Source: Project Imagine
Project Imagine today announces the launch of Pi1, the cloud-based digital banking services platform that runs the consumer app Dozens, now made available to banks and fintechs globally.
Dozens launched on UK app stores in January 2019 and has since onboarded over 20,000 customers and processed over £50 million through its platform Pi1.
Pi1, the platform behind Dozens’ complete offering from payments to wealth, integrates multiple, best-in-class fintech solutions into a single API, and comes with an advanced analytics platform.
For most financial institutions, despite heavy investment, modernisation remains insurmountably complex. The Pi1 platform and its modular offering will allow banks and fintechs alike to plug into the services they wish to create or upgrade, allowing them to focus on what makes their product unique.
Founder & CEO, Aritra Chakravarty said “We made a big decision at the beginning of our journey not to whitelabel, which allowed us to create a completely new way for our customers to interact with money. We’re really excited to now be able to offer access to the platform that runs Dozens to banks and fintechs across the globe looking to reduce time and resources spent on modernising their stack, and instead get to focus on what matters most to them”.
With Pi1’s data platform, banks and fintechs can see a customer’s entire lifecycle, from the ad that attracted them to their current product use and their customer service history, at any point in time. To offer this complete view of the customer, the platform combines operational data with over 30 other data sources, enabling advanced analytics and machine learning.
Technology innovations include the ability to KYC customers in 90 seconds, as well as integrations to multiple third-party providers. All of this is modular, and fully customisable.
The user experience available through Pi1 include Dozens’ unique budgeting which recalculates every day what the customer can spend the next day, smart saving rules through an integration with IFTTT so customers can save every time it rains or someone tweets, a visual map for customers to see not just how much, but where and when they spend, and a swipe-able suitability assessment for investments.
Dozens, Project Imagine’s consumer offering combines a current account, budgeting and savings tools and investment manager all in one app.
Project Imagine the parent company of both Dozens and Pi1 is not a bank, but licensed as an emoney institution and an investment firm.