Dateline: Zip Co, bank partnership, 19 October 2026

Zip Co (ASX: ZIP), the Australian buy now, pay later provider, said on 19 October 2026 that Column N.A., a nationally chartered bank, will act as a second bank partner for its unsecured US installment lending products. Fintechbits’ coverage of Zip Cash on 13 October recorded WebBank as the bank originating Zip Cash loans, yet the Zip Column bank partnership release does not name WebBank, say how loans will be split between the two banks, or give a start date. Zip says the move diversifies its banking relationships and supports funding cost efficiencies.

What the Zip Column bank partnership involves

The Zip release on BusinessWire is short. Column N.A. will serve as a bank partner for Zip’s unsecured US installment lending products. Zip calls this a second banking partnership and says adding a nationally chartered partner diversifies its relationships, supports funding cost efficiencies and strengthens operational resilience.

Rory Herriman, Zip’s president and interim chief executive in the US, said a diversified funding platform is key as Zip grows. Brian Fishbein, Column’s chief investment officer, said Zip’s reach makes it a strong fit and that Column expects to support Zip as it expands into new products.

Column’s own description, included in the release, fills in the rest. Founded in 2019 by Plaid co-founder William Hockey, Column says it runs a custom-built core and ledger with a direct connection to the Federal Reserve. It lists Brex, Bilt, Wise and Mercury among the fintechs it serves, and says it can fund lenders through debt financing and loan purchases as well as originating loans through API partnerships.

Where WebBank fits

The release is silent on Zip’s existing partner. When Zip announced Zip Cash on 13 October, a same-day cash loan of up to $500 planned for the 2026 holiday season, Fintechbits recorded WebBank as the originating bank. A bank partnership announcement that leaves the incumbent unnamed is common, but it leaves out the most useful facts. A reader cannot tell whether Column takes new products only, a share of the existing installment book, or a backup role in case the first relationship changes.

Fintechbits analysis

Fintechbits analysis

Why a second bank is mostly about funding and regulation

Zip frames the deal as support for growth, and I read it mostly as risk management. US fintech lenders that rely on a single partner bank are exposed if that bank changes its appetite, its pricing or its regulatory standing. Bank-fintech arrangements are a regular focus for US bank supervisors, and a lender with two charters behind it can move volume if one relationship becomes difficult. That is a real benefit, and the release’s mention of operational resilience points to it.

The funding point matters too. Column’s description says it can deploy its balance sheet through loan purchases and debt financing. If Column buys Zip receivables as well as originating them, Zip gains a cheaper funding line, which shows up directly in margins. The release does not say whether that is part of the deal, so it is speculation until Zip reports.

Zip is also widening its product range. Zip Cash moves it from checkout credit into cash loans, and Column’s chief investment officer refers to new products. Fintechbits looked at how BNPL providers compete for distribution in its piece on Affirm, Antom and Klarna’s Wayfair renewal. Distribution is one half of that contest and funding is the other, and a second bank makes it easier to launch products that the first partner might not want to originate.

Frequently asked questions

What is the Zip Column bank partnership?

Column N.A., a nationally chartered US bank, will serve as a bank partner for Zip’s unsecured US installment lending products, according to Zip’s 19 October 2026 release. Zip describes it as its second US banking partnership.

Who is Column N.A.?

Column N.A. is a federally regulated national bank founded in 2019 by Plaid co-founder William Hockey. It says it provides banking infrastructure to fintechs including Brex, Bilt, Wise and Mercury, and can fund lenders through loan purchases and debt financing.

What does the Zip release leave out?

Fintechbits notes the release does not name WebBank, which Fintechbits recorded as the originating bank for Zip Cash in its 13 October coverage. It also gives no start date and no split of loan volume between the two banks.

What to Watch Next

Zip’s next quarterly update to the ASX is where the detail should appear. Three facts would settle what the Zip Column bank partnership means: the share of US originations moving to Column, whether Column also buys or funds Zip receivables, and whether Zip Cash launches through WebBank, Column or both. A clear shift of volume towards Column would show Zip is using it for funding, and a token share would suggest Column is mainly there as a backup.

Why this matters

Fintechbits’ 13 October coverage recorded WebBank as the bank originating Zip Cash loans, but the Column release names neither WebBank nor any split of volume between the two banks. Column N.A., a national bank founded by Plaid co-founder William Hockey, will act as a second partner for Zip’s unsecured US installment loans. A second charter reduces Zip’s dependence on one bank and could lower funding costs. The open question is how much volume actually moves.

Primary sources

businesswire.com | PRESS RELEASE | https://www.businesswire.com/news/home/20261019918488/en/Zip-US-Announces-Expansion-of-Banking-Partnerships-to-Support-Long-Term-Growth

column.com | COMPANY WEBSITE | https://column.com