REGULATION · US
Fintech Avant files for national bank charter with OCC and FDIC
Consumer fintech lender Avant filed an application for a national bank charter (Avant Bank, N.A.) with the Office of the Comptroller of the Currency and Federal Deposit Insurance Corporation, seeking direct deposit-taking authority and FDIC protection.
WHY IT MATTERS
Marks inflection point: fintech-to-bank conversions accelerating as traditional lending economics compress. BFSI incumbents face new AI-enabled competition from former non-bank operators with lower cost structures.
Source: PYMNTS · 2026-09-18