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PortX Fintech News
In this edition:
ACH enhancements and stronger OFAC controls within Payment Manager
API Creation Automation accelerating secure, production-ready API delivery
Platform upgrades across Integration Manager and Data Manager
Cornerstone’s Critical 5 analysis and what it means for your modernization strategy
New case study: Plains Commerce Bank automates mortgage loan boarding
Have feedback? Email us at hello@portx.io.
Latest Industry News
Core modernization conversations are evolving.
Cornerstone Advisors’ recent article, “Modernize This: Core Systems and the Critical 5,” reframes modernization around five capabilities that determine whether transformation efforts actually succeed. Rather than focusing solely on core replacement, the article emphasizes strengthening the surrounding architecture.
The Critical 5 include:
System integration across third parties and internal applications
Vendor accountability and communication
Robust, reasonably priced APIs
Cloud-native development capability
Effective data management across the stack
This perspective reinforces a broader industry shift. Modernization is not a one-time technology event. It is the ability to change repeatedly, safely, and at scale.
Why this matters to financial institutions:
Banks and credit unions that lack strong integration, governed data, and reusable APIs often find that even well-funded core initiatives stall under operational friction. Timelines slip. Vendor dependencies grow. Innovation slows. By contrast, institutions that invest in these five capabilities gain greater control over their modernization path. They can onboard fintech partners faster, launch new products with fewer bottlenecks, strengthen compliance oversight, and adapt to new payment rails or regulatory requirements without restarting their architecture.
The core still matters. The ecosystem around it now determines speed, resilience, and long-term competitiveness.
Our own Shelba Murphy, SVP Sales, Partnerships, expanded on this conversation in her follow-up article, Stop Obsessing Over the Core: Why Integration Will Determine Banking Survival, which explores how integration strength and data readiness ultimately define modernization success.
👉 Read Shelba’s blog here.
PortX Platform Updates
Over the last couple of months, we focused on making it faster and easier for financial institutions to integrate systems, govern data, scale payments, and deploy APIs with confidence.
Here is what’s new across the PortX Platform.
Integration Manager
We introduced a new guided Integration Creation Wizard that replaces ad hoc configuration with a structured, step-by-step workflow. Teams can upload Swagger or OpenAPI specifications, map operations to standard ORCA endpoints, track onboarding requirements, and monitor integration health from a centralized dashboard.
The practical benefit is speed and clarity. Financial institutions can onboard partners faster, reduce implementation back-and-forth, and gain better visibility into deployment progress across environments.
Learn more about Integration Manager.
Data Manager
Data Manager capabilities are now more tightly integrated into the onboarding process. Institutions can enable Data Manager APIs during integration setup and access analytics and visualization tools directly within the portal.
This ensures data is governed and usable from day one. Teams gain faster insight into operational performance and transaction activity without relying on disconnected reporting tools.
Watch the Data Manager demo video.
Payment Manager
ACH Manager enhancements strengthen ACH processing across the full transaction lifecycle. From transfer creation and validation through funding, settlement, returns, and notifications of change, institutions operate with a single system of record.
PortX has also strengthened its built-in OFAC screening within Payment Manager to provide stronger protection against sanctioned actors. With enhanced validation controls and clearer audit visibility, banks can more confidently detect, review, and block high-risk transactions before they reach the Federal Reserve.
Support for Same-Day ACH and all six Federal Reserve processing windows helps institutions scale transaction volume while maintaining strong compliance and risk controls. The outcome is more resilient ACH operations with tighter governance as digital payment activity continues to grow.
Learn more about Payment Manager.
API Creation Automation (API Factory)
API Factory now automates end-to-end API generation and deployment. With a single API request, institutions can generate a fully deployed and secured API built from the FinTech Process API template. The system automatically provisions GitHub repositories, triggers CI/CD workflows, deploys via GitOps and ArgoCD, and configures OAuth2 and JWT security through Keycloak.
API Factory generates services directly from mapping specifications created in PiXi Data Mapper. This removes the manual translation between data mapping and API development, ensuring consistency from mapping design through deployment.
Generation status is tracked from PENDING through DEPLOYED, and institutions receive production-ready outputs including endpoint URLs, client credentials, token endpoints, and example requests.
The benefit is standardized API delivery with built-in security and deployment workflows, reducing manual engineering steps and increasing consistency across environments.
What’s on Our Roadmap?
We are expanding multi-operation API support within API Factory, strengthening role-based security controls, and enhancing payment orchestration capabilities. Our roadmap continues to center on one principle: unify integration, payments, data, and AI into a governed architecture that enables institutions to modernize confidently and scale without added complexity.
