Digital banking and treasury management FinTech company Dragonfly Financial Technologies has launched as an independent company after the completion of private equity firm One Equity Partners’ acquisition of payments software provider ACI Worldwide’s corporate online banking unit.
With its new autonomy and resources, Dragonfly will add innovations to its product portfolio, expand its team and target more U.S. and international commercial banking customers — adding to the more than 40 banking and financial services customers worldwide it already serves — according to a Thursday (Sept. 1) press release.
“Customers widely recognize our products as delivering a tremendous level of innovation and value to their business through our features, user experience and hundreds of API integrations — and now we have the independence, focus and investment to accelerate our product roadmap and bolster our overall customer success experience,” Dragonfly CEO Johan Roets said in the release.
One Equity Partners agreed to purchase ACI Worldwide’s corporate online banking unit, which had been known as Digital Business Banking Solutions, in June, noting that the application programming interface (API)-driven solution for banking firms allows blue chip banks to process “over $1 billion in daily payments.”
As PYMNTS reported at the time, the acquisition came as the U.S. online commercial banking sector is seeing more demand for API-driven automated digital banking and treasury management solutions, with more banks adopting cloud-based IT ecosystems to boost functionality, minimize costs, leverage API-based integration and make for more interoperability among vendors.
With the Sept. 1 launch of Dragonfly as an independent company, it said in the press release that it would invest in improving its cloud-based digital business banking platform.
“Across cultures, dragonflies are revered for their agility, excellent vision and as symbols of strength, transformation and prosperity,” Roets said in the release, “so it is a fitting name for our company, as we combine the passion, ingenuity and drive of a [startup] with the large customer base and resources of an established growth company.”