FinovateSpring 2011 / BillShrink
Presenter Profile:
How they describe themselves: BillShrink started with a vision of simplifying the myriad of available product and service offerings to help people save money on their every day bills. Leveraging deep roots in banking and technology, the BillShrink team delivers on that vision with StatementRewards. With StatementRewards, financial institutions increase loyalty and card usage by delivering personalized, in-statement bill analysis and purchase rewards to customers directly within the trusted bank environment.
How they describe their product/innovation: At FinovateFall 2010, BillShrink’s technology revolutionized bank statements, allowing transactions to come alive with actionable advice and savings. This time, BillShrink will introduce an exciting new innovation that delivers increased value to the customer’s bank statement and makes the bank and its offerings an even more indispensible tool in our daily lives.
Contacts:
Bus. Dev. & Sales: Casey Newton, VP Sales, casey@billshrink.com, 415-322-8475
Press: Matthew Mirandi, Press Relations, pr@billshrink.com, 917-338-4933
Website: corp.billshrink.com
HQ Location: Redwood City, CA
Company Founded: June 2007
Product Being Demoed: StatementRewards
Product Launched: May 2010
Metrics: BillShrink currently has 20 employees and has raised $9M in funding. With the launch of StatementRewards in the fall of 2010, BillShrink brings the power of its transaction analysis platform directly to users within their online bank statement. The new product offers bank customers incentives from their favorite merchants and personalized bill analysis directly within users’ online bank or credit card statement. BillShrink is working with the country’s leading financial institutions and merchants and has announced partnerships that will make StatementRewards available to more than 7 million online bank customers this year.
- Key Executives
Schwark Satyavolu (Co-Founder & CEO), Samir Kothari (Co-Founder & VP Products)
Key Stats
- Key Board Members
Gus Tai (General Partner, Trinity Ventures), David Cowan (Managing Director, Bessemer Ventures), Anil Arora (President & CEO of Yodlee), Schwark Satyavolu (Co-Founder & CEO, BillShrink)
- Key Investors
Gus Tai (General Partner, Trinity Ventures), David Cowan (Managing Director, Bessemer Ventures)
- Key Partnerships
With recent announcements of strategic alliances, BillShrink’s StatementRewards will be available to more than 7 million online bank customers across the U.S. StatementRewards generates a new revenue opportunity that is helping financial institutions to create consumer-friendly revenue to offset losses resulting from recent regulatory changes. Flexible integration options allow financial institutions to take this offer to market quickly with a single line of Javascript, while also offering the flexibility of an API-based integration.