Digital banking and financial services for credit unions are a step closer to being available through Amazon Web Services thanks to a Raleigh startup, Constellation.
Constellation Digital Partners, LLC , led by founder and CEO Kristopher Kovacs launched its first release, Aquarius, on Tuesday. The software is the result of three years in research and development – with more work to be done.
“The software release for the actual delivery of tiles/services to credit unions that make the platform a viable product for use with credit union members will be coming later this year,” the company explained in an email.
“By utilizing Amazon Web Services, we have a degree of scalability and extensibility that other legacy providers simply cannot match, such as the potential to react to increases in traffic, new clients and new opportunities,” said Kovacs in the announcement.
“We chose to name this first release after the constellation Aquarius. Astrologically, the Aquarius constellation is the water bearer and water represents the ‘bringer and sustainer of life’, which echoes the theme of what we’re announcing. Constellation is alive and real.”
Constellation officially launched on May 2 of 2017 with technology that specifically targets credit unions.
The startup promised “a complete suite of digital financial services dedicated solely to credit unions” that “will allow credit unions and members to choose which services to use inside of a secure banking experience.”
Coastal Credit Union in Raleigh and a group of other CUs as well as service providers have already pumped some $9 million into the venture after each of nine original backers provided $200,000 in seed funding.
Constellation said its platform “will allow credit unions and members to choose which services to use inside of a secure banking experience. The platform enables a new service-based economy where developers can create tiles or services and then credit unions can seek out and select those services within the marketplace.”
More software is coming, Kovacs added.
Raleigh startup launches first stage of digital banking service for credit unions (+ video)
