Central Pacific BaaS client Swell to debut this summer

Central Pacific Financial in Honolulu said its first Banking-as-a-Service client is on pace to launch its first product this summer. 

The $7.3 billion-asset company said in a press release Wednesday that Swell Financial should debut its integrated checking and line-of-credit account in a matter of months. 

The fintech is working with Central Pacific and Elevate Credit. 

Central Pacific and Elevate also participated in a $10 million Series A capital raise for Swell. 

Central Pacific has said that its BaaS platform will help it expand into the U.S. mainland market.