New Low-Code Core Processing Platform Enables Open Banking with Seamless FinTech Integration
Team That Created and Serviced DNA Core Processing Platform is Behind Latest Advanced Core Processing Platform
BOCA RATON, Fla., Oct. 24, 2024 /PRNewswire/ -- Black Dragon Capital℠ has launched Open Banking Solutions, an advanced, cloud-based, core and digital banking solution designed to give community-based financial institutions a competitive edge in the rapidly evolving digital landscape. The emerging core banking solutions provider is on track to make its introduction and connect with prominent members of the banking and finance industry through its attendance at Money 20/20, one of the largest FinTech events happening from Oct. 27 – 30, 2024 in Las Vegas.
Black Dragon Capital℠ is a multi-phased investment firm with a long history of investing in areas where there is potential to create strong social impact and strengthen the economic stability within the communities that they serve. The firm works closely with entrepreneurs to build market leading companies, with a focus on high-potential early stage, and mid-market technology companies in growth sectors disrupted by digitization.
Both Black Dragon Capital℠ and Open Banking Solutions were founded by Louis Hernandez, Jr, an award-winning entrepreneur, successful operating executive and investor, who was Chairman and CEO of Open Solutions and was behind the creation and launch of the revolutionary DNA Platform which reshaped the industry decades ago. Mr. Hernandez and the team behind Open Banking Solutions are determined to recreate this success today with the next advanced solutions to allow community based financial institutions to compete and win.
Community-based financial institutions are facing massive hurdles because of rapid digitalization and the changing expectations of the communities they serve. However, their current options are limited to costly legacy solutions with inflexible service agreements or unproven technologies that put the institution at risk. Open Banking Solutions is here to bring powerful technology at affordable costs with flexible terms launched by proven executives from the core processing and digital banking areas.
Open Banking Solutions is a low-code solution which accelerates digital transformation, allowing banks to innovate at a faster and more cost-effective pace. This innovative solution was developed by a seasoned team and is fully prepared for open banking, with over 1,800 REST-based APIs designed to anticipate evolving regulations in the US.
It offers commercially friendly, flexible contract terms that promote collaboration and trust between vendor and customer. There is no required contract fulfillment, and customers are subject to a fixed, reasonable deconversion charge.
Black Dragon Capital℠ has consistently expressed their strong interest in helping the credit union industry by creating innovative solutions to address unique, industry-wide problems. Open Banking Solutions is one of the portfolio companies benefiting from the Black Dragon Capital FinTech Fund, which was launched last year.
"We have witnessed firsthand how technology has rapidly evolved and created new challenges for community-based financial institutions," said Louis Hernandez, Jr, Founder and CEO of Black Dragon Capital. "Digitization has undermined their key strengths in connecting to the members of their community. Open Banking Solutions was created with the intention of providing community-based financial institutions the technological boost they need to future-proof their businesses and get back into the center of their community."
The team behind Open Banking Solutions is eager to connect with members of the credit union industry through their attendance at Money 20/20.
About Black Dragon Capital
Black Dragon Capital℠ (BDC) is a multi-phased investment firm focused on advanced technologies in high growth segments that strengthen economic stability within communities. The firm was founded and led by a diverse team with a combination of intense operating experience, community impact focus, and a track record of successful investing. They work closely with entrepreneurs to build market leading companies using their proprietary Black Dragon Toolkit℠ and focus on high potential early stage, and mid-market technology companies in growth sectors disrupted by digitization.
About Open Banking Solutions
Open Banking Solutions is an advanced, cloud-based core and digital banking solution designed to give community-based financial institutions a competitive edge in the rapidly evolving landscape. Launched in the US February 2023, the platform boasts a robust cloud core processor that can streamline workflows and scale with the businesses as they grow. Open Banking Solutions is a full featured core banking platform that includes integrated state of the art digital banking, digital account opening of all product types, workflow engine, management dashboards and reporting, loan collections, G/Land Open Banking ready APIs. It can integrate with businesses through industry shattering flexible and commercially friendly contracts. This next generation full suite of solutions is built by a team of experts with over a century of experience serving community-based financial institutions.
Media Contact or Inquiries:
Stephy Wilson
Senior Marketing Manager, Black Dragon Capital
SOURCE Black Dragon Capital