Braid provides community banks with a cloud-based platform that integrates with existing core banking systems to enable digital payment services, including ACH, wire transfers, and card issuance. This technology allows banks to generate new revenue streams and compete effectively against larger financial institutions and fintech companies.
Funding
Funding not disclosed
Founders
Product
Problem
Community banks face increasing competition from larger financial institutions and fintech companies, struggling to offer the same level of digital payment services due to outdated core banking systems and limited resources. This can lead to customer attrition and missed opportunities for new revenue streams.
Solution
Braid provides community banks with a cloud-based platform that augments their existing core banking systems, enabling them to offer modern digital payment services and compete effectively in the fintech landscape. The platform supports a range of payment functionalities, including ACH, wire transfers, card issuance, and real-time payments, allowing banks to transform into digital payment hubs. Braid's solution offers a flexible ledger system, digital onboarding with KYC/KYB screening, and virtual account management, all while ensuring compliance with industry regulations. By leveraging Braid, community banks can unlock their existing expertise and infrastructure to drive revenue growth and attract tech-savvy customers.
Target Audience
Braid primarily targets community banks and credit unions seeking to modernize their payment infrastructure and compete with larger financial institutions and fintech companies.
Features
- Cloud-based platform that integrates with existing core banking systems
- Supports ACH, wire transfers, card issuance, RTP, and FedNow payments
- Digital onboarding module with KYC, KYB, and UBO screening via API or hosted page
- Multi-layered ledger for managing customer balances, transaction processing, and reconciliation
- Virtual account creation and management for customers or wholesale clearing and settlement
- Compliance tools for PCI DSS, NACHA, BSA/AML, and OFAC
- Real-time cross-border transaction monitoring with AI-powered anomaly detection
- Dual approval workflows for critical banking operations and fintech configurations