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Following this announcement, the collaboration represents an important step in the company’s multi-bank partner strategy, which involves the process of partnering with multiple FDIC-insured financial institutions in order to provide security and the flexibility to serve firms at various stages of growth. In addition, both Mercury and Column will continue to focus on meeting the needs, preferences, and demands of clients and users in an ever-evolving market, while prioritising the process of remaining compliant with the regulatory requirements and laws of the industry as well. More insights on the Mercury x Column partnership When collaborating with a financial institution, Mercury conducts thorough diligence with potential bank partners in order to examine the soundness and progress of their business.
The banks need to be US-based and federally regulated, as well as to display a commitment to compliance and exhibit a strong financing position. Alongside the already existing bank partners of Mercury, Column is expected to provide users with checking and savings accounts, as well as optimised payment capabilities. These will include same-day ACH processing and the overall ability to accept non-USD wire transactions.
Throughout this strategic deal, Mercury and Column will continue to share bold product goals and the overall strategy of developing improved products and customer experiences. In addition, in order to ensure a secure and frictionless process, the companies will initiate a phased rollout in the following months, which will enable eligible clients to open accounts with Column. The partnership with Column marks the next step in the process of ensuring that Mercury clients have access to scalable baking solutions, while both financial institutions will continue to focus on accelerating the development of the market and the overall improvement of client satisfaction and experience.
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