Prelim, a fintech company based in Silicon Valley, has announced a partnership with Vantage Bank, to improve digital onboarding for the latter’s individual and business clients.
Vantage Bank is a community bank in Texas with assets of $4.4bn.
Through this partnership, Vantage Bank will implement Prelim’s onboarding platform. This integration is intended to streamline the account opening process for both consumers and businesses.
The new system will replace traditional in-branch methods and enhance the bank’s online services.
Vantage Bank executive vice president and chief business architect Shawn Main said: “This partnership underscores our commitment to delivering a best-in-class customer experience while strengthening our deposit base and deepening relationships with our clients.
“By integrating Prelim’s technology with our Fiserv Premier Core, we are not only optimising efficiency but also fortifying our approach to fraud prevention and risk management. This is a transformative step in our digital evolution.”
Vantage Bank has an internal team of developers focused on banking technology. The decision to use Prelim’s deposit origination platform aligns with the bank’s strategic emphasis on innovation and operational efficiency.
Prelim provides onboarding solutions for consumer deposit accounts, business deposit accounts, and treasury services. Its technology helps financial institutions digitise customer interactions from the initial stage through ongoing service, automating processes like identity verification and service issuance.
Headquartered in San Antonio, Vantage Bank operates full-service centres in areas including Dallas-Fort Worth, El Paso, Houston, Laredo, the Rio Grande Valley, and San Antonio, with plans to expand further into Dallas.
This move places Vantage Bank among other Texas-based banks such as Stellar Bank, Jefferson Bank, and United Texas Bank that have adopted Prelim’s technology over the past year.
Prelim co-founder and CEO Heang Chan said: “At Prelim, we are highly selective in choosing financial institutions to partner with because our success hinges on collaborating with partners that are committed to delivering exceptional customer experiences.
“As we surpass 100 customers nationwide without marketing spend, our growth continues to be fuelled by strong retention and word-of-mouth from forward-thinking partners like Vantage Bank.”
