In the realms of predictive analytics for financial institutions, Hyperplane, a nascent San Francisco-based endeavor, emerges from stealth mode, unveiling a substantial $6 million funding injection. Spearheaded by former Stripe luminary Lachy Groom, the funding consortium includes SV Angel, Clocktower Technology Ventures, Liquid2 Ventures, Soma Capital, Latitud, Atman Capital, Crestone VC, and Norte. Hyperplane’s mission revolves around enabling banks to cultivate bespoke user experiences by leveraging their proprietary data to prognosticate customer behavior.
Already in collaboration with approximately a dozen Brazilian banks, Hyperplane now endeavors to broaden its horizons and extend its services to the United States. Although Hyperplane’s current focus lies exclusively within the banking domain, the team envisions an eventual expansion of its technology into diverse industry verticals.
The brainchild of Felipe Lamounier, Daniel Silva, Rohan Ramanath, and Felipe Meneses, Hyperplane brings together Lamounier, a seasoned CEO with seven years of experience building StartSe, an EdTech startup in Brazil, and Silva and Ramanath, who previously crafted expansive AI systems at tech behemoths Google and LinkedIn. Ramanath elucidates their foundational hypothesis, stating, “The core premise we began with was: What does it entail to construct a personalization stratum for global banks?” He draws parallels with major tech conglomerates that possess copious amounts of first-party data and invest significantly in data infrastructure to imbue personalization across products and consumer experiences. The aspiration for Hyperplane is to facilitate banks worldwide in establishing a data intelligence layer to seamlessly integrate their first-party data.
Lamounier underscores the unique advantage banks possess in holding granular customer data not accessible to other entities. He emphasizes that banks, unlike platforms like Google or Facebook, have insights into nuanced customer behaviors, spanning choices from restaurants to grocery stores and even the affordability metrics of services like Uber.
Presently, most banks offer limited personalized experiences, setting a low baseline. However, consumer expectations are evolving, seeking banking experiences akin to their online interactions. Hyperplane addresses this shift by providing banks with APIs to dynamically construct personalization models. The deployments remain confidential, with Hyperplane emphasizing a commitment to non-disclosure of data. Employing its proprietary models, the company currently offers modules for audience segmentation and the creation of lookalike audiences, broadening potential target audiences by identifying similar users.
Highlighting the effectiveness of task-specific models, Ramanath comments, “By crafting custom, ground-up solutions, we achieve significantly greater efficacy.” Hyperplane’s latest offering, Mandelbrot LLM, focuses on predicting customer churn and identifying users treating a specific bank as their primary institution.
Hyperplane’s impact is exemplified by a neobank in Brazil, where its services led to a remarkable 46% increase in transaction volume within the credit limit division. The ability to gain a clearer insight into the estimated income of customers proved pivotal in achieving this outcome.
Lamounier acknowledges Brazil’s pro-competition landscape, fostering an ecosystem eager to embrace novel technologies. He anticipates the scalability of the Hyperplane Cloud across markets, with forthcoming partnerships to be unveiled in the United States.