Open Banking

Payment Processing Solutions is now Open Banking

Evolve is a Bank.

Evolve Bank & Trust Open Banking is recognized as a global leader in the Payment Processing industry delivering solutions and unique technology strategies to clients. We are a power player in payments without being a big box bank. We understand the twists and turns in the financial industry, and most importantly, we know consumer needs change constantly. Today’s End Users expect speed, efficiency and security in every transaction and the flexibility to choose transaction methods that work for them. The payments industry is evolving daily and so are we.


We primarily work with three groups: Third Parties, Platforms (Merchants & FinTechs), and End Users. 

Third Parties

Third Parties have a direct relationship with Evolve and may be any of the following types:

a. Independent Sales Organization (ISO)
b. Third Party Payment Processor (TPPP)
c. Third Party Sender (TPS)
d. Aggregator


A Company that wants to utilize Evolve solutions for their End Users.

May be one of the following types:

a. FinTech
b. Merchant

End Users

Typically authorizes Evolve to open accounts through a Platform’s onboarding process.

May be one of the following types:

a. Consumer
b. Business


Why Evolve?


Evolve has a rich history grounded in putting the best interest of people and community first. We started in 1925 as a small bank helping develop a rural town in Arkansas. Since then, we’ve evolved as a fullservice bank and a member of the FDIC, providing financial security in all we do. Our relationships run deep– we’ve been in business for nearly a century and counting. Our banking knowledge runs wide– we help you help your End Users.


Our priority is to get you to market as fast as possible. We know that the financial industry is fast-changing. Our dedicate departments are committed to bringing your unique use-cases to life.


We are constantly developing APIs to power financial solutions that support a broader range of FinTech use cases. Evolve’s continuous development is perfectly geared to produce flexible solutions, creating new financial opportunities for your End Users.

Our Solutions. Evolved.

Evolve sponsors Platforms into major payment networks, including MasterCard and Visa, as well as processes payments. Our API-driven solutions enable End Users to send and receive funds through products such as Cash Pick Up, Push to Card, Remote Payment and Presentment Service (RPPS) and more. Our solutions also allow FinTechs and ISOs to extend unique App and Point of Sale (POS) experiences to their End Users.

Below is our current list of solution offerings:

An account, such as a checking or savings account, where deposited funds can be withdrawn at any time.
An account that enables a Third Party or Platform to manage the assets of multiple sub-accounts for multiple End Users; the Third Party or Platform does not own the funds of the End Users.
An account created with Evolve where the End User relationship is managed through a Platform. These are subaccounts of an Omnibus account.


If a Platform provides a regulated financial service in the US, they are required to verify certain information about their customers. Our solution gives them the information they need to help build a secure Customer Identification Program (CIP) for their individual and business clients.

          Individual – The Know Your Customer (KYC) process involves collecting and verifying data about a customer’s identity. This process mitigates fraud and creates unique customer profiles.

          Business – The Know Your Business (KYB) process involves collecting and verifying data about the nature of businesses and the owners. This process verifies data and creates a record with the bank.


A method of retrieving funds from a card transaction via card networks by processing card data collected by an app, POS system, or eCommerce site.


          Push To Card – Allows Platforms to “send” funds directly to consumers and small businesses via an End User’s card account.

         POS and eCommerce – This solution represents a traditional card purchase transaction (or pull transaction). The End User’s card and verification data are collected by the Platform and used to initiate a pull transaction across one of the card networks. The card data and verification can be collected from a POS system or an eCommerce application.

          Cash Pick Up – Enables End Users to instantly access cash at any enabled ATM using only their phone number and transaction code to receive funds. A credit/debit card, bank account or mobile app is not required for pickup.

          RPPS (Remote Payment and Presentment Service) – A method of paying bills to about 95% of industry service providers in the U.S. through an electronic payment network. This solution provides customers one-stop access to comprehensive electronic routing, settlement services, billing, and Online research tools.

