- Press Release
Thread Bancorp, Inc. and EY Champion Responsible Growth and Risk Management in Embedded Banking
- threadbank_editor
Collaboration provides Thread Bank with perspective and resources to scale, and the nimbleness to solve complex challenges in an ever-changing environment
Thread Bancorp, Inc. and Thread Bank (together, “Thread”) and Ernst & Young LLP (EY) have joined forces to strengthen the future of embedded banking at Thread Bank – and serve as a model for other community banks – focusing on responsible growth and effective risk management. In an exclusive video spotlight, Chris Black, CEO, President and member of the Board of Directors of Thread and Michael Winter, Partner, Risk Consultant at EY, share actionable strategies to navigate the complexities of this rapidly evolving sector. This collaboration underscores the organizations’ commitment to modernizing traditional community banking with innovative solutions that drive success while safeguarding against emerging risks.
This video, part of a larger case study involving Thread Bank and EY’s collaboration, highlights the significant impact of community banks partnering with FinTechs to provide for the evolving needs of consumers and small businesses. By leveraging the right partnerships, these smaller, yet crucial, banks can provide a seamless and personalized experience while maintaining a commitment to regulatory compliance.
“At Thread Bank we are committed to taking a risk management-first approach to banking, which ultimately enables and unlocks innovative progress,” Black remarked. “Our strategic engagement with EY helps power our commitment to driving responsible innovation that not only meets the changing needs of our customers, but also aligns with regulatory expectations. Working with a trusted global brand like EY has brought us the perspective and resources needed to scale our compliance efforts while maintaining the nimbleness that allows us to solve challenging risk management problems.”
Through strategic partnerships, banks and FinTechs can collectively drive responsible innovation, ensuring growth and resilience in an increasingly digital financial landscape. As Thread continues to evolve, the Bank remains committed to maintaining regulatory requirements and best practices, working closely with our strategic partners to do so.
“The future of banking lies in the ability to deliver innovative, seamless solutions through strategic engagements,” said Winter. “By empowering institutions like Thread Bank to embrace embedded banking and Banking as a Service (BaaS), we’re helping to drive responsible growth, mitigate emerging risks, and ensure scalability—all while maintaining the highest standards of compliance in an increasingly complex financial landscape.”
Discover how EY and Thread Bank began working together to address the bank’s need for scalable, adaptable regulatory compliance solutions, and how the success of their initial partnership has led to a long-term relationship focused on supporting Thread’s compliance program as the Bank continues to grow. Read the full case study and watch the video here to gain insights into their collaborative strategies and learn why this collaboration is shaping the future of embedded banking.
To learn more about Thread Bank, please visit www.thread.bank.
About Thread Bank
Thread Bank, a wholly owned subsidiary of Thread Bancorp, Inc., is an FDIC-insured bank providing embedded and digital banking services nationwide and local community banking in Eastern Tennessee. To learn more about Thread Bank, visit thread.bank and connect with them on LinkedIn.
Media Contact
Caliber Corporate Advisers
threadbank@calibercorporateadvisers.com