Tag: founders

The Fintech 5 with Raul Peralta — CEO of Kaleidoscope

Posted on by Jim Smith

In this ongoing series of blog posts, we are introducing you to some of the sponsors, partners, advocates, and entrepreneurs who make up the unique Fintech Sandbox community, and without whom our small team could not provide fintech startups with access to critical data and resources, entirely for free.

Raul Peralta is CEO of Kaleidoscope which offers a powerful securities research platform that automatically surfaces business intelligence from SEC and SEDAR filings. Kaleidoscope uses data visualization technology and AI to help corporate executives and professionals in many industries make better data-driven decisions.

And Kaleidoscope is now our newest data partner, providing API access to a wide range of pre-defined and searchable securities datasets that have been extracted and aggregated from registered US and Canadian filings, including public companies, investment companies, funds, investment advisors, and US insiders.

Question #1: Raul, as a startup, Kaleidoscope took part in the Fintech Sandbox Data Access Residency in 2018. What was that like for the company?

Fintech Sandbox and its initial acceptance was crucial for our success. We received connections and data that we wouldn’t have had access otherwise and that were vital to fast track our product. From day one we also received plenty of support and mentoring as we worked to grow our product.  The team has always been ready to help in any way they could and for an early startup that meant a lot for us.

#2: What made you want to become a data partner?

Early on because of the amount of support we received from Fintech Sandbox and its very nature, we knew that at some point we wanted to be able to give back to the community. We noticed there was a small gap on the data being provided to early startups and realized that this was the opportunity for us to jump in and help as much as we could.

#3: What fintech problem has your attention right now?

I know there is a lot of focus on Diversity and Inclusion within the industry. As it relates to me is all about Shared Collaboration. Fostering collaboration between fintech startups and traditional financial institutions is important. Collaboration can and will always lead to the creation of innovative solutions that combine the best of both, the agility of startups with the stability and resources of established institutions.

#4: How is Kaleidoscope using AI?

AI is very important on our industry and because of it we have and are investing heavily in it. In data extraction we use our in-house models to process and extract data from the vast amounts of text we have from filings, and we continue to refine them to get better metadata from the filings. We are also releasing soon our own chat-like agent using our data and models for clients to be able to use when looking for information from filings.

#5: If you could change one thing about the fintech ecosystem, what would it be and why?

If I could change one thing about the fintech ecosystem, I would focus on enhancing transparency through the use of AI. Transparency is essential for building trust and ensuring that users have a clear understanding of how their financial data is being used. By leveraging AI, fintech companies can provide users with more detailed insights into their financial activities, such as spending patterns, investment performance, and potential risks.

Bonus question! What’s the best career or life advice you’ve received?

Oh, the one advise I always keep thinking of and it helps in life and my career is from my father. “ …. There is ALWAYS room for improvement.” It’s funny because as we accomplish goals here at Kaleidoscope or just anything in life really, I just keep thinking well that’s great BUT … and it just motivates me to do more.

Another bonus question! What is the most interesting thing you’ve read recently? 

I read all sorts of books, articles, etc., plus I enjoy listening to quite a few podcasts as well. But one that I just read recently and really enjoyed was “The Mysterious Case of Rudolph Diesel”. I knew about Diesel briefly, but the way this book was written it kept me engaged from the beginning to the end, maybe it’s the combination of the historical information but combined with a murder mystery that just kept me reading it to get to the ending fast.

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Meet Moffin — A Demo Day[s] 10 Presenting Startup

Posted on by Jim Smith

This year, FinTech Sandbox Demo Day[s] will take place across two days, April 9 & April 11. The presentations will be virtual and the event, as always, is free. Demo Days are exciting because we get to showcase startups that are on the very cutting edge of innovation and you get to see what they’re up to before they’re discovered.

This week and next we’ll continue highlighting this year’s presenting entrepreneurs. Today, we’re talking to Nicholas Yepes, Co-Founder & COO of Moffin, which is based in the city of Guadalajara, in the state of Jalisco in Mexico. Moffin is a data integration platform-as-a-service that helps companies digitize client screening in LatAm. Moffin is presenting on Tuesday, April 9.

