NXTsoft launches NXTsoft Marketplace, an open banking marketplace

By Pavithra R

NXTsoft, a leading API connectivity solution provider, has announced the launch of its NXTsoft Marketplace, a FinTech-focused open banking marketplace connecting vendor-agnostic FinTech vendors and financial institutions (FIs).

NXTsoft, through its open banking connectivity marketplace, is aiming to help FIs to reduce operational costs significantly and focus on generating additional non-interest income, lower human capital, and drive robust digital banking. The new marketplace is expected to reduce manual costs both from a back and front office perspective by creating more automation through connectivity among disparate systems. With a fully integrated digital banking presence and robust API connectivity, all functions that exist on a branch or call center level will now be pushed into direct digital customer experience, lowering the cost to the FIs in servicing a commercial or consumer customer.

“The NXTsoft Marketplace is YOUR marketplace, not one that belongs to a core or CRM vendor. Our doors open a broader base of connectivity that is independent of any provider. If you change cores, no problem, you will still maintain the time and investment made in your connectivity ecosystem. NXTsoft’s goal is to enable financial institutions connect to the FinTech applications they need to provide the best, seamless digital banking experience for consumers,” said NXTsoft’s chief strategy officer and division president of Omni, Rich Longo.

An added benefit of NXTsoft Marketplace is that it serves to accelerate data strategy. It can centrally aggregate data into a “data lake” that provides FIs an opportunity to monetize the data like Visa and Mastercard have been doing for years.

Founded in 2017, NXTsoft is a secure data solutions software platform. The firm builds and grows companies using management’s core strengths in sales and marketing, software development, business scaling, and capital access.