Apiture, the digital transformation company, announced today the launch of Live Oak Bank’s new business banking experience built with Apiture Open. Partnering with Apiture and other select software providers, Live Oak has launched a modern banking solution that includes the integration of digital account opening, savings and CDs.
When Live Oak Bank, the nation’s leading small business bank, decided to rebuild their digital offerings, their goal was to build with the future in mind. Huntley Garriott, president of Live Oak Bank, said, “The banking industry is experiencing a time of unprecedented digital innovation. Apiture’s API-first platform allows us to not only work with leading fintech partners such as Finxact, Payrailz, Savana and others, but also provides the flexibility to create an ecosystem of next-generation banking technologies that put the customer at the center of everything we do.”
Apiture offers banks and credit unions unmatched innovation capabilities. The Apiture Open platform is built unlike any other digital solution on the market, utilizing Application Programming Interfaces (APIs) to curate digital solutions without limitations for financial institutions. For instance, financial institutions can embed banking services in other SaaS offerings as well as enable business new account opening.
Chris Babcock, Apiture chief executive officer, said, “We are very excited to see the growth and possibilities available for Live Oak following this launch. They had a clear vision of the tailored experience that they wanted to create for their customers, and we were happy to have the opportunity to work alongside their team and handpicked partners to bring a high-quality solution to market.” Babcock continues, “Live Oak’s innovation is a cornerstone in our mission to provide banks and credit unions with differentiated digital experiences that will transform their digital customer relationships at a time when it is needed most.”
Live Oak Bank is using Apiture Open’s API infrastructure to orchestrate its digital services. Apiture’s modern, omni-channel user experience is optimized for ease of use and met Live Oak Bank’s requirements out of the box.
Chip Mahan, chairman and chief executive officer at Live Oak Bank, said, “Providing the best service to our customers is Live Oak’s number one priority. We believe Apiture has the best-in-class approach to delivering modern banking services to our customers and with Apiture’s leading technologies, we can deliver on our promise to be America’s small business bank.”
About Apiture
Apiture is on a mission to change the way the financial industry operates digitally by providing the integrations, capabilities, and resources that banks and credit unions have not had access to in the past. Offering two differentiated digital experience platforms, Apiture Xpress and Apiture Open, Apiture has developed innovative solutions that can be used by financial institutions of any size. Apiture products currently serve over 400 financial institutions within the United States market. Apiture is headquartered in Wilmington, North Carolina, with offices in Austin, Texas.
About Live Oak Bank
Live Oak Bank, a subsidiary of Live Oak Bancshares, Inc. (Nasdaq: LOB), is a digitally focused, FDIC-insured bank serving customers across the country. Live Oak puts a groundbreaking spin on service and technology to redefine banking. Our products help customers buy, build and expand their business, and high-yield savings and CD products to grow their hard-earned money. To learn more, visit www.liveoakbank.com.
