Category: Payment Management


Unlocking AI’s Potential in Banking: Mitigating Security, Compliance, and Reputational Risks for Financial Institutions
May 16, 2023

Unlocking AI’s Potential in Banking: Mitigating Security, Compliance, and Reputational Risks for Financial Institutions

in Fintech , IT Management , Tips and Tricks

With the booming popularity of OpenAI’s ChatGPT, Artificial Intelligence (AI) is once again the hottest topic in technology. As the widespread adoption of AI in everyday practical applications becomes more of a reality, the banking industry grows more eager to deploy AI-based solutions. The possibilities range from smart chatbots that handle customer inquiries with high […]

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6 Banking Integration Lessons Learned One Month After SVB Collapse
April 12, 2023

6 Banking Integration Lessons Learned One Month After SVB Collapse

in Banking Core Integration , Digital Transformation , Fintech

It all started on a Thursday with a phone call from our CEO, David: “Are you on top of this SVB thing?” By the end of the weekend, Silicon Valley Bank (SVB), one of the most storied banks in the technology industry, had collapsed, the FDIC had taken control, and our team had been all-hands-on-deck […]

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Open Banking API: Building a Universal Data Model for Fintech Integration to the Core
April 4, 2023

Open Banking API: Building a Universal Data Model for Fintech Integration to the Core

in API Management , Banking Core Integration , Fintech

Integrating with the core is hard. In general, the challenges involve legacy systems, data security concerns, regulatory compliance requirements, system complexity, and vendor dependencies. The difficulty is further complicated because each banking core possesses integration nuances specific to its technology. Imagine the impact on innovation in financial services if those subtleties were addressed through standardization. […]

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American Bankers Association: Middleware Helps Banks Minimize Dependencies and Unleash Innovation
March 9, 2023

American Bankers Association: Middleware Helps Banks Minimize Dependencies and Unleash Innovation

in API Management , Banking Core Integration , Fintech

The American Bankers Association (ABA) released its 2022 Exploring Banking Middleware Solutions report detailing the strategic benefits of implementing middleware for banks. Community banks’ potential to innovate directly relates to their connection with the core banking vendor. However, according to ABA, nearly 42% of banks surveyed are dissatisfied with their core provider. As a result, […]

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Community FIs Need to go Beyond Banking Core Integration to “CICaaS”
February 9, 2023

Community FIs Need to go Beyond Banking Core Integration to “CICaaS”

in Banking Core Integration , Fintech

Banks and credit unions require more than just integration between their banking core and other systems. Many community financial institutions (FIs) are looking for a connectivity solution that makes integration easy and repeatable, freeing them from the constraints of their core vendor. Once this solution is in place, community FIs often wish to build upon […]

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Is Your Financial Institution Paying Twice to Access the Data It Already Owns?
January 25, 2023

Is Your Financial Institution Paying Twice to Access the Data It Already Owns?

in Banking Core Integration , Digital Transformation , Fintech , IT Management

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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Why Every Bank and Credit Union Needs a Fintech Hub
December 15, 2022

Why Every Bank and Credit Union Needs a Fintech Hub

in Banking Core Integration , Fintech

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
December 1, 2022

Open Banking: Answers to 3 Frequent Questions From Financial Institutions

in API Management , Banking Core Integration , Fintech

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
September 29, 2022

FedNow Early Adopters Are Enabling Instant Payments Innovation With the Federal Reserve

in Banking Core Integration , Fintech , Payment Management

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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