Bankons (think bank + coupons), a real-time mobile offers service, announced today that Capital One’s IT group, Capital One Labs,* has made a limited asset purchase agreement with the startup to obtain their software.
The relationship started exactly one year ago at the FinovateSpring 2011 conference when Joshua Greenough, former CEO of Bankons, took the stage to show off his his Best of Show-winning mobile offers platform.
“The Bankons team wouldn’t be here without the great people who helped us launch at Finovate. We want to thank the community of technologists and banking professionals who we have worked with over the past year and look forward to future collaboration.”
Capital One, through the limited asset purchase, obtained intellectual property and talent from Bankons for an undisclosed amount (Bankons remains a separate and independent company). Greenough now serves as Senior Director of Capital One’s Technology Innovation in San Francisco.
Capital One states:
“The combination of our Lab and the strengths of the Bankons team will add to the talented Digital Innovation Lab team and help accelerate the Labs innovation and rapid prototyping agenda at our innovation labs.”
Through Capital One Labs, the former Bankons team now has access to Capital One’s customers and will be able to push the innovation forward to 45 million customer accounts– a number, Greenough says, that most startups can only dream about.
Bankons was an early stage technology company located in San Francisco. Founded in the summer of 2010, Bankons’ dynamic team comprised of individuals with many years of experience and expertise in the technology fields. Bankons built an app and platform to help consumers get the best offers via a mobile phone based on using geo-location and purchase history.
*Capital One Labs is a new group that does rapid prototyping, incubation, and testing of product ideas before they are rolled out to customers.