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 boost its account opening providers.
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 carry digital account opening providers to the shoppers of the Baltimore, Maryland-based monetary establishment.
Based in 1982 with $2.1 million in belongings, 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 presents all kinds of banking providers, together with checking, financial savings, time deposits, credit score and debit playing cards, and industrial actual property, in addition to private, residence enchancment, and different installment and time period loans. With complete belongings of $377 million, Harbor Financial institution of Maryland is a chosen Minority Depository Establishment (MDI) and the primary group financial institution within the U.S. to have an funding subsidiary, Harbor Monetary Providers.
San Francisco, California-based Prelim made its Finovate debut at FinovateSpring in 2022 and returned once more the next yr for FinovateSpring 2023. Co-founded in 2017 by Heang Chan (CEO) and Chris Blaser (CTO), Prelim presents 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 occasion suppliers to fulfill AML, BSA, and CIP necessities. The platform additionally helps FIs launch different monetary providers and banking merchandise from lending to service provider providers.
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 staff of African American docs, lecturers, farmers, and preachers. From humble origins in a church basement and $6,500 in capital, the monetary establishment has grown into a significant group useful resource. The financial institution was among the many first to reopen throughout the Nice Despair after banks have been pressured to shut. The establishment was additionally one of many first banks in Virginia to problem Federal Housing Administration (FHA) loans again in 1934. Motion Financial institution presently has $150 million in complete belongings.
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Photograph by Tranise Foster
