ACI Worldwide | March 10, 2023
Security Bank Corporation (Security Bank), a prominent universal bank in the Philippines, and ACI Worldwide, a company that offers software solutions for digital payments and real-time transactions, announced on March 9, 2023, that Security Bank has selected ACI Worldwide's Enterprise Payments Platform solution to enhance its real-time payment capabilities.
ACI Worldwide is set to assist Security Bank in accelerating its digital transformation by providing a complete payment hub system that covers both low- and high-value transactions. The solution includes payment processing, domestic scheme gateways, and SWIFT on ISO 20022 standards, all available on a unified platform.
Security Bank can protect consumer, merchant, and corporate payments with evolving and new payment types using ACI Worldwide's cloud-native real-time payment platform and flexible, modern architecture. With its premium payment solution and extensive experience in the field, the bank is poised to spearhead the advancement of payment innovations in the Philippines.
Banks are supporting new domestic use cases and domestic fintechs are entering the market, according to ACI Worldwide's 2022 Prime-Time for Real-Time report. In order to modernize its payment system and realize economic gains, Philippines needs to incorporate its financial framework. Security Bank's relationship with ACI Worldwide marks a milestone in its payments modernization initiatives and allows the bank to help the nation benefit from real-time payments domestically and regionally.
Meanwhile, ACI Worldwide has successfully implemented crucial real-time ISO 20022 payments ecosystems and central infrastructures in APAC nations.
About ACI Worldwide
ACI Worldwide is a leading provider of real-time payment software solutions used by top corporations, fintech companies, and financial innovators. These solutions are secure, reliable, and easily scalable, and can be used to facilitate digital payments, support omni-commerce transactions, process bill payments, and mitigate fraud and risk. With a global presence, the company is at the forefront of driving real-time digital payments and commerce.
FINANCIAL MANAGEMENT, WEALTH MANAGEMENT
PRnewswire | May 26, 2023
Centime, a Boston-based fintech that offers comprehensive cash management and banking solutions to small-to-midsize businesses, today announced a new set of credit products in partnership with bank partner FNBO. Together, Centime and FNBO are joining forces to combine the modern convenience of online banking and credit solutions with the stability and trust of a 165-year-old financial institution.
"Businesses need well-priced credit solutions that can flex to meet their changing liquidity needs," said Carrie Zoucha, Vice President at FNBO. "With Centime, we're able to simply and easily allow customers to access short-term credit online, supported by the bank's resources."
In recent years, many small and mid-sized businesses have turned to online lenders, but a report by the Federal Reserve Bank of Cleveland cites concerns over their transparency on pricing, data privacy and product features. The report notes the critical role of credit, stating: "The Federal Reserve has an ongoing interest in small businesses and their access to the credit they need to succeed and grow."
As a fresh entrant into the online lending market, Centime's banking solutions combine the ease and accessibility of a modern fintech solution, while addressing the pitfalls called out by the Federal Reserve. With CentimeCredit, businesses benefit from:
Only paying for credit that is used
No prepayment penalties
No origination fees or monthly fees
No minimum periods
Ability to draw cash as needed or use the integrated AP Automation solution to pay suppliers directly
Visibility over their cash position on a rolling, real-time basis
Clear, upfront pricing, without hidden charges and fees or prepayment penalties
"We're proud to bring the ultimate flexibility and convenience to CentimeCredit customers, by giving them the freedom to pay virtually any expense with a card or credit line," said Sergio Tzianos, Chief Product Officer of Centime. "We've made the application process simple, the administration is convenient and modern, and it's all provided by a trusted partner in FNBO."
This latest addition to Centime's full suite of cash management applications is designed to round out its offerings on cash flow forecasting, AR and AP automation, and banking solutions. And it's a timely introduction, in the wake of recent turmoil in the banking industry that has many financial experts predicting an upcoming credit squeeze for SMBs.
"Securing cost-effective credit is an essential component of any cash management strategy, but in light of recent turmoil in the banking industry, now is an especially important time for CFOs to think about how to get that credit from a provider they can trust," said BC Krishna, CEO and Founder of Centime. "We're confident that FNBO is the ideal partner for that, and we're excited to join forces to give customers a convenient and modern user experience from a trusted bank partner."
Centime, Inc. is a Boston-based fintech led by a veteran team of banking, payments, design and fintech professionals. We are bound by a shared desire to help small to mid-sized businesses thrive through strategic cash management and banking solutions. Learn more at www.centime.com
First National Bank of Omaha (FNBO) is a subsidiary of First National of Nebraska, Inc. (FNNI). FNNI and its affiliates have nearly $30 billion in assets and 5,000 employee associates. Primary banking offices are located in Nebraska, Colorado, Illinois, Iowa, Kansas, South Dakota, Texas and Wyoming. Founded in 1857, FNBO has maintained its commitment to helping build strong communities for more than 165 years. Learn more at fnbo.com and connect with us on Facebook, Twitter and Instagram.
