Feb. 14, 2023 — CAMBRIDGE, Mass. Sandbox Banking has completed a strategic investment led by Horizon Ventures, a fintech developing a low-code integration platform for banking, increasing the company’s total funding to USD 6M. Investors Forum Ventures, SixThirty, and Tuesday Capital are involved. With the help of pre-made API adapters and solution templates, banks and credit unions may quickly link their existing systems to fintech partners utilizing the company’s GlyueTM platform. Over 70 financial institutions in the US and Canada currently benefit from Sandbox Banking’s ground-breaking API builder platform, including Bank Newport, Silicon Valley Bank, United Bank, Choice Financial, and Service Credit Union.
The pre-existing adapter catalogs for the Glyue platform, which supply integration and support capabilities across crucial client systems, are praised by sales teams at financial partners, including nCino, FIS, and Five9. Additionally, Glyue’s solution template catalog’s self-service capabilities for bank personnel is a big hit with fintech partners since it shortens implementation lead times. The 2023 vision for Sandbox Banking calls for further integrations into some of the biggest global fintech firms. Sandbox Banking will utilize this money to speed up recruiting for new product development and solution delivery capabilities.
Sandbox Banking CEO Ravi Balasubramanian:
“A lack of flexibility beyond cookie-cutter connectors, lack of flexible support for future modifications depending on user behavior, and concerns about incompatible systems have historically hampered the infrastructure and product architecture needed to combine basic banking and fintech services. This procedure is now smoother and more effective because of Glyue, which will also power the upcoming generation of integrated digital banking systems that enable fintech for society. We are happy to have Horizon Ventures and Tuesday on board as investors and strategic advisers. They are two industry experts in discovering platform solutions that alter industries.”
According to John Sullivan, CIO of Bank Newport, “a large amount of work is being eased off of the team with the introduction of this integration utilizing Glyue, which is a big victory for garnering buy-in and engagement linked to our broader transformation initiatives.” “Sandbox allows Bank Newport’s own IT teams to concentrate on meeting the requirements of our customers, knowing they have a technology partner in Sandbox Banking,” says Bank Newport.
“The finest financial infrastructure startup I’ve seen in a while is Sandbox. Sandbox is prepared to accomplish with financial integrations what Stripe achieved for accessibility. They are the “Glyue” – no pun intended – needed to link the banking industry to the fintech advancements needed to compete over the following ten years, “said Patrick Gallagher, Tuesday Capital’s co-founder and managing partner.
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