Fintech Impact

Summary:In this 113th episode of Fintech Impact, Jason Pereira, award-winning financial planner, university lecturer, writer, and host interviews Zack Brown, Vice President of Sales at Dialogue in Montreal. Dialogue is a telehealth service that enables you to access healthcare right from your smart phone in a fast, user-friendly, and convenient manner. Zack Brown discusses how Dialogue began, how they service their ideal customers, and the benefits of Dialogue. Episode Highlights: ● 00:55: – Zack Brown defines Dialogue and how it got started. ● 01:59: – What is the origin of Dialogue? ● 04:44: – What are the main uses for the app? ● 10:51: – How is focusing on the employer market working out for Dialogue? ● 17:50: – Why was Germany the first non-domestic expansion of Dialogue? ● 20:15: – What has the user feedback been looking like? ● 22:38: – What would Zack Brown change in his business or industry? ● 23:31: – What has been the biggest challenge to get the company where it is today? ● 25:17: – What is the most exciting thing that they are working on? 3 Key Points 1. When using the Dialogue app you can contact a healthcare practitioner within minutes and receive services such as prescriptions, lab requisitions, navigation through the healthcare system, and referrals to a specialist. 2. Employers are paying for Dialogue’s service to help reduce absenteeism. 3. Dialogue’s Net Promoter Score feedback metric is on par with Apple and Tesla. Tweetable Quotes: ● “We are a virtual healthcare company. We are headquartered in Montreal with operations all over Canada as well as in Germany.” – Zack Brown ● “We are focused exclusively on working with business leaders, HR leaders, in effectively large groups to provide services at scale and to add value to the user, the patient, and as well as the payer.” – Zack Brown ● (Using Dialogue) “On average, users report saving more than four hours per interaction.” – Zack Brown Resources Mentioned: ● Facebook – Jason Pereira’s ● LinkedIn – Jason Pereira’s ● FintechImpact.co – Website● JasonPereira.ca – Jason Pereira’s newsletter ● Linkedin – Zack Brown’s ● Dialogue – Website ● Linkedin – Dialogue’sFull Transcript Hosted on Acast. See acast.com/privacy for more information.

Summary:In this 112th episode of Fintech Impact, Jason Pereira, award-winning financial planner, university lecturer, writer, and host welcomes Natalie Sunderland, Chief Marketing Officer of Addepar, to talk about embracing risk, the benefits of technology, and the importance of advancing data reporting in wealth management. Episode Highlights: ● 01:03: – Addepar is a wealth management platform that specializes in data aggregation and performance reporting that currently has $1.7 trillion being managed on the platform. ● 02:10: – Addepar was founded in the wake of the financial crisis when the founder was struggling to understand how the crisis was impacting their assets. ● 03:53: – Getting a complete picture and understanding your assets is even more difficult now that people often split up their assets into different accounts, different financial institutions, and with different wealth managers. ● 05:22: – Financial advisors are limited in the advice they can give clients by the legacy software and tools they have. ● 06:40: – Addepar strives to create a friction-free experience for wealth managers and their clients, including the use of a mobile app. ● 08:50: – Addepar’s core value proposition is to aim to serve those who manage wealth and allow them to create tailored conversations with their clients. ● 10:08: – The Addepar interface is referred to as “Apple lite” and is very intuitive. ● 10:58: – The platform is customizable and allows wealth managers to include their own branding on reports. ● 13:55: – Having a personal conversation with your financial advisor shouldn’t be reserved only for those with ultra-high net worth. ● 15:42: – Advisors have said that with Addepar, activities that used to take them days now only take them hours or even minutes to complete. ● 17:10: – Addepar has built over 200 pipes from scratch to different banks to ensure they have the highest quality data rather than using scrapers. ● 21:42: – If Natalie could change one thing it would be to help these firms to embrace more risk. ● 22:48: – The biggest challenge for Natalie has been building a story for a company that is 10 years old, and also helping the market understand that Addepar isn’t a niche product or solution. ● 24:40: – Natalie is most excited about the investment they’re making to improve the experience for clients who use the platform, and the overall data opportunity. 3 Key Points 1. Understanding your assets is even harder when they are divided among multiple financial institutions. 2. Addepar allows you to create custom reports in moments, built to answer specific questions. 3. Improving data collection and reporting allows for more personally tailored conversations between wealth managers and their clients. Tweetable Quotes: ● “There are some pretty complex assets out there and we could provide a very valuable service to the wealth managers and their clients to truly help them understand, get that 360 view, and help them make better decisions.” –Natalie Sunderland ● “Independent advisors who choose Addepar are doing so because they realize the value that technology can bring to helping them scale their practices, becoming much more efficient, and being able to service their clients in a way they demand it these days.” –Natalie Sunderland ● “One of the things I’m excited to do is help the market understand the capabilities that we have and help them realize that moving from legacy to modern technology doesn’t have to be as painful as they think it will be.” –Natalie Sunderland Resources Mentioned: ● Website – Jason Pereira’s Website ● Facebook – Jason Pereira’s Facebook ● LinkedIn – Jason Pereira’s LinkedIn ● FintechImpact.co – Website for Fintech Impact ● https://www.addepar.com/ – Addepar Website ● https://www.linkedin.com/in/nataliesunderland – Natalie Sunderland’s Linkedin Full Transcript Hosted on Acast. See acast.com/privacy for more information.

