Subscribe
|
|
|
|
|
|
|
News

BankSocial launches Open Banking platform with The Hashgraph Association investment

Wednesday 15 November 2023 14:00 CET | News

Fivancial has announced investment and partnership with The Hashgraph Association to support the BankSocial suite of Open Banking products for credit unions.

Launching a combination of scalable features, BankSocial provides solutions to challenges faced by credit unions and community banks. The press release states that the market is ready for an economical, integrated platform that delivers new services – economic payments, transfers, and a seamless mobile or digital banking experience with capabilities to include multiple banking relationships and digital currencies. The BankSocial platform is designed to grow the deposits and revenues of participating credit unions. 

Fivancial Inc. has announced investment and partnership with The Hashgraph Association to support the BankSocial suite of Open Banking products for credit unions. \

The Hashgraph Association is set to provide financing and investment in solutions that leverage Hedera’s Distributed Ledger Technology (DLT). 

Credit union industry support for BankSocial 

The BankSocial platform helps credit unions diversify into non-traditional banking services, aiming to ensure they remain relevant to future generations of consumers while growing deposits and revenue. 

Envisant is a credit union service organisation helping credit unions across all 50 states achieve their vision. Officials from Envisant emphasised that credit unions succeed by leveraging their strong member relationships. BankSocial brings Open Banking products and services to the company’s credit union partners that help them continue to remain relevant in an increasingly competitive environment. 

Prodigy delivers a modern, cloud-based core platform, delivering freedom and flexibility for progressive, mission-focused credit unions that want to own their technological destiny. The company stated that the BankSocial platform allows it to add new Open Banking tools and features for customers. 

A new generation of credit union and member benefits 

According to the official press release, the rollout of the BankSocial Open Banking platform is scheduled to align with the evolving needs of credit unions. The next phase, focusing on core identity and payment solutions, is slated for Q1 2024, with subsequent features rolling out in phases to ensure smooth integration and adoption. 

More: Link


Free Headlines in your E-mail

Every day we send out a free e-mail with the most important headlines of the last 24 hours.

Subscribe now

Keywords: partnership, product launch, Open Banking, digital banking, digitalisation
Categories: Banking & Fintech
Companies:
Countries: World
This article is part of category

Banking & Fintech

::: more





Industry Events

Free Headlines ::: subscribe now
RSS ::: follow ThePaypers via RSS ::: connect
LinkedIn ::: connect with ThePaypers on LinkedIn ::: connect
Twitter ::: follow ThePaypers on Twitter ::: follow
Facebook ::: like ThePaypers on Facebook ::: like