Sage Capital Bank Partners with Digital Banking Solutions Provider Apiture

Sage Capital Bank Partners with Digital Banking Solutions Provider Apiture
  • Texas-based Sage Capital Bank has partnered with digital banking solutions provider Apiture.
  • Courtesy of the partnership, Sage Capital Bank will deploy Apiture’s Consumer Banking, Business Banking, and Digital Account Opening solutions, as well as its Data Intelligence solution.
  • Headquartered in North Carolina, Apiture most recently demoed its technology at FinovateFall 2023.

Sage Capital Bank, an independent, Texas-based community financial institution, has chosen digital banking solutions provider Apiture to power its online and mobile banking services. The bank will deploy Apiture’s Consumer Banking, Business Banking, and Digital Account Opening solutions and enhance the online and mobile experience for its customers with a modern, intuitive user interface and comprehensive feature set.

The bank will also take advantage of Apiture’s Data Intelligence solution that will enable Sage Capital to offer highly personalized experiences to customers via digital channels to enhance customer satisfaction and engagement.

“At Sage Capital, we recognize that our consumer and business customers are on-the-go and expect banking services that let them bank anytime, anywhere,” Sage Capital EVP and CTO Gene Stroman said. “With Apiture as our partner, we will elevate their digital banking experience through capabilities like peer-to-peer payments, real-time fraud detection, robust business entitlements, and Positive Pay. We are thrilled to work with this forward-thinking solution provider.”

Chartered as American National Bank in 1984 by a team of business owners from Gonzales, Texas, Sage Capital Bank today has $700 million in assets. The bank has branches in eight cities in Texas including Lockhart — where the bank opened its first branch in 1995 — and Austin.

“Apiture and Sage Capital share a commitment to both partnership and innovation, and we are eager to support the bank’s digital evolution and growth objectives,” Apiture CEO Chris Babcock said. “By choosing our comprehensive platform, Sage Capital can deliver a banking experience tailored to its community’s unique needs while delivering the very latest in digital innovation.”

Apiture most recently demoed its technology at FinovateFall 2023. At the conference, Apiture showed how its Sensei solution leverages AI to produce a real-time assessment of a customer’s financial circumstances and provide proactive recommendations customers can follow in order to improve their financial standing. Sensei analyzes data — including transaction history, account balances, and engagement metrics — to help banks and credit unions build better, more personalized relationships with their customers and members.

Founded in 2017, Apiture is headquartered in Wilmington, North Carolina. The company’s partnership announcement with Sage Capital Bank comes one month after Apiture announced a strategic partnership with data-driven statement provider HC3. The partnership will empower Apiture’s community bank and credit union customers to provide account holders with secure, immediate access to digital statements, powered by HC3, directly from their online and mobile banking channels.


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Fintech Rundown: A Rapid Review of Weekly News

Fintech Rundown: A Rapid Review of Weekly News

It’s a holiday-shortened week here at the Fintech Rundown. But rest assured that we’ll have you covered on the the top fintech news headlines as 2024 moves toward a close.

We’re starting off with a series of stories in the embedded finance front, including an acquisition, a new launch, and a major fundraising.


Digital banking

Data-driven statement provider HC3 forges strategic partnership with digital banking solutions company Apiture.

TBC Uzbekistan raises $37 million from majority shareholder TBC Bank Group.

Payments

Visa completes its acquisition of Featurespace.

Turkey-based private bank İşbank expands its collaboration with Alipay+.

Cybersecurity

Chainalysis acquires web3 security solutions provider Hexagate.

Embedded finance

Fiserv boosts its embedded finance capabilities with its acquisition of earned wage access company Payfare.

Embedded SME lending platform CredibleX raises $55 million in seed funding.

Kobble, an embedded finance platform, launches in Australia.

Wealth management

Scalable Capital launches its World ETF, the Scalable MSCI AC World Xtrackers UCITS ETF.

Financial wellness

SoFi reaches ten million member milestone.


Photo by Daniel Reche

Fintech Rundown: A Rapid Review of Weekly News

Fintech Rundown: A Rapid Review of Weekly News

As summer draws to a close, there may be a big acquisition on the horizon in the fraud and financial crime prevention space. Be sure to check in with Finovate’s Fintech Rundown all week long for the latest in fintech news.


