Ignatica was born from an extreme frustration and consistent roadblock to innovation that the founders faced throughout their 15 years in financial services. Product innovation was consistently limited by existing technological infrastructure, and little to nothing was being done to address the root problem, instead of making large leaps forward, only small incremental stopgaps were put in place. The founders missed hundreds of lucrative opportunities simply because of the technological limitations of their current systems and the financial repercussions of those limitations.
As the founders dug deeper into the problem, they witnessed first-hand how their organizations were failing to deliver on their stated goals of listening to customers and prioritizing customer wants and needs. They spent countless hours listening to customer testimonials and to testimonials of potential customers who were excluded from using specific financial products and they noticed that the root cause of the problem for these customers was also the limits of the current technological infrastructure of their organizations.
When they approached their organizations to potentially develop a solution in house, institutional conformity and bias towards what is safe and known overrode the desire to innovate. They were told that they could potentially go to the market and try to find a vendor who provided a solution to test. After searching thoroughly and not finding an adequate solution, the founders decided they would build their own solution and Ignatica was born.