Back to Blog

Huntington National Bank Chooses PFM, BFM Solutions from Barcelona-Based Strands

Columbus, Ohio-based Huntington National Bank will offer personal finance management (PFM) and business financial management (BFM) solutions from Spanish fintech, Strands. “We are pushing the envelope and delivering a product that will align seamlessly to Huntington’s brand and unique digital banking experience,” Strands CEO Erik Brieva said.

For Strands the partnership is both an opportunity to expand in the North American market as well as a chance to further demonstrate its technology’s difference from traditional PFMs. Strands’ technology combines machine learning, Big Data, and a streamlined UI to provide a personalized, data-driven banking experience used by more than 600 banks including BBVA, Deutsche Bank, and Bank of Montreal. Payments and Channels Director for Huntington Mark Sheehan, called Strands a ‘leader” in the industry and said the partnership would enable the bank to bring “new, customer-centric, digital banking solutions” to its customers and further separate its offerings from those of its competitors. Huntington National Bank has $101 billion in assets, a network of nearly 1,000 branches, and more than 1,800 ATMs in eight states in the midwest.

Founded in 2004 and based in Barcelona, Spain, Strands demonstrated its Business Financial Management solution at FinovateFall 2016. The company has more than 600 product implementations, with 100 million users in 36 countries. Strands has raised $55 million in funding, and includes Debaeque, Dalbergia, Indigo Investment Corporation, and Sequel Venture Partners among its investors. This spring, Strands announced it would provide the PFM technology for the digital banking service launched by Commercial Bank of Africa, the largest bank in Kenya. In December, the company inked a PFM implementation deal with major Colombian bank, Davivienda.