RealPage, Inc. (NASDAQ:RP), a leading global provider of software and data analytics to the real estate industry, today announced the launch of CommunityConnect, an integrated, managed service that will vastly accelerate deployment of smart access, smart apartment devices and community-wide ultra-high speed Wi-Fi connections in the multifamily industry.
What is CommunityConnect?
CommunityConnect is a one-stop shop for community-wide smart access to buildings and units, smart devices, and ultra-high-speed community-wide Wi-Fi. Each of these offerings is available stand-alone or in combination with the others as part of a fully managed RealPage® solution set. RealPage and its network of partners will perform and manage the design, engineering, procurement, installation and operations of all aspects of the solution, which are accessible through a single smartphone app.
This single app solution and the integration of hundreds of partners was enhanced by the recent acquisition of STRATIS IoT, which delivers smart buildings and "connected communities.” The name of the STRATIS resident app will become the "CommunityConnect App” and is part of the CommunityConnect family of solutions from RealPage. To see the App in action, link to https://www.realpage.com/videos/communityconnect-app/.
The CommunityConnect App is connected to a central communication hub for each community that monitors the performance of every device in the building 24x7 and takes calls from residents or property staff if there is an outage. The CommunityConnect App enables renters to be instantly provisioned to access community and unit locks, smart devices and secure personal Wi-Fi networks anywhere on the property. The CommunityConnect App is licensed to the property owner on a per unit per month basis with affordable subscription fees tied to which CommunityConnect solutions are deployed and the number of smart devices activated in each community.
CommunityConnect is Positioned to Stimulate Rapid Adoption:
Integrated Smart Access from Sidewalk to Sofa™ unlocks revenue potential worth several hundred dollars per unit per year and corresponding operating cost savings by enabling fobless and keyless site access. Integrating access to gates, buildings, corridors and units is now affordable for less than $300 per door in capital costs, with paybacks in under 18 months in most communities.
Smart Apartment Devices, like smart water meters, thermostats, lights, leak detectors and Google® and Amazon® voice assistants were expensive and did not integrate with each other. Now, prices have dropped and we have the ability to integrate disparate devices into a single resident access point. Working together, these devices can be used to significantly reduce property costs and improve the resident experience. For example, resident utility costs are a sizable expense for renters. If your sustainable apartments reduce energy and water costs by a few hundred dollars per unit per year compared to your competitor, this is a differentiator that will benefit you and your renters in real dollar savings, and renters will value the increased sustainability of your community.
RealPage Community-Wide High-Speed Internet Access (HSIA) solution provides far more than Internet access for residents in their units. Traditional single-family broadband solutions deployed in most apartment buildings today are costly to the resident and are frequently limited to in-unit Wi-Fi. Our managed HSIA solution, offering wired and wireless speeds up to 1Gbps throughout a community, is a cost-effective alternative that provides a personal area network for each resident, a guest network for non-residents, access for on-site leasing managers and maintenance, and can serve as the backbone for your smart community solutions. It enables a community-wide connected lifestyle that enriches the resident experience and can lower resident Internet costs currently paid to cable or phone companies, making your apartment more competitive. It also gives the owner opportunities to reduce expenses and add higher revenue shares from the sale of bulk Wi-Fi. With sub-18-month returns on investment, a managed HSIA solution can support almost every on-site technology solution available today.
Smart and connected communities will become a requirement for many residents who are working at home more and expect the same convenience at home that they enjoy at the office. Apartments that are not smart and not connected will be at a competitive disadvantage to a larger and larger segment of renters, so our expectation is that tens of thousands of apartment buildings will retrofit their apartments to support all aspects of smart technology over the next few years. To see CommunityConnect in action, link to https://www.realpage.com/videos/communityconnect/.
With CommunityConnect, RealPage is now one of the largest integrators of smart apartments in the U.S. with over 600,000 smart apartments deployed through its Resident Technology Services and STRATIS IoT divisions. RealPage will unveil the new CommunityConnect solution—and showcase how the STRATIS acquisition complements it—at REALWORLD2020, Tuesday, September 15 at 10:00 am CDT.
