The American Bankers Association today announced a new investment in PortX, an AI-powered data integration platform built for community banks that addresses the growing need for digital transformation in the financial services sector.
During the course of ABA’s recent research in middleware providers — which resulted in two reports, Exploring Banking Middleware Solutions and the Middleware Product Assessment — PortX stood out as a top data integration provider for banks. Over time, it became the most mentioned and recommended platform in conversations with bankers.
“To stay competitive, banks must embrace faster, more flexible ways to deliver products and services,” ABA President and CEO Rob Nichols said. “Fintech partnerships with companies like PortX are essential to driving innovation in banking, and our investment will get this technology in the hands of banks even sooner.”
PortX is the latest investment by ABA in emerging companies that hold potential to help America’s banks innovate and solve operational challenges. All of ABA’s venture investments are reviewed and approved by ABA’s banker-led Venture Investment Committee.
