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CompanyProfile

Turn transaction data

into advanced business

intelligence

cies AI Ltd. was established in 2020 in Toronto,
Canada, with the goal of bringing business ISO/MLS contact:
intelligence to the payments industry. Acies
A co-founders Richard Kapustin, chief executive Richard Kapustin
officer, and Jonathan Keebler, chief technology officer,
designed and built an AI platform that uses proprietary Chief Executive Officer
machine learning to answer pressing business questions.
richard@acies.ai
"Jonathan and I spent years in big companies," Kapustin 416-809-0116
said. "Each [of our former companies] spent millions on BI
products and struggled to do basic charts and graphs. We www.acies.ai
realized that they needed two main things: ease of get-
ting there and a reason to do it." Large organizations that
warehouse data with multiple vendors must find ways to
integrate it, Kapustin stated. Acies works directly with
middlemen that have the data, thereby saving companies Acies is a cost-effective alternative to legacy data man-
agement systems and requires neither data scientists nor
from time-consuming and costly warehousing, fees and
technical integrations commonly associated with busi- technical aptitude, Kapustin stated. Merchants can use
the dashboard to customize reports without going to sep-
ness intelligence initiatives.
arate POS vendors to collect data and they can see all of
Secure, simple integration their payment transactions on the gateway and BI tool.
Few businesses have the budget to invest in meaning- "Acies AI works closely with some of the world’s top pay-
ful BI, Kapustin noted. Acies solves this challenge by al- ment gateways, offering a turn-key business intelligence
lowing businesses to monetize their data. He added that platform fueled by your payment data," Kapustin said.
Acies can be sold under existing merchant service agree- "The Acies platform arms you with answers to your most
ments, making it easy for channel partners to sign up new pressing business questions, even the ones you haven’t
merchants. had time to consider."

"We believe business intelligence is essential for operat- Strategic, competitive advantage
ing a business of any size," Kapustin said, adding that
Acies can easily integrate into payment gateways without Kapustin described Acies as a lean, processor-neutral
company powered by a 10-member team that hit the
exporting data to a third party because data never leaves
a customer's environment. He noted that the platform can ground running, signing its first channel partner in Sep-
tember 2020 and launching its customer segmentation
be customized to match customer environments and is
compliant with security requirements. engine in December 2020. The company's advisory board
includes Diane Faro, president and partner at Nation-
al Benefit Programs and former CEO at JetPay; Audrey
Kapustin went on to say that merchant feedback has been Blackmon, senior vice president, business development at
positive. Merchants who are using the platform appreci-
ate the cost savings and improved efficiencies. They no Verrency; and Michael A. Peters, who served as executive
vice president and president of TSYS Merchant Solutions.
longer have to collect their own data and store it in a data
lake. They can derive essential business insights without "In Spring 2021 we will be launching with two new chan-
the encumbrance of in-house systems, per-store licensing
fees and outside data specialists, he stated. nel partners in the U.S. market," Kapustin said, adding
that the company will continue to use real-world data to
Essential toolkit train its unique AI technology and expand its capabilities.

Kapustin pointed out that managing BI can become com- "We want to be descriptive and prescriptive; that's what
plicated and time-consuming process for growing com- increases the value of what we’re selling exponentially
panies, as risk will increase proportionately with all of and differentiates us in the market," Kapustin said. "We
the disparate data and systems in play. Escalating data can tell you if you're meeting your business goals and
consumption and management can rapidly turn a busi- what you can do about it. And if you’re going to miss your
ness intelligence initiative into a money pit. targets, we'll tell you before your boss finds out."

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