Payment Manager
On the payments side, we are advancing real-time and wire capabilities while strengthening compliance and decisioning controls across ACH, FedNow, and Fedwire. This includes enhancements to business rule enforcement, fraud and OFAC oversight, audit visibility, and automation within the ACH lifecycle. The goal is to give institutions greater operational control as payment volumes and regulatory expectations continue to rise.
Data Manager
For Data Manager, we are expanding core ingestion and database connectivity while introducing AI-enabled capabilities directly within the data layer. Enhancements to analytics distribution and conversational interfaces will further improve how teams access, interpret, and operationalize governed data. These updates reinforce a unified data foundation that supports reporting, automation, and AI initiatives across the enterprise.
Announcements
New Case Study: Plains Commerce Bank Automates Mortgage Loan Boarding and Improves Efficiency by up to 90% with PortX
Plains Commerce Bank transformed its mortgage loan boarding process using PortX Integration Manager, replacing a manual, time-consuming workflow with near-touchless automation. What once required a full day of effort across multiple staff members now takes seconds per loan, delivering up to a 90% increase in operational efficiency. The bank also gained clearer error visibility, stronger data consistency, and improved confidence in compliance.
“What used to take an entire day across multiple people has been reduced by nearly 90%,” said Brittni McGee, Senior Vice President of Operations at Plains Commerce Bank. “That level of automation and visibility exceeded our expectations going into the project with PortX and has completely changed how we think about loan boarding and how we run our operations.”
👉 Download the full case study now.
What’s New in the Blog?
Banking APIs for Embedded Finance
CEO David Wexler explores why embedded finance is fundamentally a distribution strategy and how reusable, governed banking APIs determine whether institutions remain essential to business customers.
Why this matters: Banks and credit unions that embed services directly into business workflows deepen relationships, increase deposit stickiness, and protect long-term relevance.
👉 Read the full article on our blog.
Building AI-Enabled Financial Applications (7-Part Series)
We recently completed our seven-part series exploring how AI reshapes the full application lifecycle, from intelligent design and feature discovery to predictive planning, AI-augmented engineering, smart testing, AI-driven release coordination, and responsible innovation.
Why this matters: Financial institutions that apply AI across design, delivery, and governance can modernize faster while maintaining trust, compliance, and operational control.
👉 Visit the series hub to explore all seven articles.
Mark Your Calendar
Connect with the PortX team at these upcoming industry events:
America’s Credit Union GAC
Washington, DC / March 1–5
Fintech Meetup
Las Vegas, NV / March 30–April 1
Help Share PortX Fintech News
Don’t keep us a secret! PortX is removing the barriers that impede innovation in financial services. We build infrastructure that delivers open access to data, simplified application connectivity, and accelerated adoption of new technologies and networks.
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In this edition of PortX Fintech News, we spotlight how PiXi AI turns plain-speak prompts into trustworthy data visualizations, recap new self-service features that speed onboarding, share the latest PiXi Data Mapper upgrades, and announce a new partnership with Bud Financial aimed at supercharging customer enrichment and engagement.
Have feedback? Email us at hello@portx.io.
Navigating Two Fronts of Regulatory Change
Financial institutions are facing pressure on two fronts.
First, the Consumer Financial Protection Bureau (CFPB) is under political fire, with new proposals in Congress aiming to cut its budget by half. If successful, reduced funding could weaken the Bureau’s enforcement capabilities, particularly around consumer protections in lending, payments, and data transparency.
While some see this as regulatory relief, others view it as heightened uncertainty. Banks and Credit Unions must weigh how much to invest in compliance when the watchdog’s reach could shift dramatically.
At the same time, Deloitte’s 2025 Banking Regulatory Outlook underscores that financial regulation is only becoming more complex, not less.
Key themes include heightened supervisory expectations for operational resilience, stricter governance around third-party risk, and rising demands for transparency in data handling. Even if the CFPB’s scope narrows, regulators at large are aligning around stronger oversight of liquidity, cyber resilience, and consumer data practices.
For financial institutions, these crosscurrents create a paradox. A weaker CFPB could free up resources in the short term, but broader compliance pressures continue to mount. Institutions that pause modernization risk being caught off guard when rules shift back toward stricter enforcement.
Modern integration platforms enable banks and credit unions to future-proof compliance strategies by unlocking secure access to core data and streamlining integration with fintechs, payment networks, and RegTech solutions. Choosing an API-first, modular architecture helps institutions stay agile by building reusable connections that minimize the cost of responding to regulatory change, no matter which direction the pendulum swings.
In practice, that means faster onboarding of compliance partners, easier reporting against new transparency standards, and resilience across all core-dependent systems. By preparing for both contraction and expansion in oversight, financial institutions can move from reactive compliance to proactive innovation.
For leaders balancing uncertain enforcement with long-term regulatory expectations, the message is clear: agility is the best form of protection.
Facing the same regulatory paradox?
Let’s talk about how PortX can future-proof your compliance strategy today. Start a conversation today.
