InBank has launched a private label banking product for insurance companies seeking to sell banking products through their agent networks and online.
With the product, InBank will provide branded, transactional banking websites offering a broad range of banking products to insurance company customers through Affinity Financial Corporation. Additionally, the product provides large numbers of CD customers to insurance company offices who become candidates for insurance product cross sales.
InBank provides its private label banking program to insurance companies through flexible licensing arrangements. Agents are trained to sell bank products to attract new customers, and insurance companies can market bank products to orphan accounts.