Finovifi names Primax for debit processing on MBS Core

Primax will provide Finovifi with debit card processing services and support beginning in late 2026, the payments processing company said. The arrangement is aimed at Finovifi’s MBS Core platform, which serves community banks and credit unions seeking tighter links between card services and core banking systems.

Primax described the selection as a card processing relationship for the MBS Core platform. Financial terms, client migration details and implementation milestones beyond the late-2026 start date were not disclosed in the announcement.

Finovifi supplies fintech products built for community financial institutions, including AI-powered fraud prevention, compliance automation and core processing technology, according to the companies. Finovifi added Modern Banking Systems, or MBS, in 2025, a move it said expanded its ability to support security, operations and digital banking modernization for community banks and credit unions.

Core banking link

The deal follows Finovifi’s review of card processing providers as part of its investment in the MBS Core platform. Finovifi sought a partner that could improve operating efficiency, strengthen service coordination, connect card processing more closely with the core banking environment and support future integration, according to Primax.

Debit processing is a central operating layer for deposit institutions. A processor supports the flow of card transactions, including authorization and related servicing, while the core system maintains deposit account records and other customer account information. Closer coordination between those systems can reduce handoffs for institutions and create a clearer path for product and service changes, depending on implementation.

Mike Polacek, Finovifi’s chief operating officer, said Primax was selected for its payments expertise, client-focused approach and work on innovation. He said the companies are creating a preferred payments route for institutions using MBS Core, with the objective of improving technology connectivity, service coordination and operating efficiency for community banks.

Bill Hampton, president of Primax, said the partnership combines Primax’s payments capabilities with Finovifi’s banking technology platform. He said both companies are focused on supporting community financial institutions and improving operational performance for those clients.

The companies framed the arrangement as part of a longer-term strategy to help smaller financial institutions compete while upgrading payments infrastructure. Community banks and credit unions often rely on third-party technology providers for card processing, core banking and compliance tools because those functions require network connectivity, operational support and ongoing systems maintenance.

Primax provides payment processing services and value-added solutions for banks, according to the announcement. Finovifi said its expanding platform combines fraud prevention, compliance automation and core processing for community financial institutions.

This story draws on original reporting from Finextra Research.