PortX Product Updates
1. Data Manager
The next evolution of Data Manager is built on the power of PiXi AI to make financial data truly conversational and instantly explorable. Imagine asking questions in natural language prompts, such as “Show ACH returns by originator this quarter,” and watching trusted, governed data come to life through clear visualizations and interactive insights.
No SQL. No ETL pipelines. No data wrangling. Just answers that move you from question to visualization to decision in seconds.
Stay tuned for the full reveal. Better yet, schedule a demo with our team today.
2. Integration Manager: New Self-Service Features
Spin up connectivity and access in under an hour. Integration Manager now includes:
Self-Service VPN: Set up a secure IPsec tunnel from a simple form—no tickets required.
Enterprise SSO: Use your existing IdP (Okta, Entra, PingID, Google) with SAML/OIDC to streamline sign-in.
Custom Roles: Define fine-grained permissions at the API Gateway—fast, visual, and code-free.
Read more on the blog.
3. Payment Manager
Payment Manager has rolled out several exciting updates! FedNow V1 APIs are now live for instant payments, and our wire product has moved to ISO20022, keeping all features fully supported. Fund management improvements now help banks reduce failed outbound wires by managing overdrawn funds before transactions are initiated. Plus, we’ve integrated Verafin for real-time wire fraud detection, giving customers added peace of mind.
4. PiXi Data Mapper: Smarter, More Reliable & User-Friendly
PiXi Data Mapper boosts reliability and speed with multi-file schema uploads, smarter validations, clearer rule naming, and broad stability improvements—shrinking timelines while improving testability and confidence.
Read more on the blog.
5. Platform Update
You don’t need as much VPN tooling for common tasks!
We’ve made the product more accessible so you can securely access the Observability, Development, and Monitoring modules when logged into your tenancy—no separate Tailscale step needed for these areas. Other private resources will still require a VPN or in-product access, but this change covers most day-to-day workflows.
What’s on our roadmap?
We’re extending PiXi AI with even smarter, auto-suggested mappings and expanding libraries of pre-built financial data models, and engineering new capabilities in PiXi Data Mapper to handle large files and multi-part schema isolation with ease. Across the PortX ecosystem, PiXi will continue to deliver faster, more reliable insights. On Integration Manager, expect continued investments that cut onboarding friction and enhance governance—so institutions can move quickly with stronger controls.
Announcements
New Investors: Allied Solutions and the American Bankers Association
We’ve closed a new strategic growth round backed by two of the most respected organizations in financial services — Allied Solutions and the American Bankers Association (ABA) — alongside renewed participation from existing investors. The announcement marks a major milestone in our mission to empower financial institutions with AI-powered data integration that enables them to move faster, innovate confidently, and compete on equal footing.
“To stay competitive, banks must embrace faster, more flexible ways to deliver products and services,” said ABA President and CEO Rob Nichols. “Fintech partnerships with companies like PortX are essential to driving innovation in banking, and our investment will get this technology in the hands of banks even sooner.”
Together, these partnerships signal growing industry alignment around PortX’s vision for open, connected banking.
Read the full announcement here.
New Partner: Bud Financial
We recently partnered with Bud Financial to make it dramatically easier for banks and credit unions to turn raw transactions into enriched insights and targeted engagement—backed by PortX’s deep core connectivity.
“Open, real-time access to data is the foundation for every innovation in financial services,” said David Wexler, CEO at PortX. “Bud Financial’s personalized banking models are a big boost to the data connectivity and integration work we do for our customers. By partnering with Bud, we’re not just simplifying connectivity—we’re enabling banks and credit unions to use their data more intelligently to make better decisions, unlock a 360-degree view of their customers, and deliver personalized services faster than ever before.”
Read the full announcement here.
Find our team at these upcoming events:
Money 20/20
Las Vegas, NV / October 26-29
VentureTech
Frisco, TX / November 3-5
Finastra User Connect
Orlando, FL / November 18-20
Help share PortX Fintech News
Don’t keep us a secret! PortX is removing the barriers that impede innovation in financial services. We build infrastructure that delivers open access to data, simplified application connectivity, and accelerated adoption of new technologies and networks.
Share this email with friends.
Sign up for the Newsletter here.
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Please send feedback to hello@portx.io
PortX Fintech News
In this edition of PortX Fintech News, we highlight community banks pioneering high-value FedNow instant payments, explore how PiXi AI revolutionizes data mapping and compliance, and introduce new product updates like the PiXi AI Data Mapper and automated mTLS management. Discover how these innovations empower financial institutions to navigate integration complexities, enhance security, and drive strategic growth.
Have feedback? Email us at hello@portx.io.
