MERCER ISLAND, Wash.: #banking--PortX, the AI-powered data integration platform built for banks and credit unions, today announced the close of a strategic growth round backed by Allied Solutions and the American Bankers Association (ABA).

This latest round brings two of the most respected names in financial services and includes renewed participation from existing backers-BankTech Ventures, Curql Collective, BTech Consortium, and others-reflecting sustained conviction in PortX’s strategy and market momentum.

“We’re humbled by the fact that the financial industry keeps doubling down on the work we’re doing,” said David Wexler, CEO of PortX. “Our existing investors continue to demonstrate confidence in our growth, while the addition of Allied Solutions and the ABA represents massive faith in our platform and the value it delivers to FIs.”

Allied Solutions Strengthens Its Partnership with PortX

Allied Solutions, a leading provider of insurance, lending, and risk management services to financial institutions, has invested in PortX, deepening its technology connection with more than 6,000 financial institution clients.

"We are committed to investing in tools that modernize our business and streamline our service," said Pete Hilger, CEO of Allied Solutions. "PortX offers the innovative technology needed to deliver fast, secure, and proven integrations to support our Credit Union and Banking clients."

After evaluating multiple approaches, Allied selected PortX as its foundation for core connectivity and will engage with its customer base over the next couple of years to explore PortX migration.

ABA Builds on Its Evaluation of PortX

“To stay competitive, banks must embrace faster, more flexible ways to deliver products and services,” said ABA President and CEO Rob Nichols. “Fintech partnerships with companies like PortX are essential to driving innovation in banking, and our investment will get this technology in the hands of banks even sooner.”

The ABA’s investment builds on its 2023 “Exploring Banking Middleware Solutions” report, which recognized PortX as a leader in Integration-Platform-as-a-Service (iPaaS) solutions for banking.

“PortX is well-positioned to establish itself as a leader in banking integration, offering a robust, scalable solution with strong integration capabilities,” said Brooke Ybarra, Senior Vice President of Innovation at ABA. “We’ve heard nothing but strong praise from bankers across the country for PortX’s ability to deliver and execute effectively.”

About PortX

PortX, powered by PiXi AI, is the only AI-powered data integration solution purpose-built for banks and credit unions. The PortX Platform unifies core, fintech, application, data, and payments connectivity in one secure, scalable hub. Financial institutions can adopt fintechs faster, publish trusted “blessed” data across the enterprise, and deliver real-time insights. PortX gives financial institutions the confidence, agility, and speed to compete with the largest banks at a fraction of the cost. PortX is trusted by financial institutions nationwide to modernize systems, accelerate growth, and achieve Customer360 outcomes. Learn more at portx.io.

About Allied Solutions

Allied Solutions is one of the largest providers of insurance, lending, risk management, and data-driven solutions to financial institutions. Allied Solutions uses technology-based solutions customized to meet the needs of 6,000 clients, along with a portfolio of innovative products and services from a wide variety of providers. Allied Solutions is headquartered in Carmel, Indiana, with regional offices in Florida, Minnesota, South Dakota, and Texas. Allied Solutions is a wholly owned and independently operated subsidiary of Securian Financial Group. Visit alliedsolutions.net to learn more.

Fonte: Business Wire