Bankjoy Brings New Online and Mobile Banking System to SafeAmerica Credit Union

SafeAmerica Credit Union’s investment in its partnership with Bankjoy has begun paying big dividends. The 35,000+ member credit union unveiled its online and mobile banking platform last week, successfully enrolling 25% of its active users within the first day of the launch.

Steven Page, VP of Marketing and Digital Banking for SafeAmerica CU said that customer engagement is a priority for the institution, and that Bankjoy’s platform and API integration capabilities would go a long way toward this goal. “(We are) always trying to find an easier way for our members to transact with us,” Page said. “Teaming up with Bankjoy has helped give SafeAmerica that flexibility to be nimble. With the new Bankjoy online banking and mobile app, we can continue to make improvements faster from the feedback we get from our members.”

Chartered in 1953 as a credit union for Safeway employees, SafeAmerica serves the Northern California counties of Alameda, Contra Costa, San Mateo, and Santa Clara, as well as a number of employer groups. It has $430 million in assets.

Bankjoy demonstrated its modern REST-based banking API for developers at FinovateFall 2016. The Mountain View, California-based fintech gives community banks and credit unions the ability to offer an omnichannel banking experience including mobile and online banking, as well as financial goal management. FIs can benefit from Bankjoy’s targeted advertising platform that enables banks and credit unions to send relevant marketing and other communications to their customers and members over all digital channels.

A graduate of the Y Combinator program, Bankjoy inked a deal with Michigan-area Coca-Cola Credit Union last spring. This added to the three credit unions that partnered with the company at the beginning of the year – Indiana’s CommunityWide FCU, Idaho’s Advantage Plus FCU, and Illinois’ One Detroit CU. The company was founded in 2015 by Michael Duncan (CEO).

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This post will be updated throughout the day as news and developments emerge. You can also follow all the alumni news headlines on the Finovate Twitter account.

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This post will be updated throughout the day as news and developments emerge. You can also follow all the alumni news headlines on the Finovate Twitter account.

Coca-Cola Credit Union Chooses Bankjoy As New Mobile Banking Provider

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Coca-Cola CU (CCCU), an Atlanta-based credit union serving the employees of The Coca-Cola Company and their immediate families, has picked Bankjoy to provide online and mobile banking services for its members. The new platform will include billpay, mobile deposit, PFM, card services, and wire transfers, as well as a major redesign of CCCU’s website.

CCCU IT manager Farhan Jadavji found a lot to like in Bankjoy’s offering, crediting the technology for being “agile and innovative” and “supporting the trends of cross-generational demographics.” Jadavji listed “greater productivity, improved efficiencies, and increased security” among the reasons why it was “easy to select Bankjoy as our partner.” Bankjoy CEO Michael Duncan added, “Coca-Cola Credit Union has a clear vision of the omnichannel experience it wants to create for its members. No two credit unions are the same, nor should they be.”

Founded in 2015 and headquartered in Detroit, Michigan, Bankjoy demonstrated its Bankjoy API at FinovateFall 2016. The company has been on a tear in recent months, signing partnerships with three credit unions last month. And these partnerships are in addition to the deployments with two other FCUs that Bankjoy announced back in December. The Y-Combinator alum partnered with payments solution provider Payveris in February, leveraging the company’s suite of open APIs to add to the features like business payments and external account transfers to its offerings for credit unions.

Finovate Alumni News

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This post will be updated throughout the day as news and developments emerge. You can also follow all the alumni news headlines on the Finovate Twitter account.

Three Credit Unions Sign Up for Bankjoy’s Mobile Banking Technology

Bankjoy_homepage_February2017

So, how many credit union deals did you land this week?

Finovate newcomer Bankjoy announced this week that three credit unions had agreed to deploy its mobile banking technology. The three FIs are CommunityWide FCU ($395 million) of South Bend, Indiana; Advantage Plus FCU ($125 million) of Pocatello, Idaho, and One Detroit CU ($35 million) of Detroit, Michigan. Bankjoy CEO Michael Duncan pledged that the company’s technology would “help them improve their member experience, increase efficiencies, and develop a foundation to more easily integrate future technologies.”

Bankjoy_stage_FF2016

CEO Mike Duncan (pictured left) demonstrating the Bankjoy API at FinovateFall 2016.

Each of the credit unions is seeking something a little different from Bankjoy. CommunityWide, for example, will be using the fintech company’s data marketing technology in addition to its mobile banking, billpay, and other solutions. Advantage Plus is reportedly considering deployment of Alexa-based, Bankjoy Voice, alongside its new home banking and mobile apps. One Detroit CIO John DiGaetano emphasized the ability of Bankjoy’s technology to support further platform enhancements. “It will also help us leverage technology to become a member service leader by providing the same suite of services provided at competing institutions,” DiGaetano said.

Specializing in bringing mobile banking functionality to credit unions, Bankjoy enables credit unions to offer their members a variety of mobile banking services ranging from billpay and check deposit to P2P money transfers. Bankjoy’s technology includes built-in financial goal management tools to help members save and budget better. The white-label solution also gives credit unions the ability to offer targeted loan products and incentives.

