Payments but faster
Case study; Boodil
Meet our client Boodil, a low and no-code Pay by Bank platform for all businesses.
Who are Boodil?
Boodil is a new cardless payment solution that helps increase engagement with customers.
Powered by open banking technology, their low and no-code solutions reduce the costs associated with processing payments, facilitating instant settlement of funds and eradicating chargebacks for businesses.
Boodil works with a wide range of businesses that accept payments, either via card or via manual bank transfer, whether ecommerce or more traditional payment industries.
The company founded in March 2022, are a team of four and have been a Superscript customer since December of the same year.
Who are we speaking to?
Meet Sam, co-founder and COO of Boodil
"We came across Superscript at a London fintech event, and from the get-go the team had an acute and accurate understanding of our business and where the inherent risks were.
It’s clear that fintech companies with a nuance are Superscript’s speciality, and the seemingly complex insurance terminology was made very understandable by the team - the sales process and account management is jargon free and straight forward.
Their insurance products are also competitively priced, and in comparison to other quotes, the process and documentation to obtain a quote was a lot more straightforward. This led to a smooth execution from quote to going live."
"The implementation process was simple. After a detailed overview and explanation of our business model and ambitions, the Superscript team were able to identify what cover was necessary.
Joe and Justin worked on creating a solution that worked for our business needs and we have total confidence in the cover obtained.
Since implementation we've been regularly catching up with our account managers. This has been particularly helpful when we’re looking to query our cover in relation to contract terms and new releases."
What features do you find most appealing?
"We've been really impressed with the account management, expertise and overall service.
The Superscript team has a wealth of expertise in our industry and, more specifically, our business which is an invaluable asset.
The process and documentation to obtain a quote was a lot more straightforward than other insurers, and the digital-first approach definitely helped save us time in securing the appropriate quotes.
So far we’ve not had to utilise the claims service, but it gives us great peace of mind to know that the Superscript team can help us navigate this process."
I've been so impressed with the ease of dealing with Superscript and the lack of jargon. It’s a big step change from traditional insurance providers.
Sam Owens, Boodil
How has Superscript helped Boodil?
"Teaming with Superscript on our insurance has really just given us peace of mind.
Having dedicated, knowledgeable account managers helps with decision making as we can massively reduce any ambiguity or seek clarification when looking into new areas and markets, or negotiating red-lines within contract terms."
How has Superscript enhanced Boodil's competitive advantage?
"It gives us confidence going into new areas - building out our product roadmap and when red-lining terms with clients - that we have the relevant cover in place, and experts on hand to sense check that we have everything we need.
Also, reducing ambiguity and uncertainty helps us make decisions faster."
It’s clear that fintech companies with a nuance are Superscript’s speciality and the seemingly complex insurance terminology was made very understandable by the team. Their insurance products are also competitively priced, and in comparison to other quotes, the process and documentation to obtain a quote was a lot more straightforward. This led to a smooth execution from quote to going live.
Sam Owens, Boodil
What insurance do you need for your fintech business?
When things are changing day to day, you want to make sure that your insurance can keep up — to make sure it’s in the hands of people who speak your language.
Find out more about how we help fintechs find the right insurance and how to get in touch with one of our expert advisors.
Authorised by the FCA
The FCA supervises UK financial services firms to protect consumers. We are directly authorised and regulated by the FCA and our Firm Reference Number is 656459. These details can be confirmed on the Financial Services Register at www.fca.org.uk or by calling the FCA on 0845 606 1234.
Protected by the FSCS
If you are a business with an annual turnover under £1m, charity with an annual income under £1m, or trust with net assets under £1m, then you will be entitled to compensation from the FSCS in the unlikely event we cannot meet our obligations. Full details and further information on the scheme are available at www.fscs.org.uk.