Open Document Firm Legado Acquiring WonderBill

Legado has acquired London-based consumer and B2B bill management technology firm WonderBill, the open document and data company said in a news release Monday (Aug. 9).

Founded in 2016, WonderBill provides technology that lets consumers manage all their household bills and subscriptions. Legado says it will repurpose this technology to support its B2B personal data management and engagement platform.

“WonderBill has invested significantly in its technology over the last few years,” said Josif Grace, CEO, and founder of Edinburgh-based Legado.

“The integration of the consumer and B2B bill management technology into Legado’s platform will provide our corporate partners with a market-leading and compliant solution to manage, share, and access personal data in a way that is meaningful for customers.”

Legado says it offers its clients a “customer-centric solution” to document communication and management, engaging customers as they navigate key life events, reducing operational costs, and offering a more connected and cohesive digital experience.

“Consumers are tired of being inundated by various means of communication,” Grace said, noting that his company’s digital vault streamlines personal document management.

The vault uses machine learning and analytics capabilities to offer insights used to manage personal affairs and reduce the fragmentation of personal documents.

“Digital vault technology has seen unprecedented interest in recent years, following an increased focus on customer wellbeing within the context of the current challenging economic backdrop,” the release said.

See also: The Data Point: 80% of Consumers Want Better Security for Their in-Demand Personal Data

A recent study on data security by PYMNTS and Entersekt found that 65% of consumers felt a provider’s emphasis on data security has a major impact on trust, with 60% of consumers saying that getting information on how their transactions are secured has a “very” or “extremely” large influence on trust in a brand or bank.

The study also found that 34% of consumers felt comfortable sharing personal data online with credit card companies, and just 39% were comfortable sharing that info with retail merchants.

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