Brico operates a licensing platform that automates the application and maintenance of financial licenses across all U.S. states, significantly reducing costs by 50-90% and time spent on licensing tasks to just 10-15% of team resources. The platform provides real-time regulatory data and automated reporting, ensuring compliance and streamlining the often complex licensing process for businesses in the financial sector.
Funding
$8.1M raised to dateRaised to date based on public sources. This may differ from the amount the company actually raised and is based only on what is publicly available on the internet.
Founders
Product
Problem
Financial institutions face a complex and costly challenge in obtaining and maintaining licenses across multiple U.S. states due to varying regulations and extensive paperwork. This process consumes significant time and resources, diverting focus from core business activities and increasing the risk of non-compliance.
Solution
Brico offers a licensing automation platform designed to streamline the application and maintenance of financial licenses across all U.S. states. The platform reduces licensing costs and minimizes the time spent on licensing tasks by automating reporting, renewals, and data sourcing. By providing real-time regulatory data and a centralized source of truth, Brico ensures businesses stay compliant and can efficiently manage their licensing requirements.
Target Audience
Brico primarily serves financial institutions, including those involved in earned wage access, money transmission, lending, collection, servicing, and mortgage activities, that require efficient and compliant license management.
Features
- Automated application filling and data import across all U.S. states
- Real-time regulatory data synchronization for up-to-date compliance
- Collaborative task management with in-app chat and live support
- Smart data mapping to ensure accurate information transfer
- Automated report generation and compliance flags for proactive monitoring
- Centralized, secure software platform for managing all licensing documents