Once upon a time, people in the United States relied on physical financial institutions within their communities to meet their banking needs.
The 20th century changed everything about this model. Computers, fiber optics, the internet and deregulation led to the rise of enormous institutions with global reach. Analog became digital. One-size-fits-all became customization. And customer loyalty became a fond memory.
Competition for deposits grew fierce. A financial crisis accelerated consolidation and afterward, tech companies offered unparalleled experiences and innovative digital products tailored to customers' needs.
Success was only ensured with a billion dollar tech budget. Massive digital transformations became the norm. Smaller institutions found success focusing elsewhere, mainly on customer relationships. Banking divided into the haves (big banks) and the have-nots (everyone else).
Meanwhile, cost-to-serve remained stubbornly high, the quality of digital products plateaued and structural flaws in America's digital banking infrastructure persisted.
That is, until 2017.
That's the year our founder and our CEO began to realize a dream - a way to level the playing field and bring banking access to more people and more communities. Using innovative compliance and operations processes and unbundled components of banking technology integrated with proprietary technology in a cloud-native architecture, BrightFi Services was created to deliver 100% digital banking products faster and cheaper than ever before.
We lower cost to serve, accelerate digital transformations and empower smaller institutions to 'punch above their weight'.
Our platform is secure, configurable, comprehensive and self-contained. There's no wasted time and money negotiating with other vendors to provide features you want to add to your digital solution.
We do it all for you - and it's included in the price. We also ensure seamless upgrades between any provider in our stack, using only technologies and services proven in regulatory environments.
We believe communities thrive when they have access to thriving financial institutions that know them. As we continue to grow, our solution will help banks and credit unions across the country do the same.