fisoc, an Austin, Texas-based provider of a web-centric platform that uses big data analytical tools to enable regional and local banks and credit unions to offer rewards, has received a venture capital investment.
Backers include Greycroft Partners and initial investors Daylight Partners and Angel Investors.
The amount of the funding was not disclosed.
Founded in June 2010 by a team of banking and social media experts fisoc and led by CEO Jay Valanju, CTO Daniel Kim, and Executive Chairman John Burns, fisoc aims to develop and provide products that regional, local bank and credit unions can use to target consumers through social engagement and merchant rewards programs. It helps financial institutions increase transactions, improve account balances, and grow loan demand as they attract new customers.