BuzzPoint's Big Data Analytics Capabilities from fisoc Attracts VC Firm Greycroft Partners as First Institutional Investor

AUSTIN, Texas, June 6, 2012 /PRNewswire/ -- fisoc, Inc. today announced that they have signed an agreement with Greycroft Partners, a venture capital partnership with offices in New York and Los Angeles that was formed to invest in promising digital media companies.

fisoc was founded in June 2010 by a team of banking and social media experts that included the founders of FundsXpress, one of the first companies to offer Internet Banking. Together the team has developed banking solutions used by over a thousand financial institutions and social media programs employed by global companies.

fisoc's web-centric platform uses big data analytical tools to enable regional and local banks and credit unions to offer rewards that benefit both their customers and local merchants enrolled in the program. fisoc's BuzzPoints solution is built on a platform that enables these financial institutions to make more money from both the acquiring and issuing sides of their debit card transactions.

"We strongly believe that fisoc with their BuzzPoints Platform, product portfolio, management team, and a unique understanding of the intersection taking place between online financial services and social media will enable them to become a market leader," stated Ellie Wheeler, Venture Capitalist at Greycroft Partners. "By combining financial services, social media and a rewards program for both bank customers and local merchants, fisoc is positioned to lead a transformation of the customer experience in the banking industry."

"Regional and local banks and credit unions recognize that today's customers are demanding a more modern banking experience that includes online services and mobile apps," said Jay Valanju, CEO of fisoc. "More and more financial institutions are hearing about the benefits of the BuzzPoints Platform and this initial round of institutional funding from Greycroft Partners will enable us to bring on board the additional resources to meet that growing demand."

Ms. Wheeler also noted, "Today banks are living in the world of big data and many are seeking the analytic tools to transform this data into competitive advantage. Fortunately, fisoc has reporting programs specifically designed to improve operational efficiencies and increase their profitability. That was a key factor in leading us to invest in fisoc."

Also participating in the round were all of fisoc's initial investors including Daylight Partners and Angel Investors bringing total funding to date to over $5m.

About fisoc
fisoc was founded to use big data techniques to develop and provide products that regional, local bank and credit unions can use to target consumers through social engagement and merchant rewards programs. fisoc helps financial institutions increase transactions, improve account balances, and grow loan demand as they attract new customers. Investors include Greycroft Partners, KEC Holdings, Metamorphic Ventures, Daylight Partners and Angel Investors.

For more information, please visit: www.buzzbanking.com.

Media Contact:
Tom Price
Bernard Group Communications
[email protected]
512-415-7744
www.bernardgroup.com

SOURCE fisoc, Inc.