Summary:In this 111th episode of Fintech Impact, Jason Pereira, award-winning financial planner, university lecturer, writer, and host welcomes J. Paul Haynes, President and COO of eSentire, to talk about evolving cybersecurity threats, the challenges of the mid-size market, and more. Episode Highlights: ● 00:58: – eSentire is disrupting the way cybersecurity is managed. ● 03:28: – There are over 70 categories of cybersecurity companies because the problem keeps changing as technology evolves. ● 05:00: – eSentire serves mid-size companies with between 200-2,000 employees. ● 07:05: – Instead of offering certain features, eSentire sees themselves as a threat partner, making decisions about traffic and servers as if they were an employee of your company. ● 09:01: – eSentire was one of the first to solve security issues with hedge funds. ● 10:20: – A security breach with a hedge fund would be not just a reputational hit, but could end the business. ● 11:17: – A security analyst can identify the details of a threat as it happens, isolate it, and use that model as an update for all of their subscribers and are able to shut it down across their network. ● 16:55: – When a threat is detected, eSentire has eyes on it in under 1 minute and has usually completed its investigation within 10 minutes. ● 19:05: – They see somewhere between 7-10 million raw events every day, and of every 1,000 of those only about 1 needs to be investigated by a human. ● 21:48: – Half of the threats they see every day are unique to their network. ● 22:50: – When J started in this business 10 years ago, threats were measured in the 6 week range, and now it’s in the 5-7 day range, but eventually it will be down to minutes and seconds and the threat detection industry has to be able to keep pace. ● 23:30: – These breaches are mostly committed by opportunistic criminals, so you look at means, motive, and opportunity. ● 25:45: – As quantum computing becomes mainstream, we will first have to worry about state secrets of smaller nation-states. ● 28:39: – Most of these efforts are information-gathering rather than disruptive. ● 30:10: – A majority of data breaches are from self-inflicted wounds like clicking a link in a trusted partner’s email that you don’t know is compromised. ● 31:21: – If J could change one thing, it would be to flip the industry so that security conversations are had on the business’s terms instead of the tech terms to help with overall understanding of stakes. ● 34:39: – J’s biggest challenge has always been recruiting the talent he needs. ● 36:36: – What excites J the most is that there’s always a new challenge. 3 Key Points 1. The needs of cybersecurity are constantly evolving as technology evolves. 2. Many cyber threats seem innocuous and go unnoticed because they are information-gathering rather than disruptive. 3. AI improves how quickly a threat can be identified but we still need humans to verify and respond to those threats. Tweetable Quotes: ● “We will be your threat management partner... We will make decisions as though we were one of your employees. We will actually block traffic and we will shut down servers and then we will tell you what we were just able to stop.” –J. Haynes ● “The notion of relying exclusively on protective controls as the 100% solution is naive. They will fail, so you have to get competent at detecting when they fail and be able to react to that in a timely fashion.” –J. Haynes ● “No matter how good the AI gets, bad guys have AI too. They have cloud storage, they have all of the things that we have without any of the friction of rules of business or regulations. I often say, while they are morally corrupt, they are phenomenally gifted.” –J. Haynes Resources Mentioned: ● Jason Pereira’s Website | Facebook | LinkedIn ● Fintech Impact ● eSentire Website ● J. Paul Haynes Linkedin Full Transcript Hosted on Acast. See acast.com/privacy for more information.

