PYMNTS | August 19, 2020
Revolut Ltd., the British financial technology (FinTech) company, has introduced what it describes as a simple way to track, split and settle expenses instantly, in one place. Group Bills promises to ease the management of group expenses. Instead of splitting one bill at a time, the platform allows customers to stay on top of shared expenses with roommates. With the new service, users add bills to their “group” and track them in one place. When it’s time to make payments, the app can make instant transfers when customers are on Revolut. “From two to 20 people, splitting group expenses has never been easier,” the company said in a statement. “No need to have those awkward conversations: Simply send a payment reminder and Revolut will send an automatic notification to your friend about payback.” The service can split bills with accuracy without users having to do the math, Revolut said. Group Bills determines how much each person needs to pay, and also adds a name and photo for security.
Cloudian Inc | July 14, 2020
Cloudian® today announced that PostFinance, a digital innovation leader in the Swiss banking world, has capitalized on the recent integration of Cloudian’s HyperStore® object storage with Splunk® SmartStoreTM to extract greater value from its growing data. The Cloudian-Splunk solution enables organizations to add compute on demand for search and indexing workloads while growing storage independently to accommodate capacity and retention requirements. Cloudian has shown that the solution’s decoupling of compute and storage can provide a 60% TCO reduction in Splunk environments.
Alkami | April 13, 2022
Alkami Technology, Inc. (Nasdaq: ALKT) ("Alkami"), a leading cloud-based digital banking solutions provider for banks and credit unions in the U.S., today announced that Mascoma Bank ("Mascoma") has selected Alkami's digital banking platform as part of a full technology stack overhaul with core banking technology firm Thought Machine. This will not only drive future growth for Mascoma, but also serve as a model for other community banks to build upon.
We are building an innovative ecosystem that will allow us to better serve our existing customer base, attract new customers and grow strategically into the future, Our Chief Technology Officer, Raphael Reznek, challenged us to rethink how we use technology and the importance of building an embedded finance system. As a result, instead of replacing our existing core, we set out to completely revamp our tech stack to incorporate the most advanced systems. We chose to partner with Alkami because they offer the best balance of deep extensibility with robust 'out of the box' capabilities and configurations."
Clay Adams, president and chief executive officer of Mascoma Bank.
The Alkami platform will be integrated with Thought Machine's core banking platform, Vault, to provide a complete cloud-based banking platform that is capable of being easily configured and scaled. Mascoma will be able to get to market quickly and have the ability to customize based on the bank's unique needs using a modern API architecture and real-time data.
Mascoma is a community bank to watch. They are undergoing a true digital transformation, and we are thrilled to be a part of it, Their digital-first mindset is helping them build a foundation that will allow them to innovate and adapt—fueling the future of community banking as a whole."
Alkami's chief executive officer, Alex Shootman.
Raphael Reznek along with our leadership team has a vision to build a digital platform that will put us in control of our destiny and serve as a roadmap for other community banks to follow. The new tech stack more than answers that call, I am particularly excited for Alkami's data insights, which will allow us to provide tailored experiences to further empower our customers on their financial journeys."
Samantha Pause, chief marketing and product officer at Mascoma.
About Mascoma Bank
Headquartered in Lebanon, New Hampshire, Mascoma Bank is a $2.6 billion mutual bank and Certified B-Corporation® with 28 branches and 2 loan offices throughout Northern New England. Mascoma Bank was founded in 1899 by community members seeking ways to establish a healthy local economy. For over 122 years, Mascoma Bank's foundation of mutuality has continued to be a force for positive change supporting communities to reach thriving sustainability. Mascoma Bank has made a strong commitment of utilizing technology to help support its mission and values of putting the customer at the center of its work.
Alkami Technology, Inc. is a leading cloud-based digital banking solutions provider for financial institutions in the United States that enables clients to grow confidently, adapt quickly and build thriving digital communities. Alkami helps clients transform through retail and business banking, digital account opening, loan origination, and multi-payment fraud prevention solutions.
Wealthbox | March 10, 2022
Wealthbox, a leading CRM software platform for financial advisors, announced today that Frontier Growth, a growth equity firm focused on fast-growing software businesses, has taken a minority stake in the company with a $31M equity investment.
Founded by serial entrepreneurs John Rourke and Dan Ferranti, Wealthbox is a purpose-built CRM technology for financial advisors at wealth management firms and broker-dealers to track client relationships, collaborate as a team, and streamline operations. Launched in 2014, Wealthbox is known for its modern product design, powerful features, and intuitive user experience and is now integrated with leading custodial platforms and wealth-tech products.
Frontier Growth has an amazing track record in helping rapidly growing companies scale even faster, and we're delighted to partner with them in our Series B round of financing, The investment capital for Wealthbox will allow us to accelerate product development and innovation so we can continue providing best-in-class CRM and related software solutions for financial advisory firms of all sizes."
John Rourke, CEO of Wealthbox.
Wealthbox's talented team, impressive growth rate, and excellent business metrics are a great fit for the added support, expertise, and funding we offer, We look forward to the partnership with the Wealthbox team to help financial advisory firms better operate their businesses with Wealthbox as their hub software."
Richard Maclean, Managing Partner and cofounder of Frontier Growth.
As part of the transaction, Richard Maclean and Matt Williams of Frontier Growth will join John Rourke and Dan Ferranti on Wealthbox's board of directors. Prior to the transaction, Starburst Labs, the parent company of Wealthbox, spun out Wealthbase, a social trading app for retail investors, which is now operating as its own separate company. Wealthbox is now the sole property of Starburst Labs, Inc.
Wealthbox operates as a remote-first company with employees located across the United States, and a large part of the team is located in Rhode Island. The Wealthbox CRM technology is purpose-built for the wealth management industry vertical and designed for financial professionals at advisory firms and broker-dealers to manage client relationships and streamline operations to grow their practices.
About Frontier Growth
Frontier Growth supports the growth of software companies that have $5M to $30M in revenue by deploying both investment capital and operational expertise. The firm was founded with a culture that puts People Before Numbers, because it's people that lead to real growth. With over 20 years' experience, over $1.5B in AUM, and actively investing its fifth fund, Frontier respects that each of their companies represents someone's life's work. It's why the firm's explicit focus is to help them grow without stifling the innovation that's made them successful.