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23 minutes | Jul 27, 2021
Branch with Atif Siddiqi | E184
Host Jason Pereira talks to Atif Saddiqi - Founder/CEO at Branch. It is a fintech that allows employees to access the money they earned before pay-check. Episode Highlights: 0.30: Atif says Branch is a payment platform that helps businesses accelerate payments to the workers to empower them. 1.27: Jason asks Atif to share about the history of Branch and what brings him to launch it?1.40: Atif has founded the company way back in 2016. This was started from his own experience as an hourly worker. 1.59: While working as an hourly worker, Atif found that a common pain point for workers is always looking for ways to earn more income.2.14: Branch was initially launched as a mobile B2B product. Over time they kept improving the process. 4.22: “A lot of employers we work with still cuts paper cheques; they don’t have a reliable way to deposit money,” says Atif. 4.31: Atif explains how Branch helps employers by providing cost-effective solutions.5.59: People can use Branch as a banking service, affirms Atif06.31: Jason inquiries from an employer’s standpoint how does Branch helps in cash flow?7.54: Atif talks about the Digital Tips, Wallets, Reimbursements, and other user-friendly services that Branch offers. 08.29: As per a recent statistic, Atif has read that there are workers who are still living pay-check to pay-check.08.48: Atif talks about the new business models that are being introduced for the benefit of various classes of workers. 10.19: Atif elaborates on the user feedback that his company has received and how its services are used. 12.32: Currently, Atif and his team are looking for saving solutions that are automated. 13.49: Jason asks about the success rate data of “Branch”.14.20: When discussing revenue strategy, Atif says that the company primarily relies on interchange revenue. 17.00: Atif talks about various target sectors and how employers benefit from Branch’s services. 18.39: Jason talks about the cognitive burden of living pay-check to pay-check. 20.11: Atif talks about the most significant challenge that he has faced so far in Branch. 3 Key Points:Atif talks about his company Branch, the reason behind its launch, and how it is benefitting employees as a modernized employer payments technology.Jason curiously inquiries about the user feedback and success story of “Branch.” When talking about their target sectors, Atif says a large staff is operating in restaurants and hospitals. This helps them to tap into a large employee population.Tweetable Quotes: “Assessing your wages should be free.” - Atif Saddiqi“Employers see Branch is a uniform solution to pay all their contractor.” - Atif Saddiqi“We have to do mental aerobics when opening a bank account.” - Jason Pereira Resources Mentioned:Atif Saddiqi: Website Facebook – Jason Pereira’s FacebookLinkedIn – Jason Pereira’s LinkedInWoodgate.com – SponsorLinkedIn – Jason Pereira’s LinkedInPodcast Editing See acast.com/privacy for privacy and opt-out information.
37 minutes | Jul 20, 2021
Purpose with Som Seif | E183
Host Jason Pereira talks to Som Seif – CEO and Founder of Purpose Financial. In today’s episode, Som is going to give his unique perspective on the FinTech industry. Episode Highlights: 0.50: Som talks about “Purpose” and the idea behind its launch. He adds that they are re-inventing the business in 4 core areas – Asset Management, Retirement, Wealth Management, and Small Business owners.03.04: Jason highlights Som’s venture capital history and success stories. 03.28: Som shares his vision about the FinTech industry. 05.57: Som discusses how he partners with people who have similar visions like him.07.14: “We have a deep understanding of our customers and their journey; this is how we solve their problems,” says Som. 09.17: Som gives detailed insight on how his company solves a customer’s problem. He also discusses the global product that they have created. 11.19: Jason and Som discuss about the regulators. Jason says that the regulators are willing to listen if you are willing to work with them. 13.12: “Innovation is extremely important in the Fintech company,” says Som.14.15: While striving for innovation, Som is constantly searching for an answer to the question – “What is going to be the ETF 2.0?”14.42: At present, Som is learning the Tokenization of things; as per him, this is the next big thing. 17.12: Som talks about a prevalent mindset that “People who have little money, makes no money.” But Som thinks otherwise.18.42: Jason asks the listeners to imagine a universe that has something different. He says one has to come out of past methods of doing business and innovate and chart out new ways.18.59: The problem with the FinTech industry is they think on average economics, says Som.20.57: Jason brings up the topic of non-technology solutions, one that is of monumental importance in the future in the financial ecosystem.23.59: Som talks about the interesting products and processes they have launched. He also talks about the “Mortality Credit” that goes to the beneficiary.26.01: Som talks about his organization’s goal “To create income for an indefinite time period.” 27.01: Som explains how he is a big believer in the advisor’s role. 29.27: The game that big institutions are playing gives advisors the cash flow, says Som.31.01: Jason and Som point out how customers want holistic solutions to their financial problems.32.20: Som advice “If you want to true high-net-worth advisor, you should have a planning mentality to truly engage the entire balance sheet of a customer as opposed to the money that you are managing for them.” 33.23: Som talks about the biggest challenges faced by him. 3 Key Points:Som shares interesting work areas of his business. He also gives insights on his vision and how he likes to connect with like-minded professionals. Jason explains how we are in the early innings of replacing ETFs. Jason and Som discuss the problems that incurred the FinTech industry. They also talk about the wrong assumptions that often circulate regarding small investors.Tweetable Quotes:“Everything looks like an opportunity in retrospect that they are going to bounce back.” - Som Seif “There is a lot to learn if you have a good relationship with the regulators.” - Som Seif“Regulators wants to see innovation and change.” - Jason Pereira“Imagine a universe with something different.” - Jason Pereira“There is a significant amount of people who needs financial advice.” - Som SeifResources Mentioned:Som Seif: Website Facebook – Jason Pereira’s FacebookLinkedIn – Jason Pereira’s LinkedInWoodgate.com – SponsorLinkedIn – Jason Pereira’s LinkedInPodcast Editing See acast.com/privacy for privacy and opt-out information.
30 minutes | Jul 13, 2021
Wise with Nick Catino | E182
Host Jason Pereira talks to Nick Catino, Head of Policy and Campaigns with Wise. It is a London-based financial technology company founded in January 2011 by Estonians Kristo Käärmann and Taavet Hinrikus. In today’s episode, Nick talks about consumer-facing products used by banks and businesses. Episode Highlights:0.38: Nick says Wise is a global payment technology company giving the best way to move money worldwide used by people who travel, live, and work internationally. 3.08: Jason asks Nick about the origin of the company, how it came to be? Nick points out Wise was founded in 2011 as Transfer wise in London. 3.10: It has two co-founders Kristo Kaamann and Taavet Hinrikus. 4.01: The company’s idea came from the analysis that consumers are getting ripped off to send abroad, and it is so central to our mission today trying the payments more transparent.5.30: Nick says living and leisure is focused on pricing across portal payments. When he travels, he keeps records of his credit card transaction receipts. When he gets back, he calculates how much he has spent, he does this for a living, and it is a complicated calculation.7.17: Jason points out, “If you are running a company and you have to buy from overseas vendors regularly, you will probably speak to your bank about what can be done, and they will graduate you up to the next level.” 8.33: Nick states, “When you are a multinational corporation or large business, you have a finance desk that is negotiating these rates in the wholesale market. 8.40: As per Mckenzie’s study report, hundred or billion dollars in fees consumers pay in small business pay per year.12.53: Jason asks Nick as a consumer, “If I have to send money somewhere in the world how can he utilize your platform?”13.08: Nick says Wise allows to send money to friends and family members on platform using their name or FI. During traveling, you can use your debit card. It is integrated with apple pay. In small businesses, you can use it for goods and services import and exports, paying workers and freelancers internationally, and combined with several accounting platforms to make easy payments.14.48: Jason asks how you enable business and how is that service different?15.14: Nick says we are making it easy for our customers to move money abroad in the business side. Small businesses are joining our services every month, and not only banks some tech companies are launching platforms that users in the US can pay directly in India or Singapore.16.45: Nick says we tried to make it easier for businesses to use our service. We started a consumer-facing brand, and there are end number of features and excited about market growth in the future by integration between business and banks. 18.15: Jason inquires, “What happens if I transact in Euros, but I don’t want Euros? Nick answers then it will automatically transact the lowest cost conversion related to the product.20.10: Nick says payments amortization has been a huge focus in many countries because it benefits consumers, and the ecosystem is very clear.23.00: Jason asks from an end-user perspective, “Why is payment amortization important?” Nick says it’s about the cost. In the UK, on average, fees are 0.4%, and money is moving instantly, but if you are Canadian or American, it is 1% or more, and money can take days to receive on the other side. 24.52: Jason says friction is in two ways one is speed, and two is basically cost, and both are impactful on the economy.26.35: Nick reiterates that a global payment company being new in the market is certainly difficult, and lack of consumer awareness about how much you are being charged while sending money abroad is a challenge we have to overcome.27.49: Jason asks Nick, “What excites him most about every day when he wakes up in the morning and keeps doing what he is doing?”27.55: Nick replies that so many smart, driven diverse people, 2400 wiser from more than 70 countries, still continue to learn about different markets in culture and take ownership with projects they are working on is the best part of working with Wise. 3 Key Points: Nick talks about the consumer-facing products used by banks and businesses to integrate APIs directly with their platforms.Nick says, “We pay fees to transfer money abroad, but we don’t realize how much we are overcharged, and many consumers and small-scale businesses are unaware of exchange rate markups.”Jason mentions like western union, you need a massive global network of fixed locations that will allocate money on one side of the border to move it to the other side of the border. Tweetable Quotes:“Business doesn’t impact revenue on the way it’s all about living methods of transparency” – Nick Catino“In 2021, sending money is like sending email” - Nick Catino“Many smart-driven diverse people, 2400 wiser from more than 70 countries continues to learn about different markets in culture and take ownership with projects they are working on.” - Nick CatinoResources Mentioned:https://wise.com/in/https://www.linkedin.com/in/nicholascatino/https://wise.com/us/blog/author/nicholas-catino/https://www.linkedin.com/in/kkaarmann/?originalSubdomain=ukhttps://www.linkedin.com/in/taavethinrikus/?originalSubdomain=ukPodcast Editing See acast.com/privacy for privacy and opt-out information.
