Lithic, the card issuer processing platform powering next-generation financial experiences, today announced a partnership with Stearns Bank, a well-capitalized, Minnesota-headquartered financial services institution with over a century of experience and customers nationwide.  This collaboration expands Lithic's enterprise-grade card program capabilities, enabling fintechs to launch comprehensive consumer and commercial card programs with trusted infrastructure.

Through this partnership, Stearns Bank will serve as BIN sponsor across major payment networks for Lithic's program-managed services. Stearns Bank brings over 100 years of national banking expertise and a mission rooted in economic empowerment for all, making it an ideal partner to support Lithic's growing roster of fintech and enterprise clients seeking scalable, compliant payment and banking infrastructure.

Stearns Bank's national reputation for delivering, tailored, relationship-focused banking services and its emphasis on serving communities often overlooked by larger financial institutions make it a strong partner for Lithic's program management platform. The bank's strategic approach to fintech enablement, combined with its robust regulatory and compliance framework, provides the foundation for scalable, reliable card issuing infrastructure that helps their customers succeed.

“The best partnerships are built on shared values, not just shared capabilities. Lithic’s commitment to democratizing access to modern card and payment infrastructure aligns with Stearns Bank’s mission of empowering people and businesses to achieve their financial goals,” said Patrick Slain, VP, Director of Fintech at Stearns Bank. “Together, we’re creating pathways for fintechs to build innovative, compliant products that drive inclusive growth and meaningful economic impact.”

The partnership delivers enterprise-ready capabilities for fintechs, including the ability to:

• Launch comprehensive card program suites: Access program management for credit, debit, and prepaid programs across both consumer and commercial markets through a single platform.
• Process with direct Federal Reserve access: Utilize direct-to-Fed ACH processing and FedWire capabilities for fast, efficient money movement without legacy core banking dependencies.
• Scale with robust compliance infrastructure: Leverage comprehensive compliance and risk management frameworks supported by Stearns Bank's regulatory expertise.
• Streamline operations end-to-end: Benefit from Lithic's onboarding, processing and settlement services designed to reduce time-to-market for innovative payment products.
• Delegate program services to experts: Access comprehensive program services including disputes and chargebacks, 24/7/365 cardholder support with IVR, fraud monitoring, and risk management.
• Build on enterprise-grade infrastructure: Deploy card programs with the reliability, observability and control that high-growth technology companies demand.

The partnership delivers expanded services available to businesses across the United States.