People are increasingly more transient, geographically dispersed and customers of multiple financial products. This has created the perfect storm, for losing track of accounts and assets. Being able to reconnect customers with their lost life insurance policies, pensions and bank accounts in a digital and seamless way currently doesn’t exist. Gretel looks to change this.
Through a combination of bespoke APIs, open finance, and deep understanding of asset reunification – Gretel automates and transforms a process that currently takes up to 3 months into one taking just 3 minutes. We think Gretel will have a big impact on the insurance industry and wider financial ecosystem and look forward to helping them reconnect customers with their well-earned money.
It has been notoriously difficult to innovate within Asset Reunification, with existing incumbents being both complacent and budget constrained. Gretel’s product innovation and use of technology represents a significant product improvement from existing solutions. This clear differentiation, their superior customer experience and early conversion of large clients provides a significant first mover advantage that we’re excited to back.
Not only is this market problem vast (£50 billion is lost in the UK alone) it’s also incredibly global in nature. Gretel’s SaaS solution is able to integrate and scale rapidly across various international markets, aided by strong regulatory tailwinds that mandate institutions to repatriate funds quickly. Gretel is the obvious choice for forward thinking financial services companies across the world.
Gretel is primarily a white labelled SaaS solution selling B2B into large financial institutions and distributors. The company embeds their tracing technology into a user’s existing relationship which overcomes the trust barrier associated with financial accounts and is completely free to end customers – replacing the manual, paper driven process of traditional paid tracing services.
Gretel have built their entire technology stack in-house and are able to easily integrate through APIs into customer databases, the platform is set to go live imminently with leading insurers, retail banks and industry bodies – watch this space 👀
Gretel’s founders are domain experts in asset reunification with over 50 years combined experience in the space. Duncan & Tom really impressed the Gateway team with their extensive knowledge and network of the asset reunification ecosystem alongside strong motivation to solve this huge pain point through technology innovation.
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