Bankjoy, a digital banking service provider based in Detroit, has announced the start of a new round of financing.
This funding round is led by Curql Collective, a credit union service organization that promotes fintech innovations for these unions.
Curql’s limited liability partners are investment credit unions, CUSO, and credit union leagues. These partners identify, evaluate, invest, and establish cooperation with portfolio companies.
Several current and potential Bankjoy Credit Union clients, including AEA Credit Union, Federal Community Credit Union, and Federal State Credit Union, will also participate in the announced funding round.
Bankjoy was founded in 2015. Since the first days of its existence, the company has demonstrated stable growth dynamics. The firm’s clients are currently more than 60 financial institutions. A comprehensive banking platform created by the company’s specialists is available to more than a million representatives of credit unions and bank account holders.
Following the results of the financing round, Bankjoy expects to receive financial resources that will provide a basis for further sustainable growth and provide an opportunity to step up work on creating innovative products to provide the best digital banking experience.
The company’s product line includes modern banking technologies, including mobile and online banking, electronic statements, online account opening, online loan issuance, and a special assistant based on artificial intelligence. This year, Bankjoy has introduced several new features, including a new offline solution for opening an online account and a new business banking platform.
Michael Duncan, CEO of Bankjoy, analyzing the emerging trends, is convinced that the growth of interest rates will continue, which will entail a change in the strategies of digital transformation of banks and credit unions. He also stated that online and mobile banking applications have a serious impact on the satisfaction of users and account holders.
As we have reported earlier, Startup Zipzero Raises £1 Million.