As a trailblazing leader in the fintech industry, Logicpath has committed to empowering financial institutions and companies in data-driven decision-making. Thriving on creativity and innovation, the company is continually pushing its boundaries and driving meaningful change in the industry. Rightfully recognized as one of the ‘Innovators of the Year 2024’ by The CEO Views, the duo Kelly MacConnell and David Austin, celebrate this award as it reinforces their belief in the power of collaboration and innovation. This achievement of Logicpath is a testament to its collective efforts from business development to operations, inspiring the organization to strive for excellence and impactful solutions.
A Tale of Excellence
With the purpose of aiding financial institutions in data-driven decision-making, the company delivers accurate currency forecasting and cash optimization for supply chains. Empowered by the inspiring leadership of Kelly MacConnell and David Austin, the firm is growing rapidly. Kelly MacConnell, Vice President of Sales and Client Services has spent the past 11 years enhancing the company’s products and services. Her extensive expertise of 18 years in the FinTech industry, combined with her dedication to thought leadership and process enhancement, have been key to building strong client relationships.
David Austin, in his 17-years journey at Logicpath, has excelled in company offerings by anticipating client challenges and exploring opportunities. His extensive professional experience of 25 years in the Banking and Financial Industries has influenced Logicpath’s strategic direction. His dual approach to internal team collaboration and change adaptation has amplified the company’s productivity, enhancing the C3 Financial application. Kelly and David’s commitment to excellence has empowered the client’s products and services with strategic insights and industry expertise. Strengthening the client relationship, they have positioned Logicpath as a leader in the FinTech space.
What Logicpath has to Offer?
Logicpath delivers SaaS solutions with C3 Financial and CashView. C3 Financial, as an innovative web-based cash management solution for financial institutions and ATM companies, is optimizing coin and currency forecasting for ATMs, ITMs, vaults, and other cash devices. This application seamlessly integrates all cash points by analyzing data from various device applications and teller platforms. C3 Financial manages the cash supply chain, allowing financial institutions to save time and reduce costs. Advanced algorithms and analytics offer detailed forecasting and optimization of the exact denomination levels for each location.
CashView, as a Casino and G+D-partnered web-based cash management solution, provides an integrated framework for casino cage and vault operations. It effectively automates cashier transfer slips, cage checkout sheets, and cash requests for the vault. Reducing manual effort, accounting audit hours, and eliminating spreadsheets, this solution eliminates excess cash, errors, and outages.
Innovation at its Best
Logicpath’s key innovations and initiatives have impacted the fintech landscape significantly. From advanced predictive analytics to educational resources, the company has infused innovation at every stage. The robust algorithms enhance cash management to help financial institutions optimize inventory levels and cash flow. Its data science team utilizes clients’ data to design customized service offerings to meet unique customer demands. Regular release concerning customer and internal feedback approximately every 6 weeks helps Logicpath ensure continuous improvement in offerings.
Innovation is also evident in the automated solutions that streamline cash forecasting to increase accuracy and reduce manual efforts. The user-friendly interface and integration capabilities improve data exchange and real-time decision-making. The company ensures to highlight future innovation of the product when delivering its consulting services through a performance review of its applications. It empowers clients with extensive training and resources to leverage their tools’ capabilities and foster a knowledgeable user base.
Staying Ahead of the Curve
“At Logicpath, we stay ahead in the rapidly evolving tech landscape through continuous innovation, strategic partnerships, and a strong commitment to our customers’ needs.”
Quarterly feedback sessions allow valuable insight into user preferences. To ensure everyone has a voice in the organization, it encourages clients, sales, implementation, and customer support teams to communicate their ideas to the backlog. The developmental team transforms these suggestions into real features. Enhancement of offerings and adaptation to emerging technologies is ensured by extensive investment in R&D. Cultivating a culture of agility, the company rapidly responds to industry changes and requests. Logicpath wins a competitive edge by collaborating with tech leaders for technology integrations.
The company also focuses on several value propositions to gain a competitive edge: truly forecasting the future, user-friendly technology, exceptional client support, and continuous innovation.
Success Stories to Share
The ongoing developmental sprints and the well-organized backlog of Logicpath have kept it agile and ahead in the niche industry. The profound impact of the company’s services on the industry is embedded in its success stories. The four-dimensional industry impacts encompass time-savings, cost reductions, efficiency, and access to information. In terms of time savings, many financial institutions benefit from Logicpath’s services. For example, financial institutions like CIBM, Independent Financial, and Fort Community Credit Union are saving about 75% of their time spent on their cash management tasks and processes. The solution has also optimized inventory by an average of 24%, resulting in significant savings for these financial institutions and enabling them to substantially increase their annual earnings.
“Financial institutions have reported significant time savings by automating their cash management supply chain workflow and data analysis, allowing teams to focus on higher-level tasks,” says Kelly. For example, Advia Credit Union eliminates manual cash orders with an Alloya integration and Atlantic Union Bank automates with a Loomis integration. The automated reporting system allows clients unprecedented access to data insights.
Surmounting Obstacles
When implementing a project, financial institution employees being resistant to a change in process and methodology is the biggest challenge in the way for Logicpath, which it eliminates through clear communication of the forecasting accuracy and training to ease the transition. Quantifying the time savings impact of innovative solutions can be challenging, and for this, the firm relies on client feedback regarding time spent on various operational activities to justify ROI. Stakeholders with conflicting priorities are another challenging factor. Logicpath focuses on the stakeholder’s early engagement to identify common grounds and to ensure all departments involved in cash management have the same outlook on risk vs. reward with forecasting.
Insights On Future Trends
- AI & Forecasting: The company recognizes that AI-based forecasting will become more complex. Therefore, the demand for regulations regarding transparency, accountability, and bias-free AI systems will be a significant focus over the next decade.
- Currency: Although COVID drove digital payment use up, the amount of cash in circulation in the United States has also increased, and this will be an interesting trend for Logicpath to observe.
- ATMs & ITMs: By keeping technology and innovation at the forefront, ATMs and ITMs are the cornerstone of the future in this industry replacing brick-and-mortar locations. Additionally, an increase in the outsourcing of ATM and ITM management can prove to be a great opportunity for the company to expand its service line in the future.
The business also intends to develop retail forecasting solutions in the future as directed by industry trends.
Being the Guiding Light
Kelly and David, as torch-bearing leaders, have advised future innovators to follow certain strategic moves to grow. Kelly emphasized focusing on active listening, problem-solving, being curious, embracing failure, rapid iteration, resilience, security, user experience, and ethics to flourish in this highly competitive market.
Our aim is to strike the right balance that meets everyone’s needs.
