FinovateSpring 2024 / Ascent Platform
Presenter Profile:
How they describe themselves: “Let’s add more silos in our institution” said no one, ever.
Ascent is the next-generation Point-of-Sale platform that streamlines financial product applications and forms without disrupting existing systems or processes. Use Ascent for virtually every product app and form. With each one deployed, customers enjoy a consistent interface and experience. And with each application they complete, Ascent learns more about them, pre-filling more questions and improving the process; every experience is better than the last!
How they describe their product/innovation: Ascent sits across existing systems/silos to provide modern, easy-to-use, and consistent experiences for any product application or form. FIs can deploy using their no-code builder in days, with included templates:
- Consumes third-party data (banking, accounting, tax, etc.) to pre-fill applications
- Can apply rules/logic to pre-screen applicants
- Flows into FI enterprise systems (core, LOS, payments, etc.) to review and board product
- Ascent learns more about the customer with each interaction and reuses information to improve subsequent applicant experiences
Product distribution strategy: Through financial institutions
Credit Union/Community Bank Fit: Credit Unions, Community Banks
Contacts:
Bus. Dev. & Press: Glen Fossella (Head of Customer), glen@ascentplatform.io, 617-335-2181
Website: ascentplatform.io
LinkedIn: linkedin.com/company/ascentplatform
X: @ascentplatform
HQ: New York, NY, USA
Founded: January 2002
Product Demoed: Next-gen Point-of-Sale platform that streamlines virtually any financial product application without disrupting existing systems or processes.
Metrics: $5.3M in total funding, team of twenty FTEs, live with three clients:
- Top 50 CU using Ascent for business loan, LOC, auto, & credit card origination
- Fintech providing business loan origination services to community banks
- Large CUSO providing commercial loan origination and servicing to approx 100 CUs
Presenters: Glen Fossella – Head of Customer, Ascent Platform | Nahom Yimam – Product Manager, Ascent Platform
- Key Executives
Arjun Sahgal (Co-Founder & CEO), Allan Boyd (Co-Founder & COO). Glen Fossella (Head of Customer)
Key Stats
- Key Board Members
Angus Davis (Partner, Foundation Capital), Arjun Sahgal (Co-Founder & CEO), Allan Boyd (Co-Founder & COO)
- Key Investors
Investors, Trustage Ventures, Foundation Capital, Grasshopper Bank, Reseda Group, Alloy Labs
- Key Partners
Bryan Clagget (Jamestown Associates), Kirk Kordeleski (PARC Street Partners), Randolph Bryan (Enterprise Risk Management), Robert Davis (The Bridge Companies)
- Key Customers
Michigan State University Federal Credit Union, Commercial Alliance, Capvia