Finotta, the fastest-growing player in mobile banking personalization has successfully raised $3 million in their seed round financing led by multiple strategic investors across the country. This initial funding, and partnership with their first customer, will allow Finotta to bring their platform to over 200k users by Spring of 2022.
Finotta will also use this funding to enhance the customer and user experience and grow their team to ensure banks and credit unions are able to provide the right mobile customer experience to the right customers at the right time regardless of their current digital provider.
"Mobile banking technology has fallen behind the times when it comes to customer expectations. And the current players in the space are not solving the problem correctly,” said Parker Graham, CEO of Finotta. "We have applied the same type of personalization technology customers are used to experiencing in their social media apps and embedded it in the mobile banking experience. This implementation means a bank can service any type of customer that uses their app in a completely personalized and scalable way, regardless of their financial journey.”
Finotta’s platform is a personalization solution built to increase revenue, engagement, and financial wellness for mobile banking applications. Their predictive software determines the financial journey of a retail customer, helps them navigate through their journey, and identifies different banking solutions that can save them money, increase their net worth, and increase their overall financial health during their journey.
“The incredible thing about what Finotta is doing is that it’s adding a layer of digital innovation that will help our members improve their financial health by predicting their needs,” said Cliff Shoff, CIO of Meritrust Credit Union. “This will allow Meritrust to provide the solutions our members need quickly, without them calling or coming into a branch.”
With a user-first approach to product development, Finotta has built a powerful and more engaging alternative to the older personal financial management experiences and budget analyzers of the past. By building their solution with the exact people they are so passionate about helping - actual banking customers, the action platform’s customer experience has been developed with direct user feedback.
“For far too long, banking technology has been built top-down, from the boardroom to the customer,” said Graham. “At Finotta we build the other way around, ensuring that our banks and credit unions are buying solutions that provide direct and constant impact to the people that matter most to them - their customers. This creates a win-win-win for all of us. Our users win because they have the solutions they need, our banks and credit unions win because we radically transformed how they can serve their customers, and we win because we were the catalyst that made it possible.”
With account aggregation, customizable smart nudge recommendations, and an instantly digitized consumer sales offering as out-of-the-box features, Finotta’s Action platform accomplishes more in one integration than anyone else in this space. The result is a massive advantage against the competition when it comes to predicting and servicing the needs of customers in the moments that matter most to them.
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