WASHINGTON — The American Bankers Association is investing in PortX, an AI-powered data integration platform built for community banks and credit unions that addresses the growing need for digital transformation in the financial services sector, the ABA announced.
ABA said PortX aligns with the banking industry’s digital push by helping institutions modernize operations and deliver better customer experiences. Its scalable platform reduces reliance on legacy systems, accelerates innovation and supports partnerships with fintechs.
“To stay competitive, banks must embrace faster, more flexible ways to deliver products and services,” said ABA President and CEO Rob Nichols. “Fintech partnerships with companies like PortX are essential to driving innovation in banking, and our investment will get this technology in the hands of banks even sooner.”
“In this new era of financial services, bank customers expect fast, personalized and smooth digital experiences. To meet this expectation, banks need better tools to offer the latest technology, but many banks still rely on legacy systems that aren’t flexible or modern enough to meet these needs. Middleware technology like that offered by PortX helps solve this problem by connecting older systems with new digital tools, making it easier for banks to improve services and work more efficiently,” ABA said.
ABA added that PortX differentiates itself by focusing specifically on the financial services industry, offering tailored solutions for its needs.
Recently, Allied Solutions announced its investment in PortX.