          Network Sponsorship – In order to gain access to networks, Platforms and Third Parties must be sponsored in by a bank. Once they are sponsored into a network, the Platform or Third Party can use programs that leverage the network’s resources. We sponsor into Debit, Credit, and ATM networks for both PINned and PINless transactions. Our sponsorship networks include MasterCard, Visa, Star, NYCE, Accel, CU Alliance, as well as regional networks.



Evolve issues both Debit and credit cards into the various card networks.

Card Services

An exchange of funds between accounts of different banks through the ACH network, where one bank originates the transfer and the other receives the transfer.
Enables Platforms to print and deliver checks to End Users (consumers and businesses).
Enables clients to make deposits by taking a picture of a check using an Evolve web capture platform or submitting an x937 file captured via desktop scanner.
Allows businesses to debit or credit cash funds to their Evolve accounts. These funds are transferred between the business location and the nearest Evolve vault by armored car service. The armored car service must be licensed to pick up funds from Federal Reserve Bank locations.
An electronic transfer of funds from a network of banks and transfer agencies. Provides faster processing speeds than ACH transactions, and domestic wires settle on the same day if created before bank cutoff times. Ideal for sending large dollar amounts.

Our Memberships

Evolve is a Principal member of both MasterCard® and Visa®, and has relationships with all primary, regional networks.

MasterCard® is a registered trademark of MasterCard International Incorporated. Visa® and Visa Signature® are registered trademarks of Visa International Service Association and used under license.

In The News

Advisory Board

Ryan Gilbert
Founder and General Partner, Launchpad Capital

Ryan is a founder and investor with over 20 years of global financial services expertise spanning payments, remittances, credit, security, and compliance. He is founder of Launchpad Capital, a venture capital firm focused on early-stage Fintech investing and company building. He is also co-sponsor and CEO Special Purpose Acquisition Companies focused on finance and technology, including FTAC Olympus Acquisition Corp (NASDAQ: FTOC) and FTAC Parnassus Acquisition Corp (NASDAQ: FTPA). Ryan is a former General Partner of Propel Venture Partners Fund 1 and currently serves on the boards of Charlie Finance, Ease, Guideline, Grabango and Steady. Ryan is the executive chairman of SmartBizLoans, a small business lending marketplace that he founded as an entrepreneur-in-residence at Venrock; a director of bKash, Bangladesh’s leading remittance network; a director of the Reserve Trust Company; and a director of River City Bank in Sacramento. His prior roles include co-founder and CEO of real estate payments company PropertyBridge (acquired by MoneyGram International), an early investor in Eventbrite, and a founding advisor to Square. Ryan graduated from the University of the Witwatersrand in Johannesburg, South Africa, and is member of the State Bar of California.

Shamir Karkal
Co-Founder and Chief Executive Officer, Sila

A true FinTech pioneer, Shamir Karkal played a crucial part in building the infrastructure that would pave the way for online banking. In 2009, he co-founded Simple, the first bank of its kind in the United States, and later headed the Open Platform at BBVA. Shamir was drawn to serve smaller companies, co-founding Sila in 2018 with the goal of empowering financial innovations.

Shamir studied physics and computer science at Bangalore University and is a graduate of Carnegie Mellon’s Tepper School of Business. He lives with his family in Portland, Oregon, and enjoys jiu-jitsu, long-range target shooting, and studying history whenever possible.

Edward (Ed) Labry III
Vice Chairman, First Data Corporation

During his 34-year career in the payment industry, Ed Labry led both First Data Corporation and Concord EFS, Inc., prior to its acquisition by First Data in 2004. He is best known for Concord’s role in the acceptance of credit and debit cards in the supermarket and quick service restaurant industries.

Ed and his team also consolidated the PIN-based networks under the brand name the STAR Network which accelerated ATM placement and acceptance of PIN-based debit at the point of sale. Under his leadership, STAR quickly became the largest PIN-based network in the US and is still the largest ATM network and second only to the card association at the point of sale.