Founded in 2015 and headquartered in Troy, Michigan, Bankjoy demonstrated its API at FinovateFall 2016 last September. The company has raised $120,000 in seed funding and is a graduate of the Y Combinator program.

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This post will be updated throughout the day as news and developments emerge. You can also follow all the alumni news headlines on the Finovate Twitter account.

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This post will be updated throughout the day as news and developments emerge. You can also follow alumni news headlines on the Finovate Twitter account.

Ready for a Sneak Peek? How to Best Prepare for FinovateFall

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To give you a sense of the many new ideas at the upcoming FinovateFall conference in New York, we’ve launched our Sneak Peek series. Eight companies are featured each week leading up to the 8/9 September event (tickets now available).

In the meantime, here is a quick summary of the 66 announced companies (six more are in stealth mode). It’s a lot to take in; pace yourself!

  • Agreement Express offers an an end-to-end platform that helps traditional financial institutions automate labor-intensive parts of the customer onboarding process to remain compliant while quickly opening customer accounts.
  • Aleo’s marketplace uses e-procurement, e-commerce and supplier financing bundled in a single open platform to offer small and medium enterprises an online procure-to-pay solution.
  • AutoGravity’s mobile-first digital marketplace helps digitally minded customers, looking to buy and finance a vehicle, circumvent the inefficiencies of the auto-financing process by leveraging the full potential of their smartphone.
  • Avoka’s customer-acquisition platform integrates multiple fintech services to help banks, wealth managers and insurers use mobile and digital channels to onboard customers.
  • Backbase offers 60-second onboarding for financial services companies to accelerate customer acquisition with a simple, fast, and seamless omnichannel onboarding journey.
  • Bankjoy offers developers a banking API for a modern, real-time, holistic interface for credit unions and community banks.
  • Bitbond’s automated, international credit-scoring mechanism compares small business-loan applicants from different countries by using machine learning and data from the applicant’s business accounts.
  • Bluescape offers large financial services companies a highly interactive, visually collaborative platform that uses real-time, cloud-based architecture that’s ultra-scalable, all-capturing, and accessible anytime from any device.
  • BondIT offers financial advisers and portfolio managers a data-driven solution that uses machine learning advanced algorithms to manage fixed-income portfolios and solve optimization challenges.
  • brandCrowder has developed an alternative investment platform focusing on branded franchises. It leverages 45+ years of franchise-operations experience to help retail investors finance franchises, helping to bring them to market quicker.
  • Clinc’s mobile, voice-activated personal financial adviser uses artificial intelligence to help consumers get answers to financial questions and tasks.
  • Consdata offers banks and financial institutions a comprehensive platform for e-form management and customer-communication complexities.
  • Currencycloud’s dedicated API services use intelligent APIs to help businesses with the cost, limitations, and boundaries of existing payment infrastructure.
  • Daon bridges convenience and security by offering financial services companies a mobile biometric authentication platform that turns a smartphone into a mobile capture device.
  • Divy’s app and social investing community uses an approachable interface and engaging content to help first-time and emerging investors access direct marketing and financial literacy material.
  • Dynamics offers issuers and their cardholders interactive payment cards and an authorization-based, real-time loyalty processing system.
  • ebankIT’s platform offers financial institution clients an omnichannel experience.
  • Econiq’s Conversation Hub uses color-coded conversations to help bank and insurer frontline staff, and operational management and executives avoid disconnected customer conversations in branches and contact centers.
  • Envestnet | Yodlee offers millennials a solution for measuring financial health and promoting a healthy financial lifestyle.
  • Experian CrossCore is a single platform that helps manage customer identities, fraud-prevention tools, workflows and decision strategies in an easy-to-use and scalable format.
  • EyeVerify’s Eyeprint ID offers banks and other financial services companies eye biometrics via smartphone cameras for convenient, secure and private authentication.
  • Featurespace’s ARIC Engine helps financial services clients spot and prevent fraud attacks in real time using adaptive behavioral analytics.
  • Finicity offers an API for companies to build financial apps.
  • Fiserv helps financial institutions enable social finance by providing customers access to a safe, collaborative bank-secured social funding product.
  • Full Profile uses the blockchain and smart contracts for real-time settlement and reporting of physical agri-commodities to help farmers, buyers, banks and government counter party and credit-risk exposures.
  • FutureVault’s cloud-based filing cabinet helps financial service providers and their clients organize asset documents and accounts using a secure, structured and collaborative B2B2C cloud environment.
  • GainX’s SaaS platform uses decades of market research and leading-edge technology to help large financial institutions overcome innovation and adaption failures.
  • GoodData helps large banks, credit-card processing and insurance companies commercialize and monetize their data using a scalable, manageable and secure platform that is exclusively designed for data products and embedded analytics.
  • iBank Marketing offers millennials a multifunction digital wallet to help them achieve personal goals around life events by using its local eco-system that bridges consumers and small- to medium-sized enterprises.
