16
Mar

Sensibill Recognized by FinTech Breakthrough Awards Program for “Personal Finance Innovation Award”

TORONTO – Sensibill, the leading provider of everyday financial tools and SKU-level insights, today announced that it has been selected by FinTech Breakthrough as the winner of the “Personal Finance Innovation Award.” Sensibill joins leading companies, technologies and products in the global fintech market today as part of FinTech Breakthrough’s fifth annual awards program led by FinTech Breakthrough, an independent market intelligence organization.

Sensibill was an early pioneer in harnessing SKU-level data, breaking through the market with its innovative digital receipt and expense management solution that allows consumers and businesses to track spending, make returns and exchanges, submit warranties, and better manage their financial health. This level of data has enabled institutions to uncover deeper, more meaningful information about their customers, such as preferences, brand loyalties, life stages and timely financial needs. The company recently introduced its Sensibill Platform, a comprehensive platform complete with spend management, receipt management, and expense management capabilities – all embedded within the financial institution’s mobile and online banking applications. Its platform makes SKU-level data much more actionable than ever before, delivering on the company’s mission to make financial wellness attainable for all.

“The need for financial institutions to better know their customers and help them manage everyday spending has never been greater and Sensibill is empowering institutions to finally get personalization right,” said James Johnson, Managing Director of FinTech Breakthrough. “By harnessing Sensibill’s SKU-level data to deliver tailored experiences and advice, the enhanced customer experience builds loyalty and fuels growth while also helping customers’ hard-earned money go further. Our sincere congratulations to Sensibill for their well-deserved success and industry recognition with this award.”

“We strongly believe that with relevant financial resources and tools, anyone has the ability to become their best financially,” commented Corey Gross, Co-founder and CEO of Sensibill. “Our comprehensive platform is available to financial institutions of all sizes, because just like consumers, there shouldn’t be a limit to who can provide or receive the tools to achieve financial wellness. Not only is winning the FinTech Breakthrough award a testament to the technology and partnerships we’ve built, but a call to the industry to make financial wellness and personalization a priority – not another line item.”

About FinTech Breakthrough

Part of Tech Breakthrough, a leading market intelligence and recognition platform for technology innovation and leadership around the globe, the FinTech Breakthrough Awards program is devoted to honoring excellence in Financial Technologies and Services companies and products. The FinTech Breakthrough Awards provide public recognition for the achievements of FinTech companies and products in categories including Payments, Personal Finance, Wealth Management, Fraud Protection, Banking, Lending, RegTech, InsurTech and more. For more information visit FinTechBreakthrough.com.

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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.