FinovateFall 2024 / Fin3 Technologies
Presenter Profile:
How they describe themselves: Fin3 is a trailblazer in the digital payments space and invented a new payment method – Digital Drafts – based on changes to payment law, specifically UCC Article 12. We’re focused on reducing check fraud and creating operational efficiencies at FIs and SMBs. Fin3 is already integrated into the core of Jack Henry, FIS, FISERV & more based on customer needs.
How they describe their product/innovation: Fin3 is showcasing Digital Drafts to prospective FIs, insurance companies and other users of physical checks (drafts):
- Replacement to today’s Physical Checks
- All of the legal benefits of a check, but 100% digital
- Safe, Secure, More Flexible
- Integrated with Bank Core Software
- Provides Full Control & Transparency
- Payors Can Transfer Ownership to Payee 24/7/365
Product distribution strategy: B2B, through FIs, fintech companies and platforms, licensed
Credit Union/Community Bank Fit: Credit unions and community banks
Contacts:
Bus. Dev.: Jeff Manchester, jeff.manchester@fin3.tech, 203-556-0205
Press: Albert Szmigielski, albert@fin3.tech, 833-363-8324
Website: fin3.tech
LinkedIn: linkedin.com/company/fin3-technologies-inc
HQ: New York, NY
Founded: November 2021
Product Demoed: Digital Draft – Modern Payment Solution for Checks
Metrics: Fin3 is a startup with $2.5M in a Seed round in April 2023. Founded in 2021, NYCA Partners & Motivate are Fin3’s seed round investors. Pre-Revenue. 10 employees. With changes to payment law, the team is focused on commercializing our Digital Drafts product (Provisional Patent pending) and plan to be in market Q42024 with pilot partners, including Core Bank of Nebraska.
Raising Funding: Seed
Presenters: Jeff Manchester – Head of Partnerships & Business Development | Adam Yarnold – Co-Founder & Head of Strategy
- Key Executives
Albert Szmigielski (CEO, CTO & Co-Founder), Adam Yarnold (Co-Founder & Head of Strategy), Alan Blackburn (COO), Jeff Manchester (Head of Partnerships & Bus. Dev.)
Key Stats
- Key Board Members
Adam Yarnold (Co-Founder), Alan Blackburn (COO), Scott Anderson (Head of Product & Partnerships, Stak), Tom Brown (Partner, NYCA Partners)
- Key Investors
NYCA Partners, Motivate Capital
- Key Advisory Board Members
Charlie Wilson (Stripe), Scott Freidenrich (EY), Ryan Nier (Nova Credit)
- Key Partners
Jack Henry, Core Bank
- Key Customers
Core Bank