28 minutes | Jul 6, 2021
Whatifi with Jon Cowley | E181
In today’s episode, Jason talks to Jon Cowley, founder of Whatifi. It is a visual financial planning software and tool that helps people think through various scenarios in different methodologies than people are accustomed to. Episode Highlights: 1.00: Jon says Whatifi is a highly visual low code financial scenario builder and projection platform, making it easy for professionals to visually create, calculate, present and share multiple financial scenarios to their clients.1.46: Jon doesn’t come from a Fintech background; instead, he runs a VFX company. He has created some of the coolest movies and also some of the biggest duds. A lot of these are leveraging technology workflows for Jon.3.03: Jason points out that most people think spreadsheets are developed for users, but very few people think about using presentation devices.3.48: Considering the fundamental problems, Jon had built a software that connects all the logics and events. 04.01: Because each step is separate, it is very easy to follow along with the history. Utilizing this simple concept as base, Jon thought, why can’t he apply the same logic in Finance? Whatifi uses the same algorithm and calculates all accounting data. 05.13: So far, Jason has not seen any such concept in the Finance Industry. He says that spreadsheets exist for most financial planning software. He appreciates and says that “What Whatifi has done is very simple and logical.”06.41: Jon shares excellent real-live scenarios where Whatifi’s algorithm can be used. 07.02: No, thing in our system is just a number, they are the whole set of metadata that is wrapped around, that allows downstream things to adjust accordingly.08.00: Jon talks about building a roadmap so that every single day the starting point is accurate. 09.14: Jon points out the importance of planning goals. 09.40: Every day at Whatifi Jon’s team updates the baseline to see how they are progressing.11.52: Jon shares Whatifi’s top 3 value propositions. First is with this framework, you can build scenarios far more quickly than the tools currently available. The second is the ultimate scenario. The third is Visualization.13.23: Jason says it is not the Visualization, but the Causality is very transparent. 14.01: People who are indecisive and analytical are going to love Whatifi’s tool.15.07: Jason says so many tools are niche at this moment.17.19: Whatifi is the most unique decision-making software that Jason has seen so far. He is curious to know about the responses that Jon has received so far. 18.35: Jon says that advisors really like the concept of Whatifi.20.53: Jon shares, “While we have calculation engine, we also have trigger roadmaps.”23.30: Jon would like to see more collaboration between FinTech.25.09: For Jon, the biggest challenge is that they are outsiders who are entering the Fintech world.3 Key Points: Jason asks about Jon’s history and how he came across the idea to launch Whatifi.Listeners learn that nothing in our system is just a number; they are a whole set of metadata.Whatifi is a calculation engine, and we are using it to build scenarios for people, says Jon. Tweetable Quotes:“Metadata gets modified day to day and passed down for calculations.”- Jon Cowley“No, thing in our system is just a number.” - Jon Cowley“There has always been a black box aspect to Financial Planning software.” - Jason Pereira“At the end of the day, it is all math.” - Jason PereiraResources Mentioned:LinkedIn - WhatifiLinkedIn - Jon CowleyWhatifi - WebsiteFacebook – Jason Pereira’s FacebookLinkedIn – Jason Pereira’s LinkedInWoodgate.com – SponsorPodcast Editing See acast.com/privacy for privacy and opt-out information.
32 minutes | Jun 29, 2021
Infosys with Dennis Gada | E180
Host Jason Pereira talks to Dennis Gada, Senior Vice President and Industry Head for Financial Service for Infosys. It is a global digital services company that offers end-to-end services to its clients from technology to business operations, consulting and helping them in the digital transformation journey, and helping them run in their existing business and technology operations.Episode Highlights:2.40: Jason inquires, “When companies come to Infosys for support, how do you navigate their digital needs?”4.18: Dennis explains, “We work in three different layers; driving efficiency in running business and technology operations, digital transformation of their end-to-end business process, and helping them to grow the business in a new area for consulting services.”5.10: Dennis affirms that the last 12 months post-Covid has seen significant acceleration of client journey, and we can call it a trigger, but it has been a prominent force of transformation. 5:50: Dennis says there is an enhanced expectation from that banking and financial service. Not just traditional banking but also wealth management. He adds that all of that should be much more digital, and it has forced financial services firms to become more digital than it already was.8.38: Dennis justifies that firms have been forced to drive change at such a rapid pace that decision making has been so much quicker and adopting to new technology has been so ramping.9.30: Jason says, “He wants to know the decision-making mechanism how those are going to adapt?”9.55: Dennis explains business and technology have really come much closer together. These days discussions in financial service firms are much more about - What is the next wave of digital transformation? How much you can change the customer experience? How much you can leverage cloud and AI capabilities?11.35: Dennis reiterates with all the advancement in technology that has happened, on-boarding of new clients still tends to be the most complex process, and regulations also drive it.15.30: Dennis says more and more of a partnership between fintech, and larger bank and financial service organization will help to drive the transformation instead of fintech trying to get into all banking services themself.16.10: Jason asks Dennis, “How you see the development in these institutions to continue or had a lot of change in the post covid world?”16.39: Dennis says now 99% to 100% of the workforces are working remotely and delivering great values; this is the trend that is not going to change.17.35: Dennis says the digital transformation journey that had started is not going to stop in any aspect. 20.59: Dennis says firms have realized that while investing in the cloud they have not compromised in security. Cloud is more secure if not at the same level of security, then their existing data center. That’s the mindset shift that has happened in the last year, and more and more investments are going towards the cloud.21.35: Dennis says as firms invest in the new technology of the future, they also need to re-skill their own workforce as they have already done in Infosys.22.06: Jason is curious to know about the biggest post-pandemic challenge that institutions are going to face.24.20: Dennis says there will be some key challenges to sustain the pace of innovation, manage cybersecurity-related threats and risks. He stresses on the importance of motivating the new workforce to continue to work for large bank vs tech company of fintech and deliver the same kind of productivity.24.42: Jason asks Dennis his one wish for something he wants to change in his company or industry as a whole. Dennis wishes to innovate and scale, thus making that a part of DNA that everybody wakes up every day and comes there to see how you can do things more innovatively.25.30: Jason asks Dennis about digital transformation, the biggest roadblock he had encountered while facing clients he already had. 25.37: Dennis says the biggest roadblock is cultural change. There is a mandate at the board level, CXO level. There is also a push from the market, from the client to drive change. There is a lot of democracy and a lot of constrain internally to enable that change.28.12: Dennis says re-skilling of the workforce or right re-skilling of the workforce is an important factor to balance the understanding of business in domain with the understanding of technology.28.56: Jason asks Dennis “What excites him most about every day when he wakes up in the morning and keeps doing what he is doing?”29.40: Denies replies that the exciting thing is the platform we have and the technology we use really. It helps our clients to be successful and helps their end clients manage financial life better.3 Key Points:Dennis talks about his career journey. He has been associated with Infosys for about sixteen years, and Infosys financial business has been growing significantly over the years.Dennis says digitization was not possible unless there was a new technology intervention that we have brought in; it was the automation of loan process, using AI for underwriting, using machine learning for collections, extracting information from documents so that things can be updated at a much faster rate.Jason explains, “How the countries that are still developing tend to have new and better infrastructure that can help them to adapt to the technological changes what is happening currently.”Tweetable Quotes:“Transformation of experience means a transformation of the process itself” – Dennis Gada“Digitization was not possible unless there was a new technology intervention.” – Dennis Gada“Firms have been forced to drive change at such a rapid pace that decision making has been so much quicker and adopt new technology has been so ramping.” – Dennis Gada“These days, discussions in financial service firms are much more about what is the next wave of digital transformation.” – Dennis GadaResources Mentioned:LinkedIn - Dennis Gada’s LinkedInFacebook – Jason Pereira’s FacebookLinkedIn – Jason Pereira’s LinkedInWoodgate.com – SponsorLinkedIn – Jason Pereira’s LinkedInPodcast Editing See acast.com/privacy for privacy and opt-out information.