FedNow’s Quiet Shift: Community Banks Lead the Way in High-Value Instant Payments
When FedNow launched in July 2023, its promise was straightforward: Venmo-like convenience within the banking system. Initially, the platform saw modest use, with average transaction values around $323. Yet by Q3 2024, something surprising unfolded—the average payment skyrocketed beyond $51,000, eventually settling near $37,000 by early 2025.
What’s behind this dramatic surge? Banks have moved beyond small P2P tests and are now leveraging FedNow for substantial B2B transactions, supplier payments, and treasury sweeps. This transition makes liquidity controls crucial, as a single batch can instantly empty an account, elevating intraday funding and monitoring from optional to essential.
While headlines often highlight large banks, FedNow’s true trailblazers are community and regional institutions. Over 95% of FedNow participants are small-to-midsize banks and credit unions. Core banking providers such as Jack Henry, serving 339 live FedNow clients (about 28% of all active participants), have made it easier for these institutions to adopt instant payments swiftly.
Community banks are proactively adopting FedNow as a defensive strategy against fintech competitors, protecting commercial deposits from migrating to non-bank apps. They benefit from streamlined decision-making, allowing quicker implementation compared to larger institutions bogged down by bureaucracy.
However, these banks also face new challenges: liquidity shocks, instantaneous fraud risks, and complex integrations across multiple payment rails. PortX addresses these issues by providing a unified API across FedNow, RTP, ACH, and wire transfers, coupled with real-time controls and intuitive dashboards, ensuring community banks remain confidently in control of their high-value instant payment strategies.
Learn more about how we can simplify FedNow integration, enhance liquidity management, and help your bank or credit union navigate instant payment complexities with confidence. Start a conversation today.
Accelerate Compliance and Innovation with PiXi’s AI-Driven Data Mapping
As artificial intelligence continues to reshape the banking sector, institutions face increased pressure to rapidly update their cybersecurity and risk management frameworks. Recent guidance from the New York State Department of Financial Services (NYDFS) emphasizes the importance of addressing AI-related cybersecurity risks, such as deepfakes and sophisticated social engineering attacks. To remain compliant, banks must regularly update risk assessments, strengthen data governance, and enhance staff training specific to AI technologies.
PiXi, PortX’s new proprietary AI engine, is transforming this compliance challenge into an opportunity for efficiency and innovation. PiXi’s advanced data mapping capabilities significantly streamline a typically tedious process, reducing project timelines by up to 40%. This automation accelerates compliance and enables institutions to swiftly adapt to evolving cybersecurity regulations.
With intelligent algorithms capable of recognizing and matching data fields across diverse systems, PiXi ensures accuracy and compliance throughout integration processes. Its intuitive, user-friendly interface allows both technical and non-technical teams to effectively collaborate, ensuring thorough data governance and robust AI integration.
Discover how PiXi empowers your institution to accelerate compliance, foster innovation, and strategically enhance your AI governance framework. Start a conversation with our team today.
PortX Now Available Through AWS Marketplace
PortX Integration Manager is now available via AWS Marketplace, simplifying API development and accelerating open banking initiatives for financial institutions. Leveraging AWS’s powerful infrastructure, Integration Manager provides seamless scalability, robust security, and streamlined procurement processes. This strategic expansion enables banks and credit unions to quickly deploy innovative integration solutions, reduce complexity, and drive digital transformation efforts. Visit AWS Marketplace or contact PortX at hello@portx.io to learn more.
Fintech Hub Product Update
PiXi Data Mapper
PiXi Data Mapper, the inaugural tool under our new PiXi brand, automates the traditionally labor-intensive task of data mapping within Integration Manager. Leveraging advanced, context-aware AI algorithms, PiXi Data Mapper intelligently identifies and matches data fields, even when naming conventions differ, significantly reducing mapping efforts from weeks to mere minutes. With an intuitive, user-friendly interface, both technical and business teams can seamlessly collaborate, ensuring high accuracy and efficiency. Now available in beta, PiXi Data Mapper enables financial institutions to accelerate integration projects, reduce errors, and redirect resources toward strategic initiatives.
Check out the PiXi Data Mapper announcement on our blog.
Automated mTLS Management
Automated mutual Transport Layer Security (mTLS) credential management is now generally available in Integration Manager, enhancing security for Integration Manager-hosted APIs. Unlike OAuth-based client secrets, mTLS employs certificate-based authentication, significantly reducing unauthorized access and man-in-the-middle attack risks.
The new mTLS feature introduces Service Principals, a credential type allowing verified clients—such as banking cores and fintech partners—to securely access APIs. Integration Manager simplifies the traditionally complex mTLS setup into three straightforward steps:
Generate an mTLS credential using Private Key JWT.
Create an access token from the mTLS credential through PortX Authorization Server requests.
Automatically validate tokens and certificates through the API gateway, with enforced access controls.
