Fintech Impact

In this episode of FinTech Impact, host Jason Pereira interviews John Wise, CEO and Chair of Communify Fincentric. John discusses the history and merger of Communify and Fincentric, highlighting their journey from data aggregation and visualization in the early 90s to becoming a significant platform that handles billions of data requests daily. They also delve into the challenges and strategies for managing vast amounts of data, the importance of trusted data sources, and the innovative use of deterministic AI in data storytelling and visualization.

In this episode of FinTech Impact, host Jason Pereira interviews Richard Walker, CEO of Quik! Forms. The discussion covers the origins of Quik!, the challenges of automating form processes, and how the company has evolved over the past 23 years. Richard explains how Quik! simplifies data entry for financial advisors, significantly reducing manual work and improving efficiency. The episode dives into the complexities of developing a form automation system that can support a vast number of fields and forms, and highlights the technological advancements, particularly in AI, that Quik! is leveraging to further enhance their product. Richard also shares insights on the future of form automation and the challenges and rewards of operating in the space.

In this episode of FinTech Impact, host Jason Prera interviews Adam Scully-Power, Product Solutions Director at Nebo Wealth. Nebo Wealth is a platform focused on goals-based investing, empowering financial advisors to deliver personalized asset and portfolio allocations tailored to clients' unique goals and circumstances. Adam discusses the origins of Nebo Wealth, the limitations of traditional investment methods like target date funds and risk tolerance questionnaires, and how Nebo utilizes a more dynamic, forward-looking approach for portfolio optimization. He explains the importance of understanding client goals, incorporating a wide spectrum of inputs, and providing visual tools that clearly communicate financial progress. The conversation also highlights the platform's flexibility and superior performance in maximizing clients' financial success. Adam concludes by expressing his excitement about Nebo Wealth's innovative impact on the financial advising industry.

In this episode of FinTech Impact, host Jason Pereira interviews Mark Netjes, EVP of Enterprise Sales and Solutions at Advyzon. Advyzon offers an all-in-one technology platform designed to help financial advisors manage their practices efficiently. Mark discusses the origins of Advyzon, founded by Hailin Li in 2012 after his tenure at Morningstar, and the evolution of the platform from performance reporting and billing to a comprehensive suite including CRM, trading, rebalancing, client portals, document management, and outsourced investment solutions. The discussion highlights Advyzon's focus on integration, efficiency, and scalability, making it suitable for both small firms and large enterprises. They also touch on Advyzon's approach to modularity, integration with third-party software, and future developments in AI and other advanced features.

In this episode of FinTech Impact, host Jason Pereira interviews Matt Cerminaro, Chief Product Officer, and Michael Batnick, CEO of Exhibit A. Exhibit A is a charting and visualization tool for financial advisors that originated from the Riol Wealth Management team. This custom-branded platform simplifies complex data into clean, daily-updated visuals, making it easier for advisors to communicate with clients. Matt and Michael discuss the platform's origin, its development challenges, the importance of simplicity in financial charts, and their plans for ongoing innovation. The duo shares their commitment to improving client communications and their proactive approach in updating and improving their tool based on user feedback. Early feedback has been positive, highlighting the tool’s value in replacing or complementing the need for an in-house analyst.

This week’s podcast features an insightful discussion between host Jason Pereira and Jason Wenk, CEO of Altruist, a fintech company that is streamlining the custodian experience. They explore the origin of Altruist, how it came to fruition due to the inefficiencies faced in the financial advisory and custody space, and their journey in making the platform user-friendly and technologically advanced. Wenk details the importance of design thinking and maintaining operational efficiency while revolutionizing the existing financial systems. The conversation ends with Jason Wenk's enthusiasm about the potential of AI and other innovations in improving client outcomes.

In this episode of FinTech Impact, host Jason Pereira interviews Rodney Williams, co-founder and president of Solo Funds. The platform offers an innovative approach to peer-to-peer lending, targeting issues with payday loans and credit cards by creating a mutually beneficial system for those in need of capital. They discuss the origin of Solo Funds, the transparent and borrower-driven structure, and the community-centered approach that sets Solo apart. Rodney also shares success stories and highlights the challenges and advantages of building an impactful financial service. Don't miss this insightful conversation on reshaping the lending landscape.

In this episode of Fintech Impact, Jason Pereira interviews Jimmy Gill from Versoft Consulting about the intricacies of investment technology and data migrations. The conversation explores the challenges of integrating various investment technologies, outlining how Versoft Consulting assists in streamlining technology stacks for financial advisors. They delve into the complexities of data migration between portfolio management systems, highlighting the diverse issues encountered during such transitions and offering insights into best practices for successful conversions. The episode wraps up with discussions on how comprehensive solutions and problem-solving approaches can significantly alleviate operational inefficiencies within the finance industry.Episode Highlights:00:33: Jason thanks Jimmy Gill of Versoft Consulting for joining the podcast.00:35: Jimmy introduces Versoft Consulting, its mission, and services in the finance sector.01:20: Explanation of Versoft’s services, including portfolio management, data conversions, and consulting.01:29: Discussion on the origin and history of Versoft Consulting.03:34: The complexities involved in data migrations from one platform to another.04:26: Real-life story of migrating 30 years of transaction history.05:33: Issues firms encounter with portfolio management and accounting platforms.07:08: Best practices for conversion and timelines for migrating systems.12:08: Common pitfalls and considerations during platform migrations.14:12: Importance of data quality and the role of Versoft Consulting in migrations.16:49: Navigating trust issues with new technology platforms.19:20: Volume of data and time estimation challenges in migrations.21:51: Weird data anomalies and how Versoft confronts them during migrations.32:09: Jimmy’s passion for solving complex data problems in fintech.34:18: Conclusion and wrap-up of the episode, encouraging listeners to seek migration help from Versoft.Key Takeaways:Data migrations in the financial sector are fraught with challenges, requiring expert handling to ensure accuracy and efficiency.The industry suffers from a lack of standardized data formats, complicating technology integrations significantly.Having dedicated personnel or consultants focused entirely on technology transitions can prevent bottlenecks and delays.Effective communication and planning are crucial for maintaining timelines and minimizing disruptions during platform migrations.Firms often benefit significantly from adopting streamlined, automated processes for operational efficiencies.Tweetable Quotes:"Data migrations: not just shifting data, but overcoming challenges to ensure efficient financial operations.""In financial tech, the quirks and complexities are the puzzle pieces we love to solve.""Adopting new tech isn't just about the systems; it's about finding the right solutions for your firm."Resources Mentioned:Facebook – Jason Pereira's FacebookLinkedIn – Jason Pereira's LinkedInWoodgate.com – SponsorPodcast Editinghttps://versoftconsulting.com/team/jimmy-gill/https://www.linkedin.com/in/jameswgill/