Revio recently announced $2.5 million in Series A venture funding led by BankTech Ventures and EJF Ventures. The funding round will enable Revio to accelerate the adoption of its growth-focused, customer-insights platform. And Revio’s platform enables community and regional financial institutions to identify actionable opportunities to grow relationships and increase customer retention, lifetime value, and profitability.
Revio is a sales and marketing enablement platform that helps banks optimize their operations. And by analyzing customer data using machine learning and data models, Revio could better understand behavior and recommend the next-best product. Revio surfaces opportunities in commercial and retail deposit, loan, credit card, insurance, wealth, treasury management, and merchant services. And sales teams, marketers, and relationship managers can then use Revio’s segmentation to prioritize customer opportunities for personalized outreach and marketing efforts.
Revio already serves community and regional banks nationwide and developed their platform in collaboration with several bank clients, including Sunwest Bank. And the core agnostic technology works with any bank or credit union and integrates with any core system.
Revio complements existing marketing and sales strategies for new customer acquisition by surfacing actionable opportunities within the existing customer base. A recent case study by Revio found $23 billion in expansion opportunities across 16 banks that were included in the study.
KEY QUOTES:
“With the strategic backing of both BankTech and EJF Ventures, we’re in a position to further accelerate our platform development, market adoption, and impact to help community banks enhance competitiveness. This not only brings capital to fuel our growth, but also provides us with partners that have a deep understanding and valuable networks in the banking technology sector.”
- Brian Bauer, CEO of Revio
“Community banks are seeking partners who can help them turn data into actionable information. What Revio is doing is unique. They are putting insight-driven opportunities directly into the hands of the people at the bank who can take specific steps to grow customer relationships. We’ve seen this in action, too, as one of our bank partners spent the time to pilot Revio and is now live with the product, already showing revenue and deposit growth. That was a contributor in our investment decision, and now that bank will be a great use-case example for other banks in our fund.”
- Carey Ransom, Managing Director at BankTech Ventures
“Our partnership enables Revio to scale an important solution for community and regional banks that help financial institutions thrive. Revio’s focus on revenue and deposit growth is exactly what many institutions are looking to partner on, especially in this environment.”
- Jonathan Bresler, Managing Partner at EJF Ventures
