Thread Bank, a wholly owned subsidiary of Thread Bancorp and an FDIC-insured bank providing nationwide embedded and digital banking services along with local community banking in Eastern Tennessee, has partnered with LoanPro to modernize its lending operations.

This partnership involves LoanPro’s API-first lending and credit platform, which will power the origination, servicing, and payment process for Thread Bank’s lending solutions. The integration of LoanPro into Thread Bank’s technology stack will act as a system of record, standardizing data across different programs and centralizing loan management operations.

Centralizing Lending Operations

Thread Bank selected LoanPro due to its modern approach to handling various types of loans and credit accounts, the team’s expertise, and their consultative approach during implementation. The platform will enable Thread Bank to deliver lending and credit products through a modern suite of APIs to embedded partnerships.

The partnership will standardize both internal community bank lending programs and external embedded finance lending programs, serving as a unique model for sponsor banking data. This ensures faster innovation while maintaining compliance.

Enabling Modern Lending Infrastructure

This collaboration is pivotal to LoanPro’s mission of modernizing lending and credit infrastructure for forward-thinking financial institutions. By working together, the companies aim to create better embedded finance experiences tailored to meet the evolving needs and demands of their clients and partners.

The initiative aligns with Thread Bank’s strategic move towards opening new headquarters in Nashville, which will serve as a Loan and Deposit Production Office (LPO/DPO) for the bank.