FINTAINIUM and DataSeers | November 22, 2022
Atlanta-based fintech DataSeers and Jacksonville-based FINTAINIUM announce a new partnership to further expand FINTAINIUM's unified cash flow management platform. FINTAINIUM will be using DataSeers' industry leading SaaS solutions like IdentitySeer and ReconSeer to help financial institutions attract, retain, and grow business relationships.
DataSeers will be providing essential back-office services and payments capabilities through their platform specifically designed for banking and payments to help manage critical operations such as reconciliation, compliance, fraud detection, onboarding, and analytics.
Knowing your customer is the first line of defense for fraud, risk, and compliance, but it's still one of the biggest challenges for banks and credit unions. Implementation of a top-tier product like IdentitySeer proves an institution's commitment to providing financial services while keeping out bad actors.
We are pleased to develop this new partnership with Fintainium and together leverage this flexible and scalable platform to provide elevated services in onboarding, reconciliation, and others to their customers in the financial space," says Adwait Joshi, Founder and Chief Seer at DataSeers.
"We have the leading solution in the cash management space and are honored to connect with DataSeers to provide the essential function of embedded reconciliation to the market,"
-Richard Jackman, Chief Executive Officer of FINTAINIUM
FINTAINIUM delivers back-office innovation for financial institutions and streamlines end-users' payments and cash flow management processes. With headquarters in Jacksonville, Florida, and operations in Toronto, Canada, FINTAINIUM facilitates enhanced services between financial institutions, businesses, and other technology companies. Fintainium is a modular platform with the newest technology to work seamlessly with financial institutions and ERP systems. Fintainium's technology enables features such as embedded payments and lending, an integrated CFO toolkit with business intelligence, cash flow management tools, and back-office automation. Fintainium is the only unified platform that combines all these features into a simple, easy-to-navigate user interface. Fintainium was named a Best Startup in Jacksonville by The Tech Tribune.
DataSeers is an Atlanta-based FinTech that has engineered a unique solution for effectively harnessing complex data. Its FinanSeer® software is AI-powered and specifically designed to help banks and payments companies improve their onboarding, reconciliation, compliance, fraud detection, and analytics in one user-friendly platform.
DataSeers was established in 2017. Since the creation of DataSeers five and a half years ago, the company has changed office spaces five times to accommodate its steady client and staff growth.
The company has won multiple awards. With three-year revenue growth of 427 Percent, DataSeers received ranking No. 1503 among America's Fastest-Growing Private Companies in the annual Inc. 5000 list. The company was named one of the Best Places to Work in FinTech by American Banker. DataSeers was recently selected in the AIFinTech100 for 2022. DataSeers received a 2021 Atlanta Business Chronicle Pacesetter Award as one of the 100 Fastest Growing Private Companies in Atlanta. The Technology Association of Georgia recognized DataSeers as one of its "Top 40 Technology Companies" three years in a row. The company has also received the LexisNexis® Risk Solutions HPCC Systems® Community Recognition Award for creating a "Truly Unique Solution" leveraging the HPCC Systems open-source data lake platform. DataSeers was among Atlanta Inno's 2019 "50 on Fire" companies in Georgia. The company was also a winner in the New to Export category at the 2019 GLOBE Awards presented by the Georgia Department of Economic Development and among the 2020 award recipients.
FINANCIAL MANAGEMENT, INVESTMENT MANAGEMENT
Inscribe | September 15, 2022
Inscribe, the award-winning fraud detection and document automation platform, today announced that it has released new features to help the financial services industry meet demands for better risk management and faster customer approvals. Outdated and inefficient processes currently being utilized leave businesses waiting from one to six months to hear about loan applications, while millions of consumers without credit scores aren't able to access financial products at all. But forward-thinking companies are addressing the need for data-driven risk management with AI-powered fraud detection, document automation, and credit analysis.
"Whether applying for a loan, opening a line of credit, or dealing with a faulty credit score due to a computer coding error, we've all suffered from unfair or inefficient processes in our interactions with financial institutions, Inscribe's tremendous growth in 2022 has allowed us to further our mission of creating a fair and efficient financial services ecosystem, and new Credit Analysis™ and AI-powered bank statement automation features that we've just released give companies instant access to the vast amount of financial data contained within documents so that they can make faster and more inclusive lending decisions."
-Ronan Burke, co-founder and CEO of Inscribe
In the past, risk and operations teams had to spend upwards of 30 minutes reviewing a single application document for information. New Credit Analysis™ snapshots and advanced automation features from Inscribe provide a snapshot of important data points needed to make lending decisions with confidence — including cash flow details from bank statements, transaction parsing, and pay stub parsing. Unlike other solutions currently on the market that can take up to 4 hours, Inscribe accurately extracts and returns key details (names, addresses, dates, transactions, salary) in just seconds.
