#Fintech #Propel Holdings #Propel Bank

Propel Holdings to Introduce Propel Bank

Introduction
On December 2, 2025, Propel Holdings Inc. (TSX: PRL), noted for its innovative fintech solutions that enhance credit accessibility, announced a significant milestone: the receipt of regulatory approval from the Office of the Commissioner of Financial Institutions of Puerto Rico (OCFI). This approval permits the establishment of Propel International Bank, Inc. (Propel Bank), a wholly owned subsidiary designed to further Propel's mission of enhancing financial access for underserved consumers.

Diving into Propel Bank
Propel Bank is being positioned as an International Financial Entity (IFE), operating under the U.S. banking framework. The significance of this approval lies not only in the creation of a new banking entity but also in the diversification of banking services that Propel can offer. With a focus on underpinning Propel's fintech-bank partnership model, the new bank is set to provide essential consumer lending services comprising underwriting, compliance, and customer support.

The establishment of Propel Bank reflects a vision for growth. By integrating its advanced technology, Propel aims to enhance service quality and expand product offerings once regulatory constraints allow. As Clive Kinross, CEO of Propel Holdings, expresses,