Summary:In this 110th episode of Fintech Impact, Jason Pereira, award-winning financial planner, university lecturer, writer, and host welcomes Ohad Samet, Co-founder and CEO of True Accord, to talk about leading with empathy even in debt collection, how True Accord’s debt collection model has impacted both creditors and debtors, and more.Episode Highlights:00:37: – True Accord is a machine learning-based digital debt collection platform used by creditors and financial institutions.01:57: – Others often see people in debt either as villains or as victims.05:00: – The majority of people have debt collection horror stories, but the people working as debt collectors aren’t bad people, but the way the industry is structured, they are incentivized to do things that create a bad experience.05:55: – True Accord’s machine learning helps track user behavior to determine the best way to reach each customer and when to have human interaction versus digital intervention.10:35: – At first, Ohad would get laughed out of offices and was being threatened by other creditors.11:50: – Ohad sees True Accord as the payment provider for creditors.13:15: – Traditional debt collection models pressure customers to pay as much as possible over the phone instead of committing to a payment plan that will actually work for them, so by working with the customer empathetically to find manageable payment plans that customers will actually stick to, True Accord sees higher rates of return.14:41: – Their first communication with customers is always an email.16:30: – True Accord fits to customer’s schedule both in terms of times that they can access the system to pay and what their individual cash flow is like.19:50: – The biggest surprise for Ohad has been that their clients have been surprised by how few complaints they receive about their debt collection.22:55: – True Accord could really only exist now because of how technologically enabled it is; the overhead would have been much too high several years ago.24:33: – If Ohad could change one thing, it would be the mindset of some of the major financial institutions to make them care about user experience.26:07: – The biggest challenge has been compliance.27:48: – Ohad is most excited about the company’s Slack channel sharing compliments from customers.3 Key PointsProviding a good user experience for debt collection benefits both brands and their customers.Existing debt collection incentive structures encourage call center operators to be dehumanizing and lack compassion.Machine learning technology is what has enabled intelligent communication with customers to happen on their terms.Tweetable Quotes:“You have to have an empathetic approach to a complex issue, and you can solve it, you can help people end up on the good side of things.” –Ohad Samet“People come home after their second shift and they can engage with us and pay on their own terms, and that’s the important thing. Fitting to their payment periods, fitting to their unreliable cash flow, and that’s a lot of the negotiation.” –Ohad Samet“We needed to be in the right intersection between understanding compliance, caring about the problem, and knowing how to use technology to solve it.” –Ohad SametResources Mentioned:Website – Jason Pereira’s WebsiteFacebook – Jason Pereira’s FacebookLinkedIn – Jason Pereira’s LinkedInFintechImpact.co – Website for Fintech ImpactTrue Accord Website – https://www.trueaccord.com/Ohad Samet Website – https://www.ohadsamet.com/Ohad Samet Linkedin – https://www.linkedin.com/in/osametOhad Samet Twitter – https://twitter.com/ohadsametFull Transcript Hosted on Acast. See acast.com/privacy for more information.

