Among fintech companies, there is often a common thread. Many began with the needs of a vertical in mind. Then they create a solution from the ground up that meets those needs.
Usually, however, the people who develop software for these companies are already programmers.
Not so with Mindbody, the software company that caters to health, beauty and wellness businesses.Read More
As President Obama leaves office and Donald Trump prepares to take the reins, a Republican Congress has declared repealing Obamacare to be one of its top priorities. But what that will entail and what the resulting healthcare system will look like is anyone’s guess at this point.
With so much uncertainty in the health care market, you might expect Eugene Sayan, the CEO of PF Softheon, whose platforms are used by insurers and health plan exchanges to market products to and accept payments from consumers, to be worried. You would be wrong.Read More
Typically, growing businesses are advised to develop expansion plans and stick to them. But sometimes you have to go where your customers lead you.
Being open to new verticals is one of the ways MemberPlanet has evolved from one college student with an idea for dramatically improving the financial management of his fraternal organization to a company that serves more than 13,000 nonprofits, faith-based organizations, alumni organizations, parent-teacher associations, and even the U.S. Air Force.Read More
Healthcare in the U.S. is a complicated mix of people and organizations both large and small. Patients navigate through small practices and large healthcare systems as well as individual and employer-provided insurance. Further adding to the complications are very specific regulations protecting patient data and the need to protect the patients’ payment information.
As a payment facilitator, InstaMed strives to connect those disparate parts through a single network. The company claims to connect more than two-thirds of the healthcare market and process tens of billions of dollars a year in healthcare payments.Read More
Paying rent is one of the last—and largest—vestiges of paper-check-writing in the U.S. and it’s also remarkably inefficient. Combine that with the fact that rent is often one of the largest monthly costs for the country’s roughly 100 million tenants and it’s easy to see why Yapstone has focused on rent payments as one of its most critical verticals.
“We want to focus on multi-billion-dollar opportunities,” said Yapstone President David Weiss.It’s also important to remember that paying that monthly rent bill is only one part of the tenant—and landlord—financial reality. By selling the service to both apartment dwellers and apartment managers, Yapstone has the perfect audience for a group of services that make the rental process easier and therefore more profitable. “We’re offering a whole range of value-added services such as credit reporting, renters’ insurance that follows that resident from unit to unit,” Weiss said. “This is a powerful series of products that enable us to tap into a $400 billion to $500 billion market.”Read More
Pity the poor standalone parking meter, nestled between communities’ sidewalks and streets. A dozen years ago, five million were scattered across the U.S.. Today, according to the International Parking Institute, no one even bothers to count them any more. New York City is preparing to abandon its 85,000 meters to a PF-fueled mobile system, joining Los Angeles, Boston, Washington, D.C., Atlanta, Indianapolis and Pittsburgh with similar plans.
The movement is hardly surprising. Many of those metal poles could only handle coins and retrofitting them for magstripe—let alone EMV or NFC—is expensive and short-sighted. To get much of the money from those poles requires a municipal employee/contractor to physically move from pole to pole. The system for fining those who disobey the parking rules is equally inefficient. Enter Jon Ziglar, the CEO of PF Parkmobile, whose company is behind many of those municipal parking meter obliteration efforts. His vision is far cleaner. A mobile app pays for the space and can even text a driver when the time is about to run out. But this gets better. Parkmobile is in pilots today with Ford and BMW to integrate the app directly into cars. Marry the efficiency of a mobile app with a smartcar that can park itself and parking takes on a delightfully 21st Century shine.Read More