Expansion and development of new fintech tools for CUs. (Source: Shutterstock)
A new program unveiled might hold the key to assisting credit unions and its members when it comes to the development and negotiation of service provider relationships.
The Raleigh, N.C.-based Constellation Digital Partners, which provides an open platform enabling credit unions and fintech developers to work together, announced its new program, Dark Sky Ventures. The program enables Constellation's partner credit unions to collaborate on the development and negotiation of service provider relationships. It will encompass joint requirements gathering, assessment of build-versus-buy opportunities, custom development initiatives and the negotiation of group-buying deals to include investment opportunities. Credit union participants will equally fund Dark Sky Ventures and have access to any opportunities that emerge from the collective efforts.
"Credit unions have more power together than they do individually. We're setting the stage for credit unions to accelerate their adoption of new competitive technologies for their members," Constellation's Manager, Strategic Partnership, Dawn Sirras said. "Dark Sky is also greatly beneficial and efficient for our fintech partners as they will now have a single point of contact to move multiple projects forward."
"Dark Sky is a demonstration of Constellation's endless possibilities," Constellation CEO and Founder Kris Kovacs said. "We continually evolve our ecosystem to address issues that inhibit credit union delivery of innovative digital solutions. One of our goals with Dark Sky is to bridge the opportunity gap that exists between fintechs and credit unions. This will enable them to work together, while advancing the content available in the Constellation Platform, and expanding digital service offerings to members. Dark Sky helps us continue to move credit unions forward competitively."
Also, Finastra, with U.S. headquarters in Lake Mary, Fla., announced the launch of four new retail banking apps on FusionStore, the firm's app marketplace. Built during Finastra's first "appathon" in North America at the tail end of last year, the apps, which provide saving, spending control and personal finance management services, use open APIs, accessible via the FusionFabric.cloud development platform.
One of the new apps is Flybits, a contextual customer engagement platform for banking, delivering personalization at scale, enables financial institutions to unlock their data, coupled with context, at the most critical moments in a customer's lifecycle. Deborah Beatty, vice president of Partnerships at Flybits, said, "Using FusionFabric.cloud's pre-integrated developer tools and API catalogue, we will be able to easily deploy our solution with Finastra clients."
Other new apps include Predictive Engagement Platform from KapitalWise, which uses artificial intelligence to predict over 60 personal, financial and credit events to drive one-on-one customer engagement. There's also Honeyfi, a personal finance app that helps couples manage their money and FinGoal app, an AI-powered financial insight service, which finds money and grows deposits.
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