Today In Digital-First Banking: Freelancing Banking App Lili Lands $15M; Alacriti Rolls Out RTP Product For Financial Institutions
In today’s top news in digital-first banking, freelancer banking app Lili has notched $15 million in a funding round, while New Jersey-based FinTech Alacriti is rolling out a new offering that will connect banks and credit unions (CUs) with real-time payments (RTP). Plus, UnionBank of the Philippines is digitizing its onboarding procedure.
Lili, the all-in-one banking app usually harnessed for freelancers, has landed $15 million in a funding round, bringing its overall funding raised to $25 million. The infusion will be utilized to assist Lili in bolstering its growth, adding to engineering as well as product workforces and strengthen client adoption. Nearly 100,000 individuals have begun utilizing Lili as of its rollout.
Alacriti is launching a new offering that will connect CUs and banks with the work of RTP, having debuted its Cosmos for RTP product. The New Jersey-based FinTech says that Cosmos for RTP, which is fueled by its Orbipay infrastructure, will assist financial institutions (FIs) with linking up to The Clearing House’s RTP® network. In turn, CUs and banks can provide clients with access to real-time payment offerings.
The UnionBank of the Philippines is digitizing its onboarding process to provide custom solutions that will assist in making banking transactions more seamless. While onboarding is typically one of the more cumbersome parts for businesses in harnessing new platforms, the bank’s online banking platform can help customers go digital and start work in under a day.
First Horizon Bank, which is based in Tennessee, has transitioned its digital platform to the NCR D3 infrastructure. The bank has harnessed the NCR D3 program for companies, providing tailored offerings and different functions for small and medium-sized businesses (SMBs) to help monitor financial wellness. First Horizon also recently worked with FinTech Interchecks and introduced ClearPath Fast Payments.