Black Dragon Capital℠ has launched Open Banking Solutions, an advanced, cloud-based, core and digital banking solution designed to give community-based financial institutions a competitive edge in the rapidly evolving digital landscape. The emerging core banking solutions provider is on track to make its introduction and connect with prominent members of the banking and finance industry through its attendance at Money 20/20, one of the largest FinTech events happening from Oct. 27 – 30, 2024 in Las Vegas.

Black Dragon Capital℠ is a multi-phased investment firm with a long history of investing in areas where there is potential to create strong social impact and strengthen the economic stability within the communities that they serve.  The firm works closely with entrepreneurs to build market leading companies, with a focus on high-potential early stage, and mid-market technology companies in growth sectors disrupted by digitization. 

Both Black Dragon Capital℠ and Open Banking Solutions were founded by Louis Hernandez, Jr, an award-winning entrepreneur, successful operating executive and investor, who was Chairman and CEO of Open Solutions and was behind the creation and launch of the revolutionary DNA Platform which reshaped the industry decades ago. Mr. Hernandez and the team behind Open Banking Solutions are determined to recreate this success today with the next advanced solutions to allow community based financial institutions to compete and win.

Community-based financial institutions are facing massive hurdles because of rapid digitalization and the changing expectations of the communities they serve.   However, their current options are limited to costly legacy solutions with inflexible service agreements or unproven technologies that put the institution at risk. Open Banking Solutions is here to bring powerful technology at affordable costs with flexible terms launched by proven executives from the core processing and digital banking areas. 

Open Banking Solutions is a low-code solution which accelerates digital transformation, allowing banks to innovate at a faster and more cost-effective pace. This innovative solution was developed by a seasoned team and is fully prepared for open banking, with over 1,800 REST-based APIs designed to anticipate evolving regulations in the US.

It offers commercially friendly, flexible contract terms that promote collaboration and trust between vendor and customer. There is no required contract fulfillment, and customers are subject to a fixed, reasonable deconversion charge.

Black Dragon Capital℠ has consistently expressed their strong interest in helping the credit union industry by creating innovative solutions to address unique, industry-wide problems. Open Banking Solutions is one of the portfolio companies benefiting from the Black Dragon Capital FinTech Fund, which was launched last year.

"We have witnessed firsthand how technology has rapidly evolved and created new challenges for community-based financial institutions," said Louis Hernandez, Jr, Founder and CEO of Black Dragon Capital. "Digitization has undermined their key strengths in connecting to the members of their community. Open Banking Solutions was created with the intention of providing community-based financial institutions the technological boost they need to future-proof their businesses and get back into the center of their community."

The team behind Open Banking Solutions is eager to connect with members of the credit union industry through their attendance at Money 20/20.