Summary:In this episode of Fintech Impact, Jason Pereira, award-winning financial planner, university lecturer, writer, and host interviews returning guest Samantha Russell, Chief Marketing & Business Development Officer at Twenty Over Ten. This time around, instead of discussing Twenty Over Ten, Samantha has come to talk about Lead Pilot, which is Twenty Over Ten’s content marketing platform for financial advisors. Samantha also explains inbound marketing, why it is so effective, and how inbound marketing differs from short-form marketing. Episode Highlights: ● 00:50: – Samantha Russell defines Lead Pilot. ● 02:43: – What led to the creation of Lead Pilot? ● 04:27: – What is inbound marketing and why is it so effective? ● 07:17: – You can’t expect results if you are not trying or doing the right things. ● 09:16: – How does inbound marketing differ from short-form marketing? ● 12:19: – Samantha provides advice for those that don’t think they have enough time for inbound marketing. ● 15:35: – What types of content can people currate on Lead Pilot? ● 18:01: – How is Lead Pilot reporting metrics back to advisors? ● 19:52: – What content platforms are available for integrating and posting? ● 20:30: – What amount of labor does an advisor have to put into Lead Pilot for it to work for them? ● 24:00: – What else would Samantha Russell like people to know about Lead Pilot? ● 25:11: – Is there something in the industry or the company that Samantha Russell would like to see change? ● 26:02: – What has been the biggest challenge to getting Lead Pilot to where it is today? ● 27:29: – What excites Samantha the most about what she is working on? 3 Key Points 1. Lead Pilot allows for content creation, landing pages for the dissemination of that content, social media scheduling, email marketing, and the gathering of your prospect’s data as they engage with the content. 2. Inbound marketing involves providing as many answers and as much helpful information to anybody that wants it for free. Then those people absorb that information and come to you when they are ready to engage with your services. 3. 70% of the buying decision is made online before the customers ever contact you. Tweetable Quotes: ● “Lead Pilot is an inbound marketing platform that makes it easy for advisors to manage and automate all of their marketing messages in one place.” – Samantha Russell ● “We really see the future of marketing in 2020 and this next decade consisting of two things, personalization and automation, and our platform allows advisors to handle both of those.” – Samantha Russell ● “Quoting Michael Kitces here, he had a great quote where he said, ‘Would you hand over your life-savings to someone before looking them up on Google?’ And the answer is ‘no, absolutely not.’” – Samantha Russell Resources Mentioned: ● Facebook – Jason Pereira’s ● LinkedIn – Jason Pereira’s ● FintechImpact.co – Website● Linkedin–Samantha Russell ● twentyoverten.com – Website ● Lead Pilot – Website ● They Ask You Answer by Marcus Sheridan–BookFull Transcript Hosted on Acast. See acast.com/privacy for more information.

Summary:In this 108th episode of Fintech Impact, Jason Pereira, award-winning financial planner, university lecturer, writer, and host welcomes Daryl Hatton, Founder and CEO of Connection Point, to talk about Connection Point’s crowdfunding model, some major successes challenges the platform has faced, the psychology behind philanthropy, and more. Episode Highlights: ● 00:35: – Connection Point is a social commerce company that helps people crowdfund money for personal and professional/non-profit organizations. ● 02:50: – Connection Point began as a fundraising site for unregistered and non-charitable non-profits like children’s sports teams. ● 05:25: – They were one of the 30 companies included in Facebook’s beta for the Timeline feature to know how it worked ahead of time. ● 06:20: – The site allows companies and groups to use their own branding on their funding campaigns. ● 07:10: – The site includes technology called Coco Pay to allow companies to help potential customers crowd fund to purchase their product. For example, individuals with mobility issues crowd-funding to purchase a bike. ● 13:10: – The platform has now had to prevent defendants in violent crimes from fundraising for their legal defense due to the negative pushback from the community. ● 14:45: – The platform can be used to collect subscription or membership payments from supporters. ● 17:52: – It is free to begin using Connection Point and even to fundraise (less transaction fees, which no one can avoid) and optional to add a “tip” to each transaction for the platform. ● 20:53: – University of California used the platform to raise over $3 million to fund a study into the human microbiome. ● 22:50: – Another group funded several projects at Burning Man. ● 24:18: – If Daryl could change one thing it would be for people to take a broader view of what crowdfunding can be and be used for beyond the GoFundMe model. ● 29:00: – If you can see the impact of your donation, you’re more likely to give again. ● 30:22: – The biggest challenge has been funding and finding investors. ● 31:50: – What Daryl finds most exciting is the cumulative impact that Connection Point can have. ● 32:42: The platform has raised $160 million for over 200,000 projects in over 40 countries so far. 3 Key Points 1. Connection Point expands how people think about crowdfunding and its potential use cases. 2. Millennials are more philanthropic than we give them credit for. 3. Small donations on small projects can make a huge cumulative impact on the world. Tweetable Quotes: ● “I think it should be all about my customer and their brand experience, not mine. I’m not trying to push my Indiegogo and Kickstarter brand, I’m trying to say hey, what’s your product?” –Daryl Hatton ● “One of the things we’re looking at is how do we make philanthropy more of an entertaining experience? Because the feelings we get from giving are very similar to the feelings we get when we consume entertainment, like a movie.” –Daryl Hatton ● “Good natured people are a platform” – Daryl Hatton Resources Mentioned: ● Website – Jason Pereira’s ● Facebook – Jason Pereira’s● LinkedIn – Jason Pereira’s● FintechImpact.co – Website● Connection Point website – https://connectionpoint.com/ ● Fundrazr website – https://fundrazr.com/ ● Community website - ● Daryl Hatton Twitter – https://twitter.com/darylhatton ● Daryl Hatton Linkedin – https://www.linkedin.com/in/darylhatton Full Transcript Hosted on Acast. See acast.com/privacy for more information.

