How they describe themselves: Instnt Inc. is a Public Benefit Corporation on a mission to bring inclusion and instant acceptance to the masses. It is a one-of-a-kind collaborative effort between industry thought leaders, technology vendors and the private and public sector to solve for both sides of the on-boarding problem with a “Stripe for on-boarding” service offering and a new, interoperable Open Trust Protocol to make instant consumer acceptance a global reality.
How they describe their product/innovation: Instnt Inc. is the first risk and compliance liability insured online account opening and on-boarding service for business. Adding a single line of code to websites and apps, businesses can fully outsource their customer on-boarding function, while boosting their top-line revenue and shifting their entire cost of building and managing a risk and compliance stack to Instnt. Also, Instnt will cover related loss liability for up to $100M annually.
Product distribution strategy: Direct to Business (B2B), through financial institutions, through other fintech companies and platforms