The benefits to our customers include simplified security with no extra certificate purchases or advanced configurations required. The traditional OAuth credential option remains available for services that don’t need mTLS.
Learn more in our blog: Automated mTLS Management is Generally Available for Integration Manager-Hosted APIs.
What’s New in the Blog?
Watch for our latest blog posts, where we share our thoughts on industry trends, insights, and best practices. Here are a few of our latest posts that you may be interested in:
PortX Joins the OpenID Foundation and Achieves Financial-Grade API (FAPI) Certification
Despite political and legal uncertainty surrounding CFPB 1033, financial institutions should proactively align with Financial Data Exchange (FDX) standards to ensure regulatory compliance and leverage open banking to build account holder trust and confidence. PortX’s recent FAPI certification from the OpenID Foundation further supports FIs with secure, scalable, and future-proof compliance solutions.
The True Cost of API Modernization—And Why Innovative Banks and Credit Unions Pay It
Not all APIs are created equal—and choosing the right path can mean innovation or costly setbacks. Banks and credit unions face critical decisions about API modernization investments. Discover the hidden costs, strategic advantages, and why industry leaders willingly pay the price to transform their financial institutions into innovation powerhouses.
AI is Rewriting the Rules of Integration: Banks and Credit Unions Need a New Game Plan
AI isn’t just changing integration—it’s redefining it entirely. Banks and credit unions must embrace an AI-first mindset, moving beyond traditional integration methods. Discover why legacy approaches won’t suffice in the AI era, and learn how forward-thinking institutions are transforming complexity into strategic innovation, efficiency, and competitive advantage.
Find Us at These Upcoming Events:
Jack Henry Connect 2025
San Diego, CA / September 8-11
Prominent Premier Partners
Omaha, NE / September 16-18
Fiserv Forum Client Conference
Las Vegas, NV / September 28-30
Help Share PortX Fintech News
Don’t keep us a secret! PortX is removing the barriers that impede innovation in financial services. We build infrastructure that delivers open access to data, simplified application connectivity, and accelerated adoption of new technologies and networks.
Share this email with friends.
Sign up for the Newsletter here.
Follow us on LinkedIn
Please send feedback to hello@portx.io
PortX Fintech News
In this edition of PortX Fintech News, we’re excited to announce PortX’s $16.5M Series B, our perspective on how banks can succeed in both the short and long term during an economic downturn, what’s new for the PortX Platform, and two new partner announcements – Prelim and Abrigo.
Have feedback? Email us at hello@portx.io.
PortX Secures $16.5 Million in Series B Funding With Investors Focused on Community Financial Institutions
We are thrilled to share that we’ve successfully completed our Series B funding round, raising a significant $16.5 million! This milestone reaffirms our dedication and role as innovators in the open banking landscape for community financial institutions.
Funding underscores shift toward open banking and the demand for seamless core integration and innovation
Investors represent 200 community financial institutions
PortX forms Credit Union Service Organization (CUSO)
Our collaboration with FUSE has been a driving force, and as Brendan Wales, Founding Partner at FUSE, shared, “We at FUSE see PortX as a game-changer in the open banking ecosystem. Their vision and technology align perfectly with the industry’s evolving needs. This is our second investment in the company, and it’s not just a vote of confidence in PortX, but a bet on the transformative power of open banking in shaping the future of commerce and financial services. And it’s exciting to partner alongside other visionary investors who are equally committed to innovating and improving financial services for FIs.”
Learn more about the benefits we’re bringing to our customers as a result of this funding by reading the full announcement and this blog from CEO, David Wexler.
A case for innovation over hesitation in an economic slowdown
There’s a notable shift taking place among FIs, with many banks and credit unions choosing to put their projects on hold as a result of the economic slowdown. It’s a natural reaction, especially considering the shocking banking crisis from earlier this year.
According to a recent report from Reuters, U.S. lenders, in light of the current economic scenario, are stockpiling cash as a safety net against a slowing economy, potential deposit outflows, and forthcoming stringent liquidity regulations that may particularly affect mid-sized banks. This defensive stance is a reflection of experiences from earlier in the year, prompting many in the industry to be prepared. “What happened in March was a big wake-up call,” notes David Fanger, Senior Vice President at Moody’s rating agency. By the end of August, U.S. banks’ cash assets had grown to $3.26 trillion, marking an increase of 5.4% from the end of 2022.
However, while hoarding cash might seem like a safe strategy, the lessons from 2008 emphasize the importance of innovation and adaptability.
Adoption of Digital Platforms: After the 2008 crisis, there was a notable shift towards digital banking. By the time the industry recovered, customers had become accustomed to the convenience of digital banking, making it difficult for late adopters to catch up.
Fintech Collaborations: Traditional FIs that embraced collaborations or partnerships with these fintechs, or even those that built in-house innovative solutions, gained a competitive advantage in delivering better customer experiences and more efficient operations.