30 minutes | Jun 22, 2021
Neo Financial with Andrew Chau | E179
Host Jason Pereira talks to Andrew Chau, CEO, and Co-founder of Neo Financial. It is a technology company that is building a better financial experience for all Canadians. Episode Highlights: 0.42: Andrew explains that Neo Financial is a Fintech company, reimagining the everyday banking experience for Canadians. The company provides a seamless consumer experience. 1.25: Andrew talks about his history. His entrepreneurship journey started when he was quite young. 04.20: Andrew shares that Neo is a credit card and bank account as well. 04.28: The bank account and the credit card connect with a network of local businesses and large national brands where Neo powers the rewards and loyalty programs.04.37: Once a user gets the Neo credit card, they get access to 1000 multiple different cashback programs. 05.10: People often ask Andrew about Neo’s chain between food delivery and banking. He says that it is a consumer-focused business.07.13: Andrew talks about the 3-minute on-boarding process that one has to go through when signing-up in Neo.07.20: The sign-up starts with downloading the app, filling out few basic information, take a selfie and picture of your ID and hit submit.09.16: With one Neo card, consumers can access all different merchants’ and partners and get cashback on them.09.22: Andres points out that typically with credit card one gets points, a person never really uses them or redeem them at the end of the year. But it is not the same with Neo.10.38: Jason inquiries about the level of engagement and how Andrew reached out to the companies. 14.01: The short-term goal of Neo is building the merchant network, helping retailers, and adding value. 17.00: Andrew and Jason discuss the competition surrounding the banking and financial sector in Canada. 18.27: Andrew talks about competing with Big 5 companies. Their business focus is “How do we create our own category and not be in the same category?”19.50: Jason is really impressed by the genius of Neo’s partnership model.21.00: Jason gives insights on small business banking in Canada.23.09: Andrew shares how with Neo they are putting the power back to consumer’s hands and freeing them from the shackles of one institution.24.31: Andrew talks about the biggest challenge he has faced to bring his company today.27.50: Andrew gives credit to his team members and says that everybody has joined Neo to make a difference. 3 Key Points:When launching Neo Financial, Andrew brainstormed, “How can we bring tech experience around banking with a bit of innovation?” Andrew shares his insights on customer experience and on-boarding at Neo.Andrew talks about Hudson’s Bay Mastercard®—powered by Neo. Tweetable Quotes: “In most cases, the top 5 apps on a person’s phone are not a banking app.” - Andrew Chau“Through Neo, we are trying to add value to Canadian’s life.” - Andrew Chau“Nobody wants to carry a bunch of cards normally for the place they eat or drink, so Neo is a good solution.” - Jason Pereira“We are looking to build the largest financial institution in Canada.” - Andrew Chau“If your business owners love the bank, they will get along.” - Jason Pereira Resources Mentioned:Neo Financial: WebsiteFacebook – Jason Pereira’s FacebookLinkedIn – Jason Pereira’s LinkedInWoodgate.com – SponsorLinkedIn – Jason Pereira’s LinkedInPodcast Editing See acast.com/privacy for privacy and opt-out information.
24 minutes | Jun 15, 2021
Nebeus with Michael Stroev | E178
Host Jason Pereira talks to Michael Stroev. He is the COO and Head of Products for Nebeus. The company is an online platform that allows people to borrow, transfer and rent cryptocurrencies.Episode Highlights:00.35: Michael introduces Nebeus as a learning platform that allows people to earn cryptocurrencies and get loans.2.14: Michel says he works on every single aspect of the company in terms of a COO. 3.55: Jason inquires, “What is the core value-proposition of Nebeus?”4.04: Michael explains Nebeus is an ecosystem of products. He adds “Our main products are launched, we have all the other products that are gone with launch, allowing our users to not leave Nebeus from any of their needs.” 4.48: Michael shares they have also added crypto-insurance to Nebeus where people can insure their cryptocurrencies with a $100 million insurance policy from Lloyd London.6.00: Jason explains “Nebeus crypto-insurance is not like protecting you from market loss but protecting from things that can go wrong with the institutions you are dealing with.”9.50: Michael says, “Our goal is to help users to keep their cryptocurrencies and their investments and not get margin calls and not get their assets liquidated, but it may happen.”10.30 Michael says it’s on users to choose what they want, and it’s on us to educate users to make the right choices and understand what they are doing.11.15: Jason asks, “How crypto renting works?” 11.20: Michael answers, “Crypto-renting is similar to crypto-savings account. People can deposit funds in crypto-renting programs, and they earn a certain percentage for APY per year.”14.10: Michael points out “Revolut allows you to send money to friends and colleagues for free, and we are doing the same with crypto.”14.31: Jason is curious to know “What Nebeus is doing on the Fintech side?”15.45: Michael says, “We have supercharged transfers technology that requires technical partnership with a company called Wolves. Here people can top-up and add funds to their new basic accounts by technology that cash directly from the bank account and transfer it to Nebeus.”16.27: Jason affirms, “You are doing everything that a bank does, in the Crypto realm.”17.45: Michael adds, “We are launching Nebeus for institutions; so, it’s the same product crypto collateralized lending for institutions, and one can get a loan for primarily reinvesting purpose.” 19.00: Michael says, “We don’t have iOS and Android apps. We started with the desktop dashboard functionality first, and I will probably do it the other way around. Internet is primarily a mobile today, so it makes sense to build app first and do the stuff.”20.30: Michael reiterates “Building trust is the key at financial sector and that in return will bring us more users.” 22.12: Michael loves building products. He says that “I love clearing concepts, I love seeing those things come to life, I like forecasting and strategizing the future of all these things.” 3 Key Points:Michael says he joined Nebeus as the Head of Products; Sergey Raomanovskiy was the founder of Nebeus back in 2014. When Nebeus was founded, it was a PHP learning platform and went through multiple alterations to become what it is today.Jason and Michael talk about Nebeus banking facilities, its costs to the consumer, and general structure. Nebeus have two loan options one is a quick loan, and the second is a flexible loan.Jason and Michael discuss about transfers. Jason asks, “Is it a standard paper crypto wallet or is it beyond crypto wallet?” Michael answers, “It is a standard type of crypto wallet although we do have a whole variety and fintech service associated with that crypto transfer can easily send, receive, deposit and stock funds.”Tweetable Quotes:“Building trust is the key at the financial sector, and that in return will bring us more users.” – Michael Stroev“Nebeus for institutions is a same product crypto collateralized lending for institutions and one can get loan for primarily reinvesting purpose.” - Michael Stroev“We have supercharged transfers technology that requires technical partnership with a company called Wolves.” - Michael Stroev“You are providing a point of sales solution, which makes a lot of sense.” - Jason Pereira“Everything is Crypto is for exchange.” - Jason PereiraResources Mentioned:https://nebeus.com/https://www.linkedin.com/in/mstroev/https://uk.advfn.com/crypto/Wolves-Of-Wall-Street-WOWSFacebook – Jason Pereira’s FacebookLinkedIn – Jason Pereira’s LinkedInWoodgate.com – SponsorLinkedIn – Jason Pereira’s LinkedInPodcast Editing See acast.com/privacy for privacy and opt-out information.
