9 companies making 'analytics' prime time in payments

Lets get to the brass tacks straight away. Given first are 7 companies that are offering Analytics as a solution to payments and commerce companies:

Affinity Solutions: Established in 1998, Affinity Solutions is currently led by Jonathan Silver (President & CEO). The company has managed to raise $35.5 Mn in funds since its inception. Affinity Solutions claim to have grown as a leader in card-linked offers and transaction-enabled marketing space. Its analytics offerings are aimed to increase customer loyalty and consumer spend by providing the right offer to the right consumer at the right time and through the right channel. Read more

AGILE Customer Insight: Based out of London and established in November, 2011 AGILEci is currently headed by Darren Odie (CEO) and Samantha Giotti as Board Director. AGILEci automates payments data analytics to put affordable actionable insight into the hands of retailers. Drive sales and profits through better business and customer understanding. Read more

Cardlytics: Scott Grimes (CEO & BOD) found Cardlytics in 2008. Cardlytics has offices in USA and UK. Cardlytics has been able to secure over $18 Mn in funding since 2008. Cardlytics gives a 360 degree view of the customer purchase behaviour. Their offerings are built upon historical consumer purchase information, provided securely by its premier network of nearly 400 financial institution partners. Through its offerings Cardlytics claims to solve a question posed by businesses which is what share of your customer’s wallet do you capture? Read more

CardSpring: Headquartered at San Francisco, California, CardSpring Inc was established in 2010 by former Netscape Engineers. CardSpring has collectively managed to raise $10 Mn in funds since its inception. CardSpring recently launched, CardSpring Connect. A new service bringing the power of mobile & internet performance marketing as well as analytics tools to local merchants’ existing PoS. Connect simplifies processes for local merchants to engage with leading publishers to create online-to-offline promotions driving new customers, repeat purchases, and greater spend at their stores.

Crowdtwist: Based in New York City’s Silicon Alley, Irving Fain (CEO) found Crowdtwist in August, 2009. The company has managed to raise $6.75 Mn in funds since its inception. Crowdtwist provides omni-channel loyalty & analytics solutions. The company claims to offer analytics solutions which help companies to measure customer engagement, customer social influence and customer spend.

ERN: Headquartered in London, Dan Brassington (CEO) found ERN in August, 2011. ERN since inception has managed to gather $5.6 Mn in funds. ERN claims to provide the payment eco-system (which include banks, merchants, payment processors, & consumers) tools to see, manage, analyse and create valuable actionable insights.

Feedzai: Found in November, 2008 Feedzai is headed by Nuno Sebastião (CEO) and Paulo Marques (CTO). Since inception Feedzai has raised $4.47 Mn in funds from investors. Feedzai provides a Fraud Prevention Software that claims to employ big data analytics which prevents fraud with lowest percent false positives. This is quite different from the other firms you see in the list (mostly around marketing, ads, CRM kind of analytics). Read more

Womply: Toby Scammell and Jeremy Richardson found Womply in 2011. Womply claims to create value for merchants by analyzing revenue, social media and merchant online reputation. Through Womply’s services, merchants can identify, understand and engage their customers and increase revenues through customer loyalty. Read more

Most of the payment companies I have talked to, in last couple of years are using analytics in some capacity or the other. Some of them are really building analytics into their products and solutions itself. Example below:

Swipely: Swipely, a Rhode Island company, was established in 2009 by Angus Davis. They received $1 Mn, Angel funding in 2009. In 2010 Swipely acquired $7.5 Mn through investors. The company further received $7.5 Mn in series B funding in May, 2013 bringing their total up to $20.5 Mn. Swipely claims to be an easier way for local merchants to accept payments, understand customers and grow revenue with valuable analytics, loyalty and marketing tools. It integrates the existing POS at merchant site with internet to capture transactional data which is later used to give meaningful customer insights using analytics.

LTP View: CRM, marketing, adverts, offers related analytics is already becoming a huge field within payments and commerce. Payment and card companies are embracing analytics for providing more value to merchants and reaching out to end customers. It will be interesting to see how analytics can also be used for making fraud detection and prevention increasingly better. There are real threats out there which are getting bigger and worst. Similarly some innovative startups are also looking at solving other operational level issues as well in the payment value chain.