Group 892

Addressing the “Three Myths about Community Banks and Open Banking” with iPaaS (integration platform as a service)

Addressing the “Three Myths about Community Banks and Open Banking” with iPaaS (integration platform as a service)

The Financial Brand recently published an insightful article by Shanda Purcell, Senior Director of Open Banking at CSI, entitled “Busting Three Myths about Community Banks and Open Banking,” where she addresses common misconceptions that may hinder a community bank (or credit union) from pursuing this fundamental aspect of modern financial services. As open banking continues to shape the future of finance, it’s crucial for community banks and credit unions to understand how Integration Platform as a Service (iPaaS) can address these myths and unlock the full potential of open banking initiatives.

Myth 1: Open Banking is Just for Big Banks

One prevailing myth is that open banking is exclusive to large financial institutions with extensive resources. However, with iPaaS solutions, community banks and credit unions can leverage third-party integrations through APIs, enabling them to embrace open banking at their own pace, and without changing their legacy core in most cases. iPaaS platforms offer flexibility and scalability, allowing community banks and credit unions to implement incremental tech upgrades that align with their growth strategies. From streamlining loan decisioning to enhancing payments processing, iPaaS empowers financial institutions to adopt open banking practices tailored to their unique needs.

Myth 2: Banking-as-a-Service is the Best Use Case for Community Banks

Another misconception is that Banking-as-a-Service (BaaS) represents the pinnacle of open banking opportunities for community banks and credit unions. While BaaS models offer potential revenue gains, they often require significant infrastructure investments and pose compliance risks. iPaaS solutions present community banks with alternative open banking use cases that are both valuable and low-risk. By focusing on API-based initiatives like real-time integrations for account opening, community banks and credit unions can achieve tech upgrades without overhauling their entire operations. iPaaS platforms facilitate seamless integrations with existing core systems, empowering financial institutions to expand their services and improve customer or member experiences.

Myth 3: Open Banking Applications Require Tech Geniuses

A common misconception is that adopting open banking applications necessitates additional IT resources and expertise. However, iPaaS platforms democratize access to open banking APIs, allowing line-of-business specialists within community banks and credit unions to maximize their value. With intuitive developer portals and user-friendly documentation, iPaaS solutions enable non-developers to understand and implement open banking initiatives effectively. By involving domain experts such as account specialists in loans or deposits, community banks and credit unions can leverage iPaaS to enhance operational efficiency and drive innovation without relying on tech geniuses.

What It All Boils Down To

iPaaS represents a powerful tool for community banks and credit unions looking to embrace open banking and dispel common myths. By leveraging iPaaS solutions, financial institutions can harness the benefits of open banking initiatives while mitigating risks and maximizing value. With iPaaS, open banking becomes accessible, manageable, and tailored to the unique needs of community banks and credit unions, empowering them to thrive in the evolving financial landscape.

About Sandbox Banking

Sandbox Banking is a digital transformation partner that helps unlock revenue via Glyue™, our groundbreaking Integration Platform as a Service (iPaaS). Glyue™ is used by North American banks and credit unions ranging from $500M to $200B+ in size, and provides connectors from the 14+ of the most popular core banking platforms to more than 50 lending, deposit, KYC/AML, data, cards, underwriting, mobile banking, and analytics solutions from the world’s best providers. To learn more, visit www.sandboxbanking.com.

Group 893

Sandbox Banking and Creatio Announce Strategic Partnership to Enhance CRM Capabilities for Financial Institutions

Sandbox Banking and Creatio Announce Strategic Partnership to Enhance CRM Capabilities for Financial Institutions

May 6, 2024, Cambridge MA — Today Sandbox Banking, the innovator behind Glyue™, a low-code iPaaS (integration platform as a service) for banking, has joined forces with Creatio. This partnership marks a significant milestone in Sandbox Banking’s journey as it aligns with Creatio, a global vendor of a no-code platform to automate workflows and CRM with a maximum degree of freedom, and a Visionary in the 2023 Gartner® Magic Quadrant™ for Enterprise Low-Code Application Platforms.

Together, Sandbox Banking and Creatio are poised to revolutionize the banking industry by connecting banking software and systems, data and people with Creatio’s workflow automation and CRM solutions that empower financial institutions to thrive in today’s rapidly evolving digital landscape.

