--- title: "Banks to Simplify Inheritance Process with New Solution from Prismm" url: https://noti.group/banks-to-simplify-inheritance-process-with-new-solution-from-prismm/ language: en publisher: "Noti Group" section: "Technology" published: 2026-10-14T16:00:00.000Z updated: 2026-10-15T01:49:44.062Z id: 7555bf95-d838-41ea-b6be-14f17cce4410 source: "TechCrunch https://techcrunch.com/2026/10/14/prismm-helps-banks-keep-inherited-money-in-house/" attribution: "Link to https://noti.group/banks-to-simplify-inheritance-process-with-new-solution-from-prismm/ and name Noti Group when you quote or summarize this story." --- # Banks to Simplify Inheritance Process with New Solution from Prismm A startup called Prismm is working on an innovative solution for banks to manage inherited money more efficiently after account holders pass away. The company's approach involves integrating beneficiary and estate planning into bank accounts from the outset, simplifying the process of transferring assets to heirs. This move aims to reduce the complexity and stress associated with managing a family's affairs in such situations. Prismm was founded by sisters Martha Underwood and Shella Sylla, who bring decades of experience in banking and finance to their venture. The idea for Prismm germinated from their personal experiences with managing their family's finances during a difficult period. Their father's hospitalization after a fall led to a chaotic situation where neither he nor his wife knew the location of critical documents and financial information. The sisters' experience stuck with them, particularly when Underwood worked at a bank during the COVID-19 pandemic. She witnessed families rushing into banks after a loved one had passed away, struggling to find accounts, understand bills, and support the surviving spouse. This was the catalyst for Underwood and Sylla to develop Prismm's mission of streamlining estate planning and beneficiary management. The sisters' own experience with their father's hospitalization in 2017 had a lasting impact on them. Their mother, who relied heavily on her husband to handle financial matters, found herself lost when trying to access critical information after his fall. The situation was avoided a crisis due to the couple's fortunate recovery, but it served as a poignant reminder of the challenges families face during such times. The idea for Prismm began taking shape in 2020, three years after their father's hospitalization. Underwood and Sylla saw an opportunity to address this pressing issue and develop a solution that would simplify estate planning and beneficiary management for banks and their customers. The issue of estate planning and beneficiary management has long been a complex and time-consuming process for banks and their customers. It's an infrastructure problem that has gone largely unaddressed until now. Underwood and Sylla recognized that existing solutions were geared towards consumer-based platforms, which often fell by the wayside when it came to actually completing tasks related to estate planning. They identified a need for a more streamlined approach that would simplify the process of managing assets and documents after an account holder's passing. With Prismm, banks can offer their customers a digital solution for managing beneficiary transfers and accessing critical information. This eliminates the need for paper-based documentation and manual processing, which can be both time-consuming and prone to errors. The system allows designated family members to access accounts and documents ahead of time, making it easier to initiate eligible beneficiary transfers after an account holder's death. Because identity, consent, and supporting documents are already on file, the process can be completed remotely, even when family members live in different locations. Prismm's solution is designed with ease of use in mind, particularly for women who often take on caregiving responsibilities. By integrating directly into bank cores, Prismm minimizes friction and makes it easier for customers to access the information they need to make informed decisions about their assets. The goal of Prismm is to provide a more efficient and effective way of managing estate planning and beneficiary management, reducing the burden on banks and their customers during difficult times. Prismm has developed two key products that help banks manage estate planning and beneficiary management more efficiently. The first product is Prismm Designate, which enables banks to offer customers a digital platform to update their beneficiaries in a straightforward manner. This streamlined process aims to make it easier for both bank customers and institutions to keep beneficiary information up-to-date, reducing the time and effort required for this task. By providing an intuitive interface, Prismm Designate seeks to simplify the often-complex process of updating beneficiaries. The second product is Prismm Anchor, a secure platform that allows account holders to centralize their financial information, including accounts, documents, property, and other assets from multiple institutions. This comprehensive view enables users to manage all their assets in one place, with designated individuals having controlled access. With Prismm Anchor available through financial institutions, customers can easily track and manage their assets without needing a separate consumer app. By providing a single, unified platform for asset management, Prismm aims to make it simpler for customers to keep their financial information organized. Prismm is also working on its third product, Prismm Continuity, which will guide staff and families through the transfer process step by step. This development seeks to alleviate some of the burden associated with estate planning and beneficiary management, keeping the most challenging aspects within the institution rather than placing them on family members. The company's approach to estate planning and beneficiary management is centered on providing a seamless experience for financial institutions. By handling these complex tasks internally, Prismm aims to alleviate some of the burden associated with transferring wealth to future generations. According to Underwood, the key to success lies in being proactive and building relationships with the next generation of consumers. This forward-thinking approach enables financial institutions to stay ahead of the curve and cater to evolving customer needs. By doing so, they can foster long-term loyalty and trust among their clients. This mindset is reflected in Prismm's participation in TechCrunch's Startup Battlefield competition, where dozens of startups and investors are gathering to showcase innovative ideas and solutions. The competition will culminate on October 15, with the winner being announced after a rigorous evaluation process. As part of its efforts to simplify estate planning and beneficiary management, Prismm is positioning itself as an essential infrastructure for financial institutions. By providing a comprehensive solution that addresses these complex issues, the company aims to streamline the process and make it more efficient for all parties involved. Prismm's focus on proactive relationship-building sets it apart from other solutions in the market. By prioritizing this aspect, the company is well-positioned to help financial institutions navigate the challenges of estate planning and beneficiary management with ease and confidence. Prismm's innovative approach to estate planning and beneficiary management has been well-received by financial institutions, which are looking for efficient ways to navigate complex regulatory requirements. The company's technology allows banks to create permit-ready blueprints in minutes, streamlining the process of managing inherited assets. By prioritizing this aspect, Prismm is poised to help banks build trust with their clients and reduce the administrative burden associated with estate planning. This move has significant implications for the financial industry as a whole, where efficiency and transparency are increasingly valued. --- Source: [TechCrunch](https://techcrunch.com/2026/10/14/prismm-helps-banks-keep-inherited-money-in-house/) Published by Noti Group: https://noti.group/banks-to-simplify-inheritance-process-with-new-solution-from-prismm/