Ed attended the University of Alabama and graduated from Cumberland University. In 2002, Cumberland honored him with the “Award of the Phoenix”, the school’s highest honor, and was later presented with an honorary doctorate for his role in helping develop and advance Cumberland’s business school and master’s degree program.

Ed has received various awards and honors in the payments industry with his favorite being the first-ever Distinguished Payments Professional of the Year Award by the Electronic Transaction Association.

Meg Nakamura
Co-Founder, Apto Payments

In 2014, Meg co-founded Apto with her long-time colleague and friend, Greg Kidd. Prior to Apto, Meg worked for a regulatory and compliance advisory company where she realized that the financial services landscape was in need of a significant upgrade — the industry was dependent on outdated, legacy infrastructure and entangled in a web of opaque regulatory requirements, making it difficult to build and launch innovative and bespoke card programs specifically designed for their end users. The system was set up to serve only the most highly resourced, established players in the market.

Meg is passionate about creating a payments ecosystem that is fairer and more equitable, allowing the most aspirational companies to enter the market quickly and responsibly. She loves working with those who are equally as enthusiastic about creating user-first experiences in the financial services sector. In a business that is focused on utility and transactions, she strives to create a partnership that is anything but transactional.

Since its Y-Combinator days, when Apto was known as Shift Payments, Apto now supports several of the fastest growing FinTech companies in the U.S. and expanded its business to Europe as of 2019.

Sankaet Pathak
CEO, SynapseFI

Sankaet Pathak came to the US from India to study Computer Engineering, Mathematical Sciences, and Physics at the University of Memphis. His experience of not being able to open a bank account due to his immigrant status, prompted him to launch a financial services company that could reduce barriers to entry for underbanked or unbanked individuals. Through his efforts, Sankaet found that the true barrier to entry was an outdated infrastructure which kept everyday folks from accessing best-in-class financial products.

Today, Synapse services over 1.8 million end-users and processes over $10 billion in deposits. Many of Synapse’s clients are early to late stage FinTech companies offering innovative financial solutions that are both accessible and affordable for end users.

Adam Spencer
Managing Partner, Elev8 Advisors Group

Adam started in the financial services career as an in-store retail banker at JP Morgan Chase in 1997. Adam’s final promotion encompassed Regional Management at JPMC’s Southeast Region where he led the TX, OK, LA, and FL Retail markets prior to leaving to join BBVA Compass in 2011.

In 2011, upon joining BBVA, Adam served as the Consumer Banking Segment Executive. Adam also managed the Network’s Direct Mortgage Sales group in this role. In 2013, Adam stepped into organizing and developing the U.S. Merchant Acquiring business unit for BBVA as the Director of Payments and Merchant Acquiring. From 2013 to 2017, Adam led the growth to over 55,000 Merchants and moved net revenues for the Bank’s payment group to over $35M annually in 2017 before leaving the company.

Today, Adam serves as Managing Partner of Elev8 Advisors Group, bringing his experience in Financial Services, and Payments together to provide guidance and strategy to both FI, and FinTech Partners and Clients.

Laura Spiekerman
Co-Founder and CRO, Alloy

Laura Spiekerman is a cofounder and CRO at Alloy. Alloy’s API enables financial services companies to better manage their digital onboarding and identity requirements, increasing conversion and reducing fraud for banks and FinTechs alike. Alloy works with both FinTech companies and banks, including Marqeta, Petal, Brex, Radius Bank and others. Alloy was recognized on the recent Forbes’ Cloud 100 Rising Stars list and as one to the global Venture Radar Top 10 RegTech Startups.

Prior to Alloy, Laura led Business Development & Partnerships at an ACH payments startup and was on the Research & Investment team at Imprint Capital Advisors (acquired by Goldman Sachs). Laura is a proud Barnard College alumna and lives in Oakland, California.

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