Take a look at the key highlights of our leadership conversation with the SME Finance Forum
Strands is now a CRIF company. By joining forces, we will create a new provider of digital solutions for Open Banking, which will set a higher standard in the access-to-account setting, account aggregation, and AI-powered BFM and PFM solutions.
In an interview with the SME Finance Forum, CRIF’s General Manager, Enrico Lodi, and Strands’ CEO, Erik Brieva, discussed the strategic fit between both companies, and how teaming up will make a difference for the financial services industry.
Here are the top 5 takeaways from the interview, which you can read in full here.
Investing time to build trust pays off
“CRIF and Strands had already developed a fruitful collaboration, which allowed a thorough evaluation of the tangible benefits and synergies that the transaction could create for both parties. This acquisition will produce significant added value, as it allows us to bring in-house the relationship with a key provider for some of our most innovative solutions, but also because it brings a significant portfolio of worldwide customers, enabling us to create cross-selling and upselling opportunities. ” Enrico Lodi, CRIF’s General Manager
Perseverance and optimism are pivotal, especially during a crisis
“The acquisition was finalized at a time when the entire economy is experiencing a significant shutdown due to the Covid-19 emergency. Both companies kept thinking in the long term, convinced that this deal would strengthen Strands and the CRIF group. The world is going through a rocky patch, but both parties worked hard to make sure the operation didn’t fall apart. This is a demonstration of the power of true digital companies.” Erik Brieva, Strands’ CEO
Strategic partnerships drive strong business growth
“CRIF has been able to expand its portfolio of digital customer journey solutions: these include, in particular, personal and business finance manager (PFM and BFM) solutions which will enrich the digital offering of banks and financial institutions. The fact that Strands has a presence in some very interesting markets, including Latin America, where CRIF had only a marginal presence, provides us with additional opportunities for growth. ” Enrico Lodi, CRIF’s General Manager
Providing SMEs with smart financial management solutions is pivotal
“The effective and efficient management of cash flow, liquidity, invoice payments, balancing funds between different current accounts, and controlling expenditure through categorized budgets is more important today than ever, including in making a more informed assessment of how to deal with critical situations such as those generated by the current health emergency.” Enrico Lodi, CRIF’s General Manager
Through collaboration, our mission is stronger than ever
“Our mission is to enable banks to anticipate customer needs and proactively suggest next-best-actions, and we are excited about this opportunity to continue delivering on that promise. By combining Open Banking with Artificial Intelligence, we help financial institutions to enrich their customer insights, offer very personalized products, and also trigger smart services provided by third parties, thus reaping the benefits of a more engaged relationship with their customers.” Erik Brieva, Strands’ CEO
If you are interested in finding out how Strands can help your bank, or if you would like to get a Free Demo of our AI-powered Financial Management solutions, please fill out this form and one of our Sales Reps will get back to you as soon as possible.
