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February 9, 2022

Finotta strikes partnership with First United Bank & Trust

Mobile banking personalisation firm Finotta has signed a partnership with US-based $12.5bn privately held bank First United Bank & Trust.

The tie-up will see Finotta launching its Personified platform to the First United’s digital banking customers.

This platform comprises a range of products that allows financial institutions to better serve their customers directly in their mobile banking application.

It also provides a gamified financial health score to help users improve their financial life and access to a financial journey manager for personalised guidance and recommendations.

First United regional bank president Ryan Suchala said: “We are so proud of what our partners at Finotta are doing for the financial industry. This partnership with Finotta will support First United’s vision to elevate 10 million lives by the year 2030.”

Finotta CEO and founder Parker Graham said: “First United saw the new world of banking we wanted to create, and it turns out they wanted to create it with us. From day one, they have been the perfect partner, investor, and advisor.”

Following the partnership, First United also invested in Finotta’s recent $3m seed funding round.

First United CEO Greg Massey added: “At First United, our purpose is to inspire and empower others to spend life wisely. We are excited to partner with Finotta and share this great resource with our customers to help them truly be able to spend their lives wisely.”

Other developments in digital banking space

Last month, CIMB Bank Philippines teamed up with Zoloz to enhance its digital banking services.

The bank will tap ZOLOZ ’ eKYC solution RealID to streamline the customer identity verification process, remove paper-based procedures in a bid to bring down expenses and time associated with manual verification.

Last year, Belfius Bank in Belgium turned to OneSpan to secure its customers from cybercrime and mobile banking frauds.

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