FinanSeer Reduced Central Payments’ False-Positives by 68%

Founded in 2014 and headquartered in Sioux Falls, S.D., Central Payments offers its open*CP Fintech API Marketplace as one of the only true Banking-as-a-Service (BaaS) payments platforms with issuing capability embedded. BaaS has increasingly gained traction over the last couple of years as fintechs and other non-bank organizations increasingly look for ways to operate in the banking space without going through the complicated process of acquiring a charter.

It’s a way for banks to white label their regulated banking services (such as payments, financing, credit cards, etc.), and deploy them through a third party that manages the front-end customer experience. Central Payments recently announced a $30-million growth equity raise to further accelerate its rapid growth trajectory, so getting its programs to market and earning revenue became two key drivers.