Urban FT

About Urban FT

Urban FT, Inc. operates as a financial technology company, providing white-label digital banking and payment solutions to financial institutions and non-financial companies looking to embed financial services. The company was founded in 2012 by Richard Steggall and Kosta Du. Richard Steggall, serving as the CEO, has a background in building and leading technology and media companies, including serving as CEO of Waspit Group, while Kosta Du, the CTO, has an extensive history in software development and managing technology teams. Their combined expertise in technology and business leadership has shaped Urban FT's trajectory in the fintech space.

The company's core offering is a proprietary, cloud-based platform that enables clients to provide digital financial services to their end-users under their own brand. This platform consolidates various functionalities, including digital banking, payments, and account management, into a single, cohesive user experience. Urban FT targets a diverse client base, including traditional financial institutions like banks and credit unions, as well as non-traditional players such as FinTechs, telecoms, and retailers that wish to offer financial products. Its business model is primarily B2B, generating revenue by licensing its platform and charging fees based on usage and services provided to its institutional clients.

A significant milestone in the company's history was the acquisition of the digital banking platform from an affiliate of Wipro Limited in 2018, which expanded its technological capabilities and market reach. This strategic move allowed Urban FT to integrate more advanced features and serve a larger number of financial institutions. The platform's key features include AI-powered mobile imaging for remote deposit capture, process automation to streamline back-office operations, and a comprehensive suite of digital banking tools. By leveraging artificial intelligence, Urban FT aims to help its clients reduce operational costs and enhance efficiency by minimizing the need for manual intervention in transaction processing.