Real Estate - Commercial

New Banking Tech Firm Chooses Downtown Wilmington As Base

By Cece Nunn, posted Oct 5, 2017
A new banking tech company, Apiture, has leased the top floor of the Bank of America building on North Third Street in downtown Wilmington. (Photo courtesy of Cameron Management Inc.)
Apiture, a new digital banking technology company, has chosen a downtown Wilmington office building as its base of operations, planning to grow from about 30 to 40 employees to 100 in the coming years.

The newly formed joint venture between Wilmington-based Live Oak Bancshares (NASDAQ: LOB) and First Data (NYSE: FDC) combines First Data’s and Live Oak Bank’s digital banking platforms, products and services with the aim to provide technology solutions tailored for financial institutions.

Apiture has leased the entire fifth floor of the Bank of America building, about 12,000 square feet, in downtown Wilmington at 319 N. Third St.

Chris Cox, president of Apiture and former head of digital banking at First Data, said it made sense for Apiture to set up shop in Wilmington because of its proximity to the headquarters of joint venture partner Live Oak, at 1741 Tiburon Drive in midtown Wilmington. 

"It's just a great place for a new company to be. We'll be participating in sort of an emerging bank tech scene that's happening here in Wilmington, and it's just really good for us to be here in the middle of that," Cox said.

A downtown environment also suited the new firm.

"We wanted to be downtown. We have people relocating from different parts of the country and we thought downtown was the appropriate place, kind of the center of all things Wilmington," Cox said.

Apiture will be the first tenant for the fifth and top floor of the Bank of America building, which was constructed in 2008 and purchased by River Bend #1 LLC for nearly $8 million in 2015.

"It's great for the Bank of America building to have a large tenant and all that entails, and I think it's also great for downtown Wilmington," said Hill Rogers, broker in charge of Wilmington-based Cameron Managment Inc., the firm that manages and is in charge of leasing for the Bank of America building.

Other tenants in the building include Bank of America, Eshelman Ventures, Dye Creek Capital and the Wilmington office of Cranfill Sumner & Hartzog LLP.

The fifth-floor space will need to be upfitted for Apiture, which is expected to move in after the first of the year, Cox said.

Apiture will start with a set of customers that First Data has been serving for years, he said. 

"The idea is we continue to serve them well as we always have, but part of the purpose of the joint venture is to allow us, through new technology that we get from our new partner Live Oak Bank and new services that we get from our partner, to continue to serve those existing clients with even better products and services," Cox said. "We'll continue to have an offering that's attractive to the whole market and continue to grow our client base."

Story On The Map

Ico insights


Jim ellis headshot 10311631058

Second Helpings:How to Repurpose Content

Jim Ellis - Signal
Dave hoff heashot 300x300

Speed and Reflecting: Dichotomy or Complementary?

Dave Hoff - EASI Consult
Lgoriginalheadshot 311794626

National Nutrition Month: ‘Go Further with Food’

Laura Bransfield - Summerfield Custom Wellness

Trending News

A First Look At Independence Mall's Upcoming Transformation

Cece Nunn - Mar 19, 2018

In The Current Issue

Fort Fisher Aquarium Volunteer Honored

N.C. Aquarium at Fort Fisher volunteer Rusty Burrow recently received the organization’s top volunteer honor....

ALIST Looks To Influencers

The online world has long provided methods of fundraising. Whether for disaster relief, helping with a person’s sudden medical expenses or g...

MADE Winners - Arts Category

Intracoastal Iron & Metalwork LLC, Second Set Designs LLC/Tachits and TAY HAM are the winners in the MADE Arts Category....

Book On Business

The 2018 WilmingtonBiz: Book on Business is an annual publication showcasing the Wilmington region as a center of business.

Order Your Copy Today!



WilmingtonBiz Expo - Keynote Lunch with John Gizdic, CEO, New Hanover Regional Medical Center
Wilmington's Most Intriguing People of 2017
2017 Health Care Heroes