PortX, a US-based financial infrastructure and integration technology company, has forged a partnership with digital onboarding solutions provider Prelim to enhance connectivity and optimise the digital banking experience for financial institutions (FIs).
Prelim offers its solutions for consumer deposit accounts, business deposit accounts, and treasury services while PortX specialises in delivering open access to data and fast innovation through its integration-platform-as-a-service (IPaaS).
The partnership will utilise PortX’s open banking application programming interface (API) to standardise and optimise connectivity to more financial institution customers.
According to PortX, its open banking API provides a universal API definition that financial organisations and fintechs can use to deploy familiar use cases including online banking, account opening, digital banking, loans, and others.
PortX CEO David Wexler said: “There’s a broad change happening in the financial services market; banks and credit unions increasingly need access to cutting-edge fintechs like Prelim.
“We are excited to help extend the FI’s reach to support a wider number of applications and speed up the integration process. By leveraging our Open Banking API, Prelim can help more FIs build better digital banking experiences that foster stronger customer relationships and accelerate growth.”
Prelim intends to expand its market presence and bolster its position as the go-to provider of digital onboarding solutions through the collaboration with PortX.
The firm will leverage PortX‘s fintech ecosystem to offer value to its customer base.
Prelim CEO Heang Chan said: “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.
“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.”
Through the collaboration, both parties aim to power innovation, improve efficiency, and transform the customer experience for financial organisations.