Nicholas Yepes, Co-Founder & COO of Moffin, which is based in the city of Guadalajara, in the state of Jalisco in Mexico. Moffin is a data integration platform-as-a-service that helps companies digitize client screening in LatAm.

Q. Nico, tell us a bit about Moffin. What problems are you solving?

A. We provide companies with access to data, technological infrastructure, and software tools to screen clients.

Q. What is your company’s origin story?

A. Moffin’s story begins when my two co-founders, Santiago and Victor, were working at a Mexican fintech that provided loans to refinance credit card debt. They spent most of their time developing from scratch the fintech’s core banking system, connections with data providers, client screening tools, and other pieces of technological infrastructure necessary prior to being able to provide digital credit products. They had a stronger interest in developing software and financial infrastructure than in operating a lending business.

They were offered a sponsorship to start Moffin by a Mexican non-bank financial institution (NBFI) to resolve similar data integration issues. That financial institution then entered into a sale process with the private equity firm I used to work for. I interviewed my co-founder, who was then the head of technology. Following the sale process, my co-founders lost their sponsorship at the NBFI, but they fortunately found their first angel investor that helped them get Moffin off the ground.

After working as an investor in financial institutions in LatAm for more than three years, I understood very well the need for what Santiago and Victor were building. I became an advisor to Moffin shortly afterwards and joined as their third co-founder in April 2023.

Q. Can you describe what it’s been like to be part of the Fintech Sandbox community?

A. I am relatively new to the Fintech Sandbox community, but I love its mission to aggregate financial data and make it available to fintech entrepreneurs to build applications and services. I am also excited for the opportunity to partake in Empire Startups’ New York Fintech Week this year with Fintech Sandbox.

Q. Why is data access important to your startup?

A. Data access is central to our product as we are a data integration platform as a service. We take care of the engineering work to connect with data providers, standardize the information, and create tooling to work with and analyze the data.

Q. What milestones has Moffin achieved so far?

A. Our first product was an API to access Mexico’s credit bureau data. Now we have 10 different data sources integrated via both API and our no-code platform and a suite of software tools to help work with and analyze the data. We’ve reached 73 active monthly corporate clients and sold more than 500,000 data reports in 2023.

Q. What trends in fintech are you most excited about?

A. We are excited about digital lending, buy-now-pay-later, embedded finance, biometrics, neobanking, and AI-based solutions. Moffin helps about 70 companies today access and power these types of solutions through its platform.

Q. How does Moffin think about leveraging AI in a differentiated way?

A. AI applications tend to require a lot of data and that data must be clean and easy to use. When our clients use Moffin, the data is available for consumption in multiple ways and is easy to integrate with AI applications.

Q. What’s next for Moffin?

A. We are consistently broadening our data offering and improving software tools to help our clients increase productivity. This year we are releasing tools for monitoring and fraud prevention.

To hear more about Moffin and 11 other exciting fintech startups, be sure to register for FinTech Sandbox Demo Day[s] 10!

Meet Hansa — A Demo Day[s] 10 Presenting Startup

Posted on by Jim Smith

This year, FinTech Sandbox Demo Day[s] will take place across two days, April 9 and April 11. The presentations will be virtual and the event, as always, is free. Demo Days are exciting because we get to showcase startups that are on the very cutting edge of innovation and you get to see what they’re up to before they’re discovered.

This week and next we’ll continue highlighting this year’s presenting entrepreneurs. Today, we’re talking to Henry Magun, CEO of Hansa, which is based in New York. Hansa is helping small business owners ensure the data that financial service providers use to find, qualify, and underwrite their businesses is up-to-date, accurate, and consistent. Hansa is presenting on Tuesday, April 9.

Today, we’re talking to Henry Magun, CEO of Hansa, which is based in New York. Hansa is helping small business owners ensure the data that financial service providers use to find, qualify, and underwrite their businesses is up-to-date, accurate, and consistent.

