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First Fidelity Bank launches digital wealth management services with Unifimoney

By Edlyn Cardoza

December 09, 2022

  • Alternative Investments
  • Asset Community Bank
  • Banno Digital Toolkit
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First Fidelity Bank, Asset Community Bank, Digital Wealth Management Solution, Unifimoney, Multi Asset Digital Investing Platform, Robo Advisory, Digital Assets, Jack Henry, Alternative Investments, Banno Digital Toolkit, Financial Institutions, Oklahoma City, USAFirst Fidelity Bank (FFB), a $2.6 billion-asset community bank headquartered in Oklahoma City, announced the launch of a comprehensive digital wealth management solution with Unifimoney, a multi-asset digital investing platform.

“Our customers have a diverse set of money-management and investing needs, from their first job through to retirement,” said John Symcox, Chief Innovation Officer at First Fidelity Bank. “Offering a bundled banking and investing solution creates a compelling way to help people actively engage in their long term wealth management journey, however they choose to invest. We selected Unifimoney as our strategic partner after meeting them through the ICBA ThinkTECH Accelerator program, to help deliver on this vision.”

Unifimoney’s platform is a turnkey digital wealth management solution incorporating Robo-advisory and commission-free trading of thousands of stocks, ETFs, digital assets, and precious metals.

“Community banks have a unique and critical role to play in helping people achieve financial resilience through responsible, self-directed investing,” Unifimoney’s CEO Ben Soppitt said. “Their ability to bring better, more compelling products and services to their customers, by combining banking and investing together is a powerful example of that.”

FFB customers can access and sign up for Unifimoney via the bank’s existing digital banking app with Jack Henry and invest in both traditional and alternative investments. Because the Unifimoney solution is already fully integrated within Jack Henry’s digital banking platform through the Banno Digital Toolkit, this enabled FFB to go live with the solution quickly and without further technical integration.

“First Fidelity Bank is leveraging our modern, open digital platform, which integrates with innovative fintechs such as Unifimoney, to build comprehensive and differentiated digital experiences that allow them to become the center of consumers’ financial lives,” said Julie Morlan, senior managing director of digital solutions for Jack Henry. “We’re committed to empowering financial institutions with services that improve the long-term financial health of customers and protect their wealth from further disintermediation.”

Digital assets execution and custody services are provided through Gemini Trust Co. LLC, a leading US-based crypto exchange licensed and headquartered in New York and authorised by the New York State Department of Financial Services to engage in virtual currency business activity. Brokerage accounts and services are offered through Apex Clearing Corporation (Apex), a subsidiary of Apex Fintech Solutions. Apex is registered with the SEC, a member of FINRA, and a participant in SIPC.

“The ability to innovate and evolve is critically important for community banks and was the genesis behind the creation of our Accelerator program,” ICBA’s Executive Vice President and Chief Innovation Officer Charles Potts said. “We’re pleased to see these collaborations take root and deliver value-add for community banks through the rollout of important services like digital wealth management for consumers.”

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