Modyo | December 29, 2021
It gives us great pleasure to announce today that TODO1/iuvity’s solutions will have the frontend digital financial experience powered by Modyo integrated with TODO1/iuvity’s Open Service Platform. With more than 20 years of digital financial experience, TODO1 is an industry leader powering important financial institutions in Latin America that have served more than 21 million digital customers in the past 12 months.
TODO1/iuvity and Modyo are providing clients and partners with a very compelling value proposition. Modyo’s frontend financial platform combined with TODO1/iuvity’s Open Service Platform’s APIs will give our clients flexibility and acceleration. Time to market can be reduced dramatically while helping to power next-gen digital financial solutions, leveraging the right architecture in the cloud.
The first phase of the joint effort will be to launch new ready to go financial experiences offered by TODO1/iuvity. Designed based on years of know-how in the financial services industry, TODO1/iuvity’s OSP provides over 300 rich and extensible APIs that can be leveraged to create unique solutions that meet the most demanding digital financial needs. Customer journeys can be customized by orchestrating business flows, linking existing or 3rd party services and adjusting the visual components to create an exceptional user experience. Additionally, the TODO1/iuvity Open Service Platform’s communication layer allows for quick integration to back-end core systems. Modyo will be the Front End, flexible experience layer connecting to TODO1/iuvity’s ready to go APIs.
Comments on the News
“TODO1 and Modyo have the ability to power a complete digital banking ecosystem,” said Mark Bonnell, CEO of Modyo. “Our frontend platform with a growing catalog of Financial Experiences integrated with TODO1’s Open Service Platform API’s will help financial institutions accelerate their digital transformation.”
This partnership is aligned with our goal of working with exceptional talent to build state of the art products. We are excited to join forces with Modyo to continue being at the forefront of user-centric technologies that empower businesses to better serve their customers.”
Felipe Uribe, CEO of TODO1/iuvity.
About TODO1 and iuvity
TODO1 is a leading technology company servicing key financial institutions in America. A growing number of over 21 million digital customers in the financial sector count on TODO1's solutions. With an exceptional track record, TODO1 delivers innovative and secure solutions through digital channels to financial institutions that want to positively transform the lives of their customers in Latin America and the US. At TODO1 we seek to humanize the relationship between people and their financial world by delivering digital channel solutions designed to facilitate their use and adoption. iuvity is a new brand created by TODO1 focused on the North American market.
Modyo is a fast growing software company that helps digital leaders from financial institutions & large enterprises transform their web and mobile channels with a lightweight, fast and secure next-gen frontend platform. With 130 employees today spread across 3 continents, Modyo accelerates digital transformation for clients and partners. For Financial Institutions, Modyo’s platform makes it easy to create and orchestrate digital experiences built through Micro Frontends that connect to API’s to help Financial Institutions transform faster and build amazing digital customer experiences
American Express | June 01, 2021
Survey indicates that U.S. spending is on the rise across nine key business-to-business (B2B) categories.
U.S. survey respondents cited that raw or processed materials, such as lumber, metals, and chemicals, are outpacing all other B2B spending categories.
Automation is anticipated to be the fastest-growing area in technology spending, with nearly half of U.S. survey respondents planning to automate or further automate their B2B payments over the next year1.
Flexibility is key for the U.S. businesses surveyed, which are adapting their supply chains due to pandemic challenges.
New York, June 1, 2021 – American Express today launched the Global Business Spend Indicator (GBSI), a new survey of global businesses conducted with the Centre for Business and Economic Research (CEBR)². The survey reveals U.S. businesses are the most bullish and optimistic when it comes to B2B spending among the six countries covered in the survey, with 76% of U.S. businesses expressing optimism about their prospects over the next 12 months. Respondents predicted that B2B spending in the U.S. will be an average of 3.4% higher in the second quarter compared to the same period last year. Applying that projection from the survey respondents to broader U.S. macroeconomic data would equate to an estimated $140 billion in additional B2B spending from U.S. businesses³.
“B2B spending is an important bellwether for the overall health of the economy, and the GBSI study shows U.S. businesses are investing and spending more, whether to adopt to the new ways of operating during the pandemic, or to digitize and streamline their operations,” said Dean Henry, EVP, Global Commercial Services at American Express. “It also reveals that some of the trends that have emerged or accelerated during the pandemic, such as payments automation and new approaches to managing the supply chain, are likely here to stay.”
CEBR estimates that the value of B2B expenditures each year amounts to nearly half (48%) of gross output (the total value of sales or receipts) in the U.S. economy. This means that for each dollar spent in the U.S. economy, approximately 48 cents are B2B transactions.
The GBSI is designed to explore the importance of business spending in both the global and local economies based on a survey of more than 3,600 businesses of all sizes and across industries in the UK, Australia, Canada, Japan, Mexico, and the U.S. For this report, B2B spend is classified as goods and services that a business purchases from another business to keep their business running. The survey looked at nine B2B spending categories, and three additional categories of taxes, people / workforce, and travel, entertainment and expenses, for a robust look at the dynamics and impact of overall business spending.
