Central Payments in the Middle of Productive Fintech Ecosystem
It pays to regularly revisit even the oldest of assumptions and look at them with a new lens, to see if you can deliver added value in new and exciting ways. That is the experience of Central Payments, America’s fastest growing prepaid card issuer.
Central Payments works on behalf of the Central Bank of Kansas City (CBKC), a financial institution certified by the United States Treasury as a Community Development Financial Institution which means it has a focus on assisting people of modest means who often do not have equal access to affordable financial products. Central Payments founder and president Trent Sorbe has led Central Payments for seven years. During this period he helped design the Open*CP Fintech API Marketplace, a bank-as-a-service platform, an achievement which has driven Central Payments’ prepaid card issuance success. He also cofounded Falls Fintech, a startup accelerator focused on the bank-fintech partnership gap.
Mr. Sorbe brings a strong resume to the role. He began his career with the FDIC before working with all forms of banking and payments. The CBKC is focused on helping the residents of northeast Kansas City, he explained. The 2008 recession hit that community hard, and in its aftermath the bank looked for ways to grow its deposit base by extending its reach to other communities in need.