Powered by Finastra's cloud-based Phoenix core and Digital Banking,
Oneplace.bank is a digital-native financial hub designed for
healthcare professionals
LAKE MARY, Fla., June 24, 2024 /PRNewswire/ -- Finastra today
announced that Bank Midwest, an employee-owned bank with
locations throughout Iowa,
Minnesota and South Dakota, has launched OnePlace.bank, a
digital bank powered by Finastra, focused exclusively on the
financial needs of the healthcare community. The move expands Bank
Midwest's collaboration with the financial software provider,
utilizing its Phoenix core
solution and Digital Banking to go to market quickly and
efficiently.
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"When we made the decision to launch OnePlace.bank, we turned to
our partners at Finastra, leveraging their agile solutions and
partner ecosystem to build a digital bank specifically tailored to
healthcare professionals," said Bryan
Wilken, Chief Information Operations Officer at Bank
Midwest. "We offer a personalized, tailored, and consistent
customer experience, and we know that our loyal customers expect
the latest products and services. With Finastra's platform,
commitment to open finance, and expertise, we can deliver on this
promise quickly and efficiently, allowing us to deliver innovative
solutions and exceed customer expectations."
Building on the bank's OnePlace Capital business line, which
offers unique equipment financing options tailored to meet the
needs of dental, medical, and veterinary practices, the digital
bank represents a natural progression for the brand. OnePlace.bank
is now the virtual home of this niche loan program, which also
offers new deposit, treasury management, and ancillary banking
services designed specifically for healthcare professionals.
"Digital transformation is at the foundation of our strategy of
improving the convenience and efficiency of our delivery, allowing
us to continue our focus on new and innovative products and
services healthcare professionals need to thrive in this
ever-changing marketplace," said Scott
Stewart, President of OnePlace Capital.
Finastra's open architecture, combined with the high level of
configurability of both Phoenix
and Digital Banking, enables financial institutions to deploy new
brands quickly and securely with significantly reduced time to
market, cost, and investment. These solutions, in conjunction with
Finastra's partner ecosystem, enable Bank Midwest to deliver its
focused financial experience across the
United States. As its customer needs evolve, Finastra's
solutions, powered by open APIs, the cloud, and microservices,
provide OnePlace.bank with the agility needed to continue to
address these emerging needs, empowering the bank to efficiently
expand its digital footprint over time.
"We are delighted to support Bank Midwest in its innovative
vision to create a digital bank that caters to the healthcare
sector. By going live with our core and digital banking solutions,
OnePlace.bank offers a seamless and personalized banking
experience, while also benefiting from the scalability, security,
and agility of the cloud," said Peter
Longo, VP Product Management at Finastra. "This is a prime
example of how open finance can help more people and businesses
access the banking services they need to prosper. Finastra's open
and collaborative solutions enable our customers to quickly create
innovative programs and brand extensions that not just meet, but
exceed the needs of the communities they serve."
In addition to Phoenix and
Digital Banking, OnePlace.bank is connecting with fintechs via
Finastra's open finance ecosystem to expand its offerings,
including conversational AI chat, texting, and calling services
from Glia and Clinc, loan and account opening solutions from
Newgen, payments from Veem, and statement and notice generation
from MPX.
About Finastra
Finastra is a global provider of financial software applications
and marketplaces, and launched
the leading open platform for innovation, FusionFabric.cloud, in
2017. It serves institutions
of all sizes, providing award-winning software solutions and
services across Lending, Payments,
Treasury & Capital Markets and Universal Banking (Retail,
Digital and Commercial Banking) for banks to support direct banking
relationships and grow through indirect channels, such as embedded
finance and Banking as a Service. Its pioneering approach and
commitment to open finance and collaboration is why it is trusted
by over 8,000 institutions, including 45 of the world's top 50
banks.
For more information, visit finastra.com
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