Fraud and financial crime prevention

Is Visa looking to acquire fraud fighting platform Featurespace?

Financial wellness

Canadian fintech Koho launches Rent Reporting to help renters improve their credit.

Cryptocurrency / DeFi

Payments bank Banking Circle unveils Euro-pegged stablecoin.

Digital asset infrastructure provider Bitpanda partners with CoinMENA.

Digital banking

MyStateBank turns to Backbase for its new digital banking platform.

Surety Bank partners with Apiture for its digital banking platform.

Lyft teams with earned wage access company Payfare to launch new features for its Lyft Direct debit card and banking app. 

Neobank Comun lands $21.5 million.

G2 Risk Solutions unveils solution to integrate merchant risk management.

Payments

Payments processor Adyen introduces new Chief Technology Officer Tom Adams.

Payroll and payments platform Thera raises $4 million in seed funding.

U.S. Bank acquires healthcare-based payments platform Salucro.

Vault expands payments capabilities of its accounts payable platform.

Viamericas partners with Paisamex to expand remittances to Mexico.

Identity verification

Verification platform Sumsub becomes the first identity verification provider to secure Global Digital Identity Certification (GDIC).

Socure introduces new Chief Revenue Officer Matt Thompson.

AuthenticID unveils enhanced Smart ReAuth for instant biometric reauthentication.

E-commerce

Real-time shopping platform Tilt secures $18 million in Series A funding.

Sephora selects Paze online checkout experience for its Beauty Insider loyalty members.

Lending

FICO unveils new enhancements to its platform to improve real-time decision-making.

Rogers Communications partners with Nova Credit, a cross-border credit bureau, to help newcomers to Canada build credit and finance a new smartphone.

Liberis and Sezzle partner to provide funding to small businesses across the United States.

Happy Money appoints Matt Potere as Chief Executive Officer.

Wealth management and investing

Digital investment platform Webull begins offering options trading to its customers.

Insurtech

Insurance brokerage software provider FullCircl inks multi-year agreement with international insurance intermediary group Howden.

Business finance solutions

Galileo enhances B2B expense management offering with Mastercard Smart Data.

Conotoxia launches multi-currency cards for businesses.

Communication

Glia launches ChannelLess AI-powered interactions for financial services.


Photo by Daniel Frese

Apiture to Power Commercial Digital Banking for FORUM Credit Union

Apiture to Power Commercial Digital Banking for FORUM Credit Union
  • FORUM Credit Union has selected Apiture’s Business Banking solution to enhance its commercial digital banking experience.
  • FORUM Credit Union anticipates the move will expand its commercial member base.
  • “The comprehensive functionality available in Apiture’s Business Banking solution coupled with the company’s commitment to innovation made Apiture the right choice for our members and employees,” said FORUM Credit Union Chief Technology and Risk Officer Cameron Piercefield.

Digital banking solutions provider Apiture announced today that FORUM Credit Union will use the fintech’s digital banking capabilities to power its commercial digital banking suite.

FORUM, a $2.1 billion, not-for-profit cooperative based in central Indiana, selected Apiture’s Business Banking solution to enhance the online and mobile banking experience for its commercial members. The credit union is also hoping to expand its commercial member base. FORUM was interested in Apiture’s ability to create a customized tool that integrates with its existing retail banking solution.

“As a member-owned organization with the mission of ‘helping members live their financial dreams,’ FORUM is committed to providing technology solutions that optimize our members’ banking experience,” said FORUM Credit Union Chief Technology and Risk Officer Cameron Piercefield. “The comprehensive functionality available in Apiture’s Business Banking solution coupled with the company’s commitment to innovation made Apiture the right choice for our members and employees.”

Apiture was founded in 2017 to help credit unions compete with larger banks and credit unions when it comes to digital banking experiences. The company’s solutions, which work with more than 40 cores, offer both consumer and commercial banking experiences, along with account opening, embedded banking, and data intelligence tools. Powering these capabilities are Apiture’s network of more than 200 pre-vetted fintech partners, including GliaDeluxeMXMambu, and DefenseStorm.

