Banking tech vendor FIS invests in partner Zenmonics
Core banking specialist Zenmonics has landed funding from its long-time partner FIS, writes Julie Muhn at Finovate.
The amount of the minority investment and other terms of the agreement were undisclosed.
This marks Zenmonics’ first round of funding; prior to the closing of this week’s investment Zenmonics was 100% company-owned.
The North Carolina-based company will use the funds to further its growth and burgeon capabilities of its channelUnited platform. Riaz Syed, founder and CEO of Zenmonics, saysthat the investment enables the company “to grow innovation and delivery capacity for our current clients, while also extending our reach in the market”.
Aimed to offer a consistent user experience across multiple channels, Zenmonics’ channelUnited is an omnichannel solution that adapts and expands to each individual banks’ pace. The system places clients and associates on a common system to unify digital, sales, service, origination, and teller platforms.
Founded in 2007, Zenmonics has more than 200 employees.