RealPage provides a technology platform that enables real estate owners and managers to change how people experience and use rental space. Clients use the platform to gain transparency in asset performance, leverage data insights and monetize space to create incremental yields. Founded in 1998 and headquartered in Richardson, Texas, RealPage currently serves approximately 19 million units worldwide from offices in North America, Europe and Asia. For more information about RealPage, please visit https://www.RealPage.com.
About STRATIS IoT
STRATIS creates smart apartments and intelligent buildings and is the only platform of its kind built for the complexities of multifamily and student housing. STRATIS is installed in over 380,000 units across the U.S., Japan, the UK, EU and Latin America. STRATIS now serves hospitality, retail and small to mid-size commercial, as well. STRATIS is a 3x Inc. 5000 "Fastest Growing Company in America” and a Top Ten Entrepreneur 360 "Best Company in America.” To get more information, visit STRATISIoT.com.
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Jason Gardner, founder and CEO of Marqeta.
MarqetaGoldman Sachs is building checking accounts for its consumer-banking play, Marcus. The accounts are expected to launch in late 2021.
Marqeta, the $4.3 billion fintech that helps companies issue cards, will power Marcus' debit cards.
Marqeta founder and CEO Jason Gardner told Insider the partnership came through a years-long relationship with Goldman, which invested in Marqeta in 2016.
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Consumers historically relied on branch locations to choose a bank. But now, they're getting used to managing all their finances online with the proliferation of digital-only banks.
Goldman Sachs' Marcus is one such bank, starting in lending and savings. Now, it's planning to launch checking accounts for Marcus in late 2021.
With checking accounts come debit cards. And behind most fintechs' debit cards are issuing partners like Marqeta, Galileo, DaVinci Payments and Stripe, to name a few.
And Marqeta won the bid to be Goldman's card-issuing partner.
Read more: The CEO of $1.9 billion Marqeta says it's looking to boost its headcount by 20% and is eyeing smaller startups to buy
Through its open-API (meaning plug-and-play) card-issuing offering, Marqeta powers consumer-facing companies like Instacart, Square's Cash App, and buy now, pay later fintech Affirm, which went public on Wednesday.
Marqeta's existing relationship with Goldman didn't hurt
Marqeta founder and CEO Jason Gardner told Insider the deal was less a sale than a partnership that came through a years-long relationship with Goldman, which invested in Marqeta in 2016.
"It's not a transaction, per se," Gardner said. "It's years of getting to know the team, sharing roadmaps of where we're headed and what we're going to do, which ultimately comes to Goldman Sachs choosing Marketa to help them build these products."
The startup has raised over $520 million to date from investors, including Coatue, Greylock, and Spark Capital, as well as the corporate venture arms of Mastercard and Visa. It was last valued at $4.3 billion following a $150 million fundraise last May.
Read more: $4.3 billion Marqeta is targeting a wider range of customers for its digital cards with a new 'tokenization-as-a-service' push
And winning Goldman's business is, for Gardner, a validation of Marqeta's business model.
"It not only underscores what we're doing and that our strategy is in the correct direction," Gardner said, "it's really a true validation of what we're up to in regards to powering these next-generation digital banks."
To be sure, Marqeta wasn't the only issuer Goldman considered.
"It was competitive. They were looking at other platforms," Gardner said. "They truly believed in modern card issuing, in what we are building, and in our strategy."
Marqeta's Marcus partnership comes off the heels of another win with a major bank in 2020: JPMorgan.
2020 was a big year for the fintech, with a number of macro factors serving as tailwinds for it. The proliferation of digital payments and banking, by necessity, as well as traction in the on-demand delivery market with customers like DoorDash, Instacart, and UberEats, all proved big boosts for Marqeta.
At the end of 2019, Marqeta had issued 140 million cards since its launch in 2010. In 2020 alone, it nearly doubled that count to 270 million total cards issued, an increase of over 90%.
ENGLEWOOD, Colo., Jan. 18, 2021 /PRNewswire/ -- As we embrace 2021, Medical Group Management Association (MGMA) releases a special report that identifies key learnings from the tumultuous year of 2020 and provides important priorities that medical practices...