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Agent IQ secured a strategic funding from the Bankers Serving to Bankers Fund (BHB Fund).
The digital buyer engagement innovator demoed its expertise at FinovateFall 2022 in New York.
The BHB fund launched in 2022 to provide group banks wider publicity to a variety of modern fintechs.
Phrases weren’t disclosed. However the Bankers Serving to Bankers Fund (BHB Fund) made a strategic funding in digital buyer engagement options supplier Agent IQ this week. The capital provides to the $18.5 million in fairness funding Agent IQ has raised by way of earlier seed and Collection A rounds.
“This funding is consultant of Agent IQ’s dedication to serving to FI’s foster deep and significant buyer relationships whereas additionally assembly the digital calls for of as we speak’s clients,” Agent IQ CEO and co-founder Slaven Bilac mentioned in a press release.
Agent IQ presents an AI-enabled answer, Lynq, that improves communication between monetary establishments and their clients. The platform permits clients to make fundamental queries, reminiscent of requesting a routing quantity, in addition to extra subtle requests, reminiscent of assist in depositing a test. Lynq additionally permits clients to talk with a human agent at any time limit through the engagement. Through a “banker carousel” with temporary bios and profile photos, Lynq clients can select and interact with a private banker to shortly discover the human help they want.
FIs utilizing Agent IQ’s expertise have reported a discount in name middle quantity of 29%. Moreover, these clients even have famous that Lynq’s configurable, self-service expertise is dealing with greater than 80% of incoming conversations.
“Our workforce appears ahead to empowering extra group banks with data-driven expertise and the power to permit relationship banking to thrive within the digital world,” Bilac added. “We’re excited to be part of the BHB Fund because the group helps extra group banks overcome their shared challenges, function extra effectively, and uncover new sources of revenue.”
The BHB fund launched in 2022. Latitude38 Enterprise Companions manages the fund in partnership with IBAT Providers, Inc. and banking market intelligence and advisory agency, FedFis. IBAT Providers is a subsidiary of the Unbiased Bankers Affiliation of Texas (IBAT). The purpose of the fund is two-fold. First, the fund seeks to provide group banks publicity to a variety of fintech investments able to boosting progress, bettering efficiencies, and enhancing competitiveness. Second, the fund presents the potential for outsized enterprise capital returns uncorrelated to conventional financial institution operations.
Latitude38 Enterprise Companions Managing Accomplice Richard Leggett praised Agent IQ as a great match for the fund’s funding thesis. In a press release, Leggett famous that it was essential for group banks to leverage expertise to drive digital engagement. Agent IQ, which most not too long ago demoed its platform at FinovateFall final yr, presents expertise that does simply that.
Agent IQ’s funding information comes within the wake of a serious new rent. In April, Agent IQ appointed fintech veteran Ruthann Paulin Glyman as EVP, Head of Partnerships and Strategic Alliances. Glyman brings along with her greater than 15 years of monetary companies trade expertise to the job. Earlier to her transfer to Agent IQ, Glyman was Director of Gross sales at Array, one other Finovate alum.
Agent IQ is headquartered in San Francisco, California. The corporate was based in 2015.
Picture by Daria Obymaha
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