For decades, finance has been overwhelmed with empty-shelf software, requiring financial professionals to curate, structure, and input data into a myriad of SaaS products. The financial services industry is a $38.6 trillion global market; labor costs are astronomical, and you and your employees spend an inordinate amount of the day playing — maybe fighting — to put information into software.
Still, FinTech SaaS has dominated for decades. We are here to tell you those businesses are small compared to what comes next. Sure, everyone will tell you AI has changed the game, and Claude Code allows them to build pretty UI interfaces, ripping out new software left and right. We get it — and we think they are missing the larger play. No AI chatbot or fun new AI tool has a chance in the world Abacus plays in. They are simply renderings of our complex financial data lake.
From SaaS to SaS to SPaS
Sequoia recently stated that for every $1 spent on software, $6 are spent on the servicing of that software. They also claim the next trillion-dollar company will be a services business. Many investors are referring to this as the transition from SaaS to SaS — Service as a Software. AI agents just doing the service, getting things done for you.
However, software actually has a material benefit to your life. It narrows the infinite list of directions your human brain could think in — the rabbit holes you could go down — to a single agreed-upon source of truth, where we can all look at the same deterministic fields that matter. This is why at Abacus we built a new multi-trillion-dollar category we call SPaS: Service Presented as a Software.
The White Glove Team, x AI Agents
At Abacus, we employ the White Glove Team of humans × AI agents — ex-investment bankers, ex-private equity professionals, and ex-family office accountants who do the hard work of structuring your entire financial life into a complex database unlike anything else in the world.
With each onboarding, these top-tier finance professionals train a complex org chart of AI agents hyper-specialized to interpret every piece of your financial life and capture them in your personal Financial Digital Key — your Abacus. Which can be rendered anywhere.
Every FinTech company you have ever encountered is now simply a rendering of Abacus.