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The Harbor Financial institution of Maryland has partnered with digital account onboarding specialist Prelim.
Courtesy of the partnership, the Baltimore, Maryland-based monetary establishment will leverage Prelim’s expertise and experience to reinforce its account opening companies.
Headquartered in San Francisco, California, Prelim made its Finovate debut at FinovateSpring 2022.
Digital account onboarding specialist Prelim and the Harbor Financial institution of Maryland have teamed as much as deliver digital account opening companies to the purchasers of the Baltimore, Maryland-based monetary establishment.
Based in 1982 with $2.1 million in property, Harbor Financial institution of Maryland serves the Baltimore, Maryland metropolitan space with seven department areas and a mortgage workplace in Silver Spring, Maryland. The financial institution affords all kinds of banking companies, together with checking, financial savings, time deposits, credit score and debit playing cards, and industrial actual property, in addition to private, dwelling enchancment, and different installment and time period loans. With complete property of $377 million, Harbor Financial institution of Maryland is a delegated Minority Depository Establishment (MDI) and the primary group financial institution within the U.S. to have an funding subsidiary, Harbor Monetary Companies.
San Francisco, California-based Prelim made its Finovate debut at FinovateSpring in 2022 and returned once more the next 12 months for FinovateSpring 2023. Co-founded in 2017 by Heang Chan (CEO) and Chris Blaser (CTO), Prelim affords a white-label platform that empowers banks to digitize their enterprise banking operations. Through API, Prelim permits monetary establishments to automate their enterprise account onboarding, in addition to join to 3rd social gathering suppliers to fulfill AML, BSA, and CIP necessities. The platform additionally helps FIs launch different monetary companies and banking merchandise from lending to service provider companies.
Along with its partnership with the Harbor Financial institution of Maryland, Prelim final month introduced a collaboration with Motion Financial institution. Headquartered in Danville, Virginia, Motion Financial institution was launched in 1919 by a workforce of African American medical doctors, academics, farmers, and preachers. From humble origins in a church basement and $6,500 in capital, the monetary establishment has grown into a serious group useful resource. The financial institution was among the many first to reopen in the course of the Nice Melancholy after banks have been compelled to shut. The establishment was additionally one of many first banks in Virginia to difficulty Federal Housing Administration (FHA) loans again in 1934. Motion Financial institution at present has $150 million in complete property.
Involved in demoing at FinovateSpring in San Francisco in Could? We’re blissful to learn functions from revolutionary corporations with new options which are prepared to point out. Go to our FinovateSpring hub right now to study extra.
Photograph by Tranise Foster
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