Modulr taps Cogent Bank to deepen US footprint
Payments firm Modulr has entered a partnership with Cogent Bank to support its US growth strategy. The company initially launched in the US through a collaboration with FIS in January. The new deal is expected to expand its reach in the American market.
Modulr, a payments technology firm, has announced a new partnership with Cogent Bank as part of its strategy to grow within the United States. This collaboration follows the company's initial entry into the American market earlier in the year, which was facilitated through a separate arrangement with FIS. The latest deal is positioned to broaden the firm's operational scope across the country.
The agreement with Cogent Bank is intended to strengthen Modulr's presence and accessibility in the US payments landscape. By building on the foundation established through its earlier work with FIS, the company aims to extend its services to a wider network of clients. This move reflects a continued push to establish a firmer foothold in a competitive market.
This partnership could intensify competition among payment infrastructure providers in the US, potentially benefiting businesses seeking more flexible or efficient financial services. If Modulr successfully expands its reach, American companies may gain access to additional payment processing options, which could influence pricing and service quality. Consumers might indirectly feel effects through the businesses that adopt these services, though the scale of any change remains uncertain. The deal also signals that international fintech firms continue to view the US as a key growth opportunity.