- Digital banking solutions company Tyfone has secured a “significant investment” from Demopolis Equity Partners.
- The Portland, Oregon-based company also announced a merger with digital banking provider Cubus Solutions.
- Tyfone made its Finovate debut in 2008 at FinovateSpring.
Digital banking solutions company Tyfone hit the fintech headlines with a pair of big announcements in recent days. First, the company has received a significant investment from Demopolis Equity Partners. The amount of the funding was not disclosed.
Tyfone is also announcing that it has merged with digital banking provider Cubus Solutions. The two companies will move forward under the Tyfone brand. The investment and merger are designed to help accelerate the adoption of Tyfone’s nFinia digital banking platform. The addition of Cubus’ customers, digital solutions, and expertise will help the combined entity better serve financial institutions, helping them boost revenues and efficiency.
“Today success in digital banking – in fact, success in any financial technology – is all about engaged digital experiences and the ability to scale,” Tyfone CEO Dr. Siva Narendra said. “That means scaling up to power digital growth for larger institutions and scaling down to facilitate the smaller ones (to) stay relevant.”
Cubus CEO John-Ashley Paul added: “It is rare to find two companies so culturally well-aligned that also complement each other technologically. Our best-of-breed loan payments, loan skips, e-statements, and rewards solutions will extend the Tyfone digital banking ecosystem, leading to tighter integration and a truly exceptional user experience.”
Tyfone demoed its technology at FinovateSpring in 2008. In the years since, the Portland, Oregon-based company has grown into a provider of market-leading software for credit unions and community banks. This year, Tyfone has announced partnerships with Southwest Financial, a Texas based financial institution with 9,200 members and $81 million in assets; and with Members Advantage Credit Union, a credit union based in Wisconsin Rapids with 11,000 members and $178 million in assets.
Photo by Ruvim Miksanskiy