Financial technology provider i2c Inc. reported a year of growth in client relationships, platform adoption and industry recognition as financial institutions and fintechs accelerate efforts to modernize banking and payments technology.

The company cited American Banker research conducted in partnership with i2c showing that 88% of financial institutions have accelerated their modernization timelines in response to competition from digital banks, fintechs and non-bank providers. Executives identified legacy processing architecture as their biggest obstacle.

i2c said the number of clients renewing or expanding their programs increased 42% over two years, while its largest client portfolio grew 46%. The company's PowerOne platform supports credit, debit and prepaid card programs through a unified technology infrastructure.

Recent client activity included Crypto.com's expansion of its global card program, Belize Bank's consolidation of its Mastercard and Visa portfolios and Sightline Payments' launch of a payments ecosystem for the U.S. gaming industry in partnership with Cross River Bank. Bank of Labor also selected i2c to power its corporate credit card program.

The platform operates in more than 216 markets and has recorded 99.999% historical availability, according to the company. Its configurable technology includes more than 300 APIs and 100,000 pre-coded building blocks, allowing clients to customize products, pricing, risk controls and other program features.

i2c also received several industry honors during the year, including recognition in the IDC FinTech Rankings Top 100, a Leading Vendor designation in Card Issuing and Processing from Celent, and awards for fintech innovation and fraud prevention.

Founded more than 26 years ago, i2c processes more than $70 billion in annual transaction volume. The company said it is also developing agentic AI capabilities that build on PowerOne's unified data and processing architecture to support the next generation of financial services.

*This article was prepared with assistance from artificial intelligence.