Vendor Spotlight – Rokt

Vendor: Rokt

Website: https://rokt.com

Headquarters: New York, Boston, Tokyo, Sydney, Singapore, Auckland

Key Product: Commerce – When customers are buying online, they expect more personalized and relevant experiences. We unlock the hidden potential in every single Transaction Moment™.

Articles:

E-Commerce Marketing Tech Firm Rokt Raises $80 Million

Rokt Appoints New CTO to Accelerate Technological Innovation in the Next Stage of Growth

Clients: 

Dominos, Visa, Fanatics, TicketMaster, Yelp, Expedia

“Rokt is such an effective partner we are launching them across all of our sites.”

            Eric Venosdel, Fanatics, Head of Advertising Operations

Awards:

Rokt Recognized for Innovation in Artificial Intelligence with 2020 MarTech Breakthrough Award

Rokt Secures Spot on Crain’s List of Fastest-Growing Companies in NYC

Executives:

Data Points:

  • 1 Billion transactions per year
  • LuckyVitamin sees 200% increase in ancillary revenue with Rokt Commerce
  • Fanatics sees 470% increase in yearly ancillary revenue generated by Rokt
  • Global online travel agency sees 218% increase in app installs
  • Rokt drives 40% of net new acquisitions for Online Retailer
  • Rokt fuels ROI by 400% for online retailer

Differentiator:

CULTIVATE POSITIVE MOMENTUM IN THE TRANSACTION MOMENT

  • Real-time data delivers a BETTER CUSTOMER EXPERIENCE
  • Machine-learning algorithms deliver RELEVANCY.

Fintechs could see $100 billion of liquidity in 2021

  • “The Matrix fintech Index rose 97% in 2020, compared to a 14% rise in the S&P 500 and a 10% drop for the incumbent financial service companies over the same time period.
  • E-commerce undoubtedly stood out as a major driver. As a category, retail e-commerce grew 35% YoY as of Q3, propelling PayPal and Shopify to add over $160 billion of market capitalization over the year. For its part, PayPal in the third quarter signed up 15 million net new active accounts (its highest ever).”

Fintechs could see $100 billion of liquidity in 2021

Banks must be able to explain AI models – Brainard

Lael Brainard

“Banks must find ways around the ‘black box’ problem that affects many artificial intelligence-driven models, the Federal Reserve’s Lael Brainard says. The Fed governor told a virtual conference hosted by the central bank that supervisors would expect financial firms to be able to explain how their models are reaching certain results. Without this, it would be impossible to tell if a model was producing biased results, she said.”

https://www.centralbanking.com/central-banks/financial-stability/micro-prudential/7732626/banks-must-be-able-to-explain-ai-models-brainard

On-the-go banking made easier as digital banking evolves

  • “Yes Bank provides AI banking, chat-based robots, SMS Pay, etc., bringing banking to the fingertips of people.
  • For instance, you can view financial transactions, order cheque book, report unauthorised transactions, connect with contact centre, donate, locate nearby ATMs and branches, and much more through a WhatsApp message. The bank, under its Yes Online platform, launched the AI-enabled YES Robot to address all the queries within no time.”

https://www.google.com/amp/s/www.moneycontrol.com/news/trends/features-2/on-the-go-banking-made-easier-as-digital-banking-evolves-6385961.html/amp


Yes Bank – https://www.yesbank.in

Banks need to strike the right balance for digital transformation

“For many financial institutions, this has been a wake-up call,” says Fei. “In the past, many had thought that if they have an online portal and a mobile application then that’s enough. But now they’ve realized it’s not. Some banks have online portals and mobile apps where you can apply for loans, but they still need to send items to the customer and carry out on-site inspection before they can process the loans, which hasn’t been possible during covid. Banks have had to reshape and redesign the whole process of their lending products.”

https://www.google.com/amp/s/www.technologyreview.com/2021/01/15/1016087/banks-need-to-strike-the-right-balance-for-digital-transformation/amp/