SANTA MONICA, Calif.--(BUSINESS WIRE)--Meed, the Santa Monica-based company committed to bringing socially-conscious innovation to the financial sector, today announced a collaboration with Oracle to deliver its innovative suite of digital financial services to banks worldwide.
“Oracle has been clear in its belief that banks now have to embrace digital technologies to 'future proof' their businesses, or be left behind as fintech disruption transforms their industry,” said Les Riedl, President of Meed. “It’s a position that mirrors our own, and one that’s borne out by our experience every day. As we seek banking partners for our innovative program of financial inclusion and mobility, it’s clear that older legacy systems lack the flexibility and adaptability required by the latest digital banking solutions. Oracle’s leading edge platforms afford us the ideal means to integrate rapidly and efficiently with socially-conscious banks and credit unions, both in the U.S. and worldwide.”
Meed will integrate with Oracle’s Digital Banking Experience (OBDx) solution, using the Oracle platform to deliver end-to-end digital experiences while leveraging existing IT infrastructure investments including core banking systems.
Meed’s innovative business model revolutionizes the marketing, delivery and consumption of financial services for digital consumers, thereby delivering differentiation, competitive advantage and incremental growth for participating banks. Meed combines a specially designed product suite and state-of-the-art smartphone app with a unique, patent-pending social marketing model that provides an efficient, highly profitable acquisition engine for banks and a residual income stream for consumers.
Following a successful November launch in Vietnam, Meed has enjoyed exponential growth and is projecting to hit over 300,000 users in Vietnam alone by year end. After just 3 months, Meed’s app achieved the highest overall consumer rating of Vietnam Banking Applications1. Meed will next launch in the United States, Colombia, Mexico and India as it works towards a goal of establishing a global network of Member Banks in 30 countries by 2021.
Headquartered in Santa Monica, CA, Meed is on a mission to redefine financial inclusion and mobility by making financial services more affordable, convenient and aligned with the needs and behaviors of digital consumers. Meed provides a new global platform for a community of networked Member Banks and Credit Unions, Corporate Members and individual users. For more information, visit http://www.meed.net/.
Oracle offers a comprehensive and fully integrated stack of cloud applications and platform services. For more information about Oracle (NYSE:ORCL), visit www.oracle.com.