Kotapay Unveils Kavinu at Money20/20 USA

Kotapay, a division of First International Bank & Trust (FIBT), has launched Kavinu, a direct-to-bank banking-as-a-service (BaaS) platform. Kavinu eliminates the instability often found in middleware-reliant BaaS models by connecting financial innovators directly with an experienced bank partner, already proficient in electronic payments at scale.

“Kavinu allows us to enhance the partner model with proprietary products and services for our existing client base of over 3,300 payroll providers, and ultimately for the millions of employees whose payroll is processed by Kotapay each month,” said Trent Sorbe, Chief Payments Officer at FIBT.

Sorbe highlighted the platform’s ability to address the fragmentation of traditional middleware models, adding, “Kotapay is uniquely positioned to lead the next evolution in banking as a service. Kavinu’s technical infrastructure and team have been processing large-scale electronic transactions for over 30 years.”

Kavinu, built on Kotapay’s cloud-native, API-driven payments infrastructure, is projected to process over $120 billion in settlement volume and 60 million transactions by the end of 2024. The platform’s rail-agnostic APIs offer rapid speed to market and significant revenue potential through a single relationship with FIBT, one of the nation’s strongest community banks.

Kotapay also plans to launch proprietary products in 2025, aimed at serving the 2.5 million consumers receiving payroll through its platform.

For more details on Kavinu, visit www.kotapay.com/kavinu.