Imagine an industry in which human error costs $400 billion.

Now imagine a platform that could eradicate that error through artificial intelligence and automation, saving its clients millions of dollars in the process.

That’s HEXANIKA. 

We’re eliminating the need for fragmented and faulty solutions for businesses dealing with lots of data and high regulatory compliance demands. Using our SmartJoin and SmartReg proprietary technologies, we’ve already helped our customers save up to 50 percent in costs, speed up their onboarding up to 70 percent, and provided quality compliance results with 100% "auditability."

And with a 2020 Scalability Award from Citi under our belt, we’re just getting started.

Unfortunately, the cost of data management and compliance is often so burdensome on small institutions that these businesses are forced to make tough choices about where their company is going—if anywhere at all.

In the last couple of years, $400 billion was assessed in non-compliance fines alone. That’s more than just a small error here and there, yet with ever-changing and increasingly complicated regulations, it can be nearly impossible for companies to keep up.

Our AI software simplifies the process by automating data management and regulatory compliance. With HEXANIKA, companies no longer have to rely on hours upon hours of manual labor to keep up with compliance demands. With fewer labor costs and no more fines, our customers can expect their cost of compliance to be reduced by 50 percent or more.

In 2020, it was estimated that global financial services companies would spend $181 billion in compliance costs*.

While overall spend for Regulatory Compliance is over $181B, just $4 billion of that money was spent on RegTech solutions, with only 17 percent of companies have implemented this type of system. That leaves our addressable market at approximately $177 billion.

*Not including the $400 billion in fines previously mentioned.

Post the launch of the product in Q4 2019, in 2020, we saw approximately $1.4 million in revenue from customers using our award-winning product. Using our all-in-one platform, our customers have been able to eliminate their complicated and costly multi-step solutions and replace them all with HEXANIKA.

Customer success stories include:

• At the 13th largest bank in the US HEXANIKA delivered more than 50% cost savings
  
  

• HEXANIKA also increased compliance processing time by 50% with 100% "auditability" for Citibank
  
  

• Our product was able to execute 50-70% faster onboarding for RSM, the fifth-largest accounting firm in the United States
  
  

• And there are many more…..

As a SaaS company, HEXANIKA has been making excellent progress with small and midsize institutions, with an estimated pipeline of more than $15M.

We’ve formed strategic partnerships with a global financial services firm, a global accountancy firm, and a mainframe provider to work with their clients, giving us access to 80 percent of the industry partners we’re seeking.

Some successful partners stories include:

• ICBA -The largest Independent Banking Association (ICBA) has become an investor in HEXANIKA. ICBA also promotes HEXANIKA through its forums, webinars, and preferred THINKTech Network

• FIS - HEXANIKA also graduated from the FIS VC program and signed a reseller and distribution agreement. FIS is the largest FinTech firm in the world.

• Amazon AWS - HEXANIKA is now in the Amazon AWS marketplace and has recently announced a partnership.

• IBM - HEXANIKA recently became formal Integrated System Vendor and Silver Partner of IBM

• RSM - RSM which is the 5th largest accounting and consulting firm serving midsize banks is a customer, has built compliance solutions in HEXANIKA’s SmartReg marketplace, and has serviced its banking customers by using HEXANIKA’s product.

• And there are many more…..

Using automated AI algorithms and without human intervention, HEXANIKA is able to:

• Consume and read heterogeneous data files including PDF, Word, plain text, and Excel files;
• Convert, prepare and aggregate the data into a format that allows for compliance reporting; and
• Read regulations automatically, prepare the business logic and reports that get submitted to regulators.

Our pricing strategy combines two different models working in conjunction. These are based on the two components that make up our platform. In cloud, SaaS customers can also pay for proportionate use of the data platform based on quantity of data and processing. This makes pricing scalable, affordable and flexible for smaller institutions:

• End-to-End: From original regulations and raw data to end reports aka with its philosophy of “From Regulations to Regulators” this product does it all by using proprietary SmartJoin and SmartReg technology; no more patchworking together multiple software and human labor to get results
• Automated with AI and self-servicing with UI: Using AI algorithms, HEXANIKA writes code itself  without input from software developers or engineers making it a “Low Code-No code” solution. In some cases it also intelligently predicts the code to be written based on data.
• Standardized: Once the data is in the platform, HEXANIKA proprietary patent-pending cascading rules engine automatically routes its reports where they need to go, avoiding the need for manual submission

Within the next five years, we see ourselves as a leader in the driverless data management platforms and marketplace for the RegTech and compliance industries. 

We believe our revenue potential as a one-stop-shop for compliance and financial services will soar as more and more companies experience the immense value of what we are providing.

Yogesh Pandit | Founder & CEO

• 25 years of financial services experience with Ernst & Young and Citi

Makarand Gadre | CTO

• 30+ years of experience; built Excel and SharePoint at Microsoft

Arun Iyer | CPO

• 30+ years experience; built and deployed large products at Cognizant

HEXANIKA is doing more than saving businesses time and money. We’re fixing a broken system in which even companies putting in maximum effort are bound to slip up. 

We feel confident that our platform will permeate the market once more and more businesses see what our Smart tech is capable of. 

Be Smart. Join us today.