Q. Henry, tell us a bit about Hansa. What problems are you solving?

A. Hansa facilitates efficient information exchange between SMBs and the financial service providers that want to serve them, before an SMB even submits an application for funding. Despite the fact that there are 30 million SMBs in the US and that the SMB financing market tops $1.4T, small business owners still struggle to get access to the financial products and services they need to thrive.

A leading cause of this is that financial institutions don’t have access to 1st-party, verified data about SMBs. Without it, they are forced to use out-of-date and frequently incorrect data to inefficiently market their products to wide bands of SMBs, and SMB owners are inundated with offers for products they don’t qualify for. Hansa is closing this data gap. We empower small business owners to participate in creating the data that is used to find them, helping them feel confident that they’ll be considered for services they qualify for, and won’t be bothered with those they aren’t.

Q. What is your company’s origin story?

A. My mother is a small business owner, and through her, I saw how much inefficiency exists in the way that financial products are marketed and sold to SMBs today. This hurts the SMBs the most, as the onus ultimately falls on them to do the work to determine what products they might qualify for. I saw how much time and effort it took for my mother to find the right products that fit her business, and knew that there could be a better way.

Q. Can you describe what it’s been like to be part of the Fintech Sandbox community?

A. The Fintech Sandbox community has been incredibly impactful for Hansa. We’ve had opportunities to meet other amazing startups in our space, as well as build deep relationships with the program’s partners. The members of the Fintech Sandbox management team have all been huge advocates for us, and have gone out of their way to give us as many opportunities as possible to spread the word about Hansa.

Q. Why is data access important to your startup?

A. Hansa’s mission is to empower SMBs to use their data to their advantage, by helping them leverage it to get access to the financial projects they need. A necessary component of this is helping them access the data that already exists about their businesses. That’s where Hansa’s partnerships with data providers come in. We work with companies like Equifax (a Fintech Sandbox partner), to enable small business owners to access, understand, and monitor the data that financial services providers are using to make decisions about them every day.

Q. What milestones has Hansa achieved so far?

A. We have signed up hundreds of SMBs that proactively share information about their businesses with Hansa and have direct access to dozens of loan products from our partner lenders. We’ve built early partnerships with other SMB data companies to help our members understand their existing data presence. We’ve developed a data furnishment product to help SMBs build business credit history by paying off their existing loans.

Q. What trends in fintech are you most excited about?

A. Rapid growth of embedded lending. Use of AI to custom-tailor financial product experiences and content to match the needs of individual customers. Digitization of SMB finance and data management.

Q. How does Hansa think about leveraging AI in a differentiated way?

A. The capital needs and financial profiles of small businesses vary immensely, and AI enables Hansa to offer customized and hyper-specific funding and credit building experiences for business owners.

Q. What’s next for Hansa?

A. Expanding our partnerships with lenders, SMB data companies, and financial services providers to help SMBs get the products they need, when they need them. Launching our full SMB-facing application covering access to capital, credit building, cost saving and more.

To hear more about Hansa and 11 other exciting fintech startups, be sure to register for FinTech Sandbox Demo Day[s] 10!

Meet Boston Quantum — A Demo Day[s] 10 Presenting Startup

Posted on by Jim Smith

This year, FinTech Sandbox Demo Day[s] will take place across two days, April 9 & April 11. The presentations will be virtual and the event, as always, is free. Demo Days are exciting because we get to showcase startups that are on the very cutting edge of innovation and you get to see what they’re up to before they’re discovered.

Over the next few weeks, we’ll highlight a few of this year’s presenting entrepreneurs. Today, we’re talking to Shantanu Jha, CEO and co-founder of Cambridge-based Boston Quantum, which is building enterprise solutions leveraging the speed and scalability of quantum and quantum-inspired algorithms. Boston Quantum is presenting on Thursday, April 11.

we’re talking to Shantanu Jha, CEO and co-founder of Cambridge-based Boston Quantum, which is building enterprise solutions leveraging the speed and scalability of quantum and quantum-inspired algorithms

Q. Shantanu, tell us a bit about Boston Quantum. What problems are you solving?

A. At Boston Quantum, we reimagine what computing can do. We build end-to-end enterprise solutions leveraging the speed and scalability of quantum and quantum-inspired algorithms for the financial industry, with an initial focus in reserve management including multi-currency arbitrage growth and currency exchange. Book a meeting with us at bostonquantum.io/workwithus to learn more.

