GLORY Invests in Fintech Clip Money to Provide Improved Deposit Services

Glory, which claims to be a global “leader” in cash technology solutions to the financial and retail industries, has announced their participation in the fundraising round by Clip Money Inc. (TSXV: CLIP) a Fintech operating in Canada and the US.

Clip Money “simplifies the challenges businesses face when depositing cash, avoiding trips to the bank during business hours, which take time away from their customers.”

Deployed at convenient locations, including top tier malls and at big box retailers, Clip Money’s platform combines “a mobile app with a Cloud-based transaction platform, secure connected cash deposit devices, and management software to deliver an end-to-end deposit solution to businesses, whoever they bank with.”

Clip Money’s self-service network “is operational well past typical bank branch hours helping drive a better experience and improved cash flow for businesses.”

Clip is also helping financial institutions “extend the reach of their network outside of the branch as they look to reduce costs associated with their locational footprint, manual processes, and in-person transaction processing.”

Toshimitsu Yoshinari, Chief Solutions Officer at Glory said:

“Increasingly we are seeing the combination of digital and physical shared infrastructure solutions to solve real world problems in new ways. As bank branches around the world continue to transform, moving to a more sales-centric model, we’re delighted to invest and commercially partner with Clip Money as they develop new ways to support deposit services for businesses that are not only more convenient, but which deliver a better customer experience.”

Joseph Arrage, CEO at Clip, commented:

“In addition to the business depositor benefits, Clip Money is improving the connection between the physical and digital worlds of banking services which, in turn, is helping financial institutions accelerate their digital transformation. Solutions like Clip Money are helping bridge this gap while enabling financial institutions to provide a high level of customer service. I am excited about Glory as an investor and commercial partner as they bring deep global banking relationships and are a proven innovator in the cash management operations space.”

Financial terms of the transaction “were not disclosed.”

As a “global leader” in cash technology solutions, GLORY aims to “provide the financial, retail, QSR, cash center and gaming industries with confidence that their cash is protected and always working to help build a stronger business.”

Their cash automation technologies and process engineering services “help businesses in more than 100 countries optimize the handling, movement and management of cash.”

While they span the globe, they personally “engage with each customer to address their unique challenges and goals — enhancing staff efficiency, reducing operating costs and enabling a more rewarding customer experience.”

Employing over 10,000 professionals worldwide with dedicated R&D and manufacturing facilities across the world, GLORY “is built on a rich customer-focused, technology-driven heritage spanning almost a hundred years.”

Clip Money, Inc. “is an infrastructure enabled Fintech that enables businesses to make deposits quickly, easily and securely to your current business bank account through a national network of drop box locations in malls, big box stores, and grocery chains.”

Clip Money, Inc. “improves the business deposit experience through a transformational digital and mobile enabled platform services.”

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