Prismm Introduces Platform to Help Banks Retain Assets After Account Holder Death

Prismm's Solution for Asset Retention

Prismm, a new startup, offers a solution for banks to keep inherited money within their institution after an account holder passes away. The company achieves this by incorporating beneficiary and estate planning features directly into bank accounts from their inception, simplifying the process of transferring assets to heirs.

Founding and Inspiration

Founded in 2020 by sisters Martha Underwood and Shella Sylla, both with extensive backgrounds in banking and finance, Prismm emerged from their personal experiences. A family emergency in 2017, where their mother struggled to access financial information after their father's hospitalization, highlighted the difficulties in managing family affairs during crises.

Underwood's observations during the COVID-19 pandemic, witnessing families struggle with post-mortem financial arrangements, further solidified the need for a digitized solution. She identified an 'infrastructure problem' in the lack of platforms for financial transitions, contrasting with existing tools for wealth growth.

Platform Functionality

Prismm's platform enables account holders to grant designated family members pre-approved access to their accounts and documents. Upon the account holder's death, the designated individual can log in to a centralized interface to view assets and documents, and initiate eligible beneficiary transfers digitally.

The system streamlines the process by having identity, consent, and supporting documents already on file, facilitating remote completion of transfers, even when family members reside in different states.

Market Presentation

Prismm presented its mission at the Startup Battlefield stage at TechCrunch Disrupt 2026, introducing its approach to digitizing a traditionally manual process in financial transitions.