Veritran and Strands partner to offer personalized money management solutions

By Joy Dumasia

Strands will complement Veritran‘s solutions offering, enabling financial organizations and retail banks to quickly develop highly-personalized digital money management applications, ultimately driving increased customer engagement and generating new revenue through digital channels.

Digital banking has rapidly grown amid the COVID-19 crisis, leading financial institutions across the globe to prioritize technology-driven insights and increasingly adopt technology to deliver more straightforward, more engaging experiences for customers. Veritran’s global expertise in developing digital solutions for the financial industry through their Enterprise Low-Code Platform, which exponentially accelerates construction and implementation times, will be combined with personalized, AI-driven solutions from Strands through this collaboration.

Veritran has an extensive footprint by serving the top banks globally, reaching millions of users and running billions of secure transactions annually; meanwhile, Strands delivers more than 700 digital banking implementations worldwide. Working jointly, the companies will aim to improve their clients’ businesses in Latin America and the U.S., one of the largest markets for digital banking.

This partnership will also empower banks to take advantage of the new revenue streams, data and insights that emerging technology can provide. “Banks are relying on technology more than ever before to create seamless, engaging experiences for their customers,” said Omar Arab, EVP of Corporate Business & Head of Global Alliances at Veritran. Arab also added that “Joining with Strands will deliver a top-notch user experience while helping the end-users of this technology better manage their money and make more informed financial decisions.”

Erik Brieva, CEO at Strands, said: “Our white-label digital money management solutions give financial institutions an edge over the competition, speed up internal processes and help them reap the benefits of a more engaged relationship with their customers. Partnering with Veritran will help to accelerate disruption in digital banking and change the paradigm.”