This partnership brings together Sandbox Banking’s cutting-edge

iPaaS solution for banks and credit unions with Creation’s powerful no-code platform for CRM, enabling financial institutions to streamline operations, enhance customer and member experiences, and accelerate digital transformation efforts.

“Our partnership with Creatio is an exciting opportunity to enhance CRM capabilities for financial institutions,” said Kelsey Saia, VP of Partnerships at Sandbox Banking. “By merging Sandbox Banking’s proficiency in fintech integrations with Creatio’s leading CRM platform, we aim to empower banks and credit unions to better understand and serve their account holders, fostering growth and innovation in the financial services sector.” This alliance seeks to expedite digital transformation within the banking industry by leveraging Creatio’s expertise and innovative solutions alongside Sandbox Banking’s groundbreaking Glyue™ low-code iPaaS banking automation solution.

Creatio’s no-code platform enables organizations to automate workflows and CRM with a maximum degree of freedom. With over 700 partners globally, a local presence in 25 countries, and a track record of successful implementations, Creatio has a strong presence in the finserv industry supporting financial institutions in their digital transformation journey.

“Thousands of leading organizations in the financial services sector worldwide are leveraging Creatio’s no-code platform to drive innovation and enhance their customer experiences. We are thrilled to collaborate with Sandbox Banking to enable more companies in North America to tap into innovative finserv-specific solutions powered by no-code,” said Alex Donchuk, Senior Vice President, Global Channels at Creatio.  

Initially, the partnership will prioritize integrating core banking systems with which Sandbox Banking has existing integrations, alongside Creatio’s CRM platform, allowing financial institutions to retrieve up-to-date customer or member information seamlessly. This integration supports various use cases, including call center operations, sales activities, and customer or member onboarding.

Key features of the integration include:

  • Bulk data import via REST API
  • Daily data synchronization to keep Creatio updated with new/changed customer or member data
  • Universal connectors between Creation and Sandbox Banking’s GlyueTM iPaaS
  • Enhanced account holder data management through connectors to Fiserv DNA and other core banking systems

The joint effort will kick off with the release of an MVP integration product, with plans for additional functionality and connectors to be added in the future. Sandbox Banking’s GlyueTM platform will be available on the Creatio Marketplace, providing financial institutions with easy access to essential tools.

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About Sandbox Banking

Sandbox Banking is a digital transformation partner that helps unlock revenue via Glyue™, our groundbreaking Integration Platform as a Service (iPaaS). Glyue™ is used by North American banks and credit unions ranging from $500M to $200B+ in size, and provides connectors from the 14+ of the most popular core banking platforms to more than 50 lending, deposit, KYC/AML, data, cards, underwriting, mobile banking, and analytics solutions from the world’s best providers. Sandbox Banking’s investors include Horizon Ventures, Tuesday Capital, Forum Ventures, SixThirty & YCombinator. To learn more, visit https://sandboxbanking.com.

About Creatio

Creatio is a global vendor of a no-code platform to automate workflows and CRM with a maximum degree of freedom. Millions of workflows are launched on our platform daily in 100 countries by thousands of clients. Genuine care for our clients and partners is a defining part of Creatio’s DNA. 

For more information, please visit www.creatio.com.  

For media inquiries, please contact:

Michele Yurcich
Director of Marketing
michele.y@sandboxbanking.com

fintech-meetup

2024 COCC PARTNERS EXPO

Jun 12 – 14, 2024

2024 COCC PARTNERS EXPO – Uncasville, CT

2024 COCC PARTNERS EXPO

Welcome to the biggest event of the year! COCC’s Annual Client Conference returns bringing together our leadership teams, partners, and clients for a highly immersive experience, while showcasing our collaboration and partnerships on full display. Featuring a jam packed, custom program filled with product experts, industry leaders and special guest speakers to address trending topics, issues, and innovations in the financial services industry, this won’t be an event you want to miss. Come join us as we look forward to seeing everyone there!

