Sterling National Bank Signs Banking as a Service Agreement with BrightFi
April 12 2021 - 8:00AM
Sterling National Bank, the wholly-owned operating bank subsidiary
of Sterling Bancorp (NYSE: STL), today announced it has entered
into a Banking as a Service agreement with BrightFi, a provider of
cloud-based digital banking platform technology and services to
regional and community banks and non-bank entities.
This collaboration with BrightFi marks the latest in a series of
strategic partnerships and digital technology investments for
Sterling, and follows the recent announcement of Banking as a
Service partnerships with Google Pay and Rho Technologies. Sterling
will provide banking solutions in support of BrightFi’s cloud-based
direct to consumer and digital banking technology and operations
platform.
“We are excited to partner with BrightFi in building and
delivering an innovative set of services that bring digital banking
solutions to those that need it most,” said Matthew Smith,
Executive Managing Director; Direct Banking and Banking as a
Service. “Our Banking as a Service partnerships allow us to deliver
best in class, digitally-enabled banking solutions to a broader
group of clients. We see our collaboration with BrightFi as an
opportunity to create and deliver seamless banking experiences to
current and future clients.”
“For too long, those communities most in need of banking have
seen solutions taken away and traditional banks say ‘no.’ Together,
with Sterling National Bank, we’re going to change that,” said
Michael Coghlan, CEO of BrightFi and its parent company, Verdigris
Holdings, Inc. “We’re excited to partner with Sterling because,
like us, they are community-focused, committed to making a
difference, and willing to think creatively to bring solutions that
make banking easier for customers of all sizes.”
About Sterling National Bank:Sterling National
Bank specializes in the delivery of financial services and
solutions for small to mid-size businesses and consumers within the
communities we serve through a distinctive team-based delivery
approach utilizing highly experienced, fully dedicated relationship
managers. Sterling National Bank offers a complete line of
commercial, business, and consumer banking products and services.
For more information, visit www.snb.com.
About BrightFi: BrightFi, a subsidiary of
Verdigris Holdings Inc., delivers a cloud-based technology and
operations BaaS platform that lets financial institutions and
non-banks who want to launch banking products configure, test and
deploy new products or digital brands at a fraction of the time and
cost. BrightFi Services significantly reduces the cost to serve
banking customers and brings banking to even more communities and
customers that need it most. For more information, visit:
www.brightfiservices.com
STERLING NATIONAL BANK
CONTACT: |
|
Emlen Harmon, Senior
Managing Director – Investor Relations |
|
212.309.7646 |
|
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