Apiture Lands M for Digital Banking
Banking and Investment

Apiture Lands $29M for Digital Banking

Digital banking platform Apiture has closed a $29 million fundraising spherical, and plans to make use of it to extend its advertising efforts, pace up product growth and meet elevated demand for the Apiture Digital Banking Platform, in response to an organization press launch.

Stay Oak Financial institution led Apiture’s funding spherical, with participation from different present traders. The most recent injection of recent capital brings Apiture’s complete raised to $69 million since its 2017 inception, the Thursday (July 14) press launch mentioned.

The Apiture Digital Banking Platform serves greater than 300 banks and credit score unions throughout the U.S.

“Our platform is constructed by bankers, for bankers, which uniquely positions Apiture to ship best-in-class options that assist monetary establishments of all sizes degree the taking part in subject with nationwide manufacturers,” mentioned Chris Babcock, CEO of Apiture.

Associated: Financial institution Earnings Present Nice Digital, Cellular Shift is Unstoppable

In different digital banking information, JPMorgan on Wednesday (July 13) reported that lively cellular prospects had been up 11% 12 months over 12 months to 47.4 million. A look at Wells Fargo’s information Friday (July 15) confirmed that cellular lively prospects on the finish of the second quarter stood at 28 million, gaining 4% 12 months over 12 months. Whole digitally lively prospects within the interval had been 33.4 million, a 2% acquire.

Citi, in the meantime, mentioned that it recorded 17 million lively cellular customers within the quarter, surging 14% from the second quarter of 2021. Energetic digital customers had been 24 million, up 8%.

Credit score and debit spending continues to be wholesome just about throughout the board. JPMorgan, as has been reported, confirmed 15% progress in debit and bank card volumes. Citi mentioned that bank card spend quantity was 18% increased, to $122 billion on its branded playing cards. Wells Fargo mentioned that bank card quantity of $30.1 billion in contrast favorably with the $23.6 billion a 12 months in the past.

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NEW PYMNTS DATA: HOW UTILITIES AND CONSUMER FINANCE COMPANIES CAN ENHANCE THE BILL PAYMENTS EXPERIENCE

Apiture Lands M for Digital Banking

About: Greater than half of utilities and shopper finance corporations have the aptitude to course of all month-to-month invoice funds digitally. The kicker? Simply 12% of them do. The Digital Funds Edge, a PYMNTS and ACI Worldwide collaboration, surveyed 207 billing and collections professionals at these corporations to be taught why going completely digital stays elusive.