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First International Bank & Trust (FIBT) Makes Strategic Investment in Advantage Payment Services as Part of Kavinu Platform’s Continued Build-Out

Advantage Payment Services to become embedded provider of transaction dispute management and customer identity verification for bank-direct Kavinu platform

Kotapay, a division of First International Bank & Trust (FIBT), today announced Advantage Payment Services (APS), the leader in regulatory technology for top fintech payments organizations, has become the preferred provider of transactions dispute management and customer identity verification for its Kavinu platform. The deal follows a strategic equity investment by FIBT in APS, signaling the 115-year-old community bank’s commitment to next-generation financial technology and risk management.

“We built Kavinu as a next-generation banking as a service platform, providing financial innovators with a not only a direct connection to an experienced banking partner but also best-in-class providers like APS,” said Trent Sorbe, Chief Payments Officer at FIBT. “We will continue to look for opportunities to make similar strategic investments in companies that align with our strategy to power secure, compliant payments products, leverage artificial intelligence where prudent, and accelerate speed-to-market under our ‘One Contract. One Connection’ commitment.”

As one of Kotapay’s preferred providers, the APS Dispute Advantage platform, a scalable, configurable, regulatory compliant workflow solution, will be integrated into the Kavinu platform. Clients using Kavinu will now benefit from the deep regulatory expertise offered by FIBT and the AI and machine learning capabilities of APS to empower real-time risk management decisioning.

“Navigating the complex regulatory landscape must remain a critical priority for banks and fintechs,” said Dave Campbell, CEO at APS. “We’re proud to be a part of Kotapay’s vision to reinvent the traditional banking as a service model, driving responsible fintech innovation.”

Furthering the strategic partnership between the North Dakota-based companies, FIBT’s Chief Payments Officer Trent Sorbe, and Chief Operating and Strategy Officer Michael Toy have joined APS’ Board of Directors.

To learn more about Kavinu, visit www.kotapay.com/kavinu.

About Kotapay

Kotapay is an electronic payment solutions provider based in Fargo, North Dakota. Since our founding in 1993, we have provided fast, accurate, and secure electronic payment services to more than 107,000 companies in all 50 states and Puerto Rico. Kotapay is owned by First International Bank & Trust (FIBT), a high-performing, regulated bank with more than $5 billion in assets. We provide services to a multitude of industries including payroll providers, accountants, non-profits, healthcare, utility companies, and more. Learn more at www.kotapay.com/kavinu.

About First International Bank & Trust

First International Bank & Trust (FIBT) is a full-service, family-owned community bank serving communities across North Dakota, South Dakota, Arizona, and Minnesota. Founded in 1910 as Farmer’s State Bank in Arnegard, ND, FIBT’s foundation was built on the bond between its employees and customers. Today, FIBT remains committed to that personal touch by remaining local, caring for customers, and staying involved in their communities. Learn more by visiting FIBT.com.

About Advantage Payment Services

Advantage Payment Services (APS) is the leader in regulatory technology for banking, payments, and Fintech brands. APS built a highly configurable, secure, cloud-native platform that integrates identity verification, dispute case management, transaction risk monitoring, and digital document management seamlessly into existing business processes, enabling clients to scale these critical functions as they grow. APS is privately held and based in Fargo, North Dakota. For more information about APS, please visit www.advantagepaymentservices.com.