Prismm Aims to Curb 'Estate Attrition' for Banks

Prismm, a startup founded in 2020 by Martha Underwood and Shella Sylla, is positioning itself as the infrastructure banks use to prevent "estate attrition," a phenomenon where financial institutions lose billions in deposits when heirs move inherited money to other banks.

As reported by TechCrunch, Prismm integrates directly into bank cores to digitize the transition of assets. The company offers two primary products: Prismm Designate, which allows customers to update beneficiaries digitally, and Prismm Anchor, a secure repository for accounts and property documents accessible to designated heirs. A third product, Prismm Continuity, is currently in development to guide bank staff and families through the transfer process step-by-step.

Underwood and Sylla, both banking and finance veterans, developed the concept after personal and professional experiences with the difficulties of managing family affairs during emergencies. Underwood told TechCrunch that while platforms exist for wealth growth, there is a lack of infrastructure for transition, often leaving caregivers—particularly women—to manage complex manual processes during bereavement.

By automating identity and consent verification, Prismm allows beneficiary transfers to be completed remotely. This enables banks to keep assets and the next generation of customers within their institution rather than losing them during the transfer process. The company presented its mission at the TechCrunch Disrupt 2026 Startup Battlefield in San Francisco.