Prismm Aims to Simplify Inheritance Processes for Banks
Prismm is a startup designed to streamline how banks handle inherited money by integrating beneficiary planning into accounts from the start. Founded in 2020 by Martha Underwood and Shella Sylla, Prismm was inspired by their personal experience managing family finances during an emergency involving their father’s hospitalization after Hurricane Irma. The company aims to digitize what is currently a manual process for transferring assets upon death. Prismm offers two main products: Designate allows banks to let customers easily update beneficiaries; Anchor provides secure asset tracking with controlled access across institutions. A third product, Continuity, will guide families and bank staff through the transfer process. The company argues that current solutions are too consumer-focused and lack integration into banking systems. By reducing friction in estate planning, Prismm hopes to help banks retain inherited assets within their institution rather than losing them during a transition period.
Topics: banking innovation estate planning family finance fintech