Summary:In this 107th episode of Fintech Impact, Jason Pereira, award-winning financial planner, university lecturer, writer, and host interviews Garrett Viggers. Co-Founder at Limelight Health, a company that is working to digitize the entire experience of insurance applications from start to finish. Garrett Viggers talks about how Limelight Health got started, obstacles in getting the industry to accept innovation, and not trying to be a one-stop solution for everything. Episode Highlights: ● 00:08: – Check out JasonPereira.ca to sign up for the newsletter and notifications. ● 00:51: – Garrett Viggers describes Limelight Health. ● 02:07: – What really drove the foundation of Limelight Health? ● 04:35: – How did his first experiences go with insurance companies trying to show them that there is a better way? ● 11:16: – Limelight Health is not overextending itself to try to be a policy admin system, CRM, or an enrollment platform. ● 11:54: – Are they running into the ‘one magic bullet solution’ syndrome in the insurance world? ● 14:56: – It is important to understand the ecosystem. ● 16:14: – What is causing the pushback from admins? ● 18:12: – What have been the success stories? ● 20:41: – The strategy to make things difficult is not a winning strategy. ● 27:12: – Jason shares a common podcast saying, ‘The reason that fintech exists is because traditional carriers allowed it to exist.” ● 33:21: – What would Garrett change in his business or his industry? ● 36:40: – What has been the biggest challenge in his business? ● 39:44: – What is the most exciting thing Garrett Viggers is working on? 3 Key Points 1. Streamlining down to one tech solution has negative effects such as increasing risk not getting a great solution and needs not being met. 2. Getting broker admins to accept online enrollment instead of paper is of high value. 3. You can’t build your experience for the naysayers who want to operate the way they did 20 years ago. Tweetable Quotes: ● “We are really focused on new business renewals and making that a beautiful experience for group products & group carriers working with their distribution partners.” – Garrett Viggers ● “We started with medical. We went from phone, iPad, to full desktop because the feedback was, ‘Hey, does it work on Internet Explorer 6?’ We were thinking, can you just use Google Chrome?’” – Garrett Viggers ● “We realised that we have to solve the carrier’s problem so they can actually best serve their brokers.” – Garrett Viggers Resources Mentioned: ● Facebook – Jason Pereira’s ● LinkedIn – Jason Pereira’s ● FintechImpact.co – Website ● JasonPereira.ca – Website ● Linkedin –GarrettViggers ● Limelight Health – Website Full Transcript Hosted on Acast. See acast.com/privacy for more information.

