2024 was an exciting and transformative year for Amount. As we step into 2025, I want to take a moment to reflect on Amount’s accomplishments over the past year and share insights on how we continued to grow and adapt alongside the ever-evolving banking industry.
Industry Outlook
The banking and credit union industries are entering a phase of optimism and opportunity, driven by improving macroeconomic conditions that have spurred investment in innovation. Against this backdrop, one trend we see growing is banks and credit unions increasingly seeking an acceleration in innovation to meet the expectations of customers & members in order to remain highly competitive in a crowded financial ecosystem. This trend validates Amount strategic direction with our new modern SaaS platform to provide unified deposit account and lending origination for both consumer and small business (SMB) financial products, wrapped with world-class fraud prevention and AI. For companies like Amount, these new market dynamics and renewed focus on innovation create opportunities to partner with financial institutions, helping them capitalize on growth ambitions with new and existing customers & members, drive efficiencies, reduce complexity and embrace innovation with confidence.
Additionally, improved economic conditions are set to act as a “rising tide,” giving middle-market and community banks, as well as credit unions, the confidence to tackle long-deferred technology upgrades to better compete in the market. For years, many smaller institutions have hesitated to invest in modernizing their systems due to economic uncertainty. Now, with stronger financial conditions, these organizations are seizing the moment to adopt innovative solutions that position them for long-term success. This is an area where Amount is poised to thrive, as we’ve invested heavily in our technology last year to be able to offer our modern, enterprise-grade origination and decisioning platform to banks and credit unions of all sizes, tailored to their specific needs.
Finally, I’d be remiss if I failed to mention AI as a key trend in 2024. AI adoption, a transformative force over the past few years, is now entering its next phase within the banking sector. In 2025, I expect to see AI go beyond its initial hype and continue solving real-world challenges. This includes optimizing credit and pricing decisions, enhancing fraud prevention, and streamlining operational efficiencies for banks and credit unions. The tangible impact of AI is becoming increasingly clear, and the industry is poised to showcase how this technology can make meaningful, measurable differences in serving customers better.
2024 Achievements
Harnessing the power of unification for deposits and lending was a primary focus for Amount in 2024, highlighted by the launches of our Unified Account Opening and Loan Origination Platform and SMB Suite for both banks and credit unions. This marked a pivotal moment in our journey, allowing us to offer end-to-end solutions for our clients with one platform. With this addition, Amount now seamlessly combines deposit and lending capabilities, powered by our world-class decision engine and enhanced by our AI-driven insights.
That being said, 2024 was busy on a number of fronts. Some other highlights include:
Raised $30 million in funding for credit union lending technology:
In August, we raised $30 million in funding to accelerate our progress in the credit union sector and further invest in our technology. This funding round included a strategic investment from Curql, whose support validated our expanding focus on the mid-market and credit union sectors.
Launched our AI Policy Optimizer:
In October, we launched our AI Policy Optimizer to help financial institutions of all sizes customize their credit, pricing and fraud prevention policies. The new tool demonstrated Amount’s ability to solve real-world challenges, optimizing decision-making processes and delivering unmatched value to our clients to help them optimize their program in a more efficient, responsible and fully auditable way. See it in action here!
Highlighted our work with Liberty Bank:
In June, we went public with our partnership with Liberty Bank, where we helped modernize the institution’s technology infrastructure to enable diversifying and growing the bank’s assets by entering a new Consumer Lending segment.
Strengthened our partnership with Velera:
In April, we again banded together with the nation’s premier CUSO, Velera, to launch its new digital lending suite, Origination Solutions. Origination Solutions supports an end-to-end seamless experience, including digital credit card with new account origination services.
Amount in 2025
Last year, Amount dedicated significant effort to developing our new modern SaaS “A3” platform, launching our third-generation platform in just 10 years. This milestone underscores the required speed of innovation in today’s financial landscape and reaffirms our commitment to providing our clients with the tools and solutions needed to perform at the highest level. This foundation sets the stage for an ambitious 2025 game plan centered on three main priorities:
Growing our footprint among regional and community banks and credit unions: Leveraging our current partnerships with major credit union and mid-market players, we aim to deepen our impact in this rapidly growing segment. Our goal is to increase our capabilities targeted at these two demographics and provide them with a trusted financial technology partner that delivers solutions to help them best serve their customers and members.
Launching strategic partnerships: Amount will soon be announcing several new exciting partnerships. Amount’s new platform is reseller ready with the ability to enable partner-staffed implementations and support and is flexible to be sold on a white-labled basis.
Adding new strategic products to our platform: We are always looking for ways to expand our solution set to support more asset classes, and we’ll be announcing new additions in 2025 to round out our unified “A3” SaaS platform.
I’m excited for the road ahead and what 2025 has in store. I know that all of us at Amount are eager to continue growing and supporting our clients in every endeavor. 2024 showcased the potential of what Amount can accomplish, and I am confident that 2025 will bring even greater opportunities for innovation, growth, and meaningful impact. Here’s to an exciting year ahead.
