Apiture lands $29 million for digital banking

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The Apiture Digital Banking Platform Closed a $29M Funding Round and Plans to Use It to Increase Marketing Efforts, Accelerate Product Development and Meet Increased Demand for the Apiture Digital Banking Platform , according to a press release from the company.

Live Oak Bank led Apiture’s funding round, with participation from other existing investors. The latest injection of fresh capital brings the total raised by Apiture to $69 million since its inception in 2017, according to the Thursday, July 14 press release.

The Apiture digital banking platform serves over 300 banks and credit unions across the United States

“Our platform is built by bankers, for bankers, which uniquely positions Apiture to deliver the best solutions that help financial institutions of all sizes level the playing field with national brands,” said Chris Babcock, CEO of Apiture.

Related: Banking revenues show digital and mobile shift is unstoppable

In other digital banking news, JPMorgan announced on Wednesday (July 13th) that active mobile customers grew 11% year-over-year to 47.4 million. A look at Wells Fargo data on Friday July 15 showed active mobile customers at the end of the second quarter stood at 28 million, gaining 4% year-over-year. The total number of digitally active customers during the period was 33.4 million, a gain of 2%.

Citi, meanwhile, said it saw 17 million active mobile users in the quarter, up 14% from the second quarter of 2021. Active digital users were 24 million, up 8%.

Credit and debit spending continues to be healthy just about everywhere. JPMorgan, as reported, saw 15% growth in debit and credit card volumes. Citi said credit card spending volume was 18% higher, at $122 billion on its branded cards. Wells Fargo said credit card volume of $30.1 billion compared favorably to $23.6 billion a year ago.

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NEW PYMNTS DATA: HOW UTILITIES AND CONSUMER FINANCE COMPANIES CAN IMPROVE THE BILL PAYMENT EXPERIENCE

About: More than half of utilities and consumer finance companies have the ability to digitally process all monthly bill payments. The kicker? Only 12% of them do. The Digital Payments Edge, a collaboration between PYMNTS and ACI Worldwide, surveyed 207 billing and collections professionals at these companies to find out why going digital remains elusive.

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