Riverwood Capital to disrupt banking industry with Technisys investment

Digital banking software provider Technisys has raised $50m in a Series C round led by Riverwood Capital.

The US-based private equity firm joins existing investors including Alta Ventures, Kaszek Ventures, Oria Capital and Endeavor Catalyst.

The tech company provides software which allows banks to improve their customer experience, increase sales and reduce time-to-market when launching new financial services products.

Technisys’s Cyberbank Digital platform includes a cloud-ready API which is configurable and consistent across digital platforms. The Cyberbank Core platform also features a cloud-ready API designed for digitally native banks. Both solutions utilise machine learning and other artificial intelligence technologies.

Technisys’s products are used by over 50 companies including ATB, HSBC, Banco Itaú, Banco Falabella, Banco Macro, Banco Original, Davivienda, Diners Club and Veloe by Elopar.

The business has planned to use the new funding to expand its product portfolio and global outreach to new markets such as Europe.

“We are humbled by the trust our customers place in us, and excited by the massive global opportunity ahead to continually provide the building blocks necessary to win in this rapidly changing market,” said Technisys CEO and founder of Miguel Santos.

“Banks will need to differentiate through their customer experience, offering a holistic service that is device agnostic, achieving the best time-to-market when launching new services and anticipating their customer needs.”

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