  • identitii uses tokens and blockchain to help financial institutions with KYC, CTF and AML compliance using an information layer over legacy systems.
  • InSpirAVE’s social e-commerce platform curates advice and financial support from the user’s friends and family, financial institutions, and merchants. It helps multiply savings, for big-ticket purchases for customers who otherwise may not be able to afford them, by placing important goals for life’s special moments within reach, without the crushing burden of debt.
  • KORE’s platform transforms enterprise applications, online banking and mobile apps into personalized, conversational engagements to help financial institutions meet customer-experience expectations using the power of bots and simplicity of messaging.
  • LendingFront’s lending platform leverages a cloud-based system that furnishes small businesses with capital using their cashflow data.
  • Lidya offers African small- to medium-sized enterprises access to finance using online receivables-based lending and proprietary credit scoring.
  • Liferay’s Digital Experience offers banks a richer understanding of customers by orchestrating personalized customer experiences.
  • M1 Finance places assets held in low-yielding cash accounts into an asset-linked bank account and intuitive investment platform.
  • MapD’s Immerse helps quantitative hedge fund and asset managers query datasets with billions of rows in real-time by applying the parallel processing power of GPUs to the challenges of databases, visualization and analytics.
  • MarketX’s cross-border investment platform helps international investors with the lack of liquidity for U.S. startup shares and limited access to U.S. pre-IPO investment opportunities.
  • ModoPayments offers financial companies a digital payments hub to connect disparate sources of value to diverse destinations using Modo’s COIN technology.
  • Moonraft Innovation Labs helps banks innovate and evolve by rapidly adapting to changing market needs using Catamera, its unique customer experience delivery framework.
  • Moven’s growing platform reaches the millennial, mobile first, digital native audience by bringing banking (specifically savings) into the moment.
  • MX helps financial institutions become true advocates for their account holders by using analytics to power a revolutionary category of data-driven money management.
  • nanoPay offers a payments and loyalty solution for merchants.
  • Overbond’s digital platform offers transparency, efficiency, and liquidity in the fixed income market for corporate issuers, investors, and dealers.
  • Personetics offers financial services providers a digital personalization platform that uses real-time, ultra-scalable predictive analytics to keep customers engaged in the digital age.
  • ProActive FinTech uses a phone app and debit card featuring unlimited mini bank accounts and pre-purchase categorization to help millennial moms with cash-flow management.
  • QE Data offers commercial banking systems a real-time predictive model for net cash-flows that uses machine learning, rich visualization, speedy deployment and real-world banking experience.
  • Qumram uses 100% real-time, video-like recording of every mouse movement, keystroke and button click to help financial services organizations with compliance and transparency issues relating to digital business.
  • RightCapital’s financial and tax-planning platform helps advisers deliver unbundled, quality financial planning and tax-planning services. It works to efficiently and digitally help consumers with the lack of viable business and technology solutions.
  • SaleMove offers financial institutions a live engagement platform to help sell and service complex financial services products online. The platform uses instant video chat and guided browsing with no downloads or installations.
  • Sindeo’s self-directed consumer rate quote and prequalification tool simplifies home financing and refinancing using an integrated platform that offers consumer, real estate partner, and adviser tools that conform to CFPB regulation and ensure a simple and easy consumer experience.
  • SpeechPro’s customer onboarding solution offers multichannel access to help CTOs, developers and other technologists focus on KYC, identity and verification.
  • Swych’s mobile gifting platform offers gift-card recipients a better way to buy, gift, and manage gift cards.
  • Tango Card’s RaaS API 2.0 uses simple-yet-complete delivery technology and domain expertise to help enterprises deliver incentives efficiently and effectively.
  • TokBox’s Financial Services Accelerator Pack offers banks and financial organizations secure and easy-to-embed, real-time communications technology.
  • TransUnion’s interactive data-visualization solution uses big data and analytics to connect and interpret consumer financial data for lenders.
  • Trulioo’s GlobalGateway uses traditional and cyber ID data sources to offer banks, financial services providers, and online marketplaces secure access to reliable, global data sources for instant ID-verification.
  • Trusona’s anti-replay and TruToken technology offers an insured identity platform for sensitive assets.
  • Unbill’s API enables companies to offer bill pay in their app or technology platform without complicated integration or high costs.
  • Uniken’s REL-ID, a card-not-present approval solution, uses mobile API tool kits and DMZ software appliances to help enterprises secure mobile communications.
  • Urban FT’s enhanced, white-label digital banking platform gives financial services organizations, wireless carriers, and other consumer-facing organizations a long-term, competitive advantage that makes their brand integral to customers’ daily financial and online social activities, financial tools, and social features.
  • Xentral Station’s supply-chain funding app helps vendors of all sizes receive cash for trade financing within 24 hours.
  • Zenmonics uses a single, common platform to help banks and their customers minimize friction in customer engagement with channelUNITED.
  • Zooz offers an agnostic, cross-border payments platform to help merchants act on payment processes and save money to maintain their client base.

Stay tuned on the blog for more detailed descriptions. And don’t forget to register now to reserve your spot.