One, a new digital banking app, has selected Finxact, a provider of Core-as-a-Service banking solutions, to power its service.
One is designed to deliver full-suite banking in one account that allows users to save, spend, share, and borrow in a way that suits their lifestyle and financial goals. One serves the needs of middle-income families across the US, including married or partnered couples who often support children, parents or other family members.
Finxact is a real-time position keeping platform that includes an extensible financial services model. By accessing its open APIs and extensible components, banks can invent, curate, and launch products. Finxact secured a USD 30 million strategic investment in 2019 and is currently working with multiple US and international financial institutions, from de novo banks to top-tier banks, on projects ranging from full core conversions to digital-only initiatives, according to the official press release.
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