Diversification of Services: Some of the best-performing banks during and after the 2008 crisis were those that diversified their services, often enabled by technological innovations.
Resilience to Future Shocks: The FIs that innovated during the 2008 crisis were also better prepared for future shocks, such as the COVID-19 pandemic. Their prior investments in digital platforms and infrastructure allowed them to quickly adapt to the new norm of remote banking and service delivery.
FIs that merely stockpile resources without strategically investing in technology and innovation risk being left behind when the economy turns around. It’s a delicate balance of preparing for the immediate future while ensuring long-term growth and competitiveness. The current economic slowdown is not just a challenge but an opportunity for FIs to introspect, innovate, and come out stronger.
If you would like to learn more about how we are helping our customers navigate this balance, start a conversation today.
Product update: Integration Manager’s latest enhancements
With the release of Integration Manager 2.0 and subsequent enhancements, we’ve focused on making your API development and management journey more efficient and user-friendly. Discover the new features and get a glimpse of what’s around the corner.
Newest updates
Unified Management Console: Centralizes API lifecycle management for improved efficiency.
Payment Manager Integration: Seamlessly included in the management console for streamlined payment handling.
Direct Third-Party Vendor Integration: A singular, adaptable access point for account management, enabling the direct incorporation of third-party partners into the console.
Unified Observability Portal: Pinpoints system failures and empowers you to inform vendors of specific issues while also providing insights for proactive resource management and enabling real-time alerts.
No-Code API Development: This versatile, no-code tool simplifies complex integration tasks and is easy to use for both developers and IT administrators, empowering your whole team.
Identity and Access Management: Enhances operational efficiency and security by providing precise, granular control over vendor access and data management.
API Catalog: A visual tool that simplifies the discovery and reuse of APIs to avoid work duplication.
Data Transformation Playground: Simplified data mapping interface with DataSonnet built right in.
Revamped API Docs: A standardized, well-documented portal using PortX templates, allowing you to securely share APIs and access keys with partners.
What’s on our roadmap?
We’re currently developing several exciting enhancements to elevate your user experience further. You can look forward to expanded observability dashboards for deeper insights, smoother integration between development and management workflows with visual tools such as advanced data mappers, and an enriched API catalog offering a more comprehensive range.
Read our blog for a detailed update about the new features in the PortX platform and a sneak peek at what’s next.
Announcements: PortX secures SOC 2 Type 2 and new partners Prelim & Abrigo
SOC 2 Type 2
PortX has achieved the SOC 2 Type 2 certification, reflecting our commitment to rigorous security and operational standards. This certification not only underscores the robust security infrastructure we’ve designed for our products and internal procedures but also aids our customers in meeting compliance standards and streamlining their auditing processes.
Read our blog to learn about the details of SOC 2 Type 2 and its benefits to our customers.
Prelim
Prelim, a premier Silicon Valley fintech, specializes in digital onboarding for various deposit accounts and offers a no-code platform built by banking experts to streamline and enhance the customer and employee journey through automation. Their solutions, which encompass everything from identity verification to core services issuance, significantly improve the banking experience.
“Joining the PortX fintech ecosystem and integrating with its Open Banking API will allow us to continue to provide best-in-class access to providers within the platform,” said Heang Chan, the CEO of Prelim. “Prelim supports over 100 financial products; thus, working with PortX enables us to offer our customers an even more seamless digital banking experience that is integrated with their cores.”
Learn more about our partnership with Prelim by reading the full announcement.
Abrigo
Abrigo, a top provider of solutions in credit risk, lending, and asset/liability management, empowers financial institutions with an expansive platform that enhances growth, efficiency, and customer experience. Boasting a network of over 2,400 financial institutions, they deliver unparalleled advisory expertise, innovative technology, and award-winning client service.
“By leveraging this software, financial institutions can provide their customers with the funds they need faster while ensuring they have controls in place for proper data management,” said Nolan Gesher, Senior Vice President of Sales Enablement at Abrigo. “We are very pleased to partner with PortX to advance our mission to help communities thrive.”
Learn more about our partnership with Abrigo by reading the full announcement.
What’s New in the Blog?
Watch for our latest blog posts, where we share our thoughts on industry trends, insights, and best practices. Here are a few of our latest posts that you may be interested in:
Modernizing ACH: How Financial Institutions Gain Efficiency, Control, and Flexibility Over a Legacy Payment System
Automated Clearing House (ACH) transactions, managed by FIs through core vendors or manual entry, face challenges like outdated interfaces, lack of control, and potential for errors, prompting a need for modern, flexible solutions like PortX’s automated ACH system, which offers increased efficiency, control, and integration.