Q. What is your company’s origin story?

A. BQ was founded by a group of 3 MIT PhD and 2 MIT MBA students who met in the StartMIT class in January of 2022. The team we have today is the team we had from day 1. Moreover, finding synergies across our diverse backgrounds in software engineering, quantum computing, finance, chemistry, entrepreneurship and more is our key strength.

Q. Can you describe what it’s been like to be part of the Fintech Sandbox community?

A. The Fintech Sandbox community bridges the gap between leading data providers and fintech startups, lowering an essential barrier to entry for novel ventures like ours. We’ve just joined this community and look forward to learning from, growing alongside and contributing to an ecosystem of disruptive innovation.

Q. Why is data access important to your startup?

A. Data access gives us a telescope to chart out new terrains before heavily investing in infrastructure to capture these opportunities. For a fast moving and early stage startup, this signal on what to prioritize is essential.

Q. What milestones has Boston Quantum achieved so far?

A. Six institutional clients. $500K+ deployed on our platform and growing rapidly. 24/7 production capabilities. Products for reserve growth and currency exchange. Participation in MIT delta v, Creative Destruction Lab Quantum Stream, RBPC, Nvidia Inception, and more.

Q. What trends in fintech are you most excited about?

A. Complex market inefficiencies. Increasing availability of data-driven market insights. Opportunities for massive computational power to create value from that data.

Q. How does Boston Quantum think about leveraging AI in a differentiated way?

A. We don’t leverage AI in our current solutions. We do, however, have experience in quantum machine learning and have researched various applications of this technology in the financial industry.

Q. What’s next for Boston Quantum?

A. Ramping up with the clients we have today. Onboarding more clients with liquidity across many currencies (hedge funds, banks, payment companies, multi-national corporations). Raising our first round. Leveraging the underlying physics of our universe to solve highly complex and meaningful problems.

To hear more about Boston Quantum and 11 other exciting fintech startups, be sure to register for FinTech Sandbox Demo Day[s] 10!

Meet Manifest — A Demo Day[s] 10 Presenting Startup

Posted on by Jim Smith

This year, FinTech Sandbox Demo Day[s] will take place across two days, April 9 & April 11. The presentations will be virtual and the event, as always, is free. Demo Days are exciting because we get to showcase startups that are on the very cutting edge of innovation and you get to see what they’re up to before they’re discovered.

Over the next few weeks, we’ll highlight a few of this year’s presenting entrepreneurs. Today, we’re talking to Meenakshi Lakshmanan, Co-Founder and CTO of Chicago-based Manifest, which is building the first-ever digital transfer solution for retirement accounts. Manifest is presenting on April 11.

Meenakshi Lakshmanan is Co-Founder and CTO of Chicago-based Manifest, which is building the first-ever digital transfer solution for retirement accounts.

Q.   Meenakshi, tell us a bit about Manifest. What problems are you solving?

A.   Manifest is building the first-ever digital transfer solution for retirement accounts. We are working to make safe, easy, and quick 401k transfers possible for everyone.

Q.   What is your company’s origin story?

 A.   In 2017, while pursuing my MBA at The University of Chicago Booth School of Business, I had the opportunity to meet Anuraag Tripathi, who was working on a 401(k) provider for small businesses. Recognizing the potential in his startup, we decided to join forces and collaborate on his venture.

During our journey of serving 300,000 Americans, we encountered a significant challenge in the retirement savings landscape. It took up to 60 days to consolidate 401(k) accounts, which posed a real obstacle for individuals. To understand the extent of this issue, we conducted a survey of 2,500 employees as they left their jobs. The results were eye-opening: on average, most individuals had three old retirement accounts, and balances under $15,000 were frequently cashed out for non-emergency reasons.

