Dragonfly Financial Technologies Corp., a digital banking and treasury management fintech, announced its official launch as an independent company following the completion of One Equity Partners’ acquisition of ACI Worldwide’s Corporate Online Banking unit. Operating in a global market forecast to be $1.1 billion by 2023, according to Omdia, Dragonfly Financial Technologies now has the autonomy and resources to deliver innovations across its product portfolio, expand its customer success team and target more commercial banking customers in the U.S. and international markets.
A market leader from day one, Dragonfly Financial Technologies has more than 40 banking and financial services customers worldwide, including 5 of the top 10 U.S. banks. The company’s Universal Online Banker (UOB) and Enterprise Banker (EB) solutions help banks initiate payments, collect money owed and manage financial positions and operations for their business customers. Now independent, Dragonfly Financial Technologies will invest significantly in improving its cloud-based digital business banking platform, with its vast library of open APIs, feature-rich functionality and extensive reporting capabilities.
Aite-Novarica Group, an advisory firm providing mission-critical insights on technology, regulations, strategy and operations to hundreds of banks and other financial services companies, rated Dragonfly’s Universal Online Banker as “Best in Class” in its analysis of Leading U.S. Cash Management Vendors last year. Dragonfly’s UOB platform was noted for being “user-friendly, feature-rich and among the strongest in the industry for its payments capabilities.”
“This is an exciting time in the global digital business banking arena with many banks seeking new payment capabilities and open API infrastructures. Technology providers like Dragonfly with robust, next-generation offerings coupled with a focus and commitment to the space and innovation, are well positioned to lead during this time of change,” said Christine Barry, Head of Banking and Payments Insights and Advisory at Aite-Novarica Group.
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Leading the new company as CEO is Johan Roets, who formerly served as Chief Administrative Officer for ACI Worldwide and also was the company’s Chief Transformation Officer. Earlier in his career, Roets worked in various leadership roles in retail banking and payments with Standard Bank Group and as a partner with Arthur Andersen & Co.
“Across cultures, dragonflies are revered for their agility, excellent vision and as symbols of strength, transformation and prosperity, so it is a fitting name for our company, as we combine the passion, ingenuity and drive of a start-up with the large customer base and resources of an established growth company,” said Roets. “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.”