Banno: FS Vendors’ Vendor of the Week
What is your company name?
Please give a short bio of your company
Banno (formerly T8 Webware) discovers insights for financial institutions by harvesting behavior-driven banking data from Banno.com-powered websites, mobile banking, account aggregation, and enriched transactions which provide institutions with segmented customer analysis based on anonymized data that can be used for actionable product offerings.
Banno.com architecture is built with Open APIs to allow financial institutions to leverage our technology with their existing digital channels.
When was your company started?
In 2008, Wade Arnold founded Banno.
What is your targeted market?
Banno works with over 320 banks and credit unions throughout the country. We also work hard at building partnerships and creating channel partners.
Who is your competition, and what do you do better?
Our main competitors are established companies like Intuit and Fidelity Information Services. To compete from Cedar Falls, Iowa we simply have to provide a better product.
How many current customers do you have and what is your estimated yearly growth?
At the time of writing this, we currently serve over 320 clients.
What types of products and/or services do you offer?
At Banno, we’ve recognized that the digital channels that have been created offer an exciting opportunity to engage both consumers and financial institutions into new areas of benefits for both. We believe that great technology can leverage this collaborative relationship to aid in better decision-making and reward each side as it becomes even more robust over time. With our Banno.com tools that are under development, we know that behavior-driven banking will empower and change the ways products and services are offered and the benefits that are realized and we plan to be at the forefront of leading this change.
Banno.com-powered websites, mobile banking, account aggregation, and enriched transactions provide institutions with segmented customer analysis based on anonymized data that can be used for actionable product offerings.
How do you see your company in the next 2-5 years?
Lots of growth. All of our 61 staff members are in Iowa, and our expansion into Des Moines, isn’t slowing down. We plan to add at least 25 staff members in that new office, with assistance from the Iowa Economic Development Authority.
How many employees and/or freelance contractors do you currently have?
What has been the biggest challenge you have had to overcome as a company?
Maintaining our culture while going through rapid growth.
What else is interesting about your story?
We’ve headquartered in Cedar Falls, IA and everyone here is on a mission to change the world!
Do you have a blog, Facebook page, Twitter account, etc.?
Posted on August 6, 2012, in FS Vendors, Vendor of the Week and tagged Account Aggregation, API, Banno, FS Vendors, Mobile Banking, Vendor of the Week, Websites. Bookmark the permalink. Leave a Comment.