CORE BANKING, MOBILE BANKING
Businesswire | April 04, 2023
Greenlight® Financial Technology, Inc. ("Greenlight"), the fintech company on a mission to help parents raise financially-smart, independent kids, today announced Greenlight for Banks, a family banking solution designed for banks and credit unions. With Greenlight for Banks, financial institutions can now easily add Greenlight’s family finance app, loved by more than 6 million parents and kids, to their financial service offering to better serve families and help the next generation build healthy financial futures.
93% of parents say it’s important for financial institutions to provide banking and financial literacy education for their children, yet only 16% say their current bank provides such services.* With 42.9 million Gen Zers estimated to use mobile banking by 2025, it’s clear there is an opportunity to better serve young people. However, many financial institutions may not have the expertise or resources to create a compelling digital banking experience for the next generation.
Greenlight for Banks is a first-of-its-kind solution that enables partners to offer Greenlight’s suite of family banking and education products for free to their customers. With Greenlight for Banks, financial institutions can seamlessly integrate family banking into their own ecosystems, allowing them to engage the next generation of customers, grow deposits, and provide more value to families. Key features include:
Full suite of family banking tools: Greenlight’s award-winning family finance app includes financial tools for earning, saving, spending, giving, and more. Parents can automate allowance, manage chores, and send money instantly while kids and teens get hands-on money management experience with parental supervision.
Best-in-class financial education: Within the Greenlight app, kids and teens also have access to Level Up, an interactive, curriculum-based financial literacy game. Level Up includes fun and engaging games, quizzes, and lessons that go beyond the National Standards for K-12 Personal Financial Education to empower young people with money skills and confidence.
Co-branded banking experience: Greenlight delivers a dedicated, co-branded landing page, registration, and app experience — with no technical lift required by the partner.
“At Greenlight, our mission is to empower parents to raise financially-smart kids and teens,” said Matt Wolf, SVP of Business Development at Greenlight. “In building Greenlight for Banks, we spoke with financial institutions across the country and found that many were looking to solve the same problem of making financial education more accessible. Partnering with banks and credit unions will allow us to help even more parents teach their children invaluable financial knowledge and skills.”
Greenlight for Banks was developed based on years of research and learnings from serving some of the world’s largest financial institutions. The result is a turnkey solution built with seamless activation, adoption, enrollment, and reporting capabilities. Greenlight for Bank partners also have the option to hold Greenlight customer deposits in their own institution.
To date, Greenlight for Bank partners have included leading financial institutions, regional and community banks, and credit unions.
“Greenlight adds enhanced value to Morgan Stanley's CashPlus brokerage account. By providing our clients with a way to also teach their children about the world of money, we are helping to ensure the next generation has the knowledge and skills they need for a healthy financial future,” said Tom Stanmeyer, Managing Director and Head of Deposits and Banking Services at Morgan Stanley.
“We’re excited about the opportunity that Greenlight for Banks brings to WaFd Bank. We believe we’ll be better able to serve parents and their children with age-appropriate financial management skills,” said Cathy Cooper, Executive Vice President and Chief Consumer Banker at WaFd Bank. “Together with Greenlight, we can help build a safe and secure financial future for the next generation.”
“Greenlight has helped us elevate our efforts in servicing schools where we already provide financial education,” said Tansley Stearns, president and CEO at Community Financial Credit Union. “We are proud to partner with Greenlight and provide best-in-class financial access and literacy content designed for parents and kids.”
Greenlight Financial Technology is the family fintech company on a mission to help parents raise financially-smart, independent kids. Its product, Greenlight, is an award-winning banking app, complete with a debit card for kids and teens, cash back credit card for parents, and safety features for the whole family. Parents can automate allowance, manage chores, set flexible spend controls, and invest for their family’s future. Kids and teens learn to earn, save, spend wisely, give, and invest with parental approval. Together, families can also stay safe and connected with location sharing, SOS alerts, and crash detection with automatic 911 dispatch to get help if they need it.
The Greenlight Debit Card is issued by Community Federal Savings Bank, member FDIC, pursuant to license by Mastercard International. The Greenlight Family Cash Card is issued by First National Bank of Omaha (FNBO®), member FDIC, pursuant to license by Mastercard International. Greenlight Investment Advisors, LLC, an SEC Registered Investment Advisor, provides investment advisory services to its clients. Investing involves risk and may include the loss of principal. Greenlight is a financial technology company, not a bank. The Greenlight app facilitates banking services through Greenlight's bank partners. For more information, please visit: greenlight.com.