29 minutes | Jun 8, 2021
FP Pathfinder with Michael Lecours | E177
Host, Jason Pereira, talks to Michael Lecours. He is the Co-Founder of fpPathfinder. It is a flow-charting tool for advisors so that they can make better and consistent decisions. Episode Highlights:0.40: Jason is a fan of fpPathfinder, because of its sheer simplicity.1.28: Michael talks and fpPathfinder, and how it helps advisors to make informed decisions using different formats of checklists.1.57: Flow charts provided by fpPathfinder, helps on the decision-making front.2.54: Jason is impressed by fpPathfinder, and he says that an advisor who sign-up with the company can really count on it.3.32: Jason and Michael talk about the constantly changing regulations in the United States.4.03: While talking about Michael’s company, Jason points out that “The fact that we are outsourcing the cognitive decision making is just remarkable.”04.14: Jason is curious to know about the creation and story of fpPathfinder.05.00: For Michael it all started with simple errors and how to provide some clarity to a client; he made a flowchart, which was widely loved and appreciated amidst the Financial Advisors. 07.24: Michael shares how his company constantly updates the checklists, and then they try to add one or two resources every month.08.14: Michael gives insights on the background research that they do. Inevitably fpPathfinder has 3000 Financial Advisors who use its services. 10.25: Jason inquiries about the order of decision points in a flowchart.10.51: As the first step of creating a flowchart, Michael or his team members come up with the issues. Then they step back and think about the unintended effect of the flow. 11.21: Michael talks about the challenges that he faces while building up flow charts in a computer or software. He prefers to build flowcharts on a piece of paper with sticky notes.12.04: fpPathfinder was launched as a grand experiment, and one of the biggest pieces of feedback that they got early on was - “We like the flowcharts and the checklists but get your fpPathfinder off there and let me put my logo instead.” 12.23: Financial advisors did not want their clients to see fpPathfinder’s logo in the flowcharts; so one of the biggest improvements that Michael did was allow for white labelling. One was not able to change the content but was able to change the colors.13.05: A year ago, Michael and other decision-makers of fpPathfinder took a big step; a lot of their resources started interacting with the CRM systems. 15.57: Michael says that they don’t get a lot of push backs from the compliance department. 16:14: Michael says that they don’t give any recommendations to Financial Advisors; they simply say to their clients that “Consider doing this.”18.21: Jason talks about Michael’s book and the interesting stories it has. 20.30: Michael talks about his future aspirations with fpPathfinder. There are several resources that Michael and his team are planning to work on.21.33: Michael talks about tailored checklists that they are going to introduce in the future. Depending on a client’s situation, there will be a checklist that makes more sense. 21.52: Another aspect that Michael will be looking at is making the user experience more easier. 24.25: As a Financial Advisor, Michael’s biggest wish is for the industry to integrate at a higher level. 25.02: Michael reveals the one biggest challenge that he has faced to bring the company to where it is today.27.24: All day long Michael and his team focuses on what they do best. There is no project in a team where they are dragging their feet. 3 Key Points:Michael explains that fpPathfinder makes checklists and flowcharts to help advisors be more diligent in the planning process and have more diligent conversations about financial planning topics with their clients.Michael talks about “How what started as a simple PDF of a flowchart, fpPathfinder now uses various technologies. It is also integrating with different partners. Jason asks Michael, “You have got this far with what you have done. What are your future aspirations for fpPathfinder?”Tweetable Quotes:“In financial planning, things that were earlier very popular are now critical to review.” - Michael Lecours“Some of the most brilliant ideas are the simplest.” - Jason Pereira“Setting-up a flowchart is a lot more difficult than it appears.” - Jason Pereira“Reverse mortgages can make or break somebody’s retirement.” - Michael LecoursResources Mentioned:fpPathfinder: https://www.fppathfinder.com/about-us/Facebook – Jason Pereira’s FacebookLinkedIn – Jason Pereira’s LinkedInWoodgate.com – SponsorLinkedIn – Jason Pereira’s LinkedInPodcast Editing See acast.com/privacy for privacy and opt-out information.
35 minutes | Jun 1, 2021
WP Wealthtech Summit 2021 | E176
Host, Jason Pereira, talks to panelists gathered at the WP Wealthtech Summit. The topic of discussion was “How the wealth industry is adapting to technology and revolutionizing the future of advice.” Episode Highlights: 1.18: Kendra Thompson is associated as a partner in Deloitte consulting practice. She leads the business called future of advice in investing, which focuses on what Canadian families care about as related to their investments? What are they willing to pay for? and How the industry is transforming to deliver that at a scale of profit?1.55: Joseph Lo, Vice President for Wealth Product Innovation for Broadridge. It is a global fintech company focused on Artificial Intelligence (AI) to make the wealth management lifecycle better.2.05: Robert Smuk, President & CEO, Agora Dealer Services Corp. It is a B2B trading dealer created to help advisors and dealerships provide advice to all of their clients.2.33: Tom Burmeister, Vice President of Financial Planning with Naviplan and now happy to be a part of the InvestCloud family. 2.55: Jason’s first question is, “As per your experience in the fintech world, what is the most troubling trend you see happening and what are risks and opportunities coming from that?”3.25: Tom talks about e-based models that are getting more focus. The risk with that is – it is a massive change.4.13: Robert says the trend he sees right now is the client’s desire to have everything at their fingertips. “The financial services industry has been behind other industries, and our clients are now expecting what they get from other industries to be from this industry, and it is a real risk if we don’t move further.”5.12: Joseph says we need to be more open and have more APIs that enable prime ecosystems to provide choice for advisors and can use to provide the service need for clients.5.35: Kendra says she sees an acceleration in the pace of modernization and feels out differently whether you are sitting with regulators and the challenges they are going to have to deal with innovation and simplification.7.25: Jason says that the focus of fintech is often on the investment side. He inquires, “How do you see technology is used to support other areas of financial planning?”7.48: Kendra says we focus a considerable amount of our energy on the front end of value change, and that’s where a lot of noise and energy around fintech is heard.09.05: Joseph says the definition of advice is so much beyond investments now whether the advice is helping clients landing their insurance. 9.50: Robert says if we think about the expectations and if we think about the advisor’s ability to provide that meaningful advice, then, in that case, pieces of advice are much broader scope than it was in the past. You need to spend more time with the client and understand them.11.14: Jason says if you want to maintain margin, you don’t do that on the volume; you maintain base margin with volume. If you want to maintain margin, you have to be deep in that offering.12.04: Tom says we expect technology to come and transform. We need to work with stats, partners, and everybody else to make sure that when onboarding a client, we should personalize to what that client needs so that they can scale across the rest of your client base efficiently.12.20: Jason asks “How fintech influences vital space in traditional channels called banker and independent channels?”13.44: Robert says technology is at a point where the challenge in human nature is resistance to change. As people are willing to make several changes and we need to modernize our business, and so the role of fintech continues to guide us.14.16: Joseph agrees with Robert that advisors need to have a blueprint for what technology they introduce. He says fintech influence for independence is hunger for aggregation.15.45: Kendra says the most significant shift she sees, should benefit the independence is essentially recontamination of neighbor’s end from the outside.17.36: Kendra says for bank’s big challenge will be, they have a month of a merger of everything, and so for that, it must be like an internal merger about their platform and bringing all that to a single platform.18.48: Jason asks what should be the first step in terms of digitization? Joseph says the first step should be to focus on the things that are taking up the time you want to do, and secondly is really streamlining the conversations you have with clients and digitizing them.19.35: Robert says you need to understand your client’s willingness to do and willing to use.21.05: Tom affirms “You should always start with the process first, not necessarily what gets technology in reforms over process around that. You have to do several book works to find out techniques which can help you to make better from better you are.”21.30: Kendra says she will highly encourage the identification of the right partner. Added to that she will encourage a small group of individuals not to over customize any out-of-the-box technology.23.30: Jason asks What is the biggest issue in providing advice to clients in the mass market? What trends are you seeing in addressing this issue?”23.50: Tom says digitizing onboarding is the biggest battle in scaling advice and finding all the tasks.24.13: Robert says once you digitize how many systems are out there that need to go, and we are willing to accept it. Digitize it upfront first and figure out how to float it everywhere that needs to float.24.56: Joseph agrees with Robert that getting systems talking together is the expectation for the next generation. 