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← Embedded Finance Index 2026/Banks

Midland States Bank

Sponsor bank
Sponsor BankBaaS

Sponsor bank tracked in the Embedded Finance Index. Named by 2 companies, most often as their sponsor bank.

midlandstatesbank.com ↗Also analysed as a company — its own stack →
TypeSponsor bank
Used asSponsor bank, Banking-as-a-Service
Rank#104 of 201 in Sponsor Bank
Buyers2 companies
HeadquartersEffingham, Illinois, United States

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How companies use Midland States Bank

2 companies name Midland States Bank in their stack. The most common role is sponsor bank (2). A company can use the same bank for more than one thing.

Sponsor bank2
Banking-as-a-Service1
Background · from Midland States Bank’s own dossier

Midland States Bank is a community bank headquartered in Effingham, Illinois that has evolved into a diversified holding company (Midland States Bancorp) offering consumer, small business, commercial, treasury, wealth management, and trust services. Alongside its core community banking franchise, Midland has built out an explicit fintech-sponsorship business — marketed at welcome.midlandsb.com/fintechs — offering BaaS, lending-as-a-service, and embedded payment sponsorship to fintech partners, backed by a partner-facing API at developer.midas.midlandsb.com. This positions Midland as one of the smaller regional sponsor banks pursuing embedded-finance partnerships alongside its traditional business.

Latest round: IPO (May 2016, NASDAQ: MSBI)
Recent developments
  • 2024-07Partnership with Transend to offer point-of-commerce B2B working capital via Transend's private-label platform. source ↗
Full dossier: Midland States Bank’s own stack, layer by layer →
Who uses Midland States Bank
2 companies disclose Midland States Bank in their stack
GreenskyRuby Card
Buyer mix · 2 of 2 classified
Fintech / Lending · 1Fintech / SMB banking · 1
US · 2
What the disclosures say
Greensky
“Bank partners (Goldman Sachs Bank USA, Midland States Bank, Synovus Bank, Fifth Third Bank, JPMorgan Chase Bank, BMO Harris Bank) fund the loans; GreenSky is the technology platform and servicer.”
Ruby Card
“Midland States Bank publicly lists Ruby Card as a customer at bankingembedded.com/companies/ruby-card (TIER 1 known_customer_listing).”
The complete buyer list and each company’s full embedded-finance stack are in the Embedded Finance Index report. Represent Midland States Bank? Claim this profile above to unlock your own full list.
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What Midland States Bank runs on · from its own dossier
The third-party providers Midland States Bank itself discloses, layer by layer — the vendor as a buyer. Distinct from the companies above that disclose Midland States Bank.
PSP
HSBC Bank USAcheckout
Card Issuing
Elan Financial Services
Card Network
VisaMastercard
Lending
Transend
Insurance
New Hampshire Insurance CompanyAIG WarrantyGuardGenerali Global AssistanceSedgwick Claims Management Services
Retirement / Wealth
Raymond JamesMidland Trust CompanyMidland Wealth AdvisorsEmpower
Spend / AP
Elan Financial ServicesVisa
Treasury Management
IntraFiIntraFi Cash Services network banks
Full dossier with evidence for each layer →
Other banks in Sponsor Bank

Other banks named for Sponsor Bank in the index, by the number of companies that disclose them. A count of public disclosures, not a ranking of the products.

Evolve Bank & Trust101 buyers →Sutton Bank65 buyers →Cross River64 buyers →Pathward43 buyers →Celtic Bank39 buyers →Community Federal Savings Bank37 buyers →Thread Bank31 buyers →The Bancorp Bank25 buyers →
Share this rank

An embeddable badge for Midland States Bank’s own site — it always shows this page’s current rank, so it stays accurate as new disclosures land. States its own denominator; never claims a number this page doesn’t.

Ranked #104 of 201 in Sponsor Bank — Embedded Finance Index 2026
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Midland States Bank — frequently asked

Which companies use Midland States Bank?

2 companies disclose Midland States Bank in their stack in the Embedded Finance Index 2026, including Greensky and Ruby Card.

What do fintechs use Midland States Bank for?

Midland States Bank is a sponsor bank. Companies in the Embedded Finance Index 2026 name it as their sponsor bank (2) and banking-as-a-service (1).

What are the alternatives to Midland States Bank?

The most-disclosed Sponsor Bank alternatives to Midland States Bank are Evolve Bank & Trust (101 buyers), Sutton Bank (65 buyers), Cross River (64 buyers), Pathward (43 buyers), Celtic Bank (39 buyers) and Community Federal Savings Bank (37 buyers).

Where is Midland States Bank headquartered?

Midland States Bank is headquartered in Effingham, Illinois, United States.

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