Archway began as WaFd Bank’s Pike Street Labs. Credit: Towfiqu barbhuiya on Unsplash

WaFd Bank fintech spinout Archway has garnered an investment of $15m in its Series A funding round.

The funding round was led by venture capital firm Madrona and WaFd Bank.

Go deeper with GlobalData

Data Insights

The gold standard of business intelligence.

Find out more

Archway is a Seattle, Washington-based company that offers a platform for banks to modernise and personalize digital customer interactions.

With the help of Archway’s platform, banks can quickly incorporate their basic banking services into web, mobile, voice, and AI technologies.

In order to seamlessly link a bank’s internal core technology stack to customer-facing applications, Archway offers a singular access point via an API.

Archway president Dustin Hubbard said: “Banking infrastructure is heavily regulated, and many banks have systems that work well for the business of running the bank but are not optimised for customer service, which puts the bank at a disadvantage.

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.

“With a cloud-native approach, we are abstracting the complexity for banks and enabling them to easily integrate the technologies their consumers want.”

Archway, which began as WaFd Bank’s Pike Street Labs, intends to use the money to increase operations and accelerate development.

WaFd Bank CEO Brent Beardall said: “Technology can and should drive improved client experience, stronger controls, and more efficiency. I have heard from banks around the country that what we have started to build is the solution they have been looking for, and we are excited to back Dustin and the team as they roll out solutions for WaFd and other banks.”