Former ACI Worldwide Banking Unit debuts as FinTech Dragonfly
Digital banking and financial management FinTech company Dragonfly Financial Technologies has launched as an independent company following the completion of private equity firm One Equity Partners’ acquisition of payment software provider ACI Worldwide’s online banking unit.
With its new autonomy and resources, Dragonfly will add innovations to its product portfolio, expand its team and target more U.S. and international commercial banking clients — in addition to the more than 40 banking and finance clients worldwide it already serves — according to a Thursday ( 1 September) press release.
“Customers recognize that our products deliver a tremendous level of innovation and value to their business through our features, user experience and hundreds of API integrations – and now we have the independence, focus and investment to accelerate our product roadmap and strengthen our overall customer success experience, ” said Dragonfly CEO Johan Roets in the release.
One Equity Partners agreed to acquire ACI Worldwide’s corporate online banking unit, which had been known as Digital Business Banking Solutions, in June, noting that the API-driven solution for banking firms allows blue chip banks to process “over $1 billion in daily payments.”
Read more: ACI Worldwide sells ACI Digital Business Banking Solutions to One Equity Partners
As PYMNTS reported at the time, the acquisition comes as the US online commercial banking sector sees more demand for API-driven automated digital banking and treasury management solutions, with more banks adopting cloud-based IT ecosystems to increase functionality, minimize costs, leverage API-based integration and ensure more interoperability between suppliers.
With the September 1 launch of Dragonfly as an independent company, it said in the press release that it would invest in improving its cloud-based digital business banking platform.
“Across cultures, dragonflies are revered for their agility, excellent vision and as symbols of strength, transformation and prosperity,” Roets said in the release, “so it’s a fitting name for our company, as we combine passion, ingenuity and drive. of one [startup] with the large customer base and resources of an established growth company.”
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