Dragonfly Financial Technologies, a digital banking and treasury management FinTech startup, has been established as an independent company following the conclusion of private equity firm One Equity Partners’ acquisition of payments software provider ACI Worldwide’s corporate online banking arm.
According to a news statement, Dragonfly will add innovations to its product line, grow its staff, and target more U.S. and foreign commercial banking customers, in addition to the more than 40 banking and financial services companies it now serves.
“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 bolster our overall customer success experience,” Dragonfly CEO Johan Roets said in a statement.
In June, One Equity Partners decided to buy ACI Worldwide’s corporate online banking arm, formerly known as Digital Business Banking Solutions, saying that the API-driven solution for banking organizations allows blue chip banks to process “over $1 billion in daily payments.”
The acquisition occurred at a time when the online commercial banking sector in the United States 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 announcement announcing Dragonfly’s independent debut on September 1 stated that it will spend in enhancing its cloud-based digital business banking platform.
“Dragonflies are revered across cultures for their agility, excellent vision, and as symbols of strength, transformation, and prosperity,” Roets said in the release, “so it is a fitting name for our company, as we combine the passion, ingenuity, and drive of with the large customer base and resources of an established growth company.”