Tag: Sensibill

03
Feb

Sensibill welcomes Tom Shen as chair of the board

TORONTO, Feb. 03, 2020 — Sensibill announced today that digital banking veteran Tom Shen has been appointed chair of the board. Shen is joined on the board by Corey Gross, co-founder and CEO of Sensibill, David Unsworth, general partner at Information Venture Partners, and Benji Sucher, general partner at Radical Ventures.

Shen’s addition to the board is part of a series of executive appointments designed to help the company fulfill its mission of powering financial institutions with innovative solutions that drive customer value and engagement, while expanding the data streams financial institutions need to forge deeper relationships. Sensibill secured $31.5 million USD in Series B funding in 2019 to further support this initiative. The round was led by Radical Ventures, with participation from the National Bank of Canada and others. Radical Ventures is focused on applying data and AI on a global scale; their involvement adds a deeper layer of data expertise that is complemented by Shen’s digital banking experience.

Shen is a proven expert at scaling digital banking services for financial institutions. He was the founder and CEO of digital banking solutions provider Malauzai, which he sold to Finastra in 2018. Finastra attributed the company’s market leadership and open approach as part of its purchasing decision. In 2005, Shen joined the executive team at Digital Insight, an internet banking and payments provider ultimately acquired by NCR Corporation (NYSE: NCR). The first company he founded was Software Dynamics, Incorporated (SDI), a provider of teller and platform automation software that grew to work with more than 1,200 financial institutions before it was sold to S1 Corporation in 2001. The business was later acquired by ACI Worldwide (NASDAQ: ACIW).

“Sensibill is at the precipice of a major breakthrough,” commented Shen. “The company has joined forces with some of the world’s leading financial institutions, and they are highly proficient in a market that is ripe for change. Customers have become accustomed to personal and on-demand service from their experiences with big tech; Sensibill’s use of purchase data and AI expertise makes these user experiences readily available to financial institutions.”

Gross added, “There are only a handful of digital banking innovators of the caliber of Tom Shen. His success building and delivering game-changing digital solutions for financial institutions has been proven time and again. We’re excited to have him join Sensibill as we endeavor to make banking more personal.”

Sensibill has raised a total of $46.5 million USD and has partnered with the largest financial institutions and digital banking providers in the U.S., the U.K., and Canada.

12
Dec

Sensibill deepens UK market expansion with Metro Bank partnership

Sensibill announced today that it will partner with Metro Bank, the first high street bank to open in the UK in over 100 years, to power its mobile receipt management offering. The partnership supports the bank’s mission to transform the digital experience for its small business banking clients. 

Metro Bank has invited select small business customers to join a free beta trial of its forthcoming receipt management solution within their mobile app, with a public release set to launch to all business customers in early 2020. Small businesses will be able to capture, store and organize their receipts, allowing for easy expense tracking and management. In turn, the solution helps these business owners audit-proof their business and maximize tax deductions.

Beyond offering a valuable tool for Metro Bank’s client base to use, Sensibill provides the ability to gather deep insights on customer purchase behaviors through the itemization and categorization of receipt data, providing the opportunity in which to truly personalize communications and products to customers. 

“Metro Bank is building a suite of compelling tools that will help transform the small business banking experience in the UK,” said Corey Gross, Co-Founder and CEO of Sensibill. “Our partnership with Metro Bank demonstrates our shared focus to deliver customer-centric solutions that improve the financial well-being of banking customers. We’re excited to support Metro Bank’s commitment to strengthening its relationship with their customers through digital innovation.”

Paul Riseborough, Chief Commercial Officer at Metro Bank, says: “Accounting tasks, along with chasing invoices and staying on top of receipts, are major pain points for SMEs. By partnering with Sensibill, we’re offering an innovative, digital solution that solves real problems for our customers, saving them time spent on admin and allowing them to focus on running and growing their business. And this is just the first piece in the puzzle as we set about developing a major new digital ecosystem of services to help SMEs.”

The partnership is continued proof of the widespread acceptance of digital receipt solutions, the value of item-level data, and Sensibill’s position as the preferred provider and market leader in the UK and the broader sector.