The journey of a startup is rarely a straight line, especially when it begins right before a global pandemic. It’s marked by discovery, adaptation, and often a much broader vision than anyone could have anticipated. BankShift started with a focused goal: enabling community banks and credit unions to embed banking services directly within popular brands through what we called brand-on-banking. However, as we’ve grown alongside our clients and explored the industry’s needs, our vision has naturally expanded.
Today, BankShift is evolving into something much larger: a full digital banking and branding platform. That’s right! We’ve merged these concepts into one cohesive system. While we remain committed to embedding financial technology into beloved brands, we are also going beyond that by creating an integrated platform for digital banking. This shift allows us to deliver not only the tech that powers embedded banking but also the tools for financial institutions to build a distinct digital presence, fostering stronger and more trusted connections with their members and customers while maintaining control with separation of duties in mind.
With this new platform, credit unions and community banks are equipped to stand out in today’s competitive landscape. We’ve combined essential features with your biometric security, robust compliance measures, and our powerful branding capabilities. This all-in-one approach helps financial institutions create secure, branded digital experiences that drive revenues, loyalty and trust.
At the heart of our platform is our ID verification workflow, which is essential for combating fraud. Our ID verification solutions, including selfie matching, can cut fraudulent account openings by up to 90% and reduce chargebacks by as much as 70%. Moreover, by integrating these verification steps into the payments workflow, financial institutions can effectively prevent bad actors from transferring funds. Our application ensures that no one can move money without a selfie match to the driver’s license on file during onboarding, significantly enhancing security.
We’re excited to take on this expanded role, supporting our clients as they lead in the digital-first world. Thank you for being part of our journey as we work to redefine what it means to offer both banking and branding excellence.
Sources.
For further insights, check out Jumio
About BankShift:
BankShift is a digital banking platform with branding technology operating under a banking-as-a-platform model, designed by experts with deep experience in digital-first and data-driven innovations. Our platform, featuring patent-pending technology, harmonizes brands with banking, enabling credit unions and community banks to embed their digital banking seamlessly across owned and partner apps. This approach creates new revenue streams, enforces compliance, and builds genuine loyalty among members, customers, and fans.
