Data sharing startup enters global FinTech firm's incubator and accelerator to launch market-ready app
InvestCloud Inc., a global FinTech firm, has announced Silicon Beach-based NameDrop Solutions, Inc., as the latest tech firm to enter its Los Angeles Innovation Center. The startup is using the space to bring its data sharing platform to market.
NameDrop is founded by Stephen Van de Wetering – who is also the founder of investment operations outsourcing firm Empaxis Data Management. NameDrop is a mobile app that allows people to share information with other people and businesses through an easy, fast and completely secure data-sharing platform.
The platform is targeted at both consumers and businesses. For consumers, NameDrop auto-fills forms, meaning the app can be used to fill out forms in person, over the phone or online for anything from a job application to booking a flight or filling out a form in a doctor's office. For businesses and institutions, NameDrop works as an info-gathering tool, collecting accurate data and delivering it real-time, directly into CRM, POS and other systems.
Stephen Van de Wetering, NameDrop's founder, said: "Filling out forms and onboarding to new services or products is a pain for everyone. The experience is full of friction, and prevents people from continuing to engage with that business – this is especially true in the world of finance. Being able to automatically provide the necessary information through a secure app is our answer to solve this headache."
Van de Wetering added: "But innovation is hard to achieve in complete isolation – you need the inspiration for creativity. Being close to smart and creative people is also crucial at the early stages of launching a company. This is why we chose the InvestCloud Innovation Center Los Angeles. With access to some of the most creative people in FinTech, we are able to greatly accelerate development and bring our platform to market."
NameDrop is using the InvestCloud Innovation Center in Los Angeles to continue to develop its proprietary data sharing platform and bring it to market. NameDrop is one of several startups using the Innovation Center, including Finworx and Efficient Tax.
John Wise, Co-Founder, CEO and Chairman of InvestCloud, said: "Internal IT project and startup failure rates are in the 90-percent-plus range. While finding the next innovative idea is half the battle, getting it to market is where most issues occur. Being able to surround yourself with the right people to quality-assure your idea and access the right tools and technology is vital for young businesses at this stage."
Wise added: "This is why we created the InvestCloud Innovation Center. It allows fast-growing businesses and large established financial institutions alike to create evolutionary applications that will have a real impact across the world. Stephen and the NameDrop team are a perfect example of the kind of business we want in our Innovation Centers, and we look forward to supporting them as they bring their product to market."
The InvestCloud Innovation Center Los Angeles is based at InvestCloud headquarters at the Pacific Design Center, in West Hollywood. InvestCloud also has a second Innovation Center at its European headquarters in Soho, London.
The InvestCloud Innovation Centers offer both new startups and established financial firms alike the ability to quickly deliver digital solutions, supported by the InvestCloud platform.