How they describe themselves: Linqto provides the delivery of new mobile FinTech software as a service. The App Store for Banks is powered by Linqto’s “Otter” a patent pending software delivery platform. From design to app store submission, the process is easy and fully automated. Imagine the flexibility and agile advantage if a credit union or bank could go online, choose from a storefront the new app to try and submit. The App Store for Banks creates a revolutionary new marketplace where banks and credit unions can brand new software and use it with their customers.
How they describe their product/innovation: The largest generation in history is moving away from traditional banking. 71% would rather go to the dentist than listen to what banks are saying. Twenty thousand banks and credit unions purchase their digital solutions from third party vendors. Ten vendors control 81% of this traditional market. These financial institutions are handicapped by an obsolete delivery process with a one year presentation cycle and three to five year contracts tied to the chosen vendor. And they are limited from adopting the latest third party FinTech if their vendor does not provide it. Thousands of free FinTech apps currently in the App Store will still be free to the consumer as FIs pay for branding and usage rights.
Product distribution strategy: Through financial institutions, through other fintech companies and platforms, licensed