PortX, the financial infrastructure and integration technology company that delivers open access to data and rapid innovation for financial institutions (FIs) through its Integration-Platform-as-a-Service (IPaaS), announced today a new partnership with Prelim, a fintech providing digital onboarding solutions for consumer deposit accounts, business deposit accounts, and treasury services. This alliance will leverage PortX's Open Banking API to standardize and streamline connectivity to more FI customers.

Prelim's open banking technology is the digital layer between the bank and its customers, and empowers financial institutions to digitize their services, enhance efficiency, and deliver exceptional customer experiences. With its white-labeled, no-code platform, Prelim has established itself as the industry leader, boasting the most turnkey app store integrations for use cases such as fraud detection, income/asset verification, eSignature, and KYC/KYB verifications.

PortX’s Open Banking API offers a universal API definition that FIs and fintechs can utilize to implement familiar FI use cases such as online banking, digital banking, account opening, loans, and more. Part of its robust IPaaS, this solution supports most common core vendors and aims to simplify and accelerate the integration between an FI’s core and its fintech partners.

Through this strategic alliance, Prelim embraces the opportunity to extend its market presence and solidify its position as the go-to provider of digital onboarding solutions. By harnessing PortX's extensive fintech ecosystem, Prelim will continue to deliver unparalleled value to an expanding customer base, reshaping the digital landscape of financial institutions.

Heang Chan, the CEO of Prelim, expressed his excitement about the partnership: "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."

“There’s a broad change happening in the financial services market; banks and credit unions increasingly need access to cutting-edge fintechs like Prelim,” said David Wexler, CEO of PortX. “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.”

This strategic partnership between Prelim and PortX marks an important milestone in the advancement of digital onboarding solutions and financial infrastructure. Together, they are poised to drive innovation, enhance efficiency, and revolutionize the customer experience for financial institutions.

ABOUT PORTX

PortX is an integration technology company focused on financial services infrastructure that delivers open access to core data and enables rapid project delivery, innovation, and optimal customer experiences. Our solutions facilitate interoperability between internal systems and member services such as online banking, credit checks, mortgage and loan applications, and more, allowing for a real-time 360-degree view of the customer. We help financial institutions empower their teams to connect to fintech partners and real-time payment networks like Zelle®, ACH, Fedwire, Mojaloop, and others. For more information, please visit www.portx.io.

ABOUT PRELIM

Prelim is a leading Silicon Valley fintech company providing digital onboarding solutions for consumer deposit accounts, business deposit accounts, and treasury services. Prelim solutions empower banks, credit unions, and other financial institutions to digitize the customer journey from onboarding to servicing, improving the employee journey by automating internal operations such as reviewing, processing, underwriting, and servicing. Built by banking experts, Prelim's no-code, white-labeled platform delivers a better customer experience through process automation for identity verification, issuing services from the core, and so much more. For more information, please visit www.prelim.com.

View source version on businesswire.com: https://www.businesswire.com/news/home/20230727454444/en/