Digital banking provider Bankjoy merges with Fiserv Portico

• Digital banking provider Bankjoy has announced integration with Fiserv Portico, a full-service account processing system.
• This integration will enable credit unions working with Fiserv Portico to offer their members an online and mobile banking experience with a modern and intuitive UX.
• Headquartered in Detroit, Michigan, Bankjoy recently demonstrated its technology at FinovateFall 2022.

Michigan-based digital banking provider Bank Joy integrated with fiserv Portico, a full-service account processing system. This integration will enable credit unions using Fiserv Portico to offer an online and mobile banking experience that attracts new members and engages current members.

Bankjoy CEO Michael Duncan said: “The integration with Fiserv Portico aims to solve this by giving credit unions the flexibility to deploy the digital banking capabilities that today’s members expect in the most efficient and cost-effective manner. is.”

Founded in 2015 and built by credit union executives, Bankjoy enables credit unions to offer a wide range of modern banking services. These services include mobile and online banking, electronic statements, online account opening, online loan origination, conversational AI, and more.

“Continued digital transformation over the last decade has increased the need for financial institutions of all sizes to deliver a state-of-the-art digital banking experience,” said Duncan. “Their success as an institution depends on this,” he said, according to McKinsey & Company research, which found that the best performing financial institutions had an average of 24 to 28 digital banking accounts per account holder each month. I added that I am receiving logins. These digital banking customers drive an average revenue growth of 10% to 15% each year.

Bankjoy recently demonstrated its technology at FinovateFall 2022 in New York. At the conference, the company showed how. business banking platform provides SMEs with a single portal for multiple business accounts, allowing them to manage multiple users, control permissions, send money to multiple recipients, and more.

In addition to its integration with Fiserv Portico, Bankjoy also has out-of-the-box integrations with third-party partners ranging from Allied Payments and Savvy Money to Vertifi and UrbanFT. This week’s integration news comes a month after Bankjoy announced it had secured new funding in a round led by Curql Collective. Terms of the investment were not disclosed. Duncan said the capital will help the company “help more regional financial institutions thrive in an increasingly competitive environment.”

Photo credit: Anon

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