Motivated by these findings and the desire to make a positive impact, we founded Manifest. In 2018, Manifest was selected as one of the 11 start-up finalists to present at the prestigious New Venture Challenge at Booth’s Polsky Center for Entrepreneurship. The company’s concept resonated with the judges, leading to Manifest securing the grand prize, which amounted to over $315,000 in seed funding.

Q.   Can you describe what it’s been like to be part of the FinTech Sandbox community?

A.   Being part of the Fintech Sandbox community has provided an incredibly supportive ecosystem tailored to the unique circumstances and developmental stages of a young startup, ensuring we never feel alone in our journey. The access to exceptional data partners, who are not only willing but also responsive to our requests, has been instrumental in accelerating our product development and market readiness. Moreover, the community has opened doors to a high-quality network of friendly and helpful individuals.

Q.   Why is data access important to your startup?

A.   Data access is crucial to our startup because the process of retirement account transfers is fundamentally a data-intensive operation. Having access to timely and accurate data is essential because it enables us to streamline the transfer process, making it seamless for our customers. This accuracy and timeliness in data access not only improve the efficiency of transfers but also enhance the overall customer experience by minimizing errors and delays, ultimately fostering trust and satisfaction with our service.

Q.   What milestones has Manifest achieved so far?

A.   Over the past two years, we’ve made significant progress in streamlining the transfer process and maximizing retirement outcomes, achieving a 70% automation rate. This efficiency is reflected in our NPS score of 94, showcasing user satisfaction. We have access to over 250,000 participants through various employers, we are committed to helping them achieve their retirement goals. Additionally, we have engaged with four out of the top 15 retirement providers, paving the way for extensive market reach.

Q.   What trends in fintech are you most excited about?

A.   Fintech companies are leading the financial industry towards customer-centricity, leveraging technology for more than just cost reduction. Startups are prioritizing user needs and developing products that offer financial ease, automation, and transparency. As a result, these innovative approaches are gaining traction in traditionally overlooked or unprofitable areas, presenting opportunities for startups like Manifest to address challenges like retirement transfers with efficient technology, replacing manual and inefficient solutions.

Q.   How does Manifest think about leveraging AI in a differentiated way?

A.   Our company leverages AI in a differentiated way by focusing on the creation of a retirement concierge service that goes beyond mere transactional support. By incorporating AI, we aim to demystify the complex world of retirement benefits and navigate through the dense jargon that often overwhelms individuals. Our AI-driven approach is designed to provide personalized, easy-to-understand answers to questions about retirement benefits, making the process of planning for retirement more accessible and less intimidating.

Q.   What’s next for Manifest?

A.   From a product perspective, our company is dedicated to continuous innovation, introducing new features to enhance the ways we assist users in maximizing their retirement outcomes. We are also prioritizing the development of high-quality, reliable data pipelines between providers to further streamline the transfer process, ensuring a seamless experience for our customers. On the business front, we are rapidly expanding our reach by forging partnerships with employers and retirement providers to distribute our product effectively.

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To hear more about Manifest and 11 other exciting fintech startups, be sure to register for FinTech Sandbox Demo Day[s] 10!

The New Faces of Fintech — Featuring Tamsey

Posted on by Jim Smith

While we may not know exactly how fintech will impact our future, we have an idea as to who will be leading the charge. In the next installments of our ongoing blog series, “The New Faces of FinTech”, we will spotlight some of the emerging leaders in the fintech world to get their thoughts on what the future of the industry will look like.

Their origin stories are different, their paths to entrepreneurship are unique, but their impacts on their respective industries are significant. No one truly knows what the future of fintech holds, but these industry leaders may have an inkling as to what we can expect.

Our next guest is Grishka Bonlong, Founder and CEO of London-based Tamsey. Tamsey is creating innovative solutions that will transform how payments are made globally. The Tamsey team is enabling low-cost international money transfers and payments that are also fast, safe, and secure for both individuals and businesses.

Grishka Bonlong is Founder and CEO of London-based Tamsey. Tamsey is creating innovative solutions that will transform how payments are made globally.

Grishka, tell us a little bit about your background. What were you working on before founding this company?

