Bank of America, BNY Mellon, and Citi announced a $20 million investment in Genesis Global, the low-code application development platform created specifically for companies in the financial markets. Following the company’s $200 million Series C funding announced in February, several key investments were made.

“This strategic support from Bank of America, BNY Mellon and Citi demonstrates their confidence in low-code as an accelerator for the next wave of IT innovation,”

“We are excited to be working with these partners on multiple innovative projects.”

                                                                                           Stephen Murphy, CEO of Genesis.

“Our clients and environment demand more innovation and productivity in terms of IT output,”

“The low-code solution provided by Genesis accelerates the development process and allows us to more quickly build out and launch new trading protocols and processes.”

                                                        David Trepanier, Head of Structured Products, Global                                                                        Credit and Special Situations, Bank of America.

Financial market organizations can speed up the pace of technological innovation while both operating and modernizing intricate legacy systems by speeding up the application development process. Financial services companies prioritize digital transformation as they look to stand out from the competition, innovate, lower the cost and complexity of current systems, and react more quickly to shifting legislation.

“Our investment in and collaboration with Genesis allows us to create applications and solutions faster to meet the increasing demands of our clients,”

“The ability to develop, customize and integrate applications with speed is critical and provides our developers with a toolset to make robust and flexible platforms that can scale.  We couldn’t be more excited for this opportunity to work alongside Genesis in expanding the development of low code technology.”

                                                 Avi Shua, CIO, Head of Investment Management ,Wealth                                                                 Management & Pershing Technology, BNY Mellon.

Financial services companies utilize Genesis throughout the software value chain to replace outdated technology, improve current systems, automate spreadsheet procedures, and create fresh, reliable applications from scratch.

“The Genesis platform is built for financial markets,”

“The platform eliminates repetitive, non-differentiating work core to many financial industry applications, freeing developers to focus on innovative work and making Technology departments more productive and more strategic.”

                                        Nikhil Joshi, North America Head of Markets Technology at Citi.

Genesis quadrupled both its team size and revenue in 2021. The Genesis buy-to-build approach for IT transformation is seeing more client interest in 2022, which is fueling the growth. With buy-to-build, organizations quicken the speed of IT transformation since the Genesis platform makes it significantly simpler and faster to develop new applications as well as improve or replace legacy systems.