1. Ascendion partners with Axos Bank to enhance high-net-worth banking. 2. The collaboration aims to modernize Axos' Zenith platform with AI technology. 3. Zenith will streamline accounting and payment functions for clients in the entertainment industry. 4. Axos Bank is committed to investing in customer experience improvements. 5. This partnership could set new standards for digital banking solutions.
The partnership enhances Axos' capabilities, likely increasing customer engagement and retention. Past collaborations in tech upgrades have benefited stock prices positively.
The article highlights significant strategic developments that could enhance Axos' market position. Partnerships leveraging AI are critical in the financial services sector, which can drive substantial growth.
The ongoing nature of tech partnerships suggests sustained benefits over time. Previous similar alliances have shown long-lasting improvements in company performance.
BASKING RIDGE, N.J. and SAN DIEGO, Feb. 19, 2025 /PRNewswire/ -- Ascendion, a trailblazer in AI-driven software engineering, is proud to announce it has partnered with Axos Bank, the nationwide bank subsidiary of Axos Financial, Inc. (NYSE: AX). The partnership will redefine high-net-worth banking and accounting by delivering improved customer experiences on Axos Bank's Zenith platform.
Ascendion will leverage its AI-powered engineering systems for Zenith – a multi-entity, all-in-one solution for accounting, cash management, bill pay, payroll, relationship management, and integrated banking – that supports business management companies serving the entertainment industry. The partnership will create a dynamic, turnkey platform that saves Axos client's time by streamlining bookkeeping and payments functions.
"As a pioneer in digital banking, Axos continuously invests in improving our customer experience," said David Park, EVP, Head of Axos Commercial Bank. "Our partnership with Ascendion will accelerate our efforts to modernize banking for business managers, family offices, and their clients - blending cutting-edge technology with exceptional service."
Axos' Zenith platform is designed to deliver significant benefits to users and their end clients.
"We are thrilled to partner with Ascendion to create a platform that will set a new standard for the digital banking experience," said Marc Kantor, SVP, Head of Commercial Operations & Technology at Axos Bank and COO of Zenith Information Systems. "Ascendion's expertise and commitment to innovation are evident, and we are excited about the business outcomes this partnership will deliver."
The Axos and Ascendion teams will work together to deliver:
"This partnership isn't about technology alone—it's about changing lives with agentic AI. Together with Axos Bank, we're charting a course for a future where banking is faster, smarter, and infinitely more human," said Karthik Krishnamurthy, CEO at Ascendion. "We're grateful for the trust placed in us by Axos Bank leaders. This partnership with Axos Bank illustrates Ascendion's commitment to bring Engineering to the Power of AI to clients, and it aligns with our mission to positively impact lives with technology."
Ascendion is a leading provider of AI-powered software engineering solutions that help businesses innovate faster, smarter, and with greater impact. We partner with over 400 Global 2000 clients across North America, APAC, and Europe to tackle complex challenges in applied AI, cloud, data, experience design, and workforce transformation. Powered by +11,000 experts, a bold culture, and our proprietary Engineering to the Power of AI (EngineeringAI) approach, we deliver outcomes that build trust, unlock value, and accelerate growth. Headquartered in New Jersey, with 40+ global offices, Ascendion combines scale, agility, and ingenuity to engineer what's next. Learn more at ascendion.com.
Axos Financial, Inc., with approximately $23.7 billion in consolidated assets as of December 31, 2024, is the holding company for Axos Bank, Axos Clearing LLC, and Axos Invest, Inc. Axos Bank provides consumer and business banking products nationwide through its low-cost distribution channels and affinity partners. Axos Clearing LLC (including its business division Axos Advisor Services), with approximately $37.7 billion of assets under custody and/or administration as of December 31, 2024, and Axos Invest, Inc., provide comprehensive securities clearing services to introducing broker-dealers and registered investment advisor correspondents, and digital investment advisory services to retail investors, respectively. Axos Financial, Inc.'s common stock is listed on the NYSE under the symbol "AX," and is a component of the Russell 2000® Index, the S&P SmallCap 600® Index, the KBW Nasdaq Financial Technology Index, and the Travillian Tech-Forward Bank Index. For more information regarding Axos Bank, please visit http://www.axosbank.com.
SOURCE Ascendion