Fast-growing fintechs across lending, corporate cards, and financial automation have already adopted these features:
Reviewing bank statements is a critical step for us to determine an applicant's creditworthiness. But that requires a lot of manual effort for our team to verify income, understand expenditure, search for high-risk transactions, etc., Inscribe's Credit Analysis feature mimics the same heuristics my team uses and delivers those key cashflow data points almost instantly. Not only does this save us time, but it enables us to make better credit decisions,said Anurag Puranik, Head of Credit and Risk at Coast.
One of our competitive advantages at Ramp is speed. As the fastest growing corporate card in America, we look for products and services that can match our pace and help us accelerate growth, In the process of automating our underwriting, we found that a significant percentage of our applicants still uploaded bank statements. Inscribe's transaction parsing has been key to automating the application review process,said Karim Atiyeh, co-founder and CTO at Ramp.
Inscribe's pay stub parsing has been incredible, The fact that we don't have to have our internal agents pull out net pay or annualize income significantly reduces the chances of human error and frees up their time. It really has improved our efficiency. We've been able to reduce the amount of time it takes for us to give applicants a loan decision by 50%,said Sara Vozeolas, Sr. Operations Analyst at VIVA Finance.
With these new features, Inscribe customers can address business and consumer demands for near-instant approvals while protecting themselves from fraud and credit losses down the line. This announcement comes amid rapid growth from Inscribe in 2022: The company surpassed a 3x y-o-y increase in annual recurring revenue (ARR) and a 4x y-o-y increase in the number of documents being processed every month.
Companies that use Inscribe can give their customers faster approvals while saving thousands of employee hours and millions of dollars in fraud losses each year. In 2022, Inscribe also announced a partnership with Lendflow and was listed on the 2022 AIFintech100 and SaaS award lists. To learn more about Inscribe's fraud detection and risk management solutions,
Inscribe's award-winning technology is the most effective way for fintechs and financial services organizations to automate their manual reviews, reduce fraud losses, and increase decision accuracy. By automating document reviews and improving fraud detection, companies can increase efficiency and reduce operational costs. Founded in 2017, Inscribe is trusted by leading companies like BlueVine, Petal, Fair, and Ramp. Inscribe is backed by Y Combinator, Uncork Capital, Crosslink Capital, and Foundry Group, and has a presence in the US and Europe.
AFS and Jingle Pay | October 12, 2022
Jingle Pay, a financial super-app that provides money services in the Middle East, North Africa and Pakistan (MENAP) region, has entered into a strategic partnership with Arab Financial Services (AFS), the leading digital payments solutions provider and Fin-Tech enabler in the Middle East and Africa (MEA). Jingle Pay and AFS will join forces to deliver unique digital payments and exceptional customer experience in the Kingdom of Bahrain. The partnership expands Jingle Pay's footprint in the region simplifying the everyday financial lives of the masses.
Jingle Pay, the MENAP financial super-app, provides expatriates with the world-first remittance marketplace. In 2022, the World Bank reports, Officially recorded remittance flows to low- and middle-income countries (LMICs) are expected to increase by 4.2 percent this year to reach $630 billion. In Bahrain, Jingle Pay app users will have access to instant account opening, multi-currency cards, instant and fee-free money transfers to over 160+ countries and 99+ currencies, P2P payments including splitting bills, AI-embedded financial analytics, in addition to other value-added services
Amir Fardghassemi, Chief Executive Officer of Jingle Pay states, Through this strategic collaboration, Jingle Pay will operate as the digital financial technology arm of AFS's mobile consumer business. AFS will provide end-to-end support in Bahrain for prospective Jingle Pay users, from digital onboarding to the processing of transactions made using the Jingle Pay app. Ultimately, customers can look forward to free and instant account opening accompanied by various instant payment and money transfer services, one of which is Jingle Pays world-first remittance marketplace, which allows users to send money to over 160 countries at the best exchange rates.
"Part of AFS's success and expansion strategy is built on partnering with market disrupters with the aim of creating innovative solutions that bridge gaps in more traditional offerings present in today's payment ecosystem. This has proven to have a significant impact on our local and regional economy and further develops and enhances the mechanics of the financial services industry."
-Samer Soliman, AFS Chief Executive Officer remarks
Jingle Pay focuses on simplifying the lives of young adults who are seeking an instant, accessible, and user-friendly application to service their daily financial needs. The International Fund for Agriculture and Development, a UN agency, states, A staggering one billion people worldwide are involved with remittance. Every year, 200 million migrant workers send money home, and 800 million people benefit from these flows. Accordingly, Jingle Pay developed its innovative world-first remittance marketplace while acknowledging the key role remittances play in contributing to the GDP and achieving income equality in the MENAP region.
While exploring the influence of Fin-Tech platforms on reducing financial disparities in the MENA region, Aiyub Dawood, a senior correspondent, states that beyond tech hub cities like Dubai, Abu Dhabi, Riyadh and Manama, the region is home to 85 million of the world's two billion unbanked adults. Similarly, the World Bank reports that in Pakistan 81.9% of young adults lacked access to bank accounts in 2021. Nonetheless, a hopeful sentiment reflected in the Global Findex 2021 report portrays a spike in first-time digital payments made by adults post-COVID-19 lockdowns. The report concludes that the digitalization of the financial sector boosts financial inclusion.
