Although financial institutions (FIs) already know they must modernize infrastructure to survive and compete, many resist launching transformation initiatives. Fear of the new and unknown is a primary reason that FI decision-makers find themselves stuck in “traditional” methods. Financial technology and open source can be scary concepts until you thoroughly understand them. An API-led, open […]
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Blog Page 2
Category: IT Management
Why Every Bank and Credit Union Needs a Fintech Hub
When I joined PortX in August 2017, it was a scrappy startup with a reputation as one of the premier MuleSoft integration consulting partners (winner of two Partner-of-the-Year awards). At the time, PortX had begun its transformation from a pure-play integration consulting firm to a payment and integration software company focused on serving community banks, […]
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Open Banking: Answers to 3 Frequent Questions From Financial Institutions
Open banking enablement should be a big part of any conversation in financial services, whether you’re listening to the latest banking podcast, attending a conference, or talking with your vendor about a renewal. However, in the absence of regulated open banking standards in the US, the term’s meaning can vary significantly depending on the speaker […]
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FedNow Early Adopters Are Enabling Instant Payments Innovation With the Federal Reserve
We recently participated in the FedNow early adopter workshop. The goal of the two-day event was to accelerate connected financial institutions’ ability to support FedNow services. As one of the 120+ organizations participating in the Federal Reserve’s Pilot Program, we attended the event alongside our FedNow pilot partner, Choice Bank, to learn more about how […]
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Rapid Developer Enablement: Choice Bank & PortX Onsite Hackathon
In this post, Charles Colt, VP of Customer Engagement, provides a glimpse of how we work side-by-side with our customers as partners. This real-life portrayal comes from the recent joint hackathon we conducted with our client, partner, and investor, Choice Bank. The event was part of Choice’s PortX enablement roadmap to equip its team with […]
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Embedded Finance a Primary Theme at LendIt’s Fintech Nexus Conference
Fintech Nexus USA 2022 (previously LendIt Fintech) is one of the most fintech-focused events we have attended this year. We were excited to join our investor, Carey Ransom, and his team at BankTech Ventures, along with several portfolio members and accelerator participants, including Fintel, NyDig, and DocFox. The event allowed us to engage with many […]
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The “Fintech Hub” – Solving the Broken Link Between Fintech and Financial Institutions
In this post, PortX CTO, Kent Brown, explains how cloud architecture, virtual private networks (VPNs), virtual private clouds (VPCs), and AWS PrivateLink combine to form the “Fintech Hub” for financial services – an affordable, scalable, and secure connection between financial institutions and fintechs. Trouble in the “Era of fintech” A new wave of real-time payment […]
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Evolving the CIO Role in the ‘Era of Fintech’ – from Information to Integration to Innovation
For far too long, IT teams at community financial institutions have centered around integrating with the banking core. In the meantime, financial services have quickly evolved beyond simple point-to-point application integrations. Unprecedented customer demand and new consumer behavior have introduced a proliferation of new technologies and are redefining the role of the bank CIO. In […]
Read More >Sponsor Banking: Choice Bank Enables PortX API for Automating Process Flow and Connectivity to Wire Transfers and ACH
During IBM’s TechCon 2022 conference, we presented the technical details of integrating our new Fedwire-as-a-Service solution using IBM MQ – the required middleware for connecting to the Federal Reserve. Fedwire-as-a-Service (FaaS) is a cloud-native, API-led integration to the Fedwire Funds Service. It includes a fully-automated wire transfer process for banks and their Fintech partners. However, […]
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