AI and ChatGPT Accelerate Banking Integration and Fintech Deployment
Artificial Intelligence, particularly Large Language Models, offers financial institutions an AI-first integration approach for faster product launches, operational efficiencies, and dynamic error correction, with PortX providing expertise in AI agent training, governance, and API development to facilitate seamless integration.
ChatGPT Use Cases for Banking: An AI-First Approach to Financial Services
This blog explores how financial institutions are leveraging AI and advanced language models like ChatGPT to drive transformation, detailing its workings, use cases, and PortX’s pioneering efforts in integrating it into the financial sector.
Help share PortX Fintech News
Don’t keep us a secret! PortX is removing the barriers that impede innovation in financial services. We build infrastructure that delivers open access to data, simplified application connectivity, and accelerated adoption of new technologies and networks.
Share this email with friends.
Sign up for the Newsletter here.
Follow us on LinkedIn
Please send feedback to hello@portx.io
PortX Fintech News
In this edition of PortX Fintech News, we’re excited to share the release of Integration Manager 2.0 – our digital core banking integration software for financial institutions – and two new fintech partnerships with MeridianLink and Identifee. Additionally, a recent report by Jack Henry highlights significant trends in the financial industry that your institution cannot afford to ignore.
Have feedback? Email us at hello@portx.io.
PortX Announces Integration Manager 2.0
We’re thrilled to announce the launch of Integration Manager 2.0 – an advanced tool built to streamline your business operations by facilitating efficient integration between the core and your FI’s software systems. With this technology, your organization can unify and harness data from multiple sources, ensuring seamless communication between various platforms and enabling your customer 360.
Integration Manager 2.0 offers a collection of new and enhanced features, including:
Powerful innovations: self-service deployment, unified observability tools, and advanced security features for optimal control.
Revamped infrastructure: streamlined application deployment and elevated debugging capabilities for rapid issue resolution.
Enhanced user experience: seamless identity and access management, efficient API versioning, and improved data privacy tools.
If you would like to learn more about the next generation of digital core banking integration and payment management with Integration Manager 2.0 and Payment Manager, read the full product release announcement on the PortX News page.
Key Insights from Jack Henry’s Recent Financial Study
Jack Henry released its fifth-annual survey, revealing major trends in the strategic plans of banks and credit unions. One of the most compelling findings is the increased focus on fintech integration:
A staggering 90% of financial institutions plan to embed fintech into their digital banking experiences, signifying the sector’s evolution towards a more tech-driven approach. This integration aims to improve service delivery and meet customers’ increasing expectations for seamless digital transactions.
In line with this, 65% of these institutions are planning to incorporate payment fintechs specifically, reflecting the industry’s effort to enhance and streamline payment processes.
If you want to learn more, you can freely download and read the report from Jack Henry.
New partnerships: MeridianLink & Identifee
We’re pleased to announce two new partnerships with MeridianLink – a leading provider of modern software platforms for financial institutions and consumer reporting agencies – and Identifee – a pioneering vertical SaaS provider for banks and credit unions.
MeridianLink
MeridianLink’s cloud-based solutions enable customers to build deeper relationships with consumers through data-driven, personalized experiences across the entire lending life cycle. Its scalable platforms help customers accelerate revenue growth, reduce risk, and exceed consumer expectations through seamless digital experiences.
“We are excited to partner with PortX and leverage their platform to bring our digital lending solutions to more FIs,” said Megan Pulliam, SVP of MeridianLink’s Partner Marketplace. “By combining our advanced lending capabilities with PortX’s integration technology, we can provide FIs with a powerful suite of tools that unleash rapid project creation, accelerate speed-to-market, and ultimately drive digital transformation.”
Learn more about our partnership with MeridianLink by reading the full announcement.
Identifee
Identifee’s all-in-one platform empowers FIs to drive deposits and revenue. Combining peer benchmarking, targeted prospecting, and on-demand micro-videos for FIs and their customers, Identifee offers a turnkey solution that empowers FI customer-facing teams to be more strategic and efficient.
“By leveraging PortX’s seamless connection capabilities, Identifee can effortlessly integrate with an FI’s existing systems, providing them with our turnkey solution,” said Vigen Ismailyan, CEO of Identifee. “Our partnership will enhance customer engagements, save time for FIs, and drive significant revenue growth.”
Learn more about our partnership with Idenifee by reading the full announcement.
What’s New in the Blog?
Watch for our latest blog posts, where we share our thoughts on industry trends, insights, and best practices. Here are a couple of our latest posts that you may be interested in:
Every Financial Institution Needs This Indispensable Role – 5 Super Powers of the Product Manager
Unlocking AI’s Potential in Banking: Mitigating Security, Compliance, and Reputational Risks for Financial Institutions
Find us at these upcoming events:
fintech_devcon (MOOV) – Austin, TX / August 23-25
P3 (Prominent Premier Partners) 2023 Fall Conference – Omaha, NE / September 5-8
Help share PortX Fintech News
Don’t keep us a secret! PortX is removing the barriers that impede innovation in financial services. We build infrastructure that delivers open access to data, simplified application connectivity, and accelerated adoption of new technologies and networks.
