Micronotes Company Research Report
Company Overview
Name
Micronotes Inc.
Mission
Reimagining the way financial institutions interact with their customers/members to improve loan booking, deposit growth, and customer retention through personalized, AI-driven engagement.
Founded
- Year: No information available
- Founders: Tech entrepreneurs Kinkead and Klacko from MIT
Key People
- Joe Heller - President & CFO
- Parker Steed - VP Sales
- Ömer Yurtsever - VP Product
- Andres Pardo - CIO
- Chris Frein - Customer Success
Headquartered
Boston, Massachusetts, USA
Number of Employees
No information available
Revenue
No information available
Notable Reputation
Micronotes is known for using big data, AI, and automation to help financial institutions identify and respond to customer needs, thus growing deposits, booking loans, and increasing retention.
Products
Micronotes Cross-Sell™
Description
Uses bank-held data, analytics, machine learning, and microinterview engagement technology to increase deposits, eService adoption, and customer retention.
Key Features
- Integrated with leading mobile and online banking systems
- 26 times the click-through rate of banner ads
- Cuts deposit leakage
- Enhances e-service adoption and usage
- Improves Net Promoter Scores and retention
Micronotes Digital Prescreen™
Description
An always-on credit marketing solution that uses bank-held data and Experian’s credit database to help financial institutions expand wallet share by making personalized firm credit offers to existing account holders.
Key Features
- Combines account-holder data, underwriting criteria, and rate sheets
- Utilizes Experian credit database containing ~230MM records
- Delivers financially personalized credit offers automatically
Micronotes Prescreen Acquire™
Description
The first credit marketing platform for community financial institutions focused on acquiring new accounts in their service area by delivering hyper-personalized, FCRA-compliant firm offers of credit to creditworthy prospects.
Key Features
- Utilizes 230MM consumer credit records
- Combines underwriting criteria, rate sheets, and geo-targeting
- Higher response rates through personalized email and direct mail firm offers
Recent Developments
New Products Launched
No information is available
New Features Added to Existing Products
No information is available
Partnerships
No information is available
General Developments
- Micronotes emphasizes continuous customer feedback, using real-time data and machine learning to enhance predictive models.
- The company's products are pre-integrated into major mobile and online banking platforms, providing seamless implementation.
- Micronotes maintains a cloud-based solution ensuring low maintenance burden for financial institutions.
Customer Testimonials
- Brant Welch, Farmers National Bank: Praised the tools for fostering personal relationships through Micronotes surveys.
- Dianna B. Land, Springs Valley Bank & Trust: Highlighted the partnership's alignment with their brand's long-term relationship focus.
- Timothy Broyles, Clear Mountain Bank: Noted that Micronotes plays a crucial role in bridging their digital segment with branch network efforts.
Summary
Micronotes Inc. leverages big data, AI, and machine learning to help financial institutions better understand and engage their customers. From increasing deposits to booking loans and boosting retention rates, their suite of products offers advanced technological solutions that integrate seamlessly into existing banking platforms, driving substantial value through personalized communications and automated processes. Privately held and headquartered in Boston, Micronotes continues to innovate in the realm of financial technology, aiming to build stronger, more personalized relationships between banks and their customers.