25.31: Kendra does not agree to everything. She says, “When we think about scaling advice, we have to think about challenging the paradigm. You either get advice or you don’t.”30.48: The panelists talk about the most exciting and innovative technologies they have seen in the last 12 months.31.02: Robert talks about the “unified platform”; he has not seen it in Canada. Joseph is impressed by the AI-enabled search engine launched by “The Tifin Group.”32.34: Kendra votes for what Merrill Lynch’s digital team has done. She is really impressed by their latest launch, “Fully Digital On-boarding”. 33.21: Tom reiterates that technology is allowing us to get access to mainstream fashion. 3 Key Points: Today’s panelists are Tom Burmeister (VP of Financial Planning, NaviPlan by InvestCloud), Robert Smuk (President & CEO, Agora Dealer Services Corp), Kendra Thompson (Partner, National Wealth & Investment Management Leader, Deloitte Canada), Joseph Lo (VP Wealth Innovation, Broadridge).The panelist shares their views on the troubling trend that they see happening and what are the risks coming from that?”The wealthtech innovators talk about opportunities and unveil trends that are shaping the future of the wealth industry. They discuss the latest technology trends and how to incorporate a digital experience to accelerate business. Tweetable Quotes:“Clients are more tech-savvy than it ever been” – Robert Smuk“Technology enables to open eco systems” – Joseph Lo“It is easier to consume the trend and the changes that are closest to our own experiences” - Kendra Thompson“Investment is just one slice of what we see” – Joseph Lo“Technology is thought of equation of being successful in future” – Tom Burmeister“Vendor space is really getting better” – Kendra ThompsonResources Mentioned:https://www.linkedin.com/in/kendrathompson/?originalSubdomain=cahttps://www2.deloitte.com/in/en.htmlhttps://www.linkedin.com/in/joewlo/?originalSubdomain=cahttps://www.broadridge.com/https://www.linkedin.com/in/tomburmeisteradvicent/Facebook – Jason Pereira’s FacebookLinkedIn – Jason Pereira’s LinkedInWoodgate.com – SponsorLinkedIn – Jason Pereira’s LinkedInPodcast Editing See acast.com/privacy for privacy and opt-out information.
36 minutes | May 25, 2021
Envestnet | Yodlee with Brandon Rembe | E175
In this episode of ‘Fintech Impact’ podcast, host Jason Pereira talks to Brandon Rembe, the Chief Product Officer of Envestnet, which encompasses his role overseeing product for Envestnet | Yodlee, the data & analytics arm of Envestnet. Jason & Brandon talk about every aspect of investment and share some great ways to make people’s financial life better. Episode Highlights:00.34: Brandon states that Envestnet is a large Wealth Tech and Fintech Ecosystem that is been around the business for over 20 years with a net worth of over $4 trillion. 01.32: Envestnet has acquired a lot of start-ups and the founders are still with the organization as they continue to innovate.02.13: Jason asks Brandon about the history of Envestnet and his role in the company.03.31: As per Brandon, they worked really hard to grow the business from the breadth of what’ they’re doing and are now focused on integrating all the components. 05.50: Brandon mentions that Envestnet as a company is the glue behind all those making sure that data flows seamlessly. 07:00: To apply any intelligence to the stuff, you need to have the right data.10.01: Legacy PFM applications and personal financial management applications, were really good at telling what happened in the past and what’s happening in your account currently. 12.20: If you want to hit your financial goals, here is the thing is that you need to do, you should spend less on entertainments and you should save more.14.25: Brandon tells that they want people to feel like they have control over their financial life and they understand their financials life.18.20: People also need to keep a check on how much they spent over the last year on an average and if the expenses were meaningful?20.08: They have just launched their new trust exchange as well where people can come in and get access to trust services. 25.30: We need to empower the advisor with one allowing them to collect all the information about their clients so that they can provide the right advice.26.14: We’re also trying to centralize / decentralize through this ecosystem to reach out and get the advice from both from investor and advisor standpoint.28.16: It’s also very important for advisors now to have the conversation of you client to say, well, what’s important to you in how you get to that outcome? Do you care about your carbon footprint? Do you care about taxes? 30.05: We’re trying to help every retail customer out there to start to create that intelligent financial life through micro saving and investing.32.04: Jason asks Brandon, “If you had one wish for something changed in your company or the industry as a whole?”35.02: It’s a problem that we can solve and reduce the money and finance fences that are causing so much stress to people.3 Key Points:Financial lives are probably very different from one another and are different from others; we need to understand the complete ecosystems, make the right advice or provide the right insights to them.When you take any technology, whether that’s machine learning, or that’s a new cool app, you have to pair that with a human to get the best outcome. We can all innovate faster and provide better outcomes for clients.When people go to talk to an advisor, they expect them to be the genius on everything, but they’re also not meant to be an expert on every single financial instrument that’s out there.Tweetable Quotes:“Trying to make people’s financial lives better throughout that entire lifecycle”- Brandon Rembe“You guys are like the granddaddies of data aggregation, really are like the first major Big E myth in that space.”- Jason Pereira“Hey I want to get you on the phone right away and talk about what I need to do to provide the best outcome for me. So that type of seamless handoff between the machines is incredibly important for us”. – Brandon Rembe“Here is why I am asking all of these questions because they do have a real outcomes, what their needs are for healthcare and everything else” – Jason Pereira“It’s not only plugging them into that network, it’s then facilitating that network as well”. - Brandon Rembe“We’re really bringing some of those things down market so that people do understand how much they’re saving, spending, if they should be saving more, etc.” - Brandon RembeResources / Links:Leave your review at Apple PodcastsJason Pereira Podcasts Fintech Impact PodcastsJason Pereira WebsitePodcast Editing See acast.com/privacy for privacy and opt-out information.
35 minutes | May 18, 2021
Dataswift with Shawn Yeager | E174
Host Jason Pereira talks to Shawn Yaeger, Vice President – Sales at Dataswift, a vanguard provider of infrastructure that delivers personal data access, storage, and portability. In this episode, Shawn talks about solutions and the issues around identity rights and access to those identities. Episode Highlights:0.30: Shawn explains what does it mean by “Infrastructure that delivers personal data access, storage, and portability?”0.47: It means that for individuals, they get the security ownership and control of their private personal data.01.02: For enterprises such as Fintech, the ability to securely in a compliant fashion transact customer data without the liability of holding all of the data. 01.05: Dataswift also provides developers, open-source tools to readily built compliance, authentication, and data storage. 02.04: Shawn has 20+ years of experience in business development and sales of infrastructure software, digital media, emerging technologies, and much more. 03.00: Dataswift emerged from a multi-university research project conducted in the UK.03.03: The problem faced to solve was “How does one delivers grant and have legal ownership of data?”05.06: Jason talks about the paradigm of the market and what data looks like.06.33: Jason highlights that data rights around the world are a mess; instead of solving the problem, few countries said one could own a bucket or container of data.08.01: Shawn points out that centralized data is a liability, and it is important for enterprises to figure out how much data they want to retain?08.31: There is a calculus of determining how much data should be retained. 08.49: Shawn gives a classic example of two Dataswift’s clients: Fintech and the other from Health Tech. The clients simply wanted the score and not the underlying data. 11.37: Shawn talks from a consumer point about how does Dataswift’s product work?12.23: When logging and signing up in Dataswift, consumers gain the legal entity to own their data. 13.24: Unlike Facebook, Google, Twitter, or any other such platform, one gives access to the enterprises to own their data.13.30: When it comes to Dataswift an individual owns their own personal data lockers.16.43: Shawn talks about the hackathons organized by Dataswift. 21.06: While talking about legal ownership of data, Shawn exemplifies that Dataswift is not a company that will tell its users what should or should not be kept personal rather, the company creates standardized data conducts.22.21: Shaws talks about the pricing models of Dataswift.22.53: Jason and Shawn discuss how data is most stumbled upon in the marketplace. 3 Key Points:Shawn Yaeger talks about his history, the origin of Dataswift, and the gap in the market that led to its creation?Jason and Shawn talk about data rights worldwide and how using containers to store data is considered legal.From a consumer standpoint Dataswift communicates to its users “Why,” “What,” “When,” and “How.” The idea is to take informed consent. Tweetable Quotes:“We cannot own data, but we can own the container.” - Shawn Yaeger“People’s information is of value.” - Jason Pereira“Data rights around the world are a mess.” - Jason Pereira“Most individuals would give all of their personal data for a slice of pizza.” - Jason Pereira“Centralised data is a liability.” - Shawn Yaeger“With Dataswift you are not tying back to someone else’s access to your data, you are tying back to your own personal data lockers.” - Jason Pereira“Both parties benefits when each knows what they are doing.” - Shawn YaegerResources Mentioned:Dataswift: Website | Pricing Facebook – Jason Pereira’s FacebookLinkedIn – Jason Pereira’s LinkedInWoodgate.com – SponsorLinkedIn – Jason Pereira’s LinkedInPodcast Editing See acast.com/privacy for privacy and opt-out information.
