NEWS
Andrews Federal Credit Union partners with Blend to implement omnichannel deposit account opening solution
Blend , a leading provider of digital banking solutions , has partnered with Andrews Federal Credit Union , the fourth largest credit union in Maryland with $ 2.6 billion in assets , to streamline deposit account opening for members .
“ We saw an opportunity to enhance member engagement and streamline the overall application process ,” said Marco Alvarez , SVP , Chief Retail Officer , Andrews Federal Credit Union .
“ Our partnership with Blend is a major step towards offering a true endto-end digital account opening solution that empowers our members to make informed financial decisions .”
“ With Blend ’ s deposit account solution , Andrews Federal can now meet their members wherever they are – whether in-branch , online or over the phone .
“ We ’ re thrilled to partner with Andrews Federal and look forward to creating a significantly enhanced experience for their members .”
In addition to its deposit account opening solution , Blend ’ s unified platform includes a range of best-in-class digital experiences including consumer loans , home equity and mortgages .
As part of the partnership , Andrews Credit Union plans to leverage the robust features that are built into Blend ’ s deposit account solution . This includes a seamless , omnichannel application experience , counteroffer and multiple funding options that drive account conversion , IDV automation to manage risk levels , as well as Banker Workspace tools that help bankers focus on deepening member relationships .
“ Providing a seamless , omnichannel application experience was crucial for Andrews Federal ,” said Brian Kneafsey , Head of Revenue , Blend .
Infinite Reality closes $ 350 million investment – and acquires Landvault in $ 450 million deal – as valuation soars to $ 5.1 billion
Infinite Reality ( iR ) has announced a $ 350 million minority investment from a private multi-family office focused on global technology , media and real estate , elevating the Company ’ s valuation to $ 5.1 billion .
Additionally , iR announced the $ 450 million acquisition of Landvault , a tech company specializing in immersive technology and digital twins for Fortune 500 companies and government organizations .
This investment , entirely in equity and not debt , is new and separate from iR ' s goal to complete the previously announced SPAC transaction . The $ 350 million will be deployed immediately to accelerate growth .
" Having joined forces with Landvault and secured this $ 350 million fundraise , we possess robust capitalization , financial flexibility , and a fortified position from which to successfully execute our global go-to-market strategy ," said John Acunto , co-founder and CEO , Infinite Reality .
Following the acquisition , Landvault ' s existing employees and creative teams will join the iR team , ensuring continuity and the retention of top talent .
“ Joining forces with Infinite Reality allows us to leverage their extensive resources and expertise to scale our vision to build the future of the internet even further ,” said Sam Huber , Founder and CEO , Landvault .
The acquisition also includes Landvault ’ s innovative tools , such as the ability to offer local and custom hosting solutions to its clients , empowering business owners to capture and manage unique first party data and giving them direct control . p
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