Unit

Unit provides software infrastructure for embedding accounts, payments, cards and credit products into business applications. The legal entity is Unit Finance Inc. It is a provider of financial infrastructure and not a bank, so its products should not automatically be treated as bank deposits, and it should not be credited with all the BINs used in programmes on the platform.

Services

The listed services are embedded banking, card programmes, payments and software tools for lending. Payments run over ACH and RTP. A software company can use the platform to offer financial features to its own customers without building the banking stack itself.

Customers and onboarding

The published target segments are fintech companies, banks and financial institutions, and businesses and enterprises. For end customers, Unit publishes a KYB procedure. A business application asks for the legal name, TIN, registered and operating addresses, and details of the controlling person and beneficial owners. Approval is subject to the programme, the bank or EMI partner, and a risk review.

What to ask

The partner bank behind a programme, the fees, the limits and the countries served are not stated in the published description. Ask which regulated partner holds the accounts, how disputes and compliance duties are split between Unit and the partner, and how long approval takes before choosing the platform.