An expert delivering a fully integrated API-centric financial technology platform that reinvents how people connect with their money: Technisys

In the rapidly evolving landscape of financial technology, few companies have made as significant an impact as Technisys. Founded in 1995 by Argentine entrepreneur Miguel Santos, Technisys has emerged as a trailblazer in digital banking solutions, offering innovative platforms that empower financial institutions to deliver exceptional customer experiences. With its flagship product, Cyberbank, the company has transformed the way banks and fintechs operate, enabling them to stay ahead in a competitive market.

Miguel Santos envisioned a future where banking would transcend traditional brick-and-mortar establishments, embracing digital transformation to meet the evolving needs of consumers. This foresight led to the creation of Technisys, a company dedicated to developing software solutions that facilitate seamless digital banking experiences. Over the years, Technisys has expanded its reach, serving over 100 million banking customers across 16 countries.

The Cyberbank Platform: Redefining Digital Banking

At the heart of Technisys's success is its Cyberbank platform, a next-generation core banking system designed to adapt to modern customer behaviors. Cyberbank offers financial institutions the agility to dynamically change end-to-end product definitions, allowing them to tailor services to individual customer needs. This flexibility is crucial in today's market, where personalization is key to customer satisfaction.

Cyberbank is divided into two main components:

1. Cyberbank Core: This module enables institutions to create and refine products and services dynamically, encompassing modern offerings such as deposits, loans, and payments.

2. Cyberbank Digital: This component allows for the creation of digital ecosystems, facilitating the development of exceptional, empathetic digital experiences for customers.

The platform's architecture supports banks, neobanks, challenger banks, and fintech companies in launching comprehensive digital experiences across every touchpoint. By focusing on mobile-first solutions, Cyberbank enables institutions to create unique user experiences without the need to write code from scratch, saving both time and resources.

Strategic Acquisition by SoFi Technologies

In a move that underscores Technisys's value in the fintech ecosystem, SoFi Technologies announced its acquisition of the company for approximately $1.1 billion in February 2022. This strategic acquisition aims to bolster SoFi's ambition to provide best-of-breed products as a one-stop-shop financial services platform. The integration of Technisys with SoFi's earlier acquisition, Galileo, is expected to create a vertically integrated banking technology stack, offering a comprehensive suite of services from user interface development to customizable multi-product banking cores.

Anthony Noto, CEO of SoFi, highlighted the significance of this acquisition, stating, "Technisys has built an attractive and fast-growing company with a unique and strategic technology that all leading financial services companies need to keep pace with digital innovation."

Recognition and Industry Impact

Technisys's innovative approach has not gone unnoticed. The company has been recognized by Gartner as one of the top three disruptors in the core banking space and named by Forbes as one of the top four emerging core banking platform providers. Celent described Technisys as "a true digital specialist player," and the company ranked highest in Forrester Wave™ for Architecture and Digital Banking.

These accolades reflect Technisys's commitment to pioneering digital banking solutions that empower financial institutions to differentiate themselves in a crowded market.

Client Success Stories

Technisys's impact is best illustrated through the success of its clients. For instance, Banco Falabella leveraged the Cyberbank platform to launch a comprehensive digital experience across every touchpoint. By focusing on mobile, they created a unique user experience within an ecosystem, eliminating the need to write code from scratch and saving valuable time and money.

Such testimonials underscore the tangible benefits that Technisys's solutions bring to financial institutions aiming to enhance their digital offerings.

Future Outlook

As part of SoFi Technologies, Technisys is poised to further its mission of revolutionizing digital banking. The combined capabilities of Technisys and Galileo are expected to enable the company to meet the expanding needs of existing partners and serve additional established banks, fintechs, and non-financial brands looking to enter financial services. The estimated incremental revenue from the acquisition is projected to add a cumulative $500 to $800 million through year-end 2025, at high incremental margins.

Moreover, SoFi anticipates significant cost savings by integrating Technisys. Once migrated off its current multiple third-party cores to a single owned and operated Technisys core, coupled with the vertical integration with Galileo, SoFi expects to create approximately $75 to $85 million in cumulative cost savings from 2023 to 2025 and approximately $60 to $70 million annually thereafter.

Technisys's journey from a visionary startup to a key player in the fintech industry exemplifies the transformative power of innovation in digital banking. By continually adapting to customer behaviors and leveraging cutting-edge technology, Technisys has enabled financial institutions to offer personalized, frictionless experiences that meet the demands of today's consumers. As part of SoFi Technologies, Technisys is well-positioned to continue its trajectory of growth, shaping the future of digital banking for years to come.

Miguel Santos, Founder

“Whether your business is retail, SME, corporate or payments, Cyberbank can help you kick-start your digital banking transformation or startup project in as little as three months.”