38 minutes | May 11, 2021
Leveraging Networks with Gil Petersil | E173
In this episode host, Jason Pereira talks to Gil Petersil. He talks about how editing and auditing your networks, both online and offline, have massive impacts on your business. Episode Highlights:0.36: Gil talks about his years of experience in networking. He has set up few businesses around them. 01.32: Gil gives a little background of his career journey. He has handled various jobs with large and small brands.02.41: He adds that he has gained the required experience as a sales manager, waiter, executive, and many more; now, he can give back as a coach and teacher.05.01: Gil shares few recent examples of brands approaching him during the pandemic since people are not buying many products or services. 06.00: Gil doesn’t believe in time-consuming all-day training instead he prefers experimenting and then later sees how it works. 07.29: Gil talks about ethical deals and organizing the network effectively.11.00: Gil talks about “If I want to develop my business from 100 a month to million a month or billion in a year, it ultimately comes down to how do I transform my network.”12.58: Jason says, “At the end of the end, it comes down to relationship.13.40: Gil stresses the importance of networking and how business gets affected by poor choices. 17.56: Gil shares that he has learned some life hacks, tips, tricks, methodologies, and formulas that he has not perfected yet, but they are working very well. 19.35: For the digital marketing realm, COVID 19 was a gift for them. 20.29: Gil shares his love for those companies that decided to change their vision and mission during COVID19. 21.11: COVID19 pushed people to innovate. A classic example is Zoom calls and meetings.23.21: Jason asks Gil to share his inputs on what a financial advisor can do to strengthen their referral business. 25.36: Gil points out that it is specific to per person, industry or organization what approach they are taking. Still, he shares few impactful points. 28.23: Jason agrees to the points shared by Gil and adds that the referral business that he gets from his colleagues or competitors.30:39: Gil shares that following people, but not adding any value, disconnecting people, it is excruciating in most cases. 31.46: He adds that if we make mistakes in networking and follow those mistakes, you can do better and better every time. Make sure your networking is healthy. 3 Key Points:Jason Pereira asks Gil what is it that you do to help business?Jason Pereira and Gil discuss given the current situation organization across the globe has to strengthen their digital presence, as there is no other way around it.Gil shares that knowledge should be free. As a financial planner, if you are not giving all your knowledge for free, you are doing something wrong. Tweetable Quotes:“When talking about networking, it always comes down to the people who are around you.” - Gil Petersil“When it comes to your business, your network is everything.” - Jason Pereira“Networking is not an act of maliciousness, but an act of mutual benefit.” - Jason Pereira“During the COVID19, it is important more than ever to build a network.” - Gil Petersil“Networking is extremely painful.” - Gil PetersilResources Mentioned:Gil Petersil: https://www.linkedin.com/in/gilpetersil/ See acast.com/privacy for privacy and opt-out information.
30 minutes | May 4, 2021
FP Alpha with Andrew Altfest | E172
In this episode, host Jason Pereira talks to Andrew Altfest - Founder and CEO of FP Alpha, CFP and President of Altfest Personal Wealth Management. FP Alpha is an AI-driven comprehensive wealth management solution that helps advisors identify actionable recommendations to clients in a scalable, intelligent, and cost-efficient manner.Episode Highlights:01.16: Andrew Altfest talks about his inspiration to launch FP Alpha. In 2015 one of his advisors was asked this question “How are you different than a Robo-Advisor?”02.11: FP Alpha provides a premium wealth management experience to clients; the fee justifies the value-add service that they provide. 05.01: Andrew worked closely with his CTO, who has a background in Tech Development, and they built the first beta version of FP Alpha. It was used in his wealth management firm since 2018. Finally, in 2020 it launched it at the T3 conference. 06.27: Andrew is focused on providing financial planning for the future. He is trying to evolve financial planning to Ver 2.0.07.11: Jason talks about the other AI financial planning software that he has seen that are good. But with FP Alpha covers the semi-obvious gaps in the market. 09.44: Jason enquires about “How the tax snapshot works?”12.05: Jason and Andrew discuss how Investment is one thing, but taxation is entirely different. He is impressed by how Andrew has done extensive due diligence, and FP Alpha covers those points which can be easily missed. 16.29: Jason and Andrew talk about the pricing structures. He points out Andrew has created a very differentiated service that provides tremendous value. 18.15: Jason is really impressed by FP Alpha and asks to share Andrew about the roadmap.19.50: Andrew talks about the first-of-its-kind holistic tool that they are going to launch. 24.27: Jason talks about the reality that even if the system does all the work the level of knowledge, you have to have in order to understand why the system did what it did.25.09: Andrew reveals the biggest challenge that he has faced to bring the company where it is today. 28.50: Jason says that advisors can be indispensable at the end of the day if they provide greater and greater value to their clients. 3 Key Points:Andrew talks about his vision to help clients handle their financial issues with minimal time using advanced technology. Andrew explains, “FP Alpha extracts information using AI from documents and understands what that information is, that is then combined with algorithms and recommendations around planning opportunities are provided to advisors.”Jason talks about how he is excited about the new platform. He inquiries about the modules Andrew has built so far and the value proposition.Tweetable Quotes:“As much as we do today there is so much more that we are adding to the software.” - Andrew Altfest“I am truly excited with all this new stuff, because it is going to liberate so much more time, it is ultimately going to better client’s life.” - Jason Pereira“The best way to win pricing against commodity is not to be a commodity.” - Jason Pereira“We as an industry need our own propriety technology to showcase our value.” - Andrew Altfest“A consumer will never understand the level of complexities that a trained professional will. - Jason Pereira See acast.com/privacy for privacy and opt-out information.
