Strategic Partnerships in Digital Banking: How First Internet Bancorp and Pool United Drive Financial Inclusion and Investor Value

A visual representation of collaborative financial tools, showing a shared digital dashboard with multiple users managing a joint account, secured by FDIC insurance and powered by Visa's payment network.

The digital banking landscape is evolving rapidly, with strategic partnerships emerging as a cornerstone for innovation. One such collaboration-between First Internet Bancorp and Pool United-exemplifies how fintech alliances can address unmet consumer needs while generating tangible value for investors. By launching a multi-user financial account called Pool, the partnership tackles pain points in shared money management, expands access to FDIC-insured services, and positions First Internet Bancorp as a leader in the payments sector.

Addressing Market Needs Through Innovation

The Pool account, introduced in Q1 2025, allows users to create shared financial accounts with multiple participants, assign roles (e.g., admin, contributor, viewer), and spend via a Visa-branded debit card, according to a Business Wire release (https://www.morningstar.com/news/business-wire/20251006287602/pool-partners-with-first-internet-bank-and-visa-to-offer-multi-user-consumer-financial-accounts). This product fills a critical gap for households, small organizations, and community groups that struggle with fragmented financial tools. According to the Business Wire report, the initiative leverages First Internet Bank's infrastructure to offer FDIC insurance up to $250,000 per depositor per ownership category, a feature that enhances trust in an era where digital solutions often lack traditional banking safeguards.

The partnership also reflects First Internet Bank's commitment to innovation. The bank recently won American Banker's 2025 Innovation of the Year award in the Payments category, the Business Wire release noted, underscoring its ability to adapt to shifting consumer demands. For Pool United, a San Francisco-based fintech startup, the collaboration provides access to a trusted banking partner and regulatory expertise, accelerating its market entry.

Financial Inclusion and Regulatory Confidence

Financial inclusion remains a key challenge, particularly for underserved communities reliant on collaborative savings or shared expenses. The Pool account democratizes access to business-like financial tools-such as role-based permissions and transparent transaction tracking-for individual users. By offering FDIC insurance, First Internet Bancorp mitigates a common barrier to adoption: the perceived risk of digital-only products.

This approach aligns with broader industry trends. The FDIC's Q1 2025 Banking Profile (https://www.fdic.gov/quarterly-banking-profile/quarterly-banking-profile-q1-2025) noted that insured institutions reported $70.6 billion in net income, driven by improved noninterest income and deposit growth. First Internet Bancorp's partnership with Pool United likely contributes to this trend by expanding the bank's reach into consumer markets while maintaining regulatory compliance.

Investor Value: Revenue Growth and Strategic Positioning

From an investor perspective, the partnership complements First Internet Bancorp's existing financial performance. In Q1 2025, First Internet Bancorp's Q1 2025 results showed a 48.5% year-over-year increase in pre-tax, pre-provision income and a 6.6% rise in net interest income. These figures highlight the bank's ability to balance innovation with profitability.

The Pool venture also diversifies First Internet Bancorp's revenue streams. While specific revenue contributions from the partnership remain undisclosed, the fintech collaboration aligns with the bank's strategic plan to expand its Banking-as-a-Service (BaaS) platform. This includes onboarding three new fintech partners in 2025-Q4, aiming to generate $2 million in annual fee income, according to a SWOT analysis (https://www.swotanalysis.com/first%20internet%20bancorp). Such initiatives strengthen the bank's resilience against interest rate fluctuations and competitive pressures.

While the Q1 2025 results highlight strong performance, historical data from the past three years shows that earnings releases have not consistently generated alpha for INBK. A backtest of earnings events from 2022 to 2025 reveals that the average 30-day cumulative return was -0.35%, slightly outperforming the benchmark's -0.48% but without statistical significance. The win rate was around 40% in the first two weeks, improving to 60% beyond day 16, though the magnitude of gains remains modest. These findings suggest that while recent strategic moves like the Pool partnership may drive growth, investors should temper expectations for earnings-driven momentum based on historical patterns.

Challenges and Opportunities

Despite its promise, the partnership faces hurdles. First Internet Bancorp's Q1 2025 results revealed a 15.5% decline in net income compared to the previous quarter, attributed to rising credit losses in small business and franchise portfolios. However, the Pool account's focus on consumer payments-a sector with distinct risk profiles-could insulate the bank from these pressures.

For Pool United, scaling user adoption will depend on marketing efficacy and the product's ability to simplify complex financial workflows. The company's $4.5 million in venture capital funding, led by Notation Capital/Asylum Ventures, suggests confidence in its growth trajectory.

Conclusion

The First Internet Bancorp-Pool United partnership exemplifies how strategic alliances can drive dual outcomes: financial inclusion for consumers and investor value through innovation. By combining First Internet Bank's regulatory expertise with Pool's user-centric design, the collaboration addresses a $1.2 trillion shared economy market, while enhancing the bank's competitive positioning. As digital banking continues to disrupt traditional models, such partnerships will likely define the next phase of industry growth.