First Electronic Bank
Also a provider — view First Electronic Bank’s profile →“Can a small Utah industrial bank remain a top-tier sponsor-bank rail for fintech lending and card issuing as regulators tighten oversight of the BaaS model?”
Founded2000
HQSalt Lake City, Utah, USA
IndustryBank / Sponsor
The story
First Electronic Bank is a Utah-chartered industrial bank originally affiliated with Fry's Electronics (still listed as an affiliate in its privacy notice). Over the past two decades it has pivoted from a captive/retail-financing bank into one of the go-to sponsor banks for fintech lenders and card programs, marketing over $40B in loans originated across partner programs spanning prime-to-subprime consumer, small business, BNPL, and installment loans. It positions itself as an infrastructure provider for fintechs launching embedded lending, credit, and card products.
Last 12 months
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Product timeline
2000
Chartered as a Utah industrial bank; historically affiliated with Fry's Electronics as parent/affiliate.· banking
2020
Emerged as an active sponsor bank for fintech partners, issuing installment loans, small business credit, and card programs.· lending
Regulated entities
1
regulatory licence held by First Electronic Bank
Licence types, jurisdictions and registered entities are in the Embedded Finance Index report.
The stack
5 layers disclosed in First Electronic Bank’s embedded-finance stack
Banking / BaaS
Card issuing
in the full report
Card network
in the full report
Lending
in the full report
Sponsor bank
in the full report
Accounting gap: none
12 more providers across 4 layers, with confidence-scored evidence and source URLs, are in the Embedded Finance Index report.