Valley National Bank launched a digital platform with fintech companies to help regional and community banks. Learn how this relationship can improve banking services.
Through a new cooperation, Valley National Bank gives life to its new innovation platform so that regional and community banks can better access and utilize digital benefits.
Valley National Bank, a principal subsidiary of Valley National Bancorp with headquarters in New Jersey, is launching a new innovation platform with the goal of accelerating and enhancing its collaboration with fintech companies to meet the needs of Valley’s customers in a rapidly evolving digital environment. This is done in recognition of the growing necessity to service customers with access to the best digital banking tools.
Growing consumer demand for financial goods and services is turning into a well-established industry trend. Customers increasingly anticipate a large variety of product options as a given, driven by the quick-moving improvements in technology.
This has caused the cost of inaction among financial institutions to rise dramatically, and the violating party will suffer significant reputational harm as a result.
Understanding this context, Valley’s recently unveiled innovation platform is made to accept technological change, enable the company to keep transforming its business processes, and create best-in-class client experiences through collaborations with fintech firms.
The UK-based fintech NayaOne, the biggest integrated fintech marketplace in the UK and Europe, provides the technology that powers the innovation platform. Its platform gives financial institutions a single point of access to the most recent fintech developments and data, helping them to stay ahead of the competition in a quickly evolving digital market.
The NayaOne platform is moreover already integrated with the goods and services of hundreds of fintech firms thanks to an easy and clear onboarding procedure. In April of last year, the platform celebrated hitting the landmark of 100 fintechs on its platform.
Additionally, NayaOne offers a set of tools for developing and using synthetic data, enabling Valley and its fintech partners to quickly test-drive novel solutions in a controlled, organized environment.
Valley National Bank, a regional bank with assets of around $57 billion, has launched a new platform aimed at showing how community banks can partner with fintech companies to meet customer needs. Stuart Cook, the bank’s chief innovation officer, stated that the platform illustrates how banks can leverage fintech products and services to exceed customer expectations.
He also highlighted the bank’s commitment to collaborating with a network of fintech partners and implementing a more efficient design-and-test process to reduce the time-to-market for delivering new solutions. Valley National Bank operates a large network of branch offices across New Jersey, New York, Florida, and Alabama, and aims to provide customers with convenient service, cutting-edge technology, and a dedicated team focused on meeting their needs.