“We are proud to partner with FORUM Credit Union to support its growth objectives and drive member satisfaction,” said Apiture CEO Chris Babcock. “With integrations to more than 200 best-of-breed fintech partners and an API-first approach that enables rapid innovation, our Business Banking solution will empower FORUM to deliver a fully featured banking experience that supports businesses of all sizes.”

Headquartered in Wilmington, North Carolina, Apiture also has offices in Austin, Texas. The fintech has raised $69 million from investors including T. Rowe Price, Live Oak Bank, and others.


Photo by Alesia Kazantceva on Unsplash

Apiture to Power Online and Mobile Banking for New Washington State Bank

Apiture to Power Online and Mobile Banking for New Washington State Bank
  • Indiana-based New Washington State Bank (NWSB) has selected Apiture’s Digital Banking Platform to power its online and mobile banking solutions.
  • The community bank will also deploy Apiture’s Account Opening and Data Intelligence solutions to onboard customers faster and to offer tailored campaigns.
  • Apiture made its Finovate debut at FinovateFall 2022. The company is headquartered in Wilmington, North Carolina.

New Washington State Bank (NWSB), a community financial institution serving Southern Indiana for 116 years, has partnered with Apiture to power its online and mobile banking offerings. The bank will deploy Apiture’s Digital Banking Platform, and implement the fintech’s Consumer Banking, Business Banking, Account Opening, and Data Intelligence solutions.

“With integrations to more than 200 best-of-breed fintech partners and an API-first approach that enables rapid innovation, the Apiture Digital Banking Platform will empower NWSB to provide the unified, intuitive banking experience today’s technologically savvy customers expect,” Apiture CEO Chris Babcock said.

The partnership follows the bank’s decision to migrate from a multi-vendor strategy to a single platform for both its online and mobile banking operations. NWSB Chief Strategy Officer Chris Bottorff said that providing a “cohesive and consistent digital experience” is a priority for the institution as it seeks “to improve the financial lives of those living and working in the communities we serve.” Bottorff praised Apiture as a partner that will help the Indiana-based bank better engage its existing customers as well as attract new ones.

To this point, NWSB underscored its readiness to take advantage of two of Apiture’s solutions in particular: Account Opening and Data Intelligence. The former enables customers to open and fund accounts in minutes. The latter provides tools to build personalized campaigns to better engage both individuals and businesses.

Headquartered in Wilmington, North Carolina, Apiture made its Finovate debut at FinovateFall 2022 and returned the following year to demo at FinovateFall 2023. At the conference, Apiture showed how its AI-based solution, Sensei, provides a real-time assessment of an individual’s finances. The technology analyzes a variety of data sources, including account balances and transaction histories, to provide proactive insights into the ways the individual can improve their financial wellness.

Apiture’s partnership news with NWSB comes just a few weeks after the fintech reported that Edwards Federal Credit Union (Edwards FCU) of California had selected its Consumer Banking solution. Like NWSB, Edwards FCU will also deploy Apiture’s Data Intelligence solution as part of its data strategy. Apiture began 2024 by teaming up with Redwood Capital Bank, which chose Apiture’s Digital Banking Platform to power its online and mobile banking operations.

Apiture has raised $69 million in funding. The company includes T. Rowe Price and Live Oak Bank among its investors.


Photo by Corbin Mathias on Unsplash

Apiture Garners $10 Million in Funding

Apiture Garners $10 Million in Funding
  • Apiture received $10 million in funding, bringing its total raised to $79 million.
  • The round was led by funds and accounts advised by T. Rowe Price with participation from existing investors.
  • Apiture offers credit unions access to a digital banking platform that ties in partnerships with more than 300 fintechs.

Digital banking solutions provider Apiture landed a $10 million funding round this week. The Venture round was led by funds and accounts advised by T. Rowe Price with participation from existing investors Live Oak Bank, Truist Ventures, and Pinnacle Financial Partners. The fresh funds boost Apiture’s total funding to $79 million.

The Wilmington, North Carolina-based company will use the $10 million to accelerate product development initiatives. It will also expand its sales and marketing efforts for its Apiture Digital Banking Platform. Launched last year, the company’s Digital Banking Platform serves more than 300 banks and credit unions.