37 minutes | Apr 27, 2021
The Genie with Scott Plaskett | E171
In this episode, host Jason Pereira talks to Scott Plaskett. As a financial planner, he is in the business since 1993. As a financial planner, he was looking for systems and technologies that would support the need to run the practice. Episode Highlights:01.08: Scott shares how he realized there is the ability to create processes and workflow within the systems.01.39: After facing several crashes in the system, Scott was told to put a system in place that is running on its own server. 02.16: Scott gives a piece of insightful information that his firm was one of the first firms to embrace cloud-based technology.02:30: Scott took the help of salesforce.com, which is the apple of all programs. 03:49: Jason shares his preference for salesforce and how people often think it is a CRM platform with giant data on top. It is almost like AWS of CRM.04:35: Jason is curious to know “What does Genie deliver to an advisor who is looking to automate their process better?”04:45: Scott talks about the four components in Genie: The Marketing, Sales, Process / Fulfilment, and Profit Genie. 04:55: Scott also gives insights about the phases and automation that one would go through. 07:26: Most financial advisors grow their business with referrals, and this is extremely important. 08:48: Scott talks about the education-based marketing program of Genie and how it taps the invisible market.09:58: Jason stresses the importance of putting some valuable offer or product in the bang-on impactful market.10:38: Jason asks, “How are you going to articulate your value properly so that clients say wow.”12:15: Scott explains the entire process and emphasizes that they are already overloaded with work as a financial planner, so it is extremely important to keep track of all the work. This is where the sales genie comes into the picture. 12:50: Jason agrees that he has never seen an organization succeed without a proper process. 14:12: Scott discusses the importance of fulfillment in a business. If you don’t deliver on the promise, the entire business is going to fall.17:40: Jason and Scott discuss the importance of maintaining a uniform process. 19:31: Scott tells the listeners about the profit genie, which is more about running a better business.21:56: Scott also guides the listeners that people need to put it in their hat when it comes to building a business. The only way to do that is via information. 23:48: Jason asks what is giving the users of Genie confidence?25:02: Scott explains the importance of confidence and how it helps to improve the process and generate profitable revenue. 27:04: Scott guides his clients to implement the fulfillment genie at first then worry about leads.29:03: Scott’s vision is to remove malpractice from the advised-based industry. 30:00: Jason inquires, “What is the biggest challenge while implementing Genie?”3 Key Points:Scott throws light on visible and invisible markets. For example, if you are a real-estate agent and you want a property with a waterfront area. The problem is who are the people who want to buy that property, so this comes under the invisible market.It is important to know that you have a workflow managed by a system so that you and your people always know where people are in the process. Jason enquires about those people who have used the Genie platform and how they have benefitted from it?Tweetable Quotes:“If you are a financial advisor and you don’t have leads coming in then it is not good; it’s kind of like air is to humans as leads is to financial advisors.” - Scott Plaskett“Marketing is all about building rapport.” - Scott Plaskett“Client is paying you for the process.” - Scott Plaskett“Each of the opportunities we identify have different workflows.” - Scott Plaskett“If you want to build a business you got to have a platform in place.” - Scott Plaskett“The perfect sales is when you show the people this is what you need.” - Jason Pereira See acast.com/privacy for privacy and opt-out information.
31 minutes | Apr 20, 2021
Fully Vested with Binna Kim | E170
In this episode host, Jason Pereira talks to Binna Kim founder of Vested. The company is an integrated agency of Fintech and Financial Services Firm. She jokes about her Jerry Maguire moment when she decided to quit and start her firm.Episode Highlights:02.00 – Binna talks about how brands needed to speak to their clients. Vested wants to work with the best brand in the Financial sector.03:50 – Jason talks about his personal opinion while sharing an example of his friend who is an art director at a media company and how terrible marketing he has seen.04:55 – Jason continues to share that at times how boring and repetitive few ads are.05:06 – Pointing towards the current awareness, Jason asks, “You must be seeing a lot more willingness from tech-start-ups to be different than before?”05:16 – Binna confirms that more regulations are coming into the picture for Fintech companies. 07:17 – Binna shares from her experience that not only the big firms, even the independent firms or small boutiques, come to them and say, “We want our brand to be different; we want to tell a different story.”09:41 – Jason highlights if part of your value proposition is passing on the cost-saving using digital technologies and trying to undercut the competition. 09:50 – The reality is you just destroyed the economics of that business to some degree, and you need massive volume to do that, so it’s not surprising that you will have to play sophisticated games. 11:44 – Jason enquires, “ On the start-up side when they are coming to you and saying you got the millennials now, how can we appeal those people?”12:45 – Binna shares, “They have a much stronger idea about their brand and the kind of brand that they want.” “It is about the tone that they use for branding.”14:49 – Jason raises a concern that when you are marketing one type of consumer and then you raise the bar and going beyond that, how do you help them navigate that?”15:20 – Binna highlights everybody wants to find out their competitive wedge. During such a situation, understanding your “WHY” is essential. 17: 57 – Jason adds that “Lots of companies are now changing their tone and figuring out how to enable relationships.” 19:00 – Binna shares there are so much data available, companies are using AI, ML, Data Science to know their customer20:52 – Binna answers a critical question on diversity and inclusion. When it comes to Fintech companies, the change can happen quickly, but it is not happening.22:04 – Many firms are implementing policies and including women in leadership positions, but there is still a stigma. 24:58 – Binna shares about the one thing that has come out positively in the pandemic. It has virtually connected people. 3 Key Points:Binna and Jason discuss about acquisitions; more traditional financial companies swallowing small Fintech companies; therefor enabling them to serve more affluent customers as big brands back them. Binna talks how they have created a brand that is different from the rest. We challenge people to think differently.It is essential to ask yourself, “Am I putting my money behind the right kind of company?” Even for Fintech companies, they had to take cold hard look on their “Why”?Tweetable Quotes:“Fintech companies will now have to look more grown-up” - Binna Kim“Start-ups are getting more matured in their marketing.” - Jason Pereira“If it does not cross the threshold of comfort, you have probably not reached there.” - Jason Pereira“More customers are getting to choose who they are going to work with?” - Binna Kim See acast.com/privacy for privacy and opt-out information.
29 minutes | Apr 13, 2021
Metaco with Adrien Treccani | E169
In this 169th episode of Fintech Impact, Jason Pereira, award–winning financial planner, university lecturer, writer, and host interviews Adrien Treccani, Founder and CEO of Metaco, a company that enables traditional financial institutions to offer their clients blockchain solutions!Episode Highlights:0:29 – Adrien Treccani introduces Metaco.1:06 – What brought about the genesis of Metaco?3:24 – How did Metaco solve the frictions of cryptocurrency mass adoption?6:15 – What does the client process look like with Metaco?9:16 – Is Adrien seeing a willingness to adopt blockchain solutions out of fear of future regulation?12:14 – How does Metaco’s system of hierarchies and permissions work?14:10 – Adrien breaks down the book on cryptocurrency and blockchain technology that he is currently writing.15:57 – Where does Adrien see Metaco going in the future?17:32 – What is Adrien seeing as the primary reason for purchasing crypto?20:03 – If Adrien could change one thing in his industry, what would it be?21:50 – What has been the biggest challenge in getting Metaco to where it is today?25:43 – Adrien shares what excites him the most about what he is working on.3 Key PointsRegulations, infrastructure, and a lack of market demand were the main frictions preventing institutional adoption of cryptocurrencies.Metaco has taken the best and largest traditional bank models and adjusted them for the age of digital assets.At this stage, Adrien is not seeing massive adoption of cryptocurrencies as payment options, rather as an investment. Tweetable Quotes:“Governance we think is really where we find is in pretty much everything on the market today.” – Adrien Treccani“The fact of the matter is having some degree of optional socialization is a comfort that most investors will ask for.” – Adrien Treccani“Having one person with control over the keys is not a smart thing because what happens if that one person goes?” – Jason Pereira“Anyone who laughed at the concept of tokenizing asset classes just didn’t understand.” – Jason Pereira Resources Mentioned:Facebook – Jason Pereira’s FacebookLinkedIn – Jason Pereira’s LinkedInFintechImpact.co – Website for Fintech ImpactJasonPereira.ca – Sign up for Jason Pereira’s newsletterWoodgate.com – Website for Woodgate FinancialMetaco.com – Website for Metaco See acast.com/privacy for privacy and opt-out information.
34 minutes | Apr 6, 2021
Cinchy with Dan DeMers | E168
In this 168th episode of Fintech Impact, Jason Pereira, award–winning financial planner, university lecturer, writer, and host interviews Dan DeMers, CEO and Cofounder of Cinchy, a next–generation data–management platform that utilizes data fabric with the end goal of data autonomy!Episode Highlights:0:43 – Dan DeMers introduces himself and Cinchy.2:27 – What was the problem that Dan was trying to solve when he started Cinchy?5:05 – Dan and Jason discuss the nature of code and the realization of data as a core asset.6:56 – Jason and Dan explain why the silo system is not scalable.10:09 – What are the hurdles and limitations of data lakes?11:48 – Dan explains “data fabric” and what problems it solves.15:21 – Jason and Dan discuss the relation of Metcalfe's Law to data fabric.17:33 – Dan and Jason explain the value of data and what it means to every individual.22:14 – What kind of reception has Cinchy gotten from the major institutions that it works with?26:52 – Jason and Dan explain why we are on the cusp of a generation of people who all do some form of coding.29:31 – If Dan could change one thing in his industry, what would it be?31:29 – What has been the biggest challenge of getting Cinchy to where it is today?32:29 – Dan explains what excites him the most about his work.3 Key PointsRoughly 50% of all IT budgets go to integration and data management, including APIs and all the byproducts of data being fragmented.Data lakes are filled with fragmented and unorganized data with quality issues that allow you to do analytics at best because it is all just a copy.Acceleration of low–code and no–code has put the world on the cusp of a generation of which everyone knows how to code to some degree. Tweetable Quotes:“We’re so used to a world where data is siloed and it’s subservient to an application.” – Dan DeMers“If you ever have to rekey something into two different systems, it’s a failure.” – Jason Pereira“If I have to pay my vendor to access my data, is it really my data?” – Jason Pereira“You have to take the action. It’s not going to fix itself. The data is not going to self–repair, sadly.” – Den DeMers Resources Mentioned:Facebook – Jason Pereira’s FacebookLinkedIn – Jason Pereira’s LinkedInFintechImpact.co – Website for Fintech ImpactJasonPereira.ca – Sign up for Jason Pereira’s newsletterWoodgate.com – Website for Woodgate FinancialCinchy.com – Website for Cinchy See acast.com/privacy for privacy and opt-out information.
