Radius Bank
“Can a digital community bank become the infrastructure backbone for fintech companies by offering API-first BaaS and cross-border payment capabilities?”
HQBoston, MA, USA
IndustryFintech / SMB banking
The story
Radius Bank evolved from a traditional community bank into a forward-thinking digital bank and Banking-as-a-Service provider based in Boston. The bank built an API-first infrastructure layer, partnering with Treasury Prime to offer commercial API banking to fintechs and developers, and with Currencycloud for cross-border payments. In February 2020, LendingClub announced its acquisition of Radius Bancorp for $185 million — a landmark deal that made LendingClub the first U.S. online lender to acquire a bank charter, effectively subsuming Radius into LendingClub Bank.
Last 12 months
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Product timeline
2019
Radius Bank launched its digital marketplace, initially offering personal finance products to consumers.· banking
2019
Radius Bank added life insurance to its marketplace through a partnership with Ladder.· insurance
2020
Radius Bank partnered with Currencycloud to offer cross-border payments to more than 180 countries.· banking
2020
Radius Bank launched its Commercial API Banking Platform and developer sandbox in partnership with Treasury Prime, formalizing its Banking-as-a-Service offering.· banking
2020
LendingClub announced an agreement to acquire Radius Bancorp for $185 million, giving LendingClub its first bank charter.· acquisition
Regulated entities
National Bank Charter
US
Radius Bank
The stack
Accounting gap: none