Apiture Open to accelerate digital transformation and enhance client experience for First Horizon VirtualBank clients
Apiture, a leading cloud-native provider of digital banking solutions, announced today the migration of First Horizon Bank’s digital brand, VirtualBank, to the Apiture Open platform. After merging with IBERIABANK in 2020, Memphis, Tennessee-based First Horizon currently has over $87 billion in assets with 500 branch locations across twelve states.
VirtualBank is First Horizon’s digital-only banking experience, which is designed to create a differentiated digital brand for the bank. Through integrations with innovative technology solutions, VirtualBank enables First Horizon to expand its client base by providing a digital-only banking experience to both new and existing clients.
“We are excited to partner with Apiture for our VirtualBank brand,” said Anthony Restel, chief operating officer at First Horizon. “Apiture’s API-first platform will enable VirtualBank to work with the leading technology companies we need to be able to compete in a digital-first market.”
To launch VirtualBank, First Horizon used Apiture’s Direct Bank solution as the backbone to integrate with other leading API-driven fintechs, enabling implementation and go-live to be completed in less than eight months.
“The VirtualBank project is a prime example of Apiture’s mission – to empower financial institutions to compete and excel in a digital-first market,” said Chris Babcock, chief executive officer at Apiture. “We have partnered closely with the First Horizon team to provide a differentiated and truly unique banking experience for their clients.”
Apiture Open’s cloud-native, next-generation technology enables financial institutions to deliver a unique digital banking experience, built to evolve in step with the rapid rate of change in today’s financial world.
Apiture is a leading cloud-native provider of digital banking solutions. Apiture provides FIs with 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. For more information, please visit www.apiture.com.
About First Horizon
First Horizon Corp. (FHN), with $87.9 billion in assets as of June 30, 2021, is a leading regional financial services company dedicated to strengthening the lives of our associates, clients, shareholders, and communities. Headquartered in Memphis, TN, the banking subsidiary First Horizon Bank operates in 12 states across the southern U.S. The Company and its subsidiaries offer commercial, private banking, consumer, small business, wealth and trust management, retail brokerage, capital markets, fixed income, mortgage, and title insurance services. First Horizon has been recognized as one of the nation’s best employers by Fortune and Forbes magazines and a Top 10 Most Reputable U.S. Bank. More information is available at www.FirstHorizon.com.