In this 106th episode of Fintech Impact, Jason Pereira, award-winning financial planner, university lecturer, writer, and host welcomes Filipe Castro, co-founder and CIO of Utrust, to talk about Utrust’s growth strategy, how blockchain payment technology competes with credit cards and other existing forms of payment, the future of payment tech, and more.Episode Highlights:00:55: – Utrust is a platform that enables e-commerce merchants to accept various forms of cryptocurrency as payment.01:24: – Filipe met his co-founders online in 2010 in cryptocurrency and blockchain forums.03:30: – On the merchant’s side, they don’t have to worry about the accounting or conversion of cryptocurrency, because Utrust handles all of that automatically on the back end and the merchant simply receives their US Dollars or Euros or whichever currency they operate under.04:28: – For the user, you select Utrust as your payment method, which takes you to the Utrust website and allows you to select and set up your crypto wallet with a QR code.06:00: – Utrust currently has ten vendors using the platform because they had to select the optimal vendors to start the platform with in order to optimize the experience and collect the data needed to scale up effectively.07:30: – Utrust has competitors, but most of the vendors that were interested in using Utrust approached them, not the other way around, partly because it’s free to integrate.09:23: – Filipe believes Utrust is the best solution because it has the strongest community support and a seamless integration, which is crucial for a blockchain technology.10:17: – Transaction fees are competitive with regular credit cards, at only 1%.11:30: – Currency conversion happens almost instantaneously to protect both the merchant and the consumer, so the merchant gets the price they listed and the consumer isn’t overcharged due to fluctuating conversion.13:04: – Utrust is compatible with any wallet that supports scanning a QR code.14:38: – Having a diverse range of merchants on board with Utrust allows them to collect more accurate metrics to perfect the platform more quickly.19:20: – For the user, there is almost immediate settlement of payment, and for the merchant you get a notification of incoming payment and the settlement depends on the cryptocurrency protocol.22:37: – Filipe is paying attention to growing competition, but acknowledges that we are still in the building phase of this space where major players haven’t entered crypto yet.27:30: – If Filipe could change anything, it would be for all the communities in blockchain to simply get along better and coexist better.28:53: – The biggest challenge has been establishing a company culture and building a team as a startup.29:45: – Filipe is excited by the way Utrust is changing the future of payments to empower consumers and merchants.3 Key PointsUtrust gives online vendors more payment options to be more competitive.Collecting metrics from a deliberately crafted pool of users will enable you to develop and scale your business more quickly.The future of payments is a seamless digital experience. Tweetable Quotes:“We always want to protect the merchant, just to make sure that whatever the quoted price that they put in their system, they’re going to get that minus 1%, always.” –Filipe Castro“We’re trying to get metrics to perfect the system. The best way to get different metrics is to integrate with different types of businesses that have different users, have different patterns of usage, sell different types of goods, have different frequencies.” –Filipe Castro Resources Mentioned:Website – Jason Pereira’s WebsiteFacebook – Jason Pereira’s FacebookLinkedIn – Jason Pereira’s LinkedInFintechImpact.co – Website for Fintech ImpactUtrust websiteUtrust TwitterFilipe Castro TwitterFull Transcript Hosted on Acast. See acast.com/privacy for more information.

Summary:In this 105th episode of Fintech Impact, Jason Pereira, award-winning financial planner, university lecturer, writer, and host welcomes Doug Dahmer, CEO of Better Money Choices, to talk about democratizing financial planning, having a long-term view of planning, and more. Episode Highlights: ● 00:32: – Better Money Choices is a financial platform that puts the power in the consumer’s hands. ● 01:25: – Before Better Money Choices, Doug founded Retirement Navigator. ● 02:22: – Better Money Choices allows consumers to gamify their choices to explore what their financial options are. ● 04:50: – The biggest obstacle to financial planning is the initial data collection, so the Better Money Choices platform has a wizard that allows for that data collection in 7.5 minutes or less, and to identify the places that need further detail and clarity later. ● 08:59: – Financial planning is a verb, not a noun. ● 10:20: – Better Money Choices is owned by the client and can be shared with any other financial advisor if the client wants a second opinion. ● 13:12: – The platform is based on the idea of adult learning; it isn’t effective to tell an adult what to do, but if you give them the tools to learn, then they’ll come to you for help. ● 20:24: – Doug is able to duplicate a client’s plan to play around with it and explore options without touching their actual plan, but then can send that new version of the plan back to the client for review. ● 21:50: – It’s almost never as easy