32 minutes | Mar 30, 2021
Epilogue Wills with Arin Klug | E167
In this 167th episode of Fintech Impact, Jason Pereira, award-winning financial planner, university lecturer, writer, and host interviews Arin Klug, Cofounder of Epilogue, an online will kit that helps people leave behind a legacy that does not bring their loved ones massive pain by enabling them to take control of their will!Episode Highlights:0:32 – Arin Klug introduces Epilogue and how it helps people.1:06 – How did Epilogue come to fruition and what motivated its creation?3:38 – What is the average situation that Epilogue applies to?5:10 – Where is the line drawn for Epilogue when it comes to whose will it can help create?10:23 – Jason and Arin discuss the value of lawyers in the will process.11:50 – What does the Epilogue client experience look like?14:26 – Arin explains what happens when there are changes in estate law.16:50 – Jason and Arin discuss how the costs of lawyers interrupt changes to the will.20:17 – Does everyone really need to pay for the premium financial planning services?21:23 – Arin breaks down the four documents that are included in Epilogue’s process.24:27 – Where does Arin see Epilogue going from here?27:51 – If Arin could change one thing in his industry, what would it be?28:15 – What has been the biggest challenge of getting Epilogue to where it is today?29:53 – Arin explains what excites him the most about his work.3 Key PointsEpilogue helps people create a legally binding will in as little as twenty minutes online, a far cry from the months–long process for a typical will.Arin and his business partner started Epilogue with the thought of how many people they could disqualify from the process because they know that no system is right for everyone.Funeral instructions included in the will are not legally binding, so Arin advises his clients to put those in a separate document and share those with family members to make sure that they are carried out. Tweetable Quotes:“If you want your family to hate you after you’re gone, go ahead and die without a will.” – Jason Pereira“You can’t write a will that’s against public policy and public policy is always changing.” – Arin Klug“The perception of cost often leads to conversations not even happening in the first place.” – Jason Pereira“Death hurts the living as much as it hurts the dead.” – Jason Pereira Resources Mentioned:Facebook – Jason Pereira’s FacebookLinkedIn – Jason Pereira’s LinkedInFintechImpact.co – Website for Fintech ImpactJasonPereira.ca – Sign up for Jason Pereira’s newsletterWoodgate.com – Website for Woodgate FinancialEpiloguewills.com – Website for Epilogue See acast.com/privacy for privacy and opt-out information.
30 minutes | Mar 23, 2021
Timeline with Abraham Okusanya | E166
In this 166th episode of Fintech Impact, Jason Pereira, award-winning financial planner, university lecturer, writer, and host interviews Abraham Okusanya, CEO and Founder of Timeline. Timeline is an online platform that allows people to stress test the decumulation phase of their life and come up with a plan to deal with it!Episode Highlights:0:34 – Abraham Okusanya introduces Timeline.1:18 – Jason discusses the conflicting aspects and uncertainty of decumulation.1:52 – What was Abraham’s journey that led him to start Timeline?5:47 – Jason explains his biggest problems with financial plans.6:27 – What are the client inputs and outputs involved when working with Timeline?10:36 – Abraham explains how Timeline compares client expectations to reality.12:31 – What are the various spending rules that Timeline uses to adjust based on reality?16:54 – How does Timeline’s Floor and Ceiling rule work?18:39 – Abraham compares Timeline’s Floor and Ceiling rule to Michael Kitces’s Ratcheting rule.22:13 – Jason and Abraham discuss the benefits of discussing the realities of volatility with the client.23:02 – What is a withdrawal policy statement and what does it tell people?25:42 – If Abraham could change one thing about his industry, what would it be?26:32 – What has been the biggest challenge in getting Timeline to where it is today?27:51 – Abraham shares what excites him the most about his industry.3 Key PointsTimeline is a retirement income platform that helps financial planners and enterprises create simple withdrawal strategies for their clients by applying extensive data.Right now, most people are expected to run out of money ten years short of the average life expectancy.Timeline’s Floor and Ceiling rule affects how you increase your withdrawal based on inflation and portfolio performance.Tweetable Quotes:“Ultimately, our mission is to create retirement income plans where the money outlives the people.” – Abraham Okusanya“The Law of Gravity is a law because it’s an observed law and we know it’s going to work. The 4% rule is not a law, it’s an observation.” – Jason Pereira“That’s the worst thing, an academic or a researcher will create something that a marketing department will run rampant with.” – Jason Pereira“All we can do is to bring the reality of volatility straight in front of them because they are far better prepared for it.” – Abraham Okusanya Resources Mentioned:Facebook – Jason Pereira’s FacebookLinkedIn – Jason Pereira’s LinkedInFintechImpact.co – Website for Fintech ImpactJasonPereira.ca – Sign up for Jason Pereira’s newsletterWoodgate.com – Website for Woodgate FinancialTimelineapp.com – Website for TimelineKitces.com – Website for Michael Kitces See acast.com/privacy for privacy and opt-out information.
30 minutes | Mar 16, 2021
Zafin with Meenaz Sunderji | E165
In this 165th episode of Fintech Impact, Jason Pereira, award–winning financial planner, university lecturer, writer, and host interviews Meenaz Sunderji, the Executive VP at Zafin. Zafin is a banking software platform that helps financial institutions personalize their services for their customers!Episode Highlights:0:31 – Meenaz Sunderji introduces Zafin and its services.1:32 – What led to the creation of Zafin?4:31 – Meenaz and Jason dive into what Zafin does for its clients.6:11 – How many different Legacy COBOL systems was Zafin dealing with to create a unified view?8:33 – Did any financial institutions come up with a long–term strategy before Zafin came into the picture?9:50 – Jason and Meenaz explain the difficulties of putting multiple product lines into one framework.15:00 – How has Zafin dealt with financial restrictions and regulations around the world?18:19 – Meenaz breaks down how a large publicly-traded company re-engineers its incentive program for the longer term.20:43 – Jason and Meenaz discuss the opportunities and worries for banks and fintech companies.23:30 – Meenaz explains how focusing on the customer can build lifelong relationships.24:27 – Jason and Meenaz dive into infrastructure and the future of embedded finance.27:19 – What would Meenaz change about the banking industry?28:00 – Meenaz shares Zafin’s biggest challenge to getting where it is today.28:37 – What excites Meenaz about his work today and in the future?3 Key PointsZafin monitors a variety of financial information to personalize customer pricing and create customized incentive programs.Silos of customer incentive programs are breaking because banks realize that they are going to lose money if they continue to group customers like that.Jason and Meenaz believe that old institutions will provide the infrastructure for new financial institutions to move into the future of embedded finance.Tweetable Quotes:“You are a next–best–action engine that sits over top of their banking system in between the client and their offering.” – Jason Pereira“With competition, like we have in our space, it drives to become better, otherwise you won’t survive.” – Meenaz Sunderji“The traditional banks stand a chance of losing the customer relationship but still handling the plumbing.” – Jason PereiraResources Mentioned:Facebook – Jason Pereira’s FacebookLinkedIn – Jason Pereira’s LinkedInFintechImpact.co – Website for Fintech ImpactJasonPereira.ca – Sign up for Jason Pereira’s newsletterWoodgate.com – Website for Woodgate FinancialZafin.com – Website for Zafin See acast.com/privacy for privacy and opt-out information.
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