- Agent IQ secured a strategic investment from the Bankers Helping Bankers Fund (BHB Fund).
- The digital consumer engagement innovator demoed its technology at FinovateFall 2022 in New York.
- The BHB fund launched in 2022 to requite polity banks wider exposure to a range of innovative fintechs.
Terms were not disclosed. But the Bankers Helping Bankers Fund (BHB Fund) made a strategic investment in digital consumer engagement solutions provider Agent IQ this week. The wanted adds to the $18.5 million in probity funding Wage-earner IQ has raised via previous seed and Series A rounds.
“This investment is representative of Wage-earner IQ’s transferral to helping FI’s foster deep and meaningful consumer relationships while moreover meeting the digital demands of today’s customers,” Wage-earner IQ CEO and co-founder Slaven Bilac said in a statement.
Agent IQ offers an AI-enabled solution, Lynq, that improves liaison between financial institutions and their customers. The platform enables customers to make vital queries, such as requesting a routing number, as well as increasingly sophisticated requests, such as help in depositing a check. Lynq moreover allows customers to speak with a human wage-earner at any point in time during the engagement. Via a “banker carousel” with unenduring bios and profile pictures, Lynq customers can segregate and engage with a personal wholesaler to quickly find the human assistance they need.
FIs using Wage-earner IQ’s technology have reported a reduction in undeniability part-way volume of 29%. Additionally, these customers moreover have noted that Lynq’s configurable, self-service technology is handling increasingly than 80% of incoming conversations.
“Our team looks forward to empowering increasingly polity banks with data-driven technology and the worthiness to indulge relationship financial to thrive in the digital world,” Bilac added. “We are excited to be a part of the BHB Fund as the organization is helping increasingly polity banks overcome their shared challenges, operate increasingly efficiently, and discover new sources of income.”
The BHB fund launched in 2022. Latitude38 Venture Partners manages the fund in partnership with IBAT Services, Inc. and financial market intelligence and newsy firm, FedFis. IBAT Services is a subsidiary of the Independent Bankers Association of Texas (IBAT). The goal of the fund is two-fold. First, the fund seeks to requite polity banks exposure to a range of fintech investments capable of boosting growth, improving efficiencies, and enhancing competitiveness. Second, the fund offers the potential for outsized venture wanted returns uncorrelated to traditional wall operations.
Latitude38 Venture Partners Managing Partner Richard Leggett praised Wage-earner IQ as an platonic fit for the fund’s investment thesis. In a statement, Leggett noted that it was important for polity banks to leverage technology to momentum digital engagement. Wage-earner IQ, which most recently demoed its platform at FinovateFall last year, offers technology that does just that.
Agent IQ’s funding news comes in the wake of a major new hire. In April, Wage-earner IQ appointed fintech veteran Ruthann Paulin Glyman as EVP, Head of Partnerships and Strategic Alliances. Glyman brings with her increasingly than 15 years of financial services industry wits to the job. Previous to her move to Wage-earner IQ, Glyman was Director of Sales at Array, flipside Finovate alum.
Agent IQ is headquartered in San Francisco, California. The visitor was founded in 2015.
Photo by Daria Obymaha
