ABA Announces New Investment in Data Integration Platform PortX

WASHINGTON — The American Bankers Association today announced a new investment in PortX, the AI-powered data integration platform built for community banks and credit unions that addresses the growing need for digital transformation in the financial services sector. PortX aligns with the banking industry’s digital push by helping institutions modernize operations and deliver better customer experiences. Its scalable platform reduces reliance on legacy systems, accelerates innovation and supports partnerships with fintechs.

“To stay competitive, banks must embrace faster, more flexible ways to deliver products and services,” said ABA President and CEO Rob Nichols. “Fintech partnerships with companies like PortX are essential to driving innovation in banking, and our investment will get this technology in the hands of banks even sooner.”

In this new era of financial services, bank customers expect fast, personalized and smooth digital experiences. To meet this expectation, banks need better tools to offer the latest technology, but many banks still rely on legacy systems that aren’t flexible or modern enough to meet these needs. Middleware technology like that offered by PortX helps solve this problem by connecting older systems with new digital tools, making it easier for banks to improve services and work more efficiently.

“With the right integration framework and AI-powered data tools, banks can move faster and compete on equal footing,” said David Wexler, CEO of PortX. “Our alignment with ABA reinforces that the industry is continuing to evolve. Financial institutions of all sizes are embracing open, connected data as the foundation for innovation and long-term success in the industry.”

During the course of ABA’s recent research in middleware providers — which resulted in two reports, Exploring Banking Middleware Solutions and the Middleware Product Assessment — PortX stood out as a top data integration provider for banks. Over time, it became the most mentioned and recommended platform in conversations with bankers.

“PortX is well-positioned to establish itself as a leader in banking integration, offering a robust, scalable solution with strong capabilities,” said Brooke Ybarra, senior vice president of innovation at ABA. “We’ve heard nothing but praise from bankers across the country for PortX’s ability to deliver and execute effectively.”

PortX differentiates itself by focusing specifically on the financial services industry, offering tailored solutions for its needs. The company’s easy-to-use platform — with prebuilt connections to more than 35 core platform providers and a no-code interface — makes integration simple, even for teams with limited technical resources.

PortX is just the latest investment by ABA in emerging companies that hold potential to help America’s banks innovate and solve operational challenges today and into the future. All of ABA’s venture investments are reviewed and approved by ABA’s banker-led Venture Investment Committee. Specific terms of the investment are proprietary.

Learn more about PortX at portx.io.

Read more about ABA’s other investments.

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About the American Bankers Association

The American Bankers Association is the voice of the nation’s $25 trillion banking industry, which is composed of small, regional and large banks that together employ approximately 2.1 million people, safeguard $19.7 trillion in deposits and extend $13.1 trillion in loans.

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