Portfolio company Extend's partnership with City National to be its virtual card distribution platform was a highlighted partnership. City National customers can instantly send virtual cards to employees (and distributed team members) to pay for business expenses.
Vendor/Customer: Many of the partnerships in the industry are like more traditional vendor relationships. These integrations call for close collaboration and frequently require a fintech firm to create bespoke features for their new banking clients. The bank, for its part, then hitches its own wagon to its new fintech vendor and its product roadmap.