After obtaining my Engineering degree, I spent the next decade in banking during which I qualified as an accountant. I started my career in systems management and reporting, but then evolved into finance, risk management, and later treasury management.

Tell us a bit about your company? What’s the problem you’re solving?

Tamsey is a cross-border payment solution that specialises in solving two problems: (1) simplifying the process for individuals to send money home to their loved ones; and (2) reducing bottlenecks for businesses who pay salaries and suppliers abroad. The undergoing next phase of our evolution is focused on the African market, where our solution will significantly reduce the number of adults without access to formal banking services.

We are reducing the cost of doing business internationally while increasing the percentage of adults with access to digital financial services in Africa. According to the World Bank’s Global Findex Database, only 55% of adults in Sub Saharan African have access to digital financial services, which is substantially lower than the global average of 76%.”

What’s the origin story behind your company? How and why did you come up with the idea? 

Being born and having lived in Africa has enabled me to experience how lack of access to reliable and convenient financial services can hinder economic prosperity. Tamsey was born out of the deep desire to contribute to the global democratisation of finance that has been enabled by technology.

Tamsey means “Together”, because we want to enable people to remain connected to what’s important to them, no matter where they are in the world. More importantly, we were motivated by contributing our efforts to the huge challenge of increasing financial inclusion in Africa. That is the reason why we started in remittance to get a detailed understanding of the global payment landscape, learning from what has worked and failed in other continents, to design practical solutions that sustainably democratise access to financial services in Africa.

What milestones has your company achieved so far?

We have registered more than five thousand users on our platform after having obtained licenses in the UK and Canada from the FCA and FINTRAC respectively. We have built a payment network that spans four continents. Our Tamsey For Business solution facilitates bulk payments to hundreds of recipients in just a few clicks. We are present in more than fifty countries in Africa, four countries in Asia. We have begun the pilot phase of our neobanking solution aimed at the African market.

Can you describe what it’s been like to be part of the Fintech Sandbox community?

Being part of the Fintech Sandbox community has been extremely rewarding first from a personal point of view because participating at events has enabled me to meet extremely talented and resourceful people that I continue to learn from. Access to timely and quality data is extremely important, especially due to the volatile nature of some fintech markets. I was able to connect with a Data Partner to discuss a potential partnership to access more accurate currency exchange rate data.

What’s next for your company?

In June 2023, McKinsey & Company published an economic research paper predicting that by 2050 Africa would add 796 million people to the global workforce and be home to the world’s largest and youngest population. Our existing payment network will help these workers receive their salaries on time regardless of where the employer is in the world. We are building a merchant payment solution that will make it easier for the rising African middle class to transact, consume, and travel.

What is some of the best advice you’ve received as a startup founder?

It doesn’t matter how many times you fall. The point is to get back up and keep going.

What fintech trends are you most excited about right now?

I’m very excited about the AI enabled liveness detection solution. They help reduce the cost of keeping the financial system safe, which is very positive.

What’s the most interesting thing you’ve read recently?

“Le Meilleur Médicamment, C’est Vous!” by Dr Frédéric Saldmann.

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We’re thrilled to feature some of the incredible entrepreneurs who are participating in our Data Access Residency. If you are aware of any fintech entrepreneurs with an early stage company who could benefit from free access to data, cloud hosting, and a supportive community, please have them visit our website to learn more.

The New Faces of Fintech — Featuring DAIZY

Posted on by Jim Smith

While we may not know exactly how fintech will impact our future, we have an idea as to who will be leading the charge. In the next installments of our ongoing blog series, “The New Faces of Fintech”, we will spotlight some of the emerging leaders in the fintech world to get their thoughts on what the future of the industry will look like.

Their origin stories are different, their paths to entrepreneurship are unique, but their impacts on their respective industries are significant. No one truly knows what the future of fintech holds, but these industry leaders may have an inkling as to what we can expect.

Our next guest is Deborah Yang, CEO & Co-Founder of DAIZY. DAIZY Scribe (currently in private beta) allows you to generate personalized financial content in seconds with compliant data, real-time calculations, and dynamic infographics and do so at scale. Deborah is based in Paris.

