FinTech Veterans Join Forces to Disrupt Digital Gifting and IncentivesMay 11, 2016    By : LTP Team
Plano, TX – [Press Release – May 11, 2016] – The way we interact, shop and send gifts is changing. More and more consumers are turning to mobile to help simplify their lives while engaging in unique experiences they can share with friends, families and companies across the globe. Smartphone-assisted commerce, also known as Online-to-offline commerce (O2O), has seen a 40% growth while traditional online shopping or retail shopping have been largely flat. Gift Cards is a $200B industry that is yet to experience the true benefits of today’s modern smartphone and mobile technology where consumer experience is greatly enhanced by contextual and location awareness, data analytics and smarter algorithms. How can retailers, brands, enterprises and solution providers in this industry take advantage of mobile technology and benefit? Will plastic gift cards riddled with fraud and clutter benefit from the enhanced security, tokenization and instant redemption brought about by digitization and go in the same direction as CDs, DVDs and boarding passes?
Deepak Jain, holder of 100+ patents in the area of mobile security and financial technology, and a serial entrepreneur fresh off the heels of a recent acquisition, alongside Robert Sabella, Founder of the NFC Bootcamp, AccelerateNFC and author of NFC for Dummies, have come together to co-found Swych Inc. The Swych Digital Gifting Platform aims to revolutionize the way we look at gifting and incentives by building an innovative digital platform that elegantly modernizes, digitizes and simplifies gifting on the mobile device.
Jain and Sabella teamed up with Anu Shultes, who carries over 20 years of experience in financial services platforms from Blackhawk, Providian and National City to create an all new platform focused on disrupting the gift card and loyalty industry. The platform, which is slated for release this summer, addresses the long-standing issues and complication of current technology solutions, aims to accelerate digitization and security, and effectively uberize gifting.
While the Texas-based company’s mobile app, features and platform still remain under wraps, Swych co-founders Deepak Jain (CEO) and Robert Sabella (Chief Revenue Officer), alongside Anu Shultes (Head of Operations and Strategic Partnerships), will be attending Shoptalk in Las Vegas on May 15, 2016. All three of Swych’s executive staff will be available for interviews May 15 through May 18.
Swych was founded in 2016, and is a financial services startup based in Richardson, TX. The company is a mobile gifting platform that focuses on simple elegant solutions for today’s mobile market and will be available on both iPhone and Android. (www.goswych.com)
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