Black Dragon Capital has appointed Joe Lockwood as the CEO of Open Banking Solutions, an advanced, cloud-based, core and digital banking solution designed to give community-based financial institutions a competitive edge in the rapidly evolving digital landscape.
Mr. Lockwood is a seasoned professional within the core banking industry. His career spans three decades and is defined by his success in designing state-of-the-art solutions to meet the future needs of financial institutions. He was also part of the team responsible for growing and enhancing the DNA Platform, a revolutionary third-generation core solution which reshaped the industry decades ago.
Mr. Lockwood’s appointment as CEO of Open Banking Solutions was supported by Black Dragon Capital℠ CEO and Founder, Louis Hernandez, Jr., who was the Chairman and CEO of the company Open Solutions during the creation of the DNA Platform. Mr. Hernandez worked closely with Mr. Lockwood, who was a leader at the largest reseller, on the commercialization and expansion of DNA leading to its success and recognition as the most advanced processing platform in the market.
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Black Dragon Capital℠ created Open Banking Solutions to bring powerful technology at affordable costs and with flexible terms to community-based financial institutions. Despite being newly launched in the United States, the team is composed of veteran executives from the core processing and digital banking areas, with a long history of operational and investing success.
The addition of Joe Lockwood as CEO of Open Banking Solutions further strengthens their capability to deliver future-proof solutions that can meet the needs of community-based financial institutions. His thorough knowledge of the industry, combined with his decades-long experience in developing core banking solutions will be an invaluable asset for the company as it grows.
“Having spent thirty years in the core banking industry developing on the largest third generation core (DNA), I know what it takes for Financial Institutions to succeed,” said Joe Lockwood, CEO of Open Banking Solutions. “I also know that even the third-generation cores are monolithic and have development cycles of 12 to 18 months to roll out new features. Our fourth-generation core solves that by allowing each user to tailor the core experience to their individual needs. Built on over 1800 rest APIs and using state of the art no code, cloud-based software we can bring new features to market 3-5 times faster than any other core. And we will stand behind our product and service; if we don’t, you can cancel your contract with minimal notice and no contract fulfillment fees.”
Black Dragon Capital℠ and Open Banking Solutions are both committed to providing community-based financial institutions the advanced solutions they need to remain competitive at an affordable cost. With Louis Hernandez, Jr. and Joe Lockwood taking the lead, they aim to recreate the massive impact left by the DNA Platform on the banking industry.
“Joe has dedicated most of his career to helping different financial institutions overcome challenges through technology. His expertise is exactly what we need to make sure that Open Banking Solutions can provide community-based financial institutions with an advanced solution that can meet their individual needs and transform their business,” said Louis Hernandez, Jr., Founder and CEO of Black Dragon Capital.
Black Dragon Capital℠ continues to invest in growth segments like the credit union industry, which has been affected by disruption. Over the past year, the firm has consistently made efforts to address the unique challenges faced by community-based financial institutions. Notably, the firm launched the Black Dragon FinTech Fund, which aims to address the unique needs of the community based financial institutions while addressing the impact of digitization on their relevancy and changing community needs so they can compete and win.
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