Valley Bank Launches Fintech Innovation Platform Powered by NayaOne

Rhea-AI Summary

Valley National Bank (NASDAQ: VLY) has launched a new innovation platform aimed at enhancing collaboration with fintech companies to better serve customers. This initiative comes in response to rising customer expectations and the rapid evolution of digital banking. The platform, powered by NayaOne, integrates with numerous fintech products, enabling Valley to test new solutions efficiently within a secure environment. Chief Innovation Officer Stuart Cook emphasized that this initiative reflects the bank's commitment to innovation and quicker time-to-market for new offerings. With approximately $57 billion in assets, Valley operates branches across New Jersey, New York, Florida, and Alabama, focusing on delivering advanced financial solutions.

Positive

• Launch of a new innovation platform to enhance fintech collaboration.
• Integration with hundreds of fintech products for better customer service.
• Improved design-and-test processes leading to quicker time-to-market for new solutions.
• Commitment to customer satisfaction and technological adaptation.

Negative

• None.

WAYNE, N.J.--(BUSINESS WIRE)-- Valley National Bank, a principal subsidiary of Valley National Bancorp (NASDAQ: VLY), today announced the launch of a new innovation platform which will accelerate and enhance its collaboration with fintech companies to meet the needs of Valley’s customers in a rapidly evolving digital environment.

Advancements in technology are raising customer expectations for financial products and services, and with customers now having more options than ever to choose from, the cost of inaction has substantially increased for financial institutions. Understanding this environment, Valley’s innovation platform is designed to embrace technological change, and enable the company to continue to transform its operations and deliver best-in-class customer experiences through partnerships with fintech companies.

Powered by NayaOne, the platform is already integrated with the products and services of hundreds of fintech companies through a simple and intuitive onboarding process. It also provides a set of tools to create and apply synthetic data, allowing Valley and its fintech partners to test drive new solutions at pace within a safe, structured, and separate sandbox environment.

“This platform shows how regional and community banks can access and leverage fintech products and services to meet and even exceed customer expectations through partnerships,” said Stuart Cook, Chief Innovation Officer for Valley Bank. “Valley is committed to inventing on behalf of our customers, while supporting an amazing network of fintech partners. With this launch, we are deploying a more efficient design-and-test process, which will ultimately help us reduce the time-to-market to deliver new solutions.”

About NayaOne

NayaOne is a leading financial technology company focused on bringing financial institutions and the fintech ecosystem together to accelerate digital transformation and innovation in the financial services industry. NayaOne's platform provides a single point of access to the latest fintech innovations and data, enabling financial institutions to stay ahead of the competition in a rapidly changing digital landscape.

About Valley

As the principal subsidiary of Valley National Bancorp, Valley National Bank is a regional bank with approximately $57 billion in assets. Valley is committed to giving people and businesses the power to succeed. Valley operates many convenient branch locations across New Jersey, New York, Florida and Alabama, and is committed to providing the most convenient service, the latest innovations and an experienced and knowledgeable team dedicated to meeting customer needs. Helping communities grow and prosper is the heart of Valley’s corporate citizenship philosophy. To learn more about Valley, go to www.valley.com or call our Customer Service Center at 800-522-4100.

View source version on businesswire.com: https://www.businesswire.com/news/home/20230424005265/en/

Pam Golden, GLA Communications

pam@glapr.com

973-564-8591

Source: Valley National Bank

FAQ

What is the new innovation platform launched by Valley National Bank?

The innovation platform aims to enhance collaboration with fintech companies to better serve customers and meet evolving digital demands.

How does the innovation platform benefit Valley National Bank's customers?

It allows Valley to integrate various fintech products and deliver enhanced financial solutions more efficiently.

Who powers Valley National Bank's innovation platform?

The platform is powered by NayaOne, facilitating connections with numerous fintech companies.

What is the asset size of Valley National Bank?

Valley National Bank has approximately $57 billion in assets.

In which states does Valley National Bank operate?

Valley National Bank operates in New Jersey, New York, Florida, and Alabama.