Today, digital banking innovator Tyfone, Inc., announced a major transaction that includes a significant investment from Demopolis Equity Partners and a merger with digital banking provider Cubus Solutions, resulting in the combined entity operating under the Tyfone brand.
This move will accelerate the adoption of the company's nFinia® digital banking platform by a wider range of community financial institutions and extend digital offerings that will bring in revenues and efficiencies to these institutions, thanks to the addition of Cubus' customers, digital solutions, and expertise.
“Today success in digital banking - in fact, success in any financial technology - is all about engaged digital experiences and the ability to scale,” said Tyfone CEO Dr. Siva Narendra. “That means scaling up to power digital growth for larger institutions and scaling down to facilitate the smaller ones stay relevant.” He added that the company has already built a great foundation of market leading software for credit unions and community banks with passionate people. Now, with additional capital and the merger, more community financial institutions will be able to leverage that foundation.
“It is rare to find two companies so culturally well-aligned that also complement each other technologically,” said Cubus CEO John-Ashley Paul. “The team at Cubus is thrilled to be joining the Tyfone family. Our best-of-breed loan payments, loan skips, e-statements, and rewards solutions will extend the Tyfone digital banking ecosystem, leading to tighter integration and a truly exceptional user experience.” He noted that both companies have established industry-wide reputations for customer service, integrity, and transparency.
“We are excited to partner with Tyfone to build an industry leader in the digital banking space. Siva and his team at Tyfone have built a true best-in-class product and offer the highest level of service in the industry, while John and his Cubus team have established a solid, multi-faceted business with a reputation for excellence,” said Tim Greenfield, Managing Partner at Demopolis Equity Partners. “We believe that the combined organization is well-positioned to lead the next wave of innovation in the community banking sector.”