Linqto Launches Otter App Delivery Platform
Patent-Pending SaaS Application Brands New Fintech for Banks and Credit Unions
SAN FRANCISCO, Oct. 6, 2015 /PRNewswire/ -- FinDEVr -- Today Linqto launched Otter, a new patent-pending software platform that allows banks and credit unions the opportunity to quickly brand and adopt new Fintech. Application vendors seeking a way to monetize and gain traction for their apps can now allow 10,000 banks and credit unions to sponsor or brand their apps for recurring monthly revenue. And banks can now adopt new technology with no long-term contract.
The top 5 banks have half the market, and can afford to build their own software. The other ten thousand banks and credit unions purchase their digital solutions from third party vendors. They are handicapped by an obsolete delivery process with a one year presentation cycle and three to five year contracts tied to the chosen vendor.
Linqto is the only company that provides the delivery of new Fintech opportunities as a service. Imagine the flexibility and agile advantage if a bank could go online choose its software and submit. Linqto's "Otter" is an automated software delivery platform. From design to app store submission, the process is easy and fully automated. The Otter platform will act as a true "App Store for Banking and Financial Services" allowing app vendors to sell their products as white–labeled versions to additional clients.
"Bank brands are suffering. The 4 leading banks are among the ten least loved brands," said Bill Sarris, Linqto's CEO. "The Credit Union and Bank execs we are talking with are extremely concerned about how they will generate future business with a generation that is moving away from traditional bank offerings."
The Bank Store, powered by Otter, uses the power of Otter to create a revolutionary new marketplace where banks can brand their software and use it with their customers. Automatically. In an online store. So how will banks brand to a generation that does not watch TV, is advertising averse and is already tainted by the "Too Big to Fail" era they grew up in? The two biggest issues facing the industry today are:
- On the vendor's side: How do we monetize my Fintech App when the competition is free?
- On the banker's side: How do we brand to millennials?
"That's when we realized the answer was staring us in the face," said Vicki Lawrence, Linqto's COO. "What attracts the largest portion of visual attention of millennials? Their mobile screens. More specifically, the icons on their mobile screens. First point of eye contact. The only guaranteed visual in the application flow."
About Linqto
Linqto is a Silicon Valley-based software company specializing in enterprise solutions for the banking and new Fintech applications. American Banker named Linqto one of the Top Ten Tech Companies to watch in 2015. Linqto received the Top Award in the 2015 Monarch Innovation Awards, in previous years awarded to Chase, Wells Fargo, Citi and Bank of America twice. Beginning as a suite of streaming media technologies for Stanford University, Linqto's clients have included Intuit, Digital Insight, NCR, PBS, Obama for America, MacNeil Lehrer Productions, YouGov, Marriott, Stanford and Santa Clara Universities and thousands of small businesses.
SOURCE Linqto
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