“Apiture is relentlessly focused on delivering best-in-class digital banking solutions through continuous innovation and integrations with best-of-breed fintechs,” said company CEO Chris Babcock. “This additional funding enables us to further accelerate development initiatives that will help our clients thrive in a highly competitive market.”

Founded in 2017, Apiture helps credit unions compete with larger banks and credit unions when it comes to digital banking experiences. The company’s solutions, which work with more than 40 cores, offer both consumer and commercial banking experiences, along with account opening, embedded banking, and data intelligence tools. Powering these capabilities are Apiture’s network of more than 200 pre-vetted fintech partners, including Glia, Deluxe, MX, Mambu, and DefenseStorm, which signed with Apiture earlier this month.


Photo by Francesco Gallarotti on Unsplash

FinovateFall 2023 Sneak Peek: Apiture

FinovateFall 2023 Sneak Peek: Apiture

A look at the companies demoing at FinovateFall in New York on September 11 and 12. Register today and save your spot.

Apiture delivers award-winning digital banking solutions to financial institutions throughout the U.S., including consumer/business banking as well as innovative data intelligence and embedded banking.

Features

Apiture’s AI-based tool, Sensei, provides

  • Real-time insights and recommendations about financial standing
  • Insights based on customer data
  • Greater customer stickiness

Why it’s great

Sensei from Apiture empowers financial institutions to establish highly personalized, consultative relationships with their customers in the digital environment.

Presenter

Daniel Haisley, Executive VP of Innovation
Haisley leads Apiture’s innovation efforts encompassing data intelligence and API banking solutions.
LinkedIn

State Employees Credit Union Turns to Apiture to Enhance Online, Mobile Banking

State Employees Credit Union Turns to Apiture to Enhance Online, Mobile Banking
  • State Employees Credit Union (State ECU) has teamed up with digital banking solutions provider Apiture.
  • State ECU will leverage Apiture’s Digital Banking Platform to offer its members an enhanced online and mobile banking experience.
  • Wilmington, North Carolina-based Apiture made its Finovate debut last year at FinovateFall.

New Mexico-based State Employees Credit Union (State ECU) announced a partnership with digital banking solutions provider Apiture. The 65-year old financial institution will leverage the Apiture Digital Banking Platform to offer its members an enhanced online and mobile banking experience.

Headquartered in Wilmington, North Carolina, Apiture offers technology that helps smaller banks and credit unions compete with their larger rivals – as well as launch their own digital-only brands. State ECU will take advantage of both Apiture’s Consumer Banking and Business Banking solutions, as well as the fintech’s Data Intelligence technology. This latter solution is designed to promote digital engagement with both consumers and businesses using highly personalized offers.

“By providing a modern, fully featured consumer and business banking experience, State ECU is poised to deepen member engagement and drive significant growth,” Apiture CEO Chris Babcock said.

Apiture made its Finovate debut at FinovateFall in 2022. At the event, the company demoed an embedded finance solution that enabled users to conduct basic banking tasks from within third-party software. Whether the goal is to open an account, view balances, or transfer funds, Apiture’s embedded finance technology empowers customers without requiring them to visit their bank’s website. The technology gives financial institutions a new revenue stream, and provides customers with greater convenience and an enhanced user experience.

Apiture has more than 300 community and regional financial institution clients. The firm also has partnered with 200+ fintechs. Formed as a joint venture between First Data Corporation and Live Oak Bank in 2017, Apiture has earned recognition from Celent, Javelin, and Juniper for its small business and consumer banking solutions. The company’s API-first strategy gives smaller financial institutions extensive control over the UI, as well as the ability to create unique customer experiences via Apiture’s developer portal.

With more than $1 billion in assets, State ECU is New Mexico’s fifth largest credit union. Founded in 1958, State ECU boasts more than 52,000 members.


Photo by Michael Herren

Apiture Unveils New Data Engage Solution to Help Banks Better Leverage Data

Apiture Unveils New Data Engage Solution to Help Banks Better Leverage Data
  • Apiture, a digital banking solutions provider, launched its Data Engage solution this week.
  • The new offering helps financial institutions access data-driven insights into how their customers are using Apiture’s digital banking platform.
  • Data Engage was made possible courtesy of a partnership between Apiture and Pendo. Both companies are based in North Carolina and made their Finovate debuts this year.

