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Global Rewards Partners with The Bancorp to Advance the Offerings of its Corporate Spend Platform
Rhea-AI Impact
(Neutral)
Rhea-AI Sentiment
(Very Positive)
Tags
partnership
Rhea-AI Summary
Global Rewards has announced a partnership with The Bancorp (NASDAQ:TBBK) to enhance corporate disbursement and employee spending solutions. This collaboration aims to provide clients with real-time visibility into spending, thus improving their financial management. The Bancorp, a leader in prepaid card issuance with over $300 billion in annual payment processing, will support Global Rewards in delivering innovative solutions tailored to their customers' needs. The partnership is expected to strengthen Global Rewards' growth and operational efficiency.
Positive
Partnership with The Bancorp enhances service offerings and growth potential.
Real-time visibility into spending improves clients' financial wellness.
The Bancorp is a significant player in prepaid card issuance, supporting Global Rewards' mission.
Negative
None.
LAKEWOOD, N.J.--(BUSINESS WIRE)--
Global Rewards, a leading financial technology company serving businesses of all sizes, is pleased to announce a newly-formed partnership with The Bancorp, Inc. (NASDAQ:TBBK) and its subsidiary The Bancorp Bank. This collaboration allows Global Rewards to continue its mission to simplify corporate disbursement and employee spend and comes at a time when businesses are striving for more automation and better controls over their spending practices. By working with The Bancorp, clients of Global Rewards will have real time visibility into their spending activity, thereby strengthening the overall financial wellness of their business.
“Global Rewards has proven itself adept at providing compelling solutions for the business needs of its customers,” said Matt Carberry, Managing Director, Head of Partner Strategy, The Bancorp. “We are excited to support the growth of this organization as it continues its work of providing advantaged corporate payments.”
The Bancorp provides tailored solutions through its Fintech Solutions division and has become a top issuer of prepaid cards meeting a wide range of business needs. The company accounts for over $300 billion combined annual payments processing volume and over 150 million active cardholder accounts in U.S. distribution.
“At Global Rewards, we are committed to building an innovative platform that works towards solving industry specific needs. Ensuring that our banking partner can support the level of growth we continue to see, is key to our success. We look forward to our partnership with The Bancorp as we continue to innovate and build out the future of corporate spend,” said Isaac Itzkowitz, Founder and CEO of Global Rewards.
About Global Rewards
Global Rewards LLC, headquartered in NJ provides payment and technology services to businesses of all sizes to meet their unique payment methods, and spend patterns. Our solution encompasses all levels of a corporate entities’ spending, from their Corporate and T&E cards, to their AP spend solutions, bundling them all into an efficient and automated platform. With businesses continuously vying for better spend controls, our platform offers our clients real time visibility into managing and controlling their spend, ultimately benefiting their bottom line. For more information about Global Rewards, please visit https://globalrewardsusa.com
About The Bancorp
The Bancorp, Inc. (NASDAQ: TBBK), headquartered in Wilmington, Delaware, through its subsidiary, The Bancorp Bank, provides non-bank financial companies with the people, processes, and technology to meet their unique banking needs. Through its Fintech Solutions, Institutional Banking, Commercial Lending, and Real Estate Bridge Lending businesses, The Bancorp provides partner-focused solutions paired with cutting-edge technology for companies that range from entrepreneurial startups to Fortune 500 companies. With over 20 years of experience, The Bancorp has become a leader in the financial services industry, earning recognition as the #1 issuer of prepaid cards in the U.S., a nationwide provider of bridge financing for real estate capital improvement plans, an SBA National Preferred Lender, a leading provider of securities-backed lines of credit, with one of the few bank-owned commercial vehicle leasing groups. By its company-wide commitment to excellence, The Bancorp has also been ranked as one of the 100 Fastest-Growing Companies by Fortune, a Top 50 Employer by Equal Opportunity Magazine, and was selected to be included in the S&P Small Cap 600. For more about The Bancorp, visit https://thebancorp.com/.
This news release contains “forward-looking information” and “forward-looking statements” within the meaning of applicable securities laws (the “forward-looking statements”), within the meaning of applicable Canadian securities legislation. Forward-looking information is not a guarantee of future performance or results, since it involves risks and uncertainties. There is no assurance that forward-looking statements will prove to be accurate, and actual results and future events could differ materially from those anticipated in forward-looking statements. Some of the factors on which the forward-looking statements are premised include (but are not limited to) the satisfaction or waiver of the conditions to the completion of the private placement, the receipt of the approval of the Canadian Securities Exchange, and the lack of material changes to general economic, market and business conditions. The CSE has not approved nor disapproved the contents of this press release, and the CSE does not accept responsibility for the adequacy or accuracy of this release.
Media Relations
Rachel Weiss, VP Communications Manager
The Bancorp
(302) 385-5410
rweiss@thebancorp.com
Investor Relations
Andres Viroslav, Director of Investor Relations
The Bancorp
(215) 861-7990
aviroslav@thebancorp.com
Source: Global Rewards LLC
FAQ
What is the recent partnership announcement involving The Bancorp (TBBK)?
Global Rewards announced a partnership with The Bancorp to enhance corporate spending solutions and provide clients with real-time visibility into their spending.
How does the partnership with The Bancorp benefit Global Rewards?
The partnership allows Global Rewards to improve financial management for clients through enhanced disbursement tools and increased automation.
What is The Bancorp known for in the financial technology space?
The Bancorp is recognized for its extensive prepaid card issuance and processing capabilities, handling over $300 billion in annual payment processing.
When was the partnership between Global Rewards and The Bancorp announced?
The partnership was announced in a press release on February 8, 2022.
