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Canapi Inc. Launches to Accelerate Digital Banking Transformation

WILMINGTON, N.C., Feb. 09, 2018 (GLOBE NEWSWIRE) -- Live Oak Banchares (NASDAQ:LOB) today announced it has launched Canapi Inc. (Canapi), formerly known as Live Oak Ventures, to transform how financial services are delivered to customers. With a goal of being a catalyst for the best in fintech, Canapi aims to create an ecosystem of like-minded companies that focus on digital banking transformation.

“Canapi invests in companies that supply banks and credit unions with innovative technology to compete in today’s fast-paced market,” says Canapi Managing Director Neil Underwood. “Our leadership and partners believe open APIs will revolutionize how banks deliver their services. By integrating fintech solutions, we can make banking easier for customers.”

Canapi’s mission is to partner with and invest, alongside an ecosystem of industry veterans, in open bank infrastructure companies who deploy on next generation platforms such as Salesforce, Amazon Web Services (AWS) and Microsoft Azure. These companies provide banks new solutions at scale, quickly and efficiently.

“These companies are on the leading edge of transforming how financial services are delivered by offering frictionless onboarding and superior user experiences on an ever-growing array of IoT, wearable, voice and other technologies,” Underwood adds. “Canapi will drive platforms to the market that offer smarter solutions that today’s banks need.”

To learn more about Canapi and how it is transforming financial services, visit www.canapi.com.  

About Canapi Inc.
Canapi Inc., a wholly owned subsidiary of Live Oak Banchares (NASDAQ:LOB), is a fintech-focused company that aims to bring innovation, efficiency and excellence to the forefront of the banking industry. By investing in companies that accelerate the delivery of open digital banking solutions to the market, Canapi intends to change the landscape of financial services. To learn more, visit www.canapi.com  

Contact
:
Micah Davis, Marketing Director
Media Relations
910.550.2255
micah.davis@liveoakbank.com 

Claire Parker, Senior Public Relations Manager
910.597.1592
claire.parker@liveoakbank.com

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Live Oak Bancshares, Inc.
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