AppTech’s FinZeo™ Fintech Platform to Roll Out to Credit Union Network with Over 2,000 Locations

Rhea-AI Summary

AppTech Payments Corp. announces its largest banking integration to date with a credit union network, aiming to roll out its FinZeo platform services to over 2,000 locations nationwide. The platform is expected to revolutionize the credit union ecosystem by offering seamless user experiences and innovative financial services.

Insights

Market Research Analyst

The announcement by AppTech Payments Corp. regarding the integration of its FinZeo™ platform with a credit union network represents a strategic move in the competitive Fintech landscape. This integration is significant due to the extensive reach of credit unions, which serve one-third of Americans. The partnership could potentially increase AppTech's market share and revenue streams, considering the $2.17 trillion in assets held by credit unions in the U.S. as of 2022.

The integration is expected to enhance user experiences across thousands of credit union locations, which may lead to increased customer satisfaction and retention for these institutions. Furthermore, the adoption of such a platform by legacy banks could signal a broader industry shift towards more agile and customer-centric banking solutions, potentially affecting the market dynamics within the financial sector.

Financial Analyst

Investors should note the potential financial implications of AppTech's expansion into the credit union market. The scale of this integration, involving over 2,000 locations, could lead to a substantial increase in AppTech's client base and serve as a catalyst for revenue growth. Additionally, the timing of the integration's completion, slated for Q2 2024, provides a clear timeline for when investors might expect to see the financial impacts reflected in the company's performance indicators.

It is also important to consider the operational costs associated with such a large-scale roll-out and whether AppTech has the necessary capital and resources to execute it effectively without compromising its current operations or financial stability.

Technology Industry Analyst

The Fintech industry is rapidly evolving and AppTech's FinZeo™ platform is positioned at the forefront of this change. By offering custom eco-solutions for seamless transactions, the platform addresses the increasing demand for efficient and user-friendly financial services. This move aligns with the broader industry trend of digital transformation within financial institutions.

The technology's capability to integrate with legacy systems and provide services like mobile payments, ACH and credit card processing is particularly noteworthy. This could indicate AppTech's commitment to interoperability and innovation, which may be a competitive advantage in attracting legacy banks struggling to modernize their infrastructure.

Company’s largest banking integration to date plans to roll-out to credit unions nationwide: one-third of Americans have credit union memberships

CARLSBAD, Calif., March 11, 2024 (GLOBE NEWSWIRE) -- AppTech Payments Corp. (“AppTech”) (Nasdaq: APCX), a pioneering Fintech company powering frictionless commerce, today announced it has signed an agreement to provide its FinZeo™ platform services to a credit union network with over 2,000 locations. Platform integration is expected to begin in March with completion anticipated in Q2 2024.

Following its launch, the FinZeo credit union offering is expected to be available to credit unions nationwide, positioning it as the Fintech platform of the future for credit unions and legacy banks. In 2022, there were over 4,700 credit unions in the U.S. with total assets reaching as much as $2.17 trillion.

The FinZeo platform offers custom eco-solutions to enable immersive, high conversion, seamless user experiences for customers with minimal effort.

As Fintech continues to drive innovation in banking, legacy banks are challenged to keep up with and effectively compete against newer and larger financial services providers. FinZeo offers a turnkey competitive boost to legacy banks, powering them with technology services to offer better experiences to their members for a broad range of functions from mobile payments to ACH, and credit card processing.

“The roll-out of our FinZeo platform for the credit union ecosystem, which continues to grow in assets, presents significant opportunity to provide a fast, cost-efficient transition from legacy systems to tomorrow’s best-of-breed Fintech platforms. FinZeo is a great solution for credit unions and we expect to get solid traction in the space upon this rollout,” stated Luke D’Angelo, AppTech’s Chairman & CEO.

About AppTech Payments Corp.

AppTech Payments Corp. (NASDAQ: APCX) provides digital financial services for financial institutions, corporations, small and midsized enterprises (“SMEs”), and consumers through the Company’s scalable cloud-based platform architecture and infrastructure, coupled with our Specialty Payments development and delivery model. AppTech maintains exclusive licensing and partnership agreements in addition to a full suite of patented technology capabilities. For more information, please visit apptechcorp.com.

Forward-Looking Statements

This press release contains forward-looking statements that are inherently subject to risks and uncertainties. Any statements contained in this document that are not historical facts are forward-looking statements as defined in the U.S. Private Securities Litigation Reform Act of 1995. Words such as “anticipate, believe, estimate, expect, forecast, intend, may, plan, project, predict, should, will” and similar expressions as they relate to AppTech are intended to identify such forward-looking statements. These risks and uncertainties include but are not limited to, general economic and business conditions, effects of continued geopolitical unrest and regional conflicts, competition, changes in methods of marketing, delays in manufacturing or distribution, changes in customer order patterns, changes in customer offering mix, and various other factors beyond the Company’s control. Actual events or results may differ materially from those described in this press release due to any of these factors. AppTech is under no obligation to update or alter its forward-looking statements, whether as a result of new information, future events, or otherwise.

Investor Relations Contact

CORE IR
Scott Arnold
scotta@coreir.com 

AppTech Payments Corp.

760-707-5959
info@apptechcorp.com 

FAQ

What did AppTech Payments Corp. announce regarding a credit union network?

AppTech Payments Corp. announced an agreement to provide its FinZeo platform services to a credit union network with over 2,000 locations.

When is the platform integration expected to begin?

The platform integration is expected to begin in March with completion anticipated in Q2 2024.

How many credit unions were there in the U.S. in 2022?

In 2022, there were over 4,700 credit unions in the U.S. with total assets reaching as much as $2.17 trillion.

What does the FinZeo platform offer to credit unions?

The FinZeo platform offers custom eco-solutions to enable immersive, high conversion, seamless user experiences for customers with minimal effort.

Who is Luke D'Angelo and what did he state about the FinZeo platform?

Luke D'Angelo is AppTech's Chairman & CEO. He stated that the roll-out of the FinZeo platform for the credit union ecosystem presents significant opportunity to provide a fast, cost-efficient transition to best-of-breed Fintech platforms.