By offering free and instant activation of digital multi-currency accounts, Jingle Pay focuses on financial inclusion through simplifying daily financial lives - aligned with the UN's 2030 Sustainable Development Goals (SDG) for increased financial inclusion worldwide.
Licensed as an Ancillary Service Provider by the Central Bank of Bahrain, and majority-owned by Bank ABC, AFS boasts numerous ground-breaking end-to-end digital payment services and solutions. These span debit, credit, and Islamic card processing, merchant acquiring, Fintech, and a suite of state-of-the-art value-added services. Providing the highest quality payments solutions that are trusted by businesses, AFS has offices and data centers in Bahrain, the UAE, and Oman. Its dedication to innovation has positioned AFS as a driving market force delivering a rich portfolio of payment solutions including popular digital mobile wallets, market-leading merchant acquiring services, Bahrain's leading digital payroll solution, cloud contact centers and more.
About Jingle Pay
Jingle Pay is a MENAP financial super-app, which empowers its users with a fast digital account, free of fees and zero-commitments, to reliably store, spend, and send money to 160+ countries, in 99+ currencies, at the best exchange rates globally. Jingle Pay's operations extend across the MENAP region with presence in the UAE, Bahrain, Pakistan and Egypt.
Wagepoint | October 27, 2022
Canadian fintech company Wagepoint may be in the business of payroll, but it's the business of people that truly sets it apart. This week, Wagepoint was named one of Canada's 2022 Best Workplaces for Inclusion and Mental Wellness by Great Place to Work®, a global authority on high-trust, high-performance workplace cultures.
Unlike other tech industry awards, which are decided by panels and third-party judges, Wagepoint CEO Shrad Rao says this one feels especially meaningful – the results are entirely based on feedback from the company's 175 remote employees (lovingly referred to as a band of misfits!).
To earn a spot on the lists, at least 90 percent of employees must agree that they are treated fairly at work, regardless of gender, ethnicity, age or sexual orientation (inclusion) in an anonymous survey, and at least 75 percent of employees must agree that their workplace is psychologically and emotionally healthy (mental wellness).
"Of all the awards we have won, this one feels the most special, I set out to create a place where people feel included and accepted, regardless of their gender, sexual orientation, ethnicity, age, etc. And, it's one thing when you believe you've created that space, but a whole other thing when the people who are meant to be experiencing the feeling of 'acceptance' actually validate it, and anonymously at that! All that said, I do believe that each person in the company creates psychological safety, acceptance and inclusion for everyone else. So, this is a collective award – an ode to each one of us here at Wagepoint."
-Wagepoint CEO Shrad Rao
Wagepoint has always focused on carving out a uniquely "people first" approach in the fintech industry, based on the simple philosophy that, well, everyone is human!
For us, it's not a cliche when discussing company culture, It means remembering that we are people before we are employees, and making every decision in the business, and with each other, from that place, every single day,says Fallon Collett, Wagepoint's People and Culture Manager.
Before they are hired, Wagepoint employees chat with Rao during an informal culture call. They are encouraged to show up to work feeling safe to truly be themselves, and to create that safety for others. But this message isn't a one-hit-wonder; it is reinforced daily, and was the topic of Rao's culture talk during this summer's Wagestock, an annual in-person company retreat (kind of like summer camp, but for – ahem – "grown-ups"). During his talk, Rao touched on the company's operating principles, all rooted in creating a space of safety and trust. The principles include having realistic expectations of each other, seeking to understand where others are coming from, finding balance in decision-making and "knowing your why".
Mental wellness is also a priority at Wagepoint, with all employees entitled to 20 vacation days, in addition to personal and wellness leave, to recharge and do non-work ("people") things. The company offers mental health benefits, partners with People Connect to provide employees access to affordable counseling, creates special Slack channels focused on mental health tips and hosts a series of workshops on well-being topics such as sleep, grief and handling hard times.
By focusing on building an inclusive and mentally healthy team, both Rao and Collett say that Wagepoint is better-equipped to grow and serve another important group of people – its customers! "We treat our customers in the same way that we treat our employees," says Rao. "Happy customers start with happy teams."
Wagepoint has a 4.6 out of 5 rating on Glassdoor.com and was recently recognized with a Silver Stevie® Award in the Employee Engagement category in the 2021 Stevie Awards for Great Employers.
Wagepoint is a small-but-mighty fintech company on a mission to simplify payroll – and maybe even dare to make it delightful! Our online software was created just for small businesses, automating the most "ugh" parts of payroll – like calculating wages and reporting on taxes – so that our customers can get back to doing, well, literally anything else. Backed by the world's friendliest team, Wagepoint is always supportive, never stuffy and refreshingly human. Founded in 2012, we make payroll magic happen for more than 22,000 small businesses, accountants and bookkeepers across North America.