Strands

Strands Website Logo
Type of business Private company
Founded 2004 (2004)
Headquarters Barcelona
CEO Erik Brieva
Key people Luis Rodriguez (Chief Product & Innovation Officer)
Leandro Gimeno (Global Head of Sales)
Jordi Teixidó (VP Customer Services)
Victoria Yasinetskaya (Marketing Director)
Employees 150+
Website strands.com

Strands is FinTech software company, developing solutions for banks and merchants with the aim of increasing customer engagement and creating new revenue through digital channels. Strands uses Big Data and Machine Learning expertise to develop AI-based, highly-customizable digital money management software that empowers people to better manage their life, and make decisions in a smarter and independent way. Strands has collaborated on more than 600 bank implementations worldwide.[1] Strands Finance Suite is a set of white-label solutions including Personal Financial Management (PFM), Business Financial Management (BFM), Engager, API Hub and Customer-Linked Offers (CLO).

History

The company was founded in 2004 in Barcelona (Spain) and in Oregon (USA). Strands began life by developing personalization and recommendation solutions for the music industry. Apple Inc. acquired these early solutions together with a portfolio of 32 patents[2] The company refocused its efforts on the research and development of financial technologies.

Strands is a founding member of SME Finance Forum, managed by the International Finance Corporation - member of the World Bank Group, and is advisory member of MobeyForum, leading Open Banking working group.[3] In 2007, Strands organized a summer school on Recommender Systems, which led to the creation of the ACM Conference on Recommender Systems.[4]

Strands signed a partnership agreement with Mastercard in July 2018 to work together globally and provide issuing banks with an integrated platform of digital cash management and commercial payment tools specifically designed for small-to-midsize business customers.[5]


Products

  • Personal Financial Management (PFM), a white label digital money management solution.[6] In 2008 Strands deployed the first PFM in Europe with BBVA[7] and launched B2C application MoneyStrands in the United States.
  • Business Financial Management (BFM), a digital banking solution for managing business financials, designed especially for SMEs.[8]
  • Engager, enables banks to anticipate and solve customer financial needs by offering the next-best action.
  • Customer-Linked Offers (CLO), enable SMEs to grow their business and selling capacity, with insight-based, personalized offers to bank retail customers. This solution has been implemented by Swiss PostFinance[9]
  • API Hub, connectivity platform, helping bank customers tap into third-party services, such as account aggregation and invoice aggregation.
  • MoneyStrands, the B2C application of Strands PFM, currently available in the United States.[10][11]

Operations

From its Barcelona HQ and offices in Miami, Buenos Aires and Kuala Lumpur, Strands serves financial institutions including Barclays, Deutsche Bank, BBVA, BNP Paribas, Huntington National Bank, Commercial Bank of Africa (CBA), Bank of Montreal (BMO), and PostFinance among others.

References

  1. ↑ Strands. "Strands continues its global expansion in the United States". www.PRNewswire.com. Retrieved 31 August 2017.
  2. ↑ "Apple Acquires 32 Patents Possibly Covering New Apps". Patently Apple. Retrieved 31 August 2017.
  3. ↑ Finextra (6 June 2017). "Mobey Forum launches new workgroups on open banking, virtual currencies and m-commerce". Finextra.com. Retrieved 31 August 2017.
  4. ↑ "RecSys 2007 (Minnesota) – RecSys". recsys.ACM.org. Retrieved 31 August 2017.
  5. ↑ https://www.americanbanker.com/news/banks-play-catch-up-in-fintech-for-small-business-clients?platform=hootsuite
  6. ↑ "MoneyStrands Wins Webby Award for Best Banking Website". prweb.com. Retrieved 31 August 2017.
  7. ↑ https://finance.strands.com/wp-content/uploads/2014/08/Strands-BBVA-case-study-July-2009.pdf
  8. ↑ "Caught in the middle". The Economist. ISSN 0013-0613. Retrieved 4 July 2016.
  9. ↑ "Strands Powers the First European CLO Implementation - Strands Finance". Strands.com. 14 June 2017. Retrieved 31 August 2017.
  10. ↑ "The best apps to help keep your spending on track". USAToday.com. Retrieved 31 August 2017.
  11. ↑ Español, Entrepreneur en (23 August 2017). "Las 5 apps que necesitas para poner en orden tu dinero". Entrepreneur.com (in Spanish). Retrieved 31 August 2017.
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