Evolve Partner Fintech Can Seek Arbitration in $9 Million Suit

A fintech partner of Evolve Bank & Trust will have a second chance to send a dispute to arbitration over $9 million allegedly drained from end-user accounts, following a federal appeals court ruling.

A unanimous three-judge panel of the US Court of Appeals for the Eighth Circuit found that sufficient factual questions needed to be addressed before determining whether a case filed by BSI Group LLC and International Business Solutions Group LLC was subject to an arbitration clause in Evolve’s contracts.

BSI and IBS sued EZBanc Corp. along with Evolve and Solid Financial Technologies Inc. in May 2023.

EZBanc says ...