Wilmington-based financial technology firm Apiture has been in the news recently for two accomplishments.
In September, the company announced it had formed a partnership with Greenlight Financial Technology Inc., which offers a family finance app.
“Through the Greenlight for Banks program, Greenlight’s family finance app is now available with Apiture’s Consumer Banking solution, providing banks and credit unions with a full suite of family banking tools to help improve financial literacy for the next generation,” Apiture officials stated in a news release.
The addition of the app aims to address what Apiture sees as a need. According to Greenlight, 93% of parents say it is important for financial institutions to provide financial literacy education for their children, yet only 16% say their current institution provides such services.
“Greenlight offers a debit card and app that teaches kids and teens how to earn, save, give, and spend wisely – all with parental supervision,” the release stated. “Using the Greenlight app, parents can send money instantly, automate allowance payments, manage chores, set flexible spending controls, get real-time notifications of all transactions and more.”
Many banks and credit unions do not have the resources to create a compelling digital banking experience for young people, according to Apiture, whose officials say that their firm is the first digital banking provider to offer the Greenlight for Banks solution, equipping Apiture’s more than 300 client financial institutions to offer Greenlight’s suite of family banking tools at no cost to their customers.
Greenlight officials see the partnership as an opportunity to broaden the reach of its products.
Also in September, Apiture was named a winner in the Great Tech Places to Work category by the NC TECH Awards. It’s also a finalist for the Fintech/Insurtech of the Year award. This recognition by the North Carolina Technology Association is “the state’s only statewide technology awards program that recognizes innovation, growth and leadership in the tech sector,” according to a news release. The NC TECH Awards program
Apiture was recognized for its “outstanding company culture and continued innovation in the digital banking industry,” the release stated, quoting NC TECH’s President and CEO Brooks Raiford as saying. “As a winner and finalist this year, Apiture has distinguished itself as one of the state’s innovative and emergent leaders.”
Founded in Wilmington in 2017 as a joint venture between Live Oak Bancshares and First Data, Apiture now has more than 150 employees in North Carolina and 360 employees nationwide.
Apiture and other award winners and finalists will be honored at the NC TECH Awards gala Nov. 1 in Raleigh.