Washington, D.C., Oct. 23, 2017 (GLOBE NEWSWIRE) — Hearsay Systems, provider of Advisor Cloud solutions for the financial services industry, today announced it has acquired the technology and intellectual property assets of Mast Mobile Inc., a privately held company offering mobile-first unified communications for modern enterprises, fully integrated with CRM systems.
The announcement was made during the SIFMA Annual Meeting in Washington, D.C. Hearsay CEO and founder, Clara Shih, will be speaking at the event about the “New Frontier of Private Wealth Management” on Tuesday, October 24, at 1:30 pm ET.
With the purchase, Hearsay will apply Mast’s technology to advance its Hearsay Messages text-based client outreach solution for financial advisors and insurance agents. The acquisition will accelerate the company’s investments in deeper CRM integration and advanced voice capabilities for Hearsay Messages, enabling advisors to unlock new levels of productivity and opportunities to engage with clients.
Mast co-founder and CEO, David Messenger, will work with Hearsay in an advisory capacity.
“Financial services firms are faced with balancing their regulatory responsibilities with today’s bring-your-own-device reality. Advisors want to use their own mobile phones for business, but still keep their personal and business activities separate,” said Gaurav Agarwal, Hearsay vice president of product. “Mast Mobile has had a fantastic record of developing successful enterprise communication solutions in the mobile space. They’ve been innovative in building for the way sales reps actually work, and the way they use their mobile phones for business every day.
“We’re excited to leverage this user-specific technology to help advisors compliantly text and call their clients, and build more personal relationships with Hearsay Messages,” said Agarwal.
With Hearsay Messages, advisors are able to send and receive text messages from clients on any device, including their mobile phones, while staying within company policies and industry regulations. As part of the Advisor Cloud, activity data from Hearsay Messages can be synced to corporate CRM systems and digital marketing programs. By connecting data to every touch point in the client journey, Hearsay Messages helps create a seamless consumer brand experience across digital channels, from text and voice to social media, one-to-one email and advisor website activity.
“We’ve been following Hearsay closely for several years and seen the tremendous impact they’ve had in transforming the financial services industry,” said Messenger, of Mast. “We couldn’t have found a better fit for our technology, and I’m excited to see how the outcome will further improve advisor productivity and provide an exceptional mobile experience for both advisors and their clients.”
Terms of the acquisition were not disclosed.
Hearsay Systems offers leading Advisor Cloud solutions for financial services, empowering advisors to efficiently and compliantly use social media, websites, text and email to engage with customers, build stronger relationships and grow their business. Its prescriptive technology processes and prioritizes data from across digital channels and data systems, providing actionable suggestions for advisors on how they should engage with customers next. Built for the enterprise, Hearsay connects these advisor-client interactions and data to corporate CRM systems and digital marketing programs, and provides efficient compliance supervision and review workflows – all on a secure, enterprise-ready platform. Hearsay is used by more than 150,000 advisors and agents at the world’s largest financial services and insurance firms. The company is headquartered in Silicon Valley with offices throughout North America, Europe and Asia. Connect on Facebook, Twitter, LinkedIn and the Hearsay blog.
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