“The Art of the Nudge”
Gregg Hammerman started Larky based on an epiphany: why shouldn’t the organizations we engage with regularly be able to communicate with us at just the right moment?
He recognized that consumer expectations and behavior have evolved, driven not only by the shift to doing things remotely, but also by the strategies of companies that have mastered the digital space—Spotify, Netflix, Amazon.
These platforms provide added value through features like end-of-year reports, movie recommendations based on your watch history, and “like” purchase suggestions, deepening the customer relationship. They sync with your life outside of their platforms.
Larky has taken this idea of blending into a user’s everyday life and run with it. Their functionality easily integrates with mobile banking apps to engage with users at different touch points throughout their day. Using lock screen notifications, Larky can guide people to offers, promotions, local events, and information relevant to their unique needs in that moment.
MSU Federal Credit Union identified a powerful way to use Larky’s technology to engage with their members:
“We have a loyalty program where we work with local merchants who will give you a discount if you use a MSUFCU debit/credit card. Larky helps us remind people to take advantage of those.” —Ben Maxim, Assistant VP of Digital Strategy & Innovation, MSUFCU
People have a lot of options when it comes to banking, and it’s hard to stand out. Larky works with a diverse selection of community financial institutions to help them showcase the unique services they provide. Maxim recognizes the potential for their partnership to expand and innovate, helping them stand apart from the competition:
“Beyond the geolocation and personalization, we’re working with Larky to figure out credit card fraud detection and prevention. Future possibilities are out there. They have an established product, which is great, but what else can we do with them? For one, we’re looking into gamification of different interactions within our digital accounts. Larky is fully open to that, and I look forward to where we might go.
Dell to sell cloud-based iPaaS Boomi in US$4bn deal
Global investment firm Francisco Partners and private equity platform TPG Capital have entered into an agreement with Dell Technologies to acquire cloud-based integration platform as a service provider Boomi in a cash deal valued at US$4bn. The deal is expected to complete this year.
“Boomi has flourished as part of Dell Technologies, growing exponentially since we acquired them in 2010. This proposed transaction positions Boomi for its next phase of growth and is the right move for both companies, our shared customers and partners,” said Jeff Clarke, vice chairman and chief operating officer of Dell Technologies.
“For us, we're focused on fuelling growth by continuing to modernise our core infrastructure and PC businesses and expanding in high-priority areas including hybrid and private cloud, edge, telecom and APEX. All designed to help organisations thrive in the do-from-anywhere economy.”
Dell’s Boomi sell-off follows VMware spin-off
This announcement comes just two weeks after Dell said it would spin-off its 81% equity ownership of VMware to form two standalone companies. This would result in an expected US$9.3bn cash dividend payment to Dell, which says it will use those funds to pay down debt.
When Dell acquired Boomi in 2010 for an undisclosed fee, Boomi offered the industry’s only pure SaaS application integration platform, powered by its revolutionary AtomSphere technology. Dell saw Boomi as addressing one of the top barriers to cloud adoption at that time, which was managing and integrating cloud-based applications with existing applications and databases.
Now, Boomi has more than 15,000 customers globally and is still seen as a leader when it comes to organisations connecting applications, processes and people across a range of locations and devices – a process that can take weeks rather than months.
“I am incredibly proud that through innovation, passion and relentless execution, the Boomi team has created a unified platform for the modern-day hybrid IT landscape that thousands of customers worldwide depend on to digitally transform their business,” said Chris McNabb, chief executive officer of Boomi.
“By partnering with two tier-one investment firms like Francisco Partners and TPG, we can accelerate our ability for our customers to use data to drive competitive advantage. In this next phase of growth, Boomi will be in a position of strength to further advance our innovation and market trajectory while delivering even more value to our customers.”
Francisco Partners has invested in more than 300 technology companies since its launch 20 years ago and has more than US$25bn in assets under management.
“The ability to integrate and connect data and workflows across any combination of applications or domains is a critical business capability, and we strongly believe that Boomi is well positioned to help companies of all sizes turn data into their most valuable asset,” said Dipanjan Deb, co-founder and chief executive officer, and Brian Decker, partner, at Francisco Partners
Nehal Raj, partner, and Art Heidrich, principal, at TPG Capital added: “The need for automation and data integration across applications has never been greater. Boomi's cloud-native platform enables enterprises to streamline business processes and is essential for driving digital transformation.”