Bankers Serving to Bankers Fund Invests in Digital Buyer Engagement Specialist Agent IQ

• Agent IQ secured a strategic funding from the Bankers Serving to Bankers Fund (BHB Fund).
• The digital buyer engagement innovator demoed its know-how at FinovateFall 2022 in New York.
• The BHB fund launched in 2022 to present neighborhood banks wider publicity to a spread of modern fintechs.

Phrases weren’t disclosed. However the Bankers Serving to Bankers Fund (BHB Fund) made a strategic funding in digital buyer engagement options supplier Agent IQ this week. The capital provides to the $18.5 million in fairness funding Agent IQ has raised by way of earlier seed and Collection A rounds.

“This funding is consultant of Agent IQ’s dedication to serving to FI’s foster deep and significant buyer relationships whereas additionally assembly the digital calls for of right now’s clients,” Agent IQ CEO and co-founder Slaven Bilac stated in a press release.

Agent IQ provides an AI-enabled answer, Lynq, that improves communication between monetary establishments and their clients. The platform allows clients to make fundamental queries, corresponding to requesting a routing quantity, in addition to extra refined requests, corresponding to assist in depositing a test. Lynq additionally permits clients to talk with a human agent at any cut-off date in the course of the engagement. By way of a “banker carousel” with transient bios and profile footage, Lynq clients can select and have interaction with a private banker to rapidly discover the human help they want.

FIs utilizing Agent IQ’s know-how have reported a discount in name heart quantity of 29%. Moreover, these clients even have famous that Lynq’s configurable, self-service know-how is dealing with greater than 80% of incoming conversations.

“Our staff seems to be ahead to empowering extra neighborhood banks with data-driven know-how and the flexibility to permit relationship banking to thrive within the digital world,” Bilac added. “We’re excited to be part of the BHB Fund because the group helps extra neighborhood banks overcome their shared challenges, function extra effectively, and uncover new sources of revenue.”

The BHB fund launched in 2022. Latitude38 Enterprise Companions manages the fund in partnership with IBAT Companies, Inc. and banking market intelligence and advisory agency, FedFis. IBAT Companies is a subsidiary of the Unbiased Bankers Affiliation of Texas (IBAT). The objective of the fund is two-fold. First, the fund seeks to present neighborhood banks publicity to a spread of fintech investments able to boosting progress, enhancing efficiencies, and enhancing competitiveness. Second, the fund provides the potential for outsized enterprise capital returns uncorrelated to conventional financial institution operations.

Latitude38 Enterprise Companions Managing Associate Richard Leggett praised Agent IQ as a really perfect match for the fund’s funding thesis. In a press release, Leggett famous that it was essential for neighborhood banks to leverage know-how to drive digital engagement. Agent IQ, which most not too long ago demoed its platform at FinovateFall final yr, provides know-how that does simply that.

Agent IQ’s funding information comes within the wake of a serious new rent. In April, Agent IQ appointed fintech veteran Ruthann Paulin Glyman as EVP, Head of Partnerships and Strategic Alliances. Glyman brings along with her greater than 15 years of monetary companies business expertise to the job. Earlier to her transfer to Agent IQ, Glyman was Director of Gross sales at Array, one other Finovate alum.

Agent IQ is headquartered in San Francisco, California. The corporate was based in 2015.

Photograph by Daria Obymaha

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