industrial bank in Salt Lake City that serves as a B2B sponsor bank for fintechs and lenders, providing card issuance, consumer and SMB credit, and API-accessible banking infrastructure under the FEBTech platform.

Ownership category

akta.pro rank

Product category

Sponsor Banking Services

NAICS

Commercial Banking (52211), Depository Credit Intermediation (5221)

SIC

State Commercial Banks (6022), Personal Credit Institutions (6141)

akta.pro primary industry

Virtual / Digital-First Credit Cards (FSAKABAK)

akta.pro secondary industries

Embedded Deposit Accounts & Digital Wallet Infrastructure (FSAGALAE), Fintech & Payments Partner / ISO Referral Networks (FSAEAMAK)

Keywords

• Sponsor bank services
• Card sponsorship programs
• Embedded finance infrastructure
• Fintech banking partnerships
• Industrial bank lending

Headquarters

HQ city

Salt Lake City

HQ country

United States

HQ region

North America

Offices2 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Technology or R&D, Operations, Others, Infrastructure, Marketing or Sales

Revenue model

1. Interest Income from Loan Origination: FEB originates and issues financial products including installment loans, credit cards, and small business credit. The bank earns interest income on its loan portfolio, having facilitated over $40B in loans originated over 20+ years.
2. Card Sponsorship Programs: FEB issues co-branded, private label, debit, credit, and prepaid card programs on behalf of fintech partners. Revenue is generated through card interchange fees, sponsorship fees from partners, and program management services. Supports Visa, Mastercard, and American Express issuance.
3. Partnership and Program Management Fees: Ongoing oversight, compliance support, and operational expertise provided to fintech partners launching financial products. Revenue derived from partnership fees for access to FEB's banking infrastructure, compliance capabilities, and regulatory expertise.
4. API Access and Technology Infrastructure: Direct API access to FEBTech platform enabling partners to build, operate, and scale financial products on compliant rails. Revenue generated through technology access fees and platform usage charges.

Go-to-market motion2 records

Distribution channels3 records

Marketing channels4 records

Core offering

First Electronic Bank (FEB) is a state-chartered, FDIC-insured industrial bank that operates as a sponsor bank for fintech companies, established lenders, and product innovators. The bank issues credit products (installment loans, small business credit), card sponsorship programs (co-branded, private label, debit, credit, prepaid on Visa, Mastercard, and American Express networks), and provides advisory-based banking services supported by the proprietary FEBTech platform with direct API access.

Product overview

First Electronic Bank operates as a state-chartered, FDIC-insured industrial bank offering a portfolio of financial products and services through its FEBTech platform. The core offerings include Consumer Credit Products, SMB & Lines of Credit Installment programs, Visa/Mastercard/AMEX Card Programs, Buy Now Pay Later (BNPL) solutions, and Point-of-Sale Financing. These products are supported by FEBTech, the company's modern financial infrastructure layer that provides API access for businesses to build, operate, and scale financial products. The bank serves as a sponsor bank partner for fintechs and lenders, providing compliant, scalable financial infrastructure.

Differentiator

Problem solved

Functional benefit

Products and services

• Card Sponsorship Programs Comprehensive card sponsorship programs for fintech partners, including co-branded, private label, debit, credit, and prepaid card programs issued across Visa, Mastercard, and American Express networks. Designed for fintech companies and product innovators seeking FDIC-insured card issuance without obtaining a bank charter.
• Consumer Credit Products Flexible consumer credit products supporting everyday spending and financial access for consumers across the credit spectrum (prime to subprime), issued through fintech partners and lenders.
• Small Business Lending Programs Scalable lending solutions for small and mid-sized businesses, including revolving lines of credit and installment programs, issued through fintech partnerships and established lenders.
• Buy Now Pay Later (BNPL) Modern BNPL solutions that help customers split payments while supporting responsible lending and program compliance, delivered through fintech partners under FEB's sponsor bank framework.
• Point-of-Sale Financing Point-of-sale financing solutions that enable flexible payments, higher conversion rates, and seamless customer experiences at the point of purchase.
• FEBTech Platform FEBTech is a proprietary financial infrastructure platform that enables fintechs, lenders, and embedded finance programs to build, operate, and scale financial products through direct API access. Supports money movement, credit programs, and fund management within a unified system with built-in automation and multi-rail settlement support.
• Banking Advisory and Partnership Services Consultative advisory support for fintech and lender partners including product strategy and design, compliance expertise, financing structures, and operational oversight covering the full product lifecycle from concept through launch to ongoing management.

Quantifiable outcome

• Over $40B in loans originated over 20+ years
• +2 more outcomes

Named customers2 records

Segments4 records

Ideal customer profiles2 records

Technology focussed Yes

API detail

Has API

Yes

API docs

API detail

Core technology

AI maturity

App detail

Feature4 records

Partnerships

Twelve partnerships are on record, tiered core and minor.

