Bankjoy, a prominent provider of digital banking services, has officially announced its collaboration with Panacea Financial, a specialized digital financial services firm tailored to medical professionals' banking requirements. With this collaboration, Panacea Financial will enhance the capabilities of its growing clientele, which includes dentists, physicians, and veterinarians, by integrating Bankjoy's advanced digital banking solutions.
Tyler Stafford, CFA, CEO and Co-Founder of Panacea Financial, expressed that physicians, whether during their education, training, or active practice, contend with unique financial challenges. The core mission of Panacea Financial is to alleviate the financial stress experienced by doctors, dentists, and veterinarians while managing their finances, and their partnership with Bankjoy is a pivotal component in achieving this goal.
Bankjoy's digital platform will enable Panacea's clients to easily manage their personal and practice finances anytime, anywhere. This partnership offers tailored financial support throughout their careers, from education to professional practice. Bankjoy's integration with Panacea's core system via Fiserv Communicator's open, user-friendly interface and ability to integrate with various banking platforms make it an excellent fit for neobanks like Panacea.
Michael Duncan, CEO of Bankjoy, highlighted the robust growth in the neobank sector, with transactions expected to hit $4.74 trillion in 2023 and a projected customer base of nearly 377 million by 2027. Panacea Financial is focused on a critical market sector, serving the unique financial needs of healthcare professionals. Bankjoy is proud to partner with them, offering digital banking technology to empower clients to manage their finances and focus on their vital patient care responsibilities.
Panacea operates on a national scale as a digital neobank, offering specialized banking services tailored to the distinct requirements of healthcare practitioners. It functions as a subsidiary of Primis, a publicly traded financial institution chartered by the state and affiliated with the FDIC, ranking among the largest banks in Virginia.
About Bankjoy
Bankjoy, headquartered in Detroit, is a FinTech firm that specializes in providing state-of-the-art banking technology, encompassing mobile banking, online banking, and a banking API, catering to financial institutions of varying sizes, from central banks to credit unions. The company prioritizes crafting aesthetically pleasing products with advanced functionalities, intuitive navigation, a contemporary aesthetic, and world-class user experiences, all meticulously designed through extensive user feedback and interaction.
About Panacea Financial
Panacea Financial, a subsidiary of Primis Financial Corp., operates as a comprehensive financial services firm serving clients in every U.S. state, including Washington, D.C. Panacea specializes in delivering an extensive range of banking solutions designed to cater exclusively to the unique financial needs of medical professionals, an initiative conceived and developed by individuals with medical expertise themselves.