Sandbox Banking secures $4.3 million in seed funding to streamline integration for banks and credit unions
Sandbox Banking seamlessly connects core banking, loan origination and CRM systems to fintechs via its Glyue API builder.
CAMBRIDGE, Mass., 14 February 2023 /PRNewswire/ — Sandbox Banking, the fintech building a low-code integration platform for banking, announces the completion of a strategic investment led by Horizon Ventures, bringing the company’s total funding to 6 million dollars. Participating investors include Forum Ventures, SixThirty, Tuesday Capital. Using the company’s Glyue™ platform, banks and credit unions can accelerate digital transformation by using pre-built API adapters and solution templates to securely connect existing systems with fintech partners. Sandbox Banking’s game-changing API building platform already empowers teams at over 70 financial institutions across the US and Canadaincluding Bank Newport, Silicon Valley Bank, United Bank, Choice Financial and Service Credit Union.
The Sandbox Banking team at All Hands, Park City, Utah
Sales teams at fintech partners such as nCino, FIS and Five9 praise the Glyue platform’s pre-existing adapter catalogs responsible for delivering integration and support functions across critical customer systems. Fintech partners also love how Glyue’s solution template catalog reduces implementation timelines with its self-service capability for bank employees. With deeper integrations into some of the largest global fintech companies on the roadmap for 2023, Sandbox Banking will use this capital to accelerate hiring for new product development and solution delivery capabilities.
“The infrastructure and product framework needed to integrate core banking and fintech systems has historically been plagued with complaints about incompatible systems generating long integration times, a lack of customization beyond cookie-cutter integrations, and a lack of agile support for future changes based on user behavior. Glyue makes this process seamless and more efficient than ever and will continue to drive the next generation of integrated digital banking systems that unlock fintech for society,” said Ravi Balasubramanian, CEO of Sandbox Banking. “Horizon Ventures and Tuesday are two industry leaders in finding platform solutions that transform industries, and we are thrilled to have them on board as both investors and strategic advisors.”
“With the launch of this integration using Glyue, a huge amount of work is taken off the team, which is a huge win for getting buy-in and engagement related to our overall transformation efforts,” said John Sullivan, CIO of Bank Newport. “Sandbox allows our internal technology teams at Bank Newport to focus on serving our customers’ needs, knowing they have a technology partner in Sandbox Banking.”
“Sandbox is the best banking infrastructure startup I’ve seen in years. What Stripe did for accessibility, Sandbox is poised to do with fintech integrations. They are the ‘Glyue – pun intended’ required to connect banking to fintech innovations required to compete over the next decade,” said Patrick Gallagherco-founder and managing partner at Tuesday Capital.
88% of bank and credit union CIOs complain that integration challenges are slowing their digital transformation, as until now there hasn’t been a purpose-built API platform to improve collaboration between core banking systems and the cloud-based applications that their business partners have. want to adopt. Glyue can reduce development time for common integrations by 80% and accelerate most digital banking integration projects. With an API builder platform now integrated into their existing systems, banks and credit unions can focus on driving revenue growth by offering BaaS capabilities or API Banking to indirect lending partners, or drive balance sheet efficiencies with inter-institutional solutions.
About Sandbox Banking
Sandbox Banking is a fintech building a low-code integration platform called Glyue to help banks and credit unions connect fintech products to their existing systems. Banks and credit unions increase revenue and increase operational efficiency by securely integrating fintech products with their existing infrastructure via Glyue. The company’s fintech partners close financial institution sales faster and can offer seamless integrated experiences across banking customer systems. Sandbox Banking’s investors include Horizon Ventures. Tuesday Capital, Forum Ventures, SixThirty & YCombinator.
To learn more about Glyue, visit https://sandboxbanking.com.
Contact information
Rick Medeiros
[email protected]
510-556-8517
SOURCE Sandbox Banking
