Finastra has announced that Bank Midwest, an employee-owned bank with locations throughout Iowa, Minnesota and South Dakota, has launched, 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, utilising its Phoenix core solution and Digital Banking to go to market quickly and efficiently.

Bryan Wilken, Chief Information Operations Officer at Bank Midwest, said: “When we made the decision to launch, we turned to our partners at Finastra, leveraging their agile solutions and partner ecosystem to build a digital bank specifically tailored to healthcare professionals. We offer a personalised, 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.

These solutions enable Bank Midwest to deliver focused financial experience across the United States

Scott Stewart, President of OnePlace Capital, added: “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.”

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.

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As its customer needs evolve, Finastra’s solutions, powered by open APIs, the cloud, and microservices, provide with the agility needed to continue to address these emerging needs, empowering the bank to efficiently expand its digital footprint over time.