26
Jan

Leaders Credit Union goes live with Sensibill for digital receipt management


Sensibill’s digital receipt management solution supports Leaders Credit Union’s mission to help members strengthen financial health.

The entire team here at Sensibill is excited to announce that the Jackson, Tenn.-based Leaders Credit Union has launched our digital receipt management solution to help its members better budget and track expenses, supporting the ultimate goal of achieving financial wellness.

The $520 million-asset credit union leads with a digital-first strategy, partnering with fintech providers like Sensibill to offer value and convenience to its members at no additional cost. Leaders CU prioritizes equipping their consumers and business members with the necessary tools to make smarter financial decisions, from within the institution’s NCR-powered mobile banking app.

Leaders Credit Union recognized that Sensibill’s technology could strategically support this strategy, prompting the partnership. Because of the solution’s wide range of use cases, the credit union plans to leverage the technology to engage with members and non-members alike, with both business and retail services in mind.

As Leigh Anne Bentley, Chief Marketing Officer at Leaders CU, says:

“Providing members with digital resources that deliver value and strengthen their financial health has always been our goal, and that mission is especially important today. Not only does Sensibill provide easy-to-use tools to help members with budgeting, warranties and returns, and taxes, but our members also gain greater visibility into their finances, spending habits, and behaviors, empowering them to make better financial decisions. This solution is a strong addition to our financial wellness program and will benefit members throughout the community.”

The Sensibill solution helps members better prepare for tax season by eliminating the need to use multiple products or tedious manual processes to separate business and personal receipts. Instead, receipts are digitized and made easily exportable and searchable, saving time and reducing stress. In addition to providing convenience to members, Sensibill’s technology enables the credit union to strengthen member relationships, drive engagement, and help members with additional financial resources.

In addition to providing convenience to members, Sensibill’s technology enables the credit union to strengthen member relationships, drive engagement, and recommend relevant products and services based on the SKU-level data derived from digital receipts.

Our Co-founder and CEO, Corey Gross reiterated what Sensibill can help Leaders CU achieve:

“The pandemic has proven that members aren’t planning for their financial futures in years or months, but rather in terms of weeks or even days. By leveraging our technology, Leaders members can eliminate the inefficiencies and headaches of organizing and analyzing paper receipts. At the same time, members can easily and proactively manage their expenses and form healthier financial habits. We are proud to partner with institutions like Leaders that recognize the importance of providing modern, digital tools to strengthen engagement while simultaneously helping members achieve financial wellness.”

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    AI STARTUP RUBIKLOUD TO BE ACQUIRED BY OTTAWA-BASED KINAXIS FOR $81.4 MILLION CAD

    OTTAWA, ON, June 15, 2020 – Kinaxis® Inc. (TSX: KXS), the authority in driving agility for fast, confident decision-making in an unpredictable world, has signed a definitive agreement to acquire Toronto-based Rubikloud, a disruptive, emerging provider of AI solutions that automate supply chain prescriptive analytics and decision-making in the retail and consumer packaged goods (CPG) industries.

    Globally-recognized retailers and CPG manufacturers in the health and beauty, household and grocery segments use Rubikloud’s AI-based products today. Their offerings include demand forecasting and automation to manage and optimize trade promotions, pricing and assortment to drive product demand and dramatically improve financial results. Kinaxis will enhance RapidResponse’s demand planning capabilities with the Rubikloud offerings, anticipating initial opportunities in the company’s rapidly-growing CPG customer base and over time for other industries such as life sciences. The acquisition also offers Kinaxis a springboard into the enterprise retail industry.

    “Rubikloud has capabilities and value that we can offer our CPG customers today, leads us into the retail industry with some bellwether accounts, and adds a group of approximately 80 people to an already-impressive AI and machine learning (ML) team here at Kinaxis. Over time, this enhanced group will contribute to new and existing AI-powered capabilities across the full Kinaxis RapidResponse® platform and applications,” said John Sicard, President and CEO of Kinaxis. “This acquisition reflects the growing importance of AI and ML to power intelligent automation and augment human decision-making to better deliver on customer promises, remove waste and increase resiliency for effective risk management.”

    Rubikloud’s SaaS-based ML offerings empower retail and CPG manufacturers to transform their core operations by improving and automating complex, profit-generating decisions. Rubikloud’s proven AI capabilities and intuitive tools enable users to leverage disparate data sources to improve forecast accuracy, site-level allocations, inventory availability and promotion plans by allowing users to run boundless simulations in real time.

    “We founded Rubikloud with the belief that purpose-built AI could be used to solve some of the most complex industry problems and we have spent the last seven years building a fantastic product that receives validation from global customers every day,” said Kerry Liu, CEO, Rubikloud. “We’re excited at the prospect of joining Kinaxis, which helps us bring our innovations to a much broader customer base at a faster pace than on our own. Not only that, being two strong Canadian companies we see great cultural synergy and look forward to working on the complex problems we know RapidResponse and concurrent planning can solve for customers.”

    Terms of Agreement
    Kinaxis will acquire Rubikloud for US$60 million in an all-cash transaction that is expected to close within 60 days. Based on Rubikloud’s current revenue and expense profile, the company’s fiscal 2020 revenue and Adjusted EBITDA guidance, as reiterated in its May 6, 2020 news release, remains unchanged. The transaction is subject to customary closing conditions.

    About Kinaxis Inc. 
    Everyday volatility and uncertainty demand quick action. Kinaxis® delivers the agility to make fast, confident decisions across integrated business planning and the digital supply chain. People can plan better, live better and change the world. Trusted by innovative brands, we combine human intelligence with AI and concurrent planning to help companies plan for any future, monitor risks and opportunities and respond at the pace of change. Powered by an extensible, cloud-based platform, Kinaxis delivers industry-proven applications so everyone can know sooner, act faster and remove waste. For more Kinaxis news, follow us on LinkedIn or Twitter.