Following the completion of private equity firm One Equity Partners’ acquisition of payments software provider ACI Worldwide’s corporate online banking business, Dragonfly Financial Technologies, a digital banking and treasury management FinTech startup, has been founded as an independent company.
According to a press release, Dragonfly will expand its product range, hire additional employees, and target more U.S. and overseas commercial banking customers, in addition to the more than 40 banking and financial services firms it now serves.
“Our customers widely recognize our products as providing a tremendous level of innovation and value to their businesses through our features, user experience, and hundreds of API integrations — and now we have the independence, focus, and investment to accelerate our product roadmap and strengthen our overall customer experience.”
One Equity Partners announced in June that it will purchase ACI Worldwide’s corporate online banking arm, formerly known as Digital Business Banking Solutions, claiming that the API-driven solution for banking organizations allows blue chip banks to handle “over $1 billion in daily payments.”
The acquisition occurred at a time when the US online commercial banking sector is seeing increased demand for API-driven automated digital banking and treasury management solutions, with more banks adopting cloud-based IT ecosystems to boost functionality, reduce costs, leverage API-based integration, and increase vendor interoperability.
The press release announcing Dragonfly’s independent debut on September 1 claimed that it will invest in improving its cloud-based digital business banking platform.
“Dragonflies are admired throughout cultures for their agility, exceptional vision, and as symbols of power, transformation, and prosperity,” Roets said in the announcement, “therefore it is a natural name for our firm, as we combine the enthusiasm, innovation, and drive of a startup with the enormous client base and resources of an established growing company.”
