PHOENIX, Nov. 19, 2020 /PRNewswire/ — BrightFi, the Banking as a Service (BaaS) company that saves banks time and money while increasing profitability, has announced it is now able to provide banks and credit unions with Bank On account templates that are fast, easy and affordable to implement.
Bank On, the coalition started by the Cities for Financial Empowerment Fund (CFE), provides national account standards to banks and banking technology providers with the goal of ensuring everyone has access to safe, affordable financial products and services. BrightFi Services’ goal of enabling banks of all sizes to stay profitable, reach more of their communities and provide banking for everyone aligns closely with the Bank On and CFE commitments.
“We’re pleased that next-gen core providers like BrightFi are helping financial institutions deliver Bank On template-based accounts,” said David Rothstein, principal at the Cities for Financial Empowerment Fund who runs the national Bank On program. “Our goal is to see everyone with access to a safe, affordable transactional banking account. Expanding the ability of financial institutions of all sizes to deploy Bank On modeled solutions helps that goal further become a reality.”
In signing on to the Bank On National Account Standards, BrightFi Services can provide Bank On certified account templates to banks and credit unions across the United States. Through BrightFi Services, financial institutions can now implement Bank On account products in just weeks, at a low cost, without changing their existing core provider.
“We are thrilled to bring BrightFi Services’ quick deployment, low cost and rapid implementation to Bank On templates and account products,” said Michael Coghlan, CEO of BrightFi. “Expanding access to banking is essential for healthy communities and we proudly stand behind that commitment with this offering of a Bank On banking core.”
About BrightFi:
BrightFi, a subsidiary of Verdigris Holdings Inc., delivers a cloud-based technology and operations BaaS platform that lets financial institutions configure, test and deploy new products or digital brands at a fraction of the time and cost. By integrating optimized back-office workflows into their technology platform, BrightFi Services significantly reduces the cost to serve a bank’s customers. The Company is accelerating its platform offering to credit unions and community banks in response to the COVID-19 pandemic. For more information, visit: www.brightfiservices.com
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