Agora Services, the challenger bank technology platform for community banks and credit unions, has partnered and integrated with IDology and Middesk to bring the most advanced digital onboarding platform available to local financial institutions.
Through the integrated solution, financial institutions can now offer best-in-class onboarding experiences to new small business digital banking customers. Near-instant identity verification allows community banks and credit unions to open accounts in real time and issue virtual cards within minutes.
“Previously community banks and credit unions struggled to onboard retail as business customers in a timely manner,” said Arcady Lapiro, founder and CEO of Agora Services. “Agora’s recent partnership with IDology and Middesk, coupled with Agora’s real time middleware platform, has allowed that process to be streamlined to just a few minutes. This best in class offering allows business customers to start banking almost instantly with customized digital bank products.”
Agora’s challenger bank technology platform provides community banks and credit unions the ability to build new digital banking products using a modular banking architecture. Through this full suite of challenger bank technology, community banks and credit unions can offer competitive technology without having to overhaul their legacy core provider. Agora’s partnership with IDology and Middesk offers an innovative and secure approach to identity verification and fraud prevention to help increase customer acquisition and improve the customer experience.
“Businesses make up a bank’s most profitable and successful customers, and today’s small business owners demand the same digital banking capabilities available to retail customers,” said Kyle Mack, CEO at Middesk. “Our partnership with Agora Services provides fast and secure onboarding so that new business customers can begin banking as fast as possible.”
“Digital identity verification is a critical starting point preventing fraud and ensuring compliance for new account openings,” said Christina Luttrell, CEO at IDology. “By partnering with Agora, we are providing the intelligence financial institutions need to deter fraud while streamlining the experience for legitimate customers.”
About Agora Services
Agora Services, a Mastercard Start Path, ICBA ThinkTech and INV Fintech Accelerator company offers financial institutions a robust and customizable cloud-based offering that enables banking customers to create new banking products. For more information, visit www.agoraservices.us.
IDology, a GBG company, provides real-time technology solutions that verify an individual’s identity and age for anyone conducting business in a consumer-not-present environment to help drive revenue, decrease costs, prevent fraud and meet compliance regulations. Founded in 2003, IDology offers a solution-driven approach to identity verification and fraud prevention that ultimately helps increase customer acquisition and improve the customer experience. IDology has developed an innovative and on-demand technology platform that allows customers to control the entire proofing process and provides the flexibility to make configuration changes that are deployed automatically—without having to rely on internal IT resources or IDology’s customer service so businesses can stay ahead of the fraud landscape while maintaining compliance. For more information, visit www.IDology.com.
Headquartered in San Francisco, Middesk makes it easy to verify the legitimacy of any business. By providing reliable access to Secretary of State data in all 50 States, Middesk enables innovative companies to accelerate customer onboarding while managing risk at scale. Middesk’s business Identity product applies modern data science and machine learning techniques with trusted data sources to verify business identities in real-time, improving coverage rates while cutting manual review times. Middesk is backed by Sequoia Capital and Accel Partners. To learn more, visit Middesk.com.