American developer of marketing software for fintech startups Total Expert has raised USD 52m during the recent funding round. The total volume of investment into the company made USD 86m.

Bloomchain.ru reports that the leading investor is Toronto-based firm Georgian Partners.

Total Expert plans to use the new investment to expand the staff, which now includes 218 people. The company also wants to accelerate development of new solutions designed for neobanks and small fintech startups.

Total Expert specializes in marketing software. It was the first company to create the corporate marketing operating system (MOS), which is designed for modern financial services industry.

The company’s platform enables specialists involved in customer service, as well as legal and marketing departments to work together during marketing campaigns, which are unique for each client.

As opposed to regular CRM systems and marketing tools, Total Expert’s product is designed exclusively for financial companies that want to integrate sector data and apps to secure unique customer experience in any given stage of the client’s life cycle.

Total Expert CEO Joe Welu has underlined that soon the financial services market will be seized by companies that put customer experience first.

“Any interaction between a financial company and its client either increases the trust towards the brand or destroys it. Outdated technologies do not meet the expectations of modern customers. Our goal is to help credit organizations meet those expectations,” Welu said.

Since 2017, Total Expert’s profits have grown by 684% and the client base – by 8.5%. The company has over 100 corporate clients now. In 2019, Total Expert became one of USA’s 15 fastest growing software companies.

Analysts at the consulting firm Accenture believe that the reason neobanks are gradually pushing traditional credit organizations out of the market is precisely that fintech companies excel banks in customer service. 32% of the bankers surveyed by Accenture consider it the main problem of their business.

Most members of the North American banking market (60%) think they will lose around 15% of the profits from payment services to fintech companies in the next three years. Accenture is certain that change of traditional business model can help avoid these losses. Banks should focus on growing client loyalty, which will lead to increase of profit by USD 150bn in the industry.

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