MIAMI, October 8, 2021 – JIC Bank chooses Cyberbank from Technisys, the cloud-native, next-gen digital and core banking platform to deliver differentiated, and tailored, financial products to consumers and small/medium businesses, at point of need.
JIC Bank is poised to embrace digital innovation with Cyberbank, the white label, next-gen core banking platform from Technisys to create and deliver personalized financial products, dynamically, to meet ever-changing customer needs.
“We evaluated other next-gen core platforms, but chose Technisys for its proven core architecture, deep expertise regarding compliance requirements, and extensive functional coverage for our client base,” said Joseph Tempelberg, CFO of JIC. “This partnership gives us the agility and freedom we want to create novel financial products that are tailored to the specific needs of each and every customer on any device.”
JIC Bank recognizes that the Cyberbank core banking platform is designed to support the concierge banking needs of individuals and medium/large business customers at every stage of their financial journey. Traditionally, banks require customers to access various applications, each with different credentials, for their personal and business needs. With Technisys, JIC eliminates these siloed and disjointed customer experiences.
“We needed the ability to deliver a frictionless and user-friendly experience by offering tailored products and services in real time – with low-to-no-code ease,” said Atabey Perez-Castro, General Manager of JIC Bank. “Technisys can deliver this.”
JIC Bank’s initial roll-out plans include digital wallet capabilities, and cutting-edge technology for its consumer and commercial deposit account holders.
“We are excited to partner with JIC bank to make their strategic vision a reality,” said Ian Cunningham, COO of Technisys, North America. “With our API-centric architecture, the Cyberbank Core banking platform will enable the bank to be up and running in as little as six months.”
Is SoFi’s Galileo the Future of Embedded Finance?
The embedded finance sector is experiencing unprecedented growth, projected to continue growing at a compound annual growth rate (CAGR) of 16.8% through 2029. Leading the charge is Galileo, the B2B financial services arm of SoFi Technologies.
Debit Rewards Surge as Consumers Shift Spending Preferences
Debit rewards programs, which were significantly reduced by as much as 50% immediately after the Durbin Amendment capped fees on debit card payments, are now seeing new life. This comeback is fueled by the continued rise of debit as a preferred spending method.
Galileo Transforms SoFi Into the Backbone of Embedded Finance
Galileo, the B2B financial services arm of SoFi Technologies, Inc. SOFI, is emerging as a key engine of growth in the rapidly expanding embedded finance market. By offering seamless payment and lending integrations, Galileo enables financial and non-financial firms to embed banking capabilities directly into their platforms.
Virtual Cards Are Gaining Ground. Here’s What Banks Must Do Next
This shift highlights growing comfort with digital-first payments. But while usage is climbing, many banks and financial institutions still struggle to explain why virtual cards matter and how consumers can benefit from them.
One-Tap Payment Switch Gives Banks the Edge in Account Primacy
Prashant Shah, VP of product management at Galileo Financial Technologies, challenged the PYMNTS audience to remember a recent bill paying experience where updating a subscription meant having to chase down Netflix or Amazon — even the local power company — to log into each individual site to update payment details.
