Courtesy of San Francisco, California-based fintech Prelim, community banks and credit unions will have new tools to connect with enabling technologies and systems to enhance their offerings to their customers and members. A specialist automating the customer experience for financial institutions of all sizes, Prelim has unveiled a new proprietary framework technology that, with a single line of code, will enable smaller FIs to connect their core systems with mobile and commercial banking, digital account opening, and treasury management solutions.
“We enable community FIs to more effectively compete in the marketplace by providing a modern, efficient customer journey by leveraging the easy-to-use API connectors,” Prelim founder and CEO Heang Chan said. In a statement, Chan highlighted the operational and resource challenges that most community banks and credit unions must overcome in order to provide the same high-level of digital customer service as their larger, more tech-savvy rivals. “By distilling system interfaces down to a single line of code, we are bringing a new level of accessibility, control, and convenience to financial institutions as they implement their digital roadmaps,” Chan explained.
Founded in 2017, Prelim has raised $2.1 million in seed funding from investors including S2 Capital, Fuel Capital, and Liquid 2 Ventures – as well as angel investor Max Altman and Flexport founder and CEO Ryan Petersen. A Y Combinator alum, Prelim unveiled enhanced digital account opening functionalities for business banking accounts in May, as well as a Status Center tool to make it easier for financial institutions to collect and manage business client data to facilitate pre-approvals and small business loan applications. The company unveiled its enhanced capabilities to support treasury origination and management services in June.
Prelim includes Pacific Western Bank, Climate First Bank, and Advantage Credit among its customers. The company says that some of the biggest banks in the country use its white-labeled, low-code/no-code technology to automate and enhance the digital experience.
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