Digital banking solutions provider and new Finovate alum Apiture introduced its Data Engage solution this week. The technology, made possible courtesy of a partnership with fellow Finovate newcomer Pendo, will give banks and other financial institutions access to data-driven insights into how their customers are using Apiture’s digital banking platform. Data Engage further gives these firms tools to provide in-channel guidance and personalized messages to boost customer engagement. Pop-up messages, marketing notices, tutorials, and more are examples of the kinds of communications that can be leveraged to educate users and encourage adoption of new features.

The new offering is the first of four modules available from Apiture’s Data Intelligence solution. This technology gives users a variety of data analytics and benchmarking tools to help attract, retain, and cross-sell digital banking customers.

“With Data Engage, our clients can easily evaluate their users’ activities and enhance the online experience using no-code, highly intuitive tools that promote the expanded use of digital banking capabilities,” Apiture CEO Chris Babcock said.

Taking the Finovate stage for the first time at FinovateSpring in May, Pendo offers analytics, in-app guidance, and feedback capabilities to enable developers to create software that delivers better, more productive experiences for users. Based in Raleigh, North Carolina, Pendo claims that its “software that makes your software better” produces 15% decrease in support tickets, 30% more qualified leads, and a 5% reduction in customer churn.

“This partnership enables Apiture’s clients to harness data-driven intelligence,” Pendo co-founder and CEO Todd Olson said. “It maximizes user engagement with their digital banking solution. And the best part? It delivers a better user experience.”

Headquartered in Wilmington, North Carolina, Apiture made its Finovate debut in September at FinovateFall. At the conference, the company demoed its technology that can embed banking capabilities into the software of non-financial, third-party businesses. Apiture used the example of a travel agency that had embedded its technology to support basic banking tasks such as opening an account, viewing account balances, and transferring funds between accounts.

Apiture’s new product news comes in the wake of the company’s latest partnership announcement. In September, Apiture announced that Newtek Business Services Corporation had selected its digital banking platform to support the digital capabilities of Newtek Bank. Over the summer, Apiture reported that it had secured $29 million in funding in a round led by Live Oak Bank. The investment boosted the North Carolina-based fintech’s total funding to $69 million.

Founded in 2017 as a joint venture between First Data Corporation and Live Oak Bank, Apiture has more than 300 bank and credit union clients in the U.S. – and more than 300 employees of its own. With more than 40 core interfaces and over 200 fintech partners, Apiture’s digital banking platform has been praised by entities ranging from Javelin and IBS Intelligence to American Banker and Forbes.


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FinovateFall 2022 Sneak Peek: Apiture

FinovateFall 2022 Sneak Peek: Apiture

A look at the companies demoing at FinovateFall in New York on September 12 and 13. Register today and save your spot.

Apiture’s embedded banking tools allow financial institutions to embed financial services into non-bank partners’ software, extending these services to new users and giving more convenient banking options.

Why it’s great

Embedded banking enables financial institutions of any size to create new revenue streams by attracting users outside of their existing geographic footprint and cross selling in new ways.

Presenters

Daniel Haisley, EVP of Innovation
Haisley leads Apiture’s innovation efforts encompassing Data Intelligence and API Banking solutions. He has an extensive background in product and design management and, prior to his time at Apiture, Haisley held product leadership roles at Live Oak Bank and 1st Source Bank. He brings 10+ years of experience driving innovation in technology for financial institutions.

Haisley is a graduate of Purdue University in West Lafayette, IN, where he earned a B.S. in Financial Counseling & Planning, and the Graduate School of Banking at the University of Wisconsin in Madison, WI.
LinkedIn

Danielle Eriksson, Director of Product Management
Eriksson is responsible for leading the API Banking and Embedded Banking initiatives on the Innovation team. She has experience in capital markets, building financial products for retail and institutional investors, as well as building financial technology solutions to help financial institutions improve cost efficiencies, engage customers, and ultimately grow the balance sheet.

Eriksson graduated from Tufts University, where she earned a bachelor’s degree in Economics. She is currently pursuing a master’s degree in Quantitative Management and Business Analytics from the Fuqua School of Business.
LinkedIn