• Fintech CompaniescoreStrategic or Co-development PartnerFEB partners with forward-thinking fintech companies to issue financial services including installment loans, credit cards, BNPL, and embedded finance products. The partnership model spans product strategy collaboration, technology integration, and ongoing program management. Partners bring customer acquisition and product innovation while FEB provides the banking infrastructure, compliance framework, and regulatory backing.
• Established LenderscoreStrategic or Co-development PartnerFEB partners with established lenders to support small business credit programs, consumer lending, and other financial products. The bank brings compliance expertise, operational infrastructure, and access to banking rails that enable lenders to scale existing products and launch new offerings.
• Product InnovatorscoreStrategic or Co-development PartnerFEB collaborates with product innovators seeking to bring new financial products to market. The bank supports the entire product lifecycle—from initial concept through launch and long-term program management—providing the regulatory and operational framework needed for compliant product development.
• ImprintcoreChannel Partner/ Reseller/ DistributorImprint is a fintech company offering co-branded card programs. First Electronic Bank serves as the issuing bank for Imprint's card programs, providing FDIC-insured card issuance through its card sponsorship infrastructure. Imprint handles the consumer-facing product experience while FEB manages the banking and regulatory aspects.
• CardlesscoreChannel Partner/ Reseller/ DistributorCardless is a fintech company offering credit cards with cashback rewards. First Electronic Bank serves as the issuing bank for Cardless's credit card program. FEB provides the regulatory infrastructure, card issuance capabilities (Mastercard partnership), and compliance framework while Cardless focuses on product design and customer acquisition.
• CDFIs and Local NonprofitsminorStrategic or Co-development PartnerFEB collaborates with Community Development Financial Institutions (CDFIs) and local nonprofits to strengthen economic opportunities in Salt Lake County. Through investments, grants, and donations, FEB supports organizations that empower small businesses and foster community growth. Partner organizations include affordable housing initiatives and community development programs aligned with the Community Reinvestment Act.
• Guadalupe CenterminorStrategic or Co-development PartnerNonprofit organization serving the community. First Electronic Bank provided a grant to support the Early Learning Center, empowering young students and families.
• Junior Achievement of UtahminorStrategic or Co-development PartnerNonprofit organization providing youth education programs. First Electronic Bank provided investment to support Junior Achievement's In-Class programs, promoting youth entrepreneurship and financial literacy.
• First Step HouseminorStrategic or Co-development PartnerCommunity organization supporting individuals facing hardship or displacement. First Electronic Bank partners to provide financial literacy resources, stability programs, and support for those rebuilding their lives.
• VisacoreTechnology or IntegrationFEB issues Visa-branded card programs (credit, debit, prepaid) as an approved Visa issuer. The partnership enables fintech partners to offer Visa payment products through FEB's sponsorship infrastructure.
• MastercardcoreTechnology or IntegrationFEB issues Mastercard-branded card programs as an approved Mastercard issuer. The partnership enables fintech partners to offer Mastercard payment products through FEB's sponsorship infrastructure.
• American ExpresscoreTechnology or IntegrationFEB issues American Express-branded card programs as an approved Amex issuer. The partnership enables fintech partners to offer American Express payment products through FEB's sponsorship infrastructure.

Scale indicators6 records

Recent moves5 records

Expansion highlights4 records

Emerging players

• Piermont Bank: Piermont Bank is a newer commercial bank focused on fintech and BaaS partnerships. It is an emerging sponsor-bank competitor with overlapping product focus but a smaller track record than FEB.
• Marqeta: Marqeta is a card-issuing processor (not a bank) that powers many fintech card programs. While it does not compete with FEB on the regulated bank side, it is an adjacent enabler for similar fintech partners and competes for the same end-program business.

Direct peers

• Coastal Community Bank: Coastal Community Bank (Washington state-chartered) operates a BaaS division that supports fintech debit, credit, and lending programs. It competes directly with FEB in the partner-bank segment for fintech clients.
• WebBank: WebBank is a Utah industrial bank that originates loans for partner fintechs and serves as a sponsor bank for credit products. Its program-partnership model and industrial-bank charter make it a near-direct peer to FEB.
• Celtic Bank: Celtic Bank is a Utah industrial bank that is a major sponsor bank for fintech lenders and consumer credit programs. It is highly comparable to FEB given its industrial-bank charter, lending-program sponsorship, and partnership with fintechs.
• Cross River Bank: Cross River is a New Jersey state-chartered, FDIC-insured bank widely considered the leading sponsor bank for fintechs, lending and card programs. It is the most direct comparable to FEB by virtue of its BaaS franchise, card issuance, and consumer lending partnerships.
• Lead Bank: Lead Bank is a Missouri community bank that has built a BaaS unit sponsoring fintech debit, credit, and lending programs. It is a growing direct competitor in the same sponsor-bank / embedded-finance niche as FEB.
• Sutton Bank: Sutton Bank is an Ohio-chartered, FDIC-insured bank that serves as a sponsor bank for prepaid, debit, and credit programs (e.g., PayPal, various fintechs). It is one of the most direct sponsor-bank peers to FEB, with similar card-issuance and partner-bank model.

Broad incumbents

• Green Dot Bank: Green Dot Bank is a Utah-chartered bank that issues prepaid and debit cards and partners with fintechs. It is a broader incumbent in card issuance and embedded finance, with overlapping product categories (prepaid, debit, credit) to FEB.
• Comenity Capital Bank: Comenity Capital Bank is a privately held bank that issues branded credit cards and partners with retailers. It is a broader incumbent in private-label and co-branded card issuance, with many shared customers in the fintech credit-card space.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• LinkedInlinkedin.com/company/first-electronic-bank

Revenue estimate

Valuation estimate

Number of profiles

Profiles10 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about feb (first electronic bank)