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Regalii Launches "Center" to Help Financial Institutions Become Nucleus of Consumers' Financial Lives

NEW YORK, NY - Today Regalii, a technology platform for financial institutions, announced the release of a new iFrame that will help solve financial institutions' rising attrition rates by providing consumers with a convenient and elegant one-stop financial hub. Financial institutions that integrate with Regalii's API suite through "Center" will be able to provide consumers new services while gaining access to their financial obligations (i.e. utilities, cell phones, loans, credit cards, subscriptions). The improved user experience will give consumers more control over their finances through aggregation (a bird's eye view of all their financial obligations) and automation (automatic updates to cards/address/settings across all billers in one click). The new feature allows financial institutions to become the center of their consumers' financial lives.

The Regalii API solves two key problems in the financial services industry: antiquated tech and fragmentation. Fewer and fewer people who pay bills online meet these financial obligations through their bank - in the past six years, that number was estimated to decrease from 38 percent to 26.4 percent according to a study by ACI Worldwide and Aite Group. That's largely because banks currently rely on outdated methods (core banking and web scraping) to access consumer data, which are fragile and can delay bill payments for up to three days. Consumers pay bills through merchants or use fintech, which fragments their financial lives across different platforms.

"Because consumers today favor convenience over loyalty, banks are losing digital business to fintech competitors while simultaneously fintench is having trouble breaking the stronghold of traditional banking. The fact that consumers can access all their financials easily and securely through their primary financial institution via the Regalii API makes loyalty to a single financial institution possible again."

Regalii is a fintech company that offers a nextgen API suite of tools for consumer finance. Regalii enables the world's leading financial institutions in banking, remittances, and mobile wallets to leverage its platform to help everyone, everywhere pay their bills with the most innovative, efficient, and cost-effective services. Based in New York City and Mexico, Regalii is funded by Maverick Capital, HOF Capital, Kapor Capital, Initialized Capital, and other leading technology investors. For more information, visit regalii.com.

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