or simple as choosing one option or another. ● 24:06: – Financial advisor decisions are best guesses at the time of the decision based on the information they have and the factors at play. ● 26:17: – The majority of Doug’s time is spent reassuring high-income people that they can spend money and won’t run out of money, which sounds strange to the average person who typically overspends. ● 27:40: – Doug pushes clients to decide if their current life is the best life they can live, if this is their goal, or if they can reallocate their money to get closer to goals. ● 31:27: – If Doug could change one thing in the industry, it would be to democratize access to financial planning. ● 32:06: – Doug’s biggest challenge has been the current state of the financial services industry and the lack of new thinking. ● 35:06: – What excites Doug the most is that the need out there is so huge, and he wants to get out there as fast as he can. 3 Key Points 1. Financial planning isn’t a one-time action, but an ongoing process. 2. Better Money Choices empowers clients to learn the process and help them make decisions or propose changes to a financial advisor themselves instead of relying entirely on someone else to tell them what to do. 3. People should stop looking at financial choices as permanent or definitive when the best anyone can do is to make their best guess based on the information they have at the time. Tweetable Quotes: ● “Close to 30 years of financial planning has taught me that it’s not the latte’s that are killing financial plans. What’s killing financial plans is that people aren’t getting what they want because they don’t know what they want.” –Doug Dahmer ● “More of one thing usually means less of another. What choice do you want to make? Your life will be defined by those choices, but now for the first time in your life you have a tool that allows you to discover the outcome of those choices before you make them.” –Doug Dahmer Resources Mentioned: ● Facebook – Jason Pereira’s Facebook ● LinkedIn – Jason Pereira’s LinkedIn ● FintechImpact.co – Website for Fintech Impact ● Better Money Choices website – http://web.bettermoneychoices.com/index.html ● Doug Dahmer Twitter – https://twitter.com/dougdahmer2 Full Transcript Hosted on Acast. See acast.com/privacy for more information.

Summary:In this 104th episode of Fintech Impact, Jason Pereira, award-winning financial planner, university lecturer, writer, and host interviews Scott Hawksworth, Sales and Marketing Director at Soar Payments. Soar Payments is a company that focuses on providing payment solutions to higher risk businesses in the United States. Scott Hawksworth explains chargebacks, examples of high-risk businesses that banks tend to have trouble with, and the value that Soar Payments offers to its clients. Episode Highlights: ● 00:33: – Scott Hawksworth defines Soar Payments. ● 01:11: – Soar Pay was launched in 2015 in Houston, Texas. ● 03:10: – What are examples of higher-risk industries from the standpoint of payment processing companies and banks? ● 06:38: – Scott explains a chargeback and why the threshold is a small number. ● 10:51: – How is Soar Payments solving this problem? ● 12:11: – Soar Payments’ goal is to present merchants in places where they have the best chance of getting approved. ● 14:22: – How do they implement the tech solution into their business? ● 16:16: – How does their pricing to the end-user differ from other options? ● 20:45: – Soar Payment is not a technology company. They’re a company that provides tech to users to fill a gap in the market. ● 22:41: – What would Scott change in his business or his industry? ● 23:48: – What has been the biggest challenge in his business? ● 25:25: – Soar Payments has an underwriting process that every business goes through to get approved. ● 26:11: – What is the most exciting thing Jamie Hale is working on? 3 Key Points 1. Soar Payments focuses on business in the high-risk space that needs payment solutions. 2. High-risk companies from bank perspectives include: credit repair companies, document preparation, online marketing/SEO services, subscription services, the adult industry, E-Cig/vape/smoking accessories, nutraceuticals, moving companies, and transportation services. 3. The bank threshold percentage for low-risk businesses is 1% or less, calculated based on the dollar amount that you’re having charged back. Tweetable Quotes: ● “We offer merchant services to businesses of all kinds to help them get set up to accept payments, mostly for credit card processing. But we also offer ECheck and ACH options.” – Scott Hawksworth ● “If you have a business and you are having lots and lots of chargebacks, that is a problem for the bank because they are having to give that money back and that doesn’t reflect well on your business itself.” – Scott Hawksworth ● “The merchant comes to us and then we take a look at your business. We look at your documentation and all of that and we have these established relationships so we can pass you along to the best possible option.” – Scott Hawksworth Resources Mentioned: ● Facebook – Jason Pereira’s Facebook ● LinkedIn – Jason Pereira’s LinkedIn ● FintechImpact.co – Website for Fintech Impact ● Linkedin –Scott Hawksworth ● Soarpay.com – Website for Soar PaymentsFull Transcript Hosted on Acast. See acast.com/privacy for more information.