FIntegrate’s CEO, Kris Bishop, recently sat down with A.J. O’Leary of the Birmingham Business Journal for an interview! Read on to dive into the latest insights.
FIntegrate has grown from just handful of employees in 2021 to roughly 20 heading into the new year. Now, on the heels of a major partnership with Computer Services Inc. (CSI), Bishop, FIntegrate’s CEO, said he hopes the firm will grow to roughly 40 employees next year.
“Basically we’re taking multiple disparate data feeds and putting them into the CSI product for CSI,” Bishop said.
The partnership entails extracting, translating and loading data and allows CSI products to detect fraudulent transactions earlier and more reliably.
In the year ahead, Bishop said FIntegrate would most likely be adding staff in sales and marketing, business development and development.
“We are hiring a lot of remote people, but because Birmingham was such a large financial/fintech hub for so many years, there’s a lot of great developers and implementation people with banking and fintech product knowledge here in town,” he said.
Bishop said layoffs in the fintech sector have made more potential hires available.
“We’ve seen a lot of good people come on the market that are needing jobs,” he said.
FIntegrate’s clientele has also evolved in the last two years.
“We were primarily focused on selling to credit unions with a probably 25% focus in banks,” Bishop said. “That’s switched completely now with the advent of our Fusion DMS for dispute management, because all banks and all credit unions obviously have transactional disputes with fraud going through the roof.”
Bishop said FIntegrate’s dispute management system greatly broadened the sizes of institutions it can serve.
“Since 2021, we have actually added, for our collection and recovery system, one of the top 10 credit unions in the country — top 10 in asset size — in the country, as well as a $200 billion bank,” Bishop said.
Bishop said banks have told him some FIntegrate products reduced manual processing time by as much as 80%. Some automation the firm provides offers as much as a 30% financial improvement in the fraud management process.
Bishop said FIntegrate is using AI to identify delinquencies or potential delinquencies before they happen to prevent an individual from missing a car payment or house payment.
Bishop said FIntegrate also added text alerts click-to-pay functions to its collection and recovery systems.
“We’re really focused on the automation and the integration part of how do we serve customers better through technology,” he said.
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