Raw or Processed Materials Top B2B Spend Categories
U.S. businesses surveyed reported that they have increased their overall B2B spending across all the core categories since the start of the year. The highest growth rates were in spending on raw or processed materials such as lumber, metals, and chemicals, which rose by an average of 6.2% between Q1 2020 and Q1 2021, according to survey respondents. This would equate to an estimated $37 billion in additional spend when applied to U.S. macroeconomic data, most likely due to rising prices of raw materials after the onset of the pandemic.
This trend is expected to continue, with the U.S. businesses surveyed anticipating another 6.4% rise in spending in this category from Q2 2021 over the prior quarter.
U.S. Businesses Lead in Payments Automation, with Plans to Continue Investing in the Year Ahead
Within the technology spending category, automation is the fastest anticipated growth area among the U.S. businesses surveyed. While many businesses have already been digitizing their B2B payments over the past few years, the pandemic helped accelerate this trend more broadly.
The GBSI found that, of the six surveyed countries, U.S. businesses have the highest level of automation across most business functions, including with purchasing / procurement, payroll, paying suppliers, supplier analysis, and syncing payments to the existing ledger. In fact, nearly half of U.S. businesses surveyed said they are mostly or fully automating the making (48%) and receiving (51%) of payments from business customers. In addition, there is more opportunity ahead as nearly half (46%) plan to automate or further automate each of these functions over the next 12 months.
With more automation, U.S. businesses may vastly reduce their reliance on manual payment methods – like writing and sending physical checks – which are still prevalent, with 33% of U.S. business spend currently using physical payment methods, according to the businesses surveyed.
On the whole, technology spending by U.S. businesses surveyed rose by an average of 4.1% between Q1 2020 and Q1 2021, equating to an estimated $25 billion in additional spend when applied to U.S. macroeconomic data, likely driven by the rapid digitization of businesses such as e-commerce capabilities or website enhancements. Nearly a quarter (22%) of U.S. businesses surveyed list increasing their online presence among their top three goals and 39% expect to expand their use of virtual cards over the next 12 months.
U.S. Businesses Prioritize Streamlined and Flexible Supply Chain Relationships
For many businesses, the experiences during the pandemic highlighted ways to streamline and seek more flexible ways to manage their supply chains and operating practices.
Over the last 12 months, 23% of U.S. businesses surveyed took steps to simplify their network of suppliers, 23% reduced or avoided long-term commitments to purchase from specific suppliers, and 22% chose suppliers with more flexible payment terms.
Over the next 12 months, U.S. businesses in the survey cite increasing profitability (34%), securing new business or bringing on new customers (32%), and remaining competitive (31%) as being among their three most important goals.
Zendesk | July 08, 2020
Zendesk, Inc. (NYSE: ZEN) today released the Zendesk Startups CX Benchmark Report, documenting how early-stage startups that invest in customer experience (CX) outperform their peers. The data shows that while there is no one-size-fits-all approach, startup success stories have one thing in common: the ability to provide more holistic support to customers from the beginning. The findings feature Zendesk Benchmark data from more than 4,400 early-stage startups from around the world, giving founders and CX leaders direct insights into this crucial part of their businesses for the first time. Most surprisingly, more than 70 percent of startup founders and decision-makers reported they do not have a formal customer support strategy in place. This shines a spotlight on how many companies are missing out on the opportunity to deliver on the customer experiences that will set them apart from their peers and foster long-term business success.
Tyler Technologies | March 31, 2022
Tyler Technologies, Inc. (NYSE: TYL) today announced that the state of Mississippi has extended its contract for Tyler’s award-winning digital government and payments services. The two-year extension builds upon the existing 11-year relationship with Tyler’s subsidiary, NIC.
Throughout Mississippi, NIC currently provides more than 100 state and local government entities with over 340 digital government services, including online hunting and fishing licenses, driver services, and tax payments. NIC Mississippi operates a multi-award-winning citizen portal powered by an intelligent, cross-agency chatbot that engages visitors to the state’s official website, MS.GOV, with machine learning and artificial intelligence to help Mississippians find the services they need – all through a simple, intuitive conversation.
We are honored to continue working alongside many agencies across Mississippi to expand digital government services and payment options for people and businesses across the state, We value our longstanding relationship with the state and, more than ever, look forward to continuing to use technology to deliver innovative solutions in 2022 and beyond.”
Drew Levanway, general manager of NIC Mississippi.
Through its partnership with NIC, Mississippi’s enterprise digital government presence has resulted in process automation efficiencies for both government and citizens. Over the past decade, it has enabled the state to realize a cost avoidance of more than $16.5 million. In 2021 alone, Mississippi government websites served more than 6.5 million citizens and securely processed more than 1.46 million digital government transactions totaling more than $151 million. Mississippi has also won 24 national awards for its citizen-first government experience.
About Tyler Technologies and NIC
Acquired by Tyler Technologies (NYSE: TYL) on April 21, 2021, NIC is a leader in digital government solutions and payments, partnering with government to deliver user-friendly digital services that make it easier and more efficient to interact with government. NIC and Tyler are united in their mission to empower public sector entities to operate more efficiently and connect more transparently with their constituents and with each other. Tyler has more than 37,000 successful installations across more than 12,000 locations, with clients in all 50 states, Canada, the Caribbean, Australia, and other international locations. Tyler has been recognized numerous times for growth and innovation, including Government Technology's GovTech 100 list and Forbes' "Most Innovative Growth Companies" list.