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PortX Fintech News
Welcome to the inaugural edition of PortX’s Fintech News. This newsletter will share a handful of the most exciting developments in fintech and financial services, real-life stories from some of our most successful customers, upcoming webinars and events, and more.
Have feedback? Email us at hello@portxiodev.wpenginepowered.com.
PortX Closes Series A Funding Round
For years, ModusBox operated complementary yet independent sides of its business: Supporting Mojaloop to develop, deploy, and operate an open source, real-time payment network (ModusBox) and delivering a world-class iPaaS for the financial services industry (PortX). Inevitably, a corporate reorganization was necessary to maximize the potential for each side of the business and magnify the value the two companies offer their respective customers. In September 2022, we announced PortX’s spinoff from ModusBox and the close of our $17.5M Series A funding round.
“We were thrilled to double down on our investment and partnership with PortX. Just in the last four months, we’ve observed firsthand the benefits that PortX’s seamless integration platform provides to our network of banks,” said Carey Ransom, Managing Director at BankTech Ventures. “We are excited for the increased focus that the new PortX entity will have on the community banking world and working with the team to open new, innovative opportunities and fintech connections for our banks.”
PortX CEO, David Wexler, shared the details in his public announcement and noted these primary benefits to the two companies and their customers:
PortX spinoff creates two groundbreaking companies better able to serve their target markets and stakeholders.
Fuse and BankTech Ventures invest $10M in PortX to accelerate next-gen connections between community financial institutions and fintechs.
ModusBox focuses on developing and supporting inclusive and interoperable international real-time payment network infrastructure.
Read David’s full announcement on our News page, which details the history of ModusBox, the motivation for spinning off PortX, and more information about our investors.
ABA Releases 2022 Banking Middleware Report
The American Bankers Association (ABA) released its 2022 Exploring Banking Middleware Solutions report covering the strategic benefits banks can realize by leveraging API-led middleware platforms in their technology stack. The report provides more details about three key advantages:
Reducing reliance on a legacy core to deliver products faster and make future conversions easier
Building a single source of truth for customer data leads to better customer experience
Fostering partnerships with fintech companies
In addition, the report provides information on the present state of middleware providers (find us on pages 13 and 14). It presents a set of factors for banks to assess their internal preparedness and external partner selection to determine their suitability for middleware implementation.
The ABA supports its stance with results from its 2022 Core Platform Survey, in which the organization surveyed bankers and core providers on the importance and effectiveness of 17 bank success-related attributes. For the first time, the survey included respondents from core providers which provided astounding insights into the lack of alignment between banks and their cores.
“Of banks surveyed, 42% say they’re dissatisfied with their core provider, and 21% indicate they are unlikely to remain with their core when the contract expires.”
If you want to learn more, you can freely download and read the report from the links below:
2022 Exploring Banking Middleware Solutions: https://www.aba.com/news-research/research-analysis/exploring-banking-middleware-solutions
2022 Core Platform Survey: https://www.aba.com/news-research/research-analysis/2022-core-platforms-survey
What’s New in the Blog?
Watch for our latest blog posts, where we share our thoughts on industry trends, insights, and best practices. Here are a couple of our latest posts that you may be interested in:
Six Banking Integration Lessons Learned One Month After SVB Collapse
Open Banking API: Building a Universal Data Model for Fintech Integration to the Core
Is Your Financial Institution Paying Twice to Access the Data It Already Owns?
Community FIs Need to Go Beyond Banking Core Integration to “CICaaS”
Find us at these upcoming events:
California Bankers Association Annual Conference – Maui, Hawaii / May 6-9
Experience FinXTech by Bank Director – Tampa, Florida / May 9-10
ThinkBIG Conference by Abrigo – Miami, Florida / May 8-11
MeridianLink Live! User Forum – Anaheim, CA / May 8-11
What to expect in future issues
We will continue to bring valuable insights and updates regarding the latest fintech and financial services industry trends. We’ll share upcoming webinars you won’t want to miss, covering a wide range of topics from digital transformation to customer experience to banking integration best practices. We will also highlight some of our recent customer successes and the innovative ways they are leveraging technology to meet the evolving needs of their clients.
Help share PortX Fintech News
Don’t keep us a secret! PortX is removing the barriers that impede innovation in financial services. We build infrastructure that delivers open access to data, simplified application connectivity, and accelerated adoption of new technologies and networks.
Share this email with friends.
Follow us on LinkedIn
Please send feedback to hello@portxiodev.wpenginepowered.com
