Wilmington-based digital banking firm Apiture announced Thursday the launch of Fintech Connector, which allows financial technology firms or fintechs to integrate into Apiture's banking platform.
The new program allows the company's fintech partners to integrate directly with Apiture’s consumer and business banking solutions. That enables Apiture clients to select and deploy new services that align with the needs of their account holders and their institution’s strategy, according to a news release.
Fintech Connector also allows financial institutions to deploy features built in-house directly into Apiture's digital banking platform and provides exposure to hundreds of the company’s community bank and credit union clients. The program launches as financial institutions increasingly look to “harness fintech innovation to meet the evolving expectations of account holders,” according to the release.
“Fintech Connector complements our ongoing development efforts, providing a new way for banks and credit unions to tailor the digital banking experience to meet the needs of their communities," Chris Cox, the company’s chief operating officer, wrote in the release.
According to the release, InvestiFi is the first fintech partner to use Fintech Connector. The company, a digital investing provider, aims to enable account holders to buy and sell investments directly from their checking accounts. The product eliminates the need to move money to external parties to invest and helps banks and credit unions keep deposits within their institutions. Apiture clients can now access InvestiFi directly from Fintech Connector.
“With InvestiFi's patent-pending Investing from Checking solution now integrated into Apiture's online and mobile banking solutions, Apiture's extensive ecosystem of banks and credit unions can drive new streams of non-interest income, deposit growth, and digital engagement,” InvestiFi CEO Kian Sarreshteh wrote in the release.
Fintech Connector is now live and open to new fintech partnerships, according to the release. Apiture was founded in 2017 as a joint venture between Live Oak Bank and First Data Corporation.