Valley National Bank taps NayaOne for fintech innovation platform
Valley National Bank, a subsidiary of Valley National Bancorp, has unveiled a new “innovation platform” powered by NayaOne designed to boost its collaborative efforts with fintechs.
Valley National Bank launches fintech innovation platform
The bank says the platform will allow it to meet the changing needs of its customers amid a “rapidly evolving digital environment”.
It adds the solution is already integrated with the products and services of “hundreds” of fintech firms and provides “a set of tools to create and apply synthetic data”, allowing the bank and its fintech partners to test new products in a separate sandbox environment.
With customers expecting more from financial services than ever before and with more options to choose from, not innovating comes at a “substantial cost”, the bank says.
Valley National Bank chief innovation officer Stuart Cook says the platform shows how regional and community banks can access and utilise fintech products to meet customer expectations.
“With this launch, we are deploying a more efficient design-and-test process, which will ultimately help us reduce the time-to-market to deliver new solutions,” Cook adds.
Valley National Bank is a regional bank with approximately $57 billion in assets. It has branches across New Jersey, New York, Florida and Alabama.
