DETROIT--(BUSINESS WIRE)--Leading digital banking provider Bankjoy has achieved record growth in 2023, expanding its client base in the last year, adding several new credit unions and community banks, as well as neobanks to its platform. The company has also released several new product enhancements in the last 12 months and established new partnerships with industry-leading providers, including Plaid and Fraud.net, among others.
Company Expands Client Base with No Churn
Demand has grown for modern, intuitive digital banking tools and as a result, Bankjoy has significantly expanded its client base in the last 12 months, now serving nearly 70 banks and credit unions nationwide. The company continues to grow its market share with the credit unions, but has also partnered with community banks and neobanks in 2023. Half of Bankjoy’s newest clients are credit unions while the balance were community banks, such as First Federal Savings & Loan of San Rafael and neobanks, like Panacea Financial.
In addition, Bankjoy maintained strong relationships with its existing clients and experienced no churn in 2023 thanks to the company’s commitment to ongoing product innovation and value-added partnerships.
Bankjoy Rolls Out Multiple Product Enhancements
The company has released several new product enhancements and updates in the last 12 months, further deepening client engagement and product adoption.
In 2023, Bankjoy rolled out several major new products and enhancements, including:
- Online Account Opening 2.0;
- Business Banking 2.0;
- Real-Time Fraud Monitoring and Prevention;
- Built-In Account Aggregation;
- Along with dozens of new features.
Bankjoy saw rapid adoption among clients for its newest products. Since launching Online Account Opening 2.0 earlier this year, nearly half of the company’s client base has gone live with the product, with many more planning to implement in early 2024.
Bankjoy’s Business Banking 2.0 platform has also gained significant traction, more than doubling the number of clients using the platform to serve businesses in their local communities. The latest clients to implement Bankjoy’s Business Banking platform include Live Life Credit Union, ValleyStar Credit Union, United State Bank and several others.
Bankjoy Announces New Value-Added Partnerships & Integrations
In addition to this year’s product innovations, Bankjoy now supports more integrations and third-party partners than ever before, ensuring banks and credit unions can deliver a feature-rich digital banking experience for their account holders.
In the last 12 months, Bankjoy has established new integrations and partnerships with leading fintech companies while strengthening relationships with existing partners, which now total over 100 and counting.
Among Bankjoy’s newest partners are:
- Plinqit
- Plaid
- Fraud.net
- Larky
- BMA Banking Systems
More Banks & Credit Unions Achieve Digital Transformation with Bankjoy
Established partnerships with leading fintech providers and direct integrations with core processing platforms means that financial institutions can quickly and easily implement Bankjoy’s digital banking platform. In many cases, Bankjoy’s clients have gone live with the platform in 35 days or less. Over the last year, the company has supported integrations with the major core systems, including Corelation’s KeyStone, CU Prodigy, Jack Henry’s Symitar and Fiserv’s Portico.
Additionally, because Bankjoy integrates with hundreds of third parties and layers them under a modern user-interface, financial institutions can offer an intuitive and feature-rich digital banking experience for account holders via multiple channels. As a result, Bankjoy’s clients have an average rating of 4.8 for their mobile banking app in app store reviews.
“This year was a milestone year for our team here at Bankjoy. Demand for digital transformation shows no sign of slowing down and our growth trajectory is a testament of that. We are proud to work with renowned financial institutions like NET Credit Union and United State Bank, as well as newer disruptors and neobanks, such as Panacea Financial,” said Michael Duncan, CEO of Bankjoy. “We expect to continue our growth momentum in 2024 and have several exciting updates planned for the year ahead.”
To stay up-to-date on the latest news and updates from Bankjoy, and to discover what’s coming for 2024, visit https://bankjoy.com/subscribe/.
About Bankjoy
Detroit-based FinTech, Bankjoy, delivers modern banking technology, including mobile banking, online banking, and a banking API to banks and credit unions — big and small. The company prides itself on creating beautiful products with advanced features, simple navigation, modern look and feel, and world class user experiences shaped by talking to users. Bankjoy is backed by Curql Collective, Bessemer Venture Partners, Y Combinator, and CheckAlt. For more information, visit www.bankjoy.com.