Learn more and register for 2024 COCC PARTNERS EXPO

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fintech-meetup

No-Code Days Florida

May 9 – 10, 2024

No-Code Days – Miami, FL

No-Code Days Florida

 

Get Inspired
  • Embrace ever-changing business landscape: Insights from industry pioneers
  • Dive into the future: Hear from leading experts on the next digital frontier of business
  • Elevate your business with Creatio Copilot powered by GenAI and no-code
  • Ignite conversations: Fireside chats with visionary executives on global trends, digital mastery, and bold strategies for the future

Learn

  • Best practice sessions on automating workflows and CRM with no-code, tailored for your industry
  • Mastering the future: workshops showcasing GenAI and no-code use cases
  • Elevate your expertise: Platform and product deep-dives curated for diverse roles
  • Chart your course to success: Gain exclusive insights into the Creatio strategic roadmap, guiding your journey toward future growth

Engage into

  • Collaborative sessions with Creatio customers and partners
  • Networking and experience exchange
  • Numerous parties and activities exclusively for the Creatio community
  • Sunshine State’s vibe, warm weather, and beautiful beaches

Learn more and register for No-Code Days Florida

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Give teams the power of real-time data from your core banking system with Creatio and Glyue™, powered by Sandbox Banking

Give teams the power of real-time data from your core banking system with Creatio and Glyue™, powered by Sandbox Banking.

Complete integration of a core banking system with Creatio is essential for enhancing the technological prowess of any bank or credit union. Leveraging Glyue™ for bulk data loading and real-time API integrations ensures seamless synchronization of your core data with Creatio. This empowers your team to harness the CRM’s full potential with critical real-time and bulk data from the core system.
 
To read the full use case, fill out the form to the right.

Automate UCC search and filing processes by integrating iLien from Wolters Kluwer to your Loan Origination System (LOS) via Glyue™, powered by Sandbox Banking

Automate UCC search and filing processes by integrating iLien from Wolters Kluwer to your Loan Origination System (LOS) via Glyue™, powered by Sandbox Banking.

Automating the UCC search and filing process through Glyue™’s integration with iLien from Wolters Kluwer is a game-changer for lenders. By eliminating manual data entry and the potential for errors, this integration significantly improves operational efficiency in lending workflows. With streamlined processes, lenders can focus more on serving their clients and less on administrative tasks.
 
To read the full use case, fill out the form to the right.

Store signed agreements in OnBase using DocuSign’s Maestro platform and Glyue™, powered by Sandbox Banking

Store signed agreements in OnBase using DocuSign’s Maestro platform and Glyue™, powered by Sandbox Banking

Automating the transfer of finalized documents from DocuSign to OnBase can significantly enhance operational efficiency for any financial institution utilizing these systems. Leveraging the DocuSign integration via Glyue™, completed forms and envelopes can be seamlessly tagged with necessary metadata and routed directly to the OnBase platform. This integration minimizes repetitive manual tasks and optimizes the eSignature experience.
 
To read the full use case, fill out the form to the right.

Trigger workflows from DocuSign’s Maestro platform with data from nCino LOS and Glyue™, powered by Sandbox Banking

Trigger workflows from DocuSign’s Maestro platform with data from nCino LOS and Glyue™, powered by Sandbox Banking.

The integration of the nCino loan origination system with DocuSign marks a significant advancement in enhancing the operational efficiency and back-office capabilities of banks and credit unions. Leveraging the DocuSign integration via Glyue™, real-time data gathered from DocuSign envelopes and forms can seamlessly synchronize with nCino. This integration enables automated downstream processes, effectively streamlining the loan origination process.
 
To read the full use case, fill out the form to the right.

Archive signed documents in Fiserv Nautilus ECM via DocuSign’s Maestro platform and Glyue™, powered by Sandbox Banking

Archive signed documents in Fiserv Nautilus ECM via DocuSign’s Maestro platform and Glyue™, powered by Sandbox Banking.

Automating the transfer of finalized documents from DocuSign to Fiserv Nautilus can significantly enhance operational efficiency for financial institutions utilizing these systems. Leveraging the DocuSign integration via Glyue™, completed forms and envelopes can be seamlessly tagged with necessary metadata and routed directly to the Fiserv Nautilus ECM. This integration minimizes manual efforts and optimizes the eSignature process.
 
To read the full use case, fill out the form to the right.

Automate your Jack Henry Symitar core processes with DocuSign’s Maestro platform and Glyue™, powered by Sandbox Banking

Automate your Jack Henry Symitar core processes with DocuSign’s Maestro platform and Glyue™, powered by Sandbox Banking.

The integration of the core banking system with DocuSign represents a significant leap in enhancing operational efficiency and back-office capabilities for banks and credit unions. Leveraging the DocuSign integration via Glyue™, real-time data gathered from DocuSign envelopes and forms can seamlessly synchronize with Jack Henry Symitar, facilitating automated downstream processes and reducing manual workload.
 
To read the full use case, fill out the form to the right.