Truist Financial Corp. is launching a new division focused on innovation, the bank announced at Money 20/20 last week.
Truist Foundry, the new unit, will function as a startup and will bring together teams from business, design, operations, product risk and technology “to deliver projects and serve the bank’s lines of business,” a Truist spokesperson told Bank Automation News. The division will also be comprised of team members who joined Truist following its May acquisition of Long Game, a financial literacy mobile app.
The Charlotte, N.C.-based bank will benefit from Long Game’s technologies — including user testing and data-driven analysis capabilities to help understand how clients engage with Truist — as well as its innovative culture, Lindsay Holden, head of Truist Foundry and co-founder of Long Game, told BAN.
Long Game is integrating its platform into the Truist mainframe via APIs and will be rebranded and ready to launch as Truist Long Game in the first quarter of 2023, Holden said, noting, “There’s a lot of potential about what we can do with integrating other areas of positive financial behaviors into the app in the future.”
Truist Foundry and Truist Long Game are part of the bank’s ongoing development efforts that have been in the works for the past several quarters, she said. “The directive coming straight from Bill Rogers, our CEO, is we’re investing in innovation now,” Holden added.
