PortX, the AI-powered data integration platform built for banks and credit unions, has announced a major milestone: the close of a strategic growth round backed by Allied Solutions and the American Bankers Association (ABA). Existing investors, including BankTech Ventures, Curql Collective, and BTech Consortium, also participated, reflecting ongoing confidence in PortX’s vision and momentum in the financial technology space.
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“We’re truly honored that the financial industry continues to believe in the work we’re doing,” said David Wexler, CEO of PortX. “Our existing investors’ continued support is inspiring, and the involvement of Allied Solutions and the ABA shows the trust in the value our platform brings to banks and credit unions.”
For Allied Solutions, a leading provider of insurance, lending, and risk management services to financial institutions, the investment deepens a technology partnership that reaches more than 6,000 clients. Pete Hilger, CEO of Allied Solutions, said, “We’re committed to investing in tools that modernize our business and simplify the experience for our clients. PortX provides the innovative technology we need to deliver fast, secure, and reliable integrations.” After evaluating multiple approaches, Allied selected PortX as its foundation for core connectivity and plans to work closely with clients over the coming years on migration to the platform.
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The ABA’s investment builds on its 2023 evaluation of banking middleware solutions and aims to help banks embrace faster, more flexible ways to deliver products and services. Rob Nichols, ABA President and CEO, commented, “Fintech partnerships with companies like PortX are essential to driving innovation in banking. Our investment helps get this technology into the hands of banks sooner.” Brooke Ybarra, Senior VP of Innovation at ABA, added, “PortX is well-positioned to become a leader in banking integration. Bankers across the country consistently praise its ability to deliver solutions that are both robust and scalable.”
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With this round of funding, PortX is poised to accelerate its mission of making AI-driven, secure, and seamless integration solutions a reality for banks and credit unions nationwide, helping financial institutions modernize, reduce complexity, and stay competitive.
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