Red Hat’s cloud platform OpenShift will now host digital solutions for digital banking service provider SBS, according to a Dec. 12 SBS release. 

Through Red Hat’s OpenShift, banks and financial institutions can “benefit from cloud technologies within their existing infrastructures that have been built in compliance with strict regulations around data privacy and security,” Xavier Rebeuf, chief product and technology officer at SBS, told Bank Automation News. 

SBS online and digital mobile banking solutions are now available through a hybrid cloud infrastructure to offer banks “the flexibility and scalability they want while also addressing their security and compliance needs,” Rebeuf said.

“We’ve already launched our digital banking suite (engagement for onboarding and daily banking) on OpenShift and are looking into opportunities to offer additional products, like core banking, on Red Hat OpenShift in the future,” Rebeuf said. 

Credit Suisse, Bank of Africa and Societe Generale are among SBS’ clients, according to the company. 

Red River Bank looks to Allied Payments for real-time payments 

Alexandria, La.-based Red River Bank has tapped Allied Payments to provide its customers with real-time payment capabilities, according to a Dec. 5 Allied Payments release. 

The $3 billion bank will integrate Allied’s real-time payments solution via fintech Q2’s digital banking platform to provide customers with easy access to payments services, the release said. 

Red River Bank will not join The Clearing House or FedNow payments rails and will instead use Allied Payment’s internal real-time payments network, an Allied Payments spokesperson told BAN, adding that smaller FIs “appreciate having access to real-time payments through our existing network without having to jump into a commitment to FedNow or RTP” due to those rails’ “wait and see” approach.” 

Customers at smaller FIs who are living paycheck to paycheck want to hold onto their funds as long as possible before making bill payments. This drives the demand for real-time payments higher among such segments, the spokesperson said. 

Mesh Payments, SoFi, Galileo join forces to enhance global travel, expense management  

New York-based expense management firm Mesh Payments on Dec. 12 announced a technology partnership with $34.4 billion online financial services company SoFi and SoFi-owned fintech Galileo Financial Technologies. 

The collaboration involves integrating Mesh’s expense and card infrastructure with SoFi’s scalable financial framework and Galileo’s API-based payment processing platform, according to the announcement. 

Under the partnership, Mesh said it aims to streamline enterprise expense management and reduce inefficiencies associated with fintechs using separate providers for banking and payments infrastructure, according to the announcement. 

Mesh’s clients include: 

• Minneapolis-based fintech Sezzle; 

• Israel-based fraud prevention company Riskified; and 

• Alexandria, Va.-based campaign finance management company Election CFO. 

Level1Analytics upgrades dashboard 

Bolstered by its April merger with technology services firm Intraprise Solutions, financial software provider Level1Analytics on Dec. 10 announced a dashboard to deliver data to clients in the mortgage servicing sector.  

Specific clients were not disclosed, but Laura Roberto, vice president of business development and digital engagement at Intraprise Solutions, told BAN that Level1 caters to some of the largest banks in addition to: 

• Small banks; 

• Mortgage banks; 

• Insurance companies; 

• Government institutions; and 

• Servicers. 

Clients are looking for quick turnaround time for decision-making data to assist in bookkeeping and loan analysis, Roberto said, adding that before the new dashboard, Level1 averaged a 1.5-day turnaround compared with an industry average of one to two weeks. 

Level1 expects the dashboard to enable instant data results, she said. “We have always valued the quick delivery of results, but our merger with Intraprise gave us the flexibility to automate an extremely complex process.” 

In addition to delivering instant financial reports, the dashboard offers data migration, integrity checking and loan transfers. 

TAPCO Credit Union launches digital banking solution with Lumin Digital 

Tacoma, Wash.-based, $659.2 million TAPCO Credit Union on Dec. 16 announced the launch of a digital banking solution through its partnership with cloud-based digital banking firm Lumin Digital. 

The fully integrated platform includes non-disruptive weekly updates and enhanced fraud detection. 

Lumin Digital on Dec. 2 announced it secured more than $160 million in growth funding, which the company said it plans to use toward innovation in the financial technology sector. 

Lumin clients include $4.2 billion Affinity Plus Federal Credit Union, $3.5 billion Consumers Credit Union and $1.7 billion Interra Credit Union, according to Lumin’s website. 

Grasshopper selects EnFi for AI-driven decisioning 

Digital bank Grasshopper Bank announced in November that it had selected AI-driven risk management decisioning and monitoring platform EnFi to streamline credit decision-making.  

“Transitioning from reactive to proactive loan monitoring enhances efficiency in portfolio management, enabling teams to handle larger and more complex loan volumes while reducing manual and redundant tasks,” Russell Jacobson, head of credit administration at $835 million Grasshopper, told BAN.  

EnFi uses real-time data aggregation and advanced analytics to help financial institutions make lending decisions based on its AI-driven risk analysis, according to Grasshopper’s November release. 

Visit Bank Automation News’ Transactions Dashboard, which lists the technology selected or acquired by companies in the financial services industry, with a focus on technology that enhances automation.    

Register here for early-bird pricing for Bank Automation Summit 2025, taking place March 3-4 in Nashville, Tenn. View the full event agenda here.