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BMA selected Bankjoy as a preferred partner for online and mobile banking

Wednesday 22 November 2023 08:39 CET | News

BMA Banking Systems has selected US-based fintech Bankjoy as a preferred partner for online and mobile banking.

BMA – Bankjoy partnership aims to offer an end-to-end digital banking platform and a suite of online and mobile banking features to all its financial institution clients. Moreover, BMA’s bank seeks to enhance the digital banking experience for its customers and members through Bankjoy’s modern banking tools such as which include mobile banking, and online banking. Bankjoy’s Online Account Opening also offers an accelerated onboarding process that verifies user identity through ID upload and selfie matching for secure and effective account opening.

About the BMA – Bankjoy partnership

BMA Banking Systems, a provider of core banking software and services to autonomous financial institutions, intends to ensure its customised software and technology such as core processing solutions, custom programming, and IT services. Moreover, Bankjoy’s technology aligns with the needs of BMA’s new and existing client base and seeks a trusted digital banking alliance.

Moreover, Bankjoy will leverage modern banking tools such as mobile banking, online banking, e-statements, online account opening, online loan origination, and conversational AI. Among this, its established presence in the credit union space was a key differentiator for BMA to select Bankjoy as a preferred partner.

Thus, along with Bankjoy, BMA aims to help its clients with the systems and support theiry need to grow relationships. As per officials, Bankjoy looks forward to working with BMA and expanding its access to a major online banking platform. 

More about strategic partnerships in digital banking 

Bankjoy’s modern banking tools, which include mobile banking, online banking, e-statements, online account opening, online loan origination, and conversational AI are designed for banks and credit unions of all sizes.

In October 2023, Bankjoy also partnered with NET Credit Union to enable its members with a simplified online and mobile onboarding experience. Through this collaboration, the credit union would leverage Bankjoy’s standalone Online Account Opening solution to increase member acquisition and deposit growth. This aims to facilitate a fully automated, secure, and simplified onboarding experience.

Its expertise in digital banking and the fintech field led to the alliance with BMA Banking Systems as a preferred partner for online and mobile banking, following a global trend of banking partnerships. Worldwide, Q3 2023 saw multiple banking partnerships and collaborations designed to enable consumers to connect to an extensive array of financial products and services while regaining control over their financial well-being. 

Most banking partnerships involve integrating new solutions into their principal operation without altering their core value and offering or adopting technological advancements through a channel partnership. Among the benefits are strengthened productivity, increased technology-wide integrity, and reduced costs. Thus, without having to spend as significantly on newer technologies, a bank can expand, provide innovative solutions, and target underserved populations by partnering with a non-bank.

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Keywords: digital banking, online banking, partnership, fintech, financial institutions
Categories: Banking & Fintech
Companies: Bankjoy, BMA Banking Systems
Countries: United States
This article is part of category

Banking & Fintech

Bankjoy

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BMA Banking Systems

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