Ribbon provides financial institutions with an inheritance center designed to ease the logistical burden of settling estates for grieving customers. The product is positioned as a low-IT-lift, highly compliant and secure solution that uses AI and natural language processing to verify a passing, manage cases, transfer assets, and maintain compliance. Ribbon says its service can save financial institutions at least 2% of deposits and liquidity annually by reducing churn caused by poor inheritance experiences. The company cites industry friction—average estates cost more than $14,000 to finalize—and attributes much of the pain to outdated systems that create avoidable work. Ribbon reports it is already in progress with financial institutions across the country to go live. The company was founded by Allan Oloo and a co-founder and is focused on reducing time and cost for grieving families while helping institutions retain funds.

Total raised

$3M

Funding rounds

1

Latest round

Seed

Latest activity

Feb 2024