First Data and Live Oak Bancshares have announced they have closed the digital banking joint venture that was announced earlier this year. The company, named Apiture, combines First Data’s and Live Oak Bank’s digital banking platforms, products, and services, delivering innovative technology solutions tailored for financial institutions.
Apiture’s digital banking solutions include online and mobile platforms that allow businesses and consumers to manage digital bill payments, balance inquiries, fund transfers, mobile check deposits, and more. With these solutions and services, financial institutions can provide customised online banking websites and mobile applications to their customers in a cost-effective way. First Data and Live Oak Bancshares each own 50% of Apiture.