Decimal incorporates in US to pursue global opportunities

Decimal Software Limited (“DSX”) is pleased to announce that it has established a wholly owned subsidiary, Decimal Software (US) Inc. based in San Francisco in support of the strategy to pursue opportunities emerging in the US for the company. Additionally, Founder and Executive Director, Jan Kolbusz is located in the US leading the development of market partnerships and business opportunities.

Whilst the strategy to leverage the global scalability of Decimal into the US was anticipated into 2015, the company has made the decision to accelerate this effort based on interest from prospective clients and partners. At the same time, the appointment of the CEO for Australia/NZ, Carolyn Colley in late 2014, as part of building organisational capability, has meant the company is positioned to pursue such opportunities whilst remaining focussed on existing clients and the significant pipeline in the Australian business.

The recent emergence of various offerings including specific “robo” investment and financial “wellness” apps is driving interest in Decimal in the US because of its significant distinguishing capability. The interest is across two areas: financial institutions needing to accelerate their response to consumer driven digital transformation, and, non-financial consumer brands looking to add personal financial services distribution. They are responding to consumers across all market segments increasingly looking for online solutions to their financial needs.

Decimal is the first company to provide the breadth and depth of capability to leverage these opportunities. The single platform with real-time compliance and a patented “big data” driven consumer application is being recognised as new capability. Decimal’s enterprise-proven fully configurable SaaS platform enables quick time to market, and Decimal is planning multiple partnerships and accelerated implementations.

Decimal provides US companies with turn-key digital capability to leverage the opportunities afforded by 64 million unadvised US consumers. The total US consumer net wealth market is valued at US$78.6 trillion. Further emphasising the size of the opportunity. Consultants, Accenture report that venture investment in global fintech tripled between 2008 to 2013, to US$3 billion, and is expected to reach US$8 billion by 2018 as financial institutions navigate the ever evolving digital landscape and new players disrupt the market.

Executive Chairman, Michael Sertorio said, “We are very excited to be receiving recognition of Decimal’s unique capabilities through a rapidly growing pipeline of opportunities with significant organisations both in Australia and the US. We are evidencing a rapid acceleration in interest from organisations both within financial services looking at how they position for digital transformation and emerging new distribution models.”