October 17, 2014
Miami-based startup Technisys SA announced it has raised US $ 13M, closing their Round B of funding from investors including Alta Ventures, KaSZeK Ventures, Endeavor Catalyst, and Holdinvest. Technisys offers Latin American banks innovative digital solutions for their clients.
The capital will allow the company to expand its business throughout new markets in Latin America and the USA, as well as to invest further in its Cyberbank Omnichannel product, a differentiation tool for its customers in the growing and dynamic digital finance market.
“Internet and new devices have dramatically transformed the financial services industry. This constitutes an unprecedented development opportunity for banks, retailers and other non-traditional financial service providers,” said Miguel Santos, Company founder and CEO. “Banks will need to differentiate through their customer experience, offering a holistic customer service approach that does not rely on the communication device, offering the best time-to-market and providing the services their customers need, before they even realize what their needs are,” he added.
According to a study conducted by the World Bank, some of 60% of adults do not have accounts. Traditional financial institutions are facing competition from major online payment services like Google Wallet and Apple Pay, making it easier for consumers without a bank account to pay for goods. Technisys has worked with regional banks, including: Citibank, Banco Itaú, Banco Estado de Chile and Banco Original to reach customers using online channels for service.
According to the Wall Street Journal, the company is tracking to do $30 million in revenue this year.
“At Technisys we have found an excellent team and, above all, we were pleasantly surprised by the robustness of their Cyberbank Omnichannel product and the consistently positive feedback received from users. It is clearly a world-class product that allows banks to grow and escalate their business by being far more efficient and offering a better time-to-market vis-à-vis other similar tools. We therefore decided to invest in the Company, and we are very pleased to assist Technisys Technical Team to continue expanding their business both regionally and globally,” noted Hernán Kazah, co-founder and Managing Partner of KaSZeK Ventures.
In this digital age, where user demands are constantly re-shaped by new technologies, the financial services industry needs to efficiently anticipate these developments.
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