Deborah Yang, CEO of DAIZY, is featured in New Faces of Fintech

Deborah, tell us a little bit about your background. What were you working on before founding this company?

Before DAIZY, I was Global Head of Sustainable Indexes at MSCI, leading high-growth franchises including factor indexes, EMEA index, and Asia regions across 18 years. I am also the Co-President of Women in ETFs EMEA.

Tell us a bit about your company? What’s the problem you’re solving?

DAIZY combines compliant financial data, real-time calculation engines, and large language models (LLMs) to bring generative AI solutions to the financial services industry. We enable financial insights and communications production with unprecedented scale, authority, efficiency, and customization.

What’s the origin story behind your company? How and why did you come up with the idea?

We fundamentally believe that the wealth management and broader financial services industry is suffering the consequences of legacy technology and disparate data. The time for firms to make a technological leap is now, and with the adoption of AI there will be massive change and disruption in the industry.

Start-ups are all about the team. Working with Jonty Hurwitz, a veteran tech-founder with a track record including the unicorn FinTech company, Wonga, has been amazing because he is always 10 steps ahead of everyone else in dreaming up “the art of the possible”. We also brought on Jim Wiandt, the visionary behind ETF.com and InsideETFs, because of his deep ties in the wealth and financial services industry. We have the best of the best from seasoned leaders, and we will need to continue to attract the next generation of builders. Together, we have a lot of ideas and potential, but right now we’re laser focused on scalable product-market fit for DAIZY Scribe — our first B2B platform for asset and wealth management firms.

What milestones has your company achieved so far?

We launched our B2B platform beta, DAIZY Scribe, in December 2023.

Immediately after launch, we started running implementations with leading asset management firms and platforms.

We were one of the first investment providers with a plug-in live in the OpenAI plug-in store, seeing huge numbers of queries coming from users.

We have built a team of genuine industry leaders in our business to oversee client implementations and will continue to build to remain agile in this evolving industry.

Can you describe what it’s been like to be part of the Fintech Sandbox community?

As a recent addition to Fintech Sandbox, we’ve already found the experience beneficial. We’ve been impressed with the speed of being able to arrange meetings with partners and the quality of people.

Access to reliable, high-quality data is crucial for the industry. Especially with the widespread concern of ‘hallucinations’ by large language models, we are committed to only using best-in-class data. For financial services firms, trust and accuracy are paramount.

What’s next for your company?

We are highly focused on deepening our scalable product-market fit by adding more Skills for DAIZY Scribe. Our implementations enable us to stay closely aligned with clients’ usage and make direct ties to the amplification of their human capital and revenue growth.

What is some of the best advice you’ve received as a startup founder?

Marc Andreesen famously believes that “only” product-market-fit matters. Though it’s a great point, the question is, how do you get there?

For us, we’re focused on three key areas: 1) building a world-class team by hiring the best talent and ensuring they are agile, 2) listening proactively to clients’ needs and pain points and constantly asking questions, and 3) combining 1 + 2 into a product that adds undeniable value to our clients’ businesses.

We believe we have those pieces at DAIZY, and we know we need to continually prove that. To solve the investing industry’s most daunting problems, first we must earn and maintain our clients’ trust. It’s the only way to bring AI solutions to our industry and generate the ROI we know we can for our clients.

What fintech trends are you most excited about right now?

AI in fintech has captured the industry’s imagination. The adoption of AI in wealth and financial services industry will revolutionize the industry in a way that I have not witnessed in my 25 years in financial services. It will be a step function transformation that will quickly separate the winners and the losers in the space because of the opportunity for massive productivity gains.

Are you hiring?

We anticipate the need for product builders, developers, and client-facing teams as we manage increasing customer demand for our AI solutions.

We’re thrilled to feature some of the incredible entrepreneurs who are participating in our Data Access Residency. If you are aware of any fintech entrepreneurs with an early stage company who could benefit from free access to data, cloud hosting, and a supportive community, please have them visit our website to learn more.