Meed, the Santa Monica-based fintech, today announced the U.S. launch of its disruptive mobile banking program together with Valley National Bank of Tulsa, Oklahoma (VNB). SAP Banking Services is the core banking software for the venture and the full integration program will be handled by Axxiome through its digitalization platform, Axxiome Digital.
Meed’s innovative business model revolutionizes the marketing, delivery and consumption of financial services for digital consumers, and is designed to deliver differentiation, competitive advantage and significant incremental growth for Valley National Bank.
The Meed solution is turn-key, and Axxiome is able to run the full integration program without disrupting VNB’s day-to-day operations or adding to its IT staff or workload. The partnership will leverage Axxiome Digital, a digitalization platform designed specifically to enable banks to integrate seamlessly with FinTechs. System agnostic for improved flexibility and scalability, it will be integrated into SAP system for the launch. “Bringing the Meed Platform to life in collaboration with SAP and Valley National Bank is a great example of how new business models are changing the banking industry,” said Michael Mauk, CEO at Axxiome. “Banks working together with fintechs in this manner will change and revitalize traditional ways of banking.”