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Responsive AI with Davyd Wachell (CEO) | EP27

Ep. 27

In this 27th episode of the Fintech Impact podcast, Jason Pereira interviews Davyde Wachell, a Stanford graduate in artificial intelligence and the CEO of Responsive AI. 


●   01:26 – The integral trust of clients comes from: service excellence and actionable insights. 

●   02:30 – Davyde studied AI before it became overwhelmingly popular. 

●   03:20 – Responsive AI identifies through aspects of who the client is or where they are in their life, that could be acted on to help both the client themselves and the enterprise serving the client.

●   08:50 – Davyde believes that Canadian institutions and culture have a specific way of looking at innovation, which Is very consensus-driven 

●   11:16 – 2017 and 2018 were the years of “fake news.”

●   17:25 – How do you make sure people live up to the policy?

●   18:41 – The future for the company is to see how wealth management can add value for clients and financial advisors. 

●   20:14 – Process automation and AI create the chance to create better outcomes and push away tasks that slow down the workflow. 

●   21:25 – Human beings using AI tools will outperform raw AI and raw human beings. 

●   26:17 – Davyde foresees that the AI hype will calm down in the next three years and people will realize transfer learning and complex heterogeneous problems aren’t easily solved with AI.


3 Key Points:

1. The integral trust of clients comes from: service excellence and actionable insights. 

2. Responsive AI technology is only for wealth management serving mass affluent and high net worth clients. 

3. Humans that use AI tools will outperform raw AI and raw humans. 


Tweetable Quotes:

-   “Those of us tracking wealth tech know that digital is a big story, and it’s expected to reach $4.6 trillion by 2022.” – Davyde Wachell. 

-   “Wealth is built on trust. And our clients will trust us when we serve them well and they feel taken care of, and when they trust our judgement.” – Davyde Wachell.

-   “What our AI looks at is identifying through aspects of who the client is or where they are in their life, that could be acted on to help both the client themselves and the enterprise serving the client.” – Davyde Wachell. 


 

Resources Mentioned:

LinkedIn – Jason Pereira’s LinkedIn

Facebook – Jason Pereira’s Facebook

Woodgate Financial – Website for Woodgate Financial

Davyde Wachell – LinkedIn for Davyde Wachell

Responsive AI – Website for Responsive AI

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9/8/2020

Cosmos with Ethan Buchman | E138

Ep. 138
In this 138th episode of Fintech Impact, Jason Pereira, award-winning financial planner, university lecturer, writer, and host interviews Ethan Buchman, Co-Founder of Cosmos and CEO of Informal Systems. Cosmos is one of the largest blockchains and one of the most valuable cryptocurrencies in the world, of which Ethan Buchman was an integral part of creating.Episode Highlights:● 00:32 – Ethan Buchman explains Cosmos.● 02:53 – What is Ethan Buchman’s history?● 09:20 – What is the differences between and proof of work and proof of stake?● 10:10 – Which countries consumed less power than bitcoin?● 11:09 – Where else can you go besides bitcoin to maximize options?● 12:00 – They discuss public and private blockchains.● 16:06 – Where are the limitations with authurium?● 25:24 – What does Informal Systems do?● 35:01 – What would Ethan Buchman change in his business or industry?● 35:49 – What have been the biggest challenges Ethan has faced?● 36:50 – What keeps Ethan Buchman excited each day about his work?3 Key Points1. Blockchain is the evolution of automating human processes, moving from personal computers, to the cloud, and now to the multi-stakeholder operation.2. In 2019, bitcoin consumed more power than Switzerland.3. Reducing compliance is an important use case in the blockchain world.Tweetable Quotes:● “We want to make it as easy as possible for people to build their own blockchains, launch their own blockchains, structure them in the ways that they need to that fit their needs and fit their values, and the values of their community.” – Ethan Buchman● “In 2013 I programmed my first bitcoin transaction from scratch, which is almost like a religious experience to be able to do that.” – Ethan Buchman● “The public blockchain becomes this source of truth that you can audit against without necessarily revealing all the information to the whole world. The boutry between public and private becomes significantly blurred .” – Ethan BuchmanResources Mentioned:● Facebook – Jason Pereira’s Facebook● LinkedIn – Jason Pereira’s LinkedIn● FintechImpact.co – Website for Fintech Impact● JasonPereira.ca – Sign up for Jason Pereira’s newsletter● Linkedin – Ethan Buchman● cosmos.network – Website for Cosmos● informal.systems – Website for Informal Systems
9/1/2020

Charitable Impact with John Bromley & Michael Todd | E137

Ep. 137
In this 137th episode of Fintech Impact, Jason Pereira, award-winning financial planner, university lecturer, writer, and host interviews John Bromley, Founder and CEO of Charitable Impact and Mike Todd, Director of Charitable Investment Programs at Charitable Impact. Charitable Impact is a fintech online platform that enables charitable donations through donor-advised funds. John Bromley and Mike Todd talk about how they are able to get this done and what a donor-advised fund is.Episode Highlights:● 00:38 – What is Charitable Impact?● 01:30 – What was the impetus for Charitable Impact getting started?● 03:44 – What is a donor-advised fund and why do they get used?● 13:26 – How many people come directly and how many people come from other sources?● 14:44 – Charitable Impact works with close to 100 investment managers across various firms.● 16:58 – How does the technology work?● 23:48 – What would John Bromley and Michael Todd change in their business or industry?● 32:21 – What have been the biggest challenges John Bromley and Michael Todd has faced?● 36:52 – What keeps John Bromley and Michael Todd excited each day about their work?3 Key Points1. The questions that pushed John Brimley to start Charitable Impact are: Where do you go to get advice in the charitable giving world? How can charitable giving be made possible and fluidly during any translation on a cost-effective basis?2. There are over 85,000 charities in Canada.3. Donor-advised funds are like having a bank account for charitable giving.Tweetable Quotes:● “Charitable Impact asks the questions, who is really there to support the donor who is looking to participate, or who is participating in charitable giving? .” – John Bromley● “We give people their own individual giving account, it is what is referred to as a donor-advised fund and they take on that account, they can put their charitable donations into it.” – John Bromley● “We have higher net worth donor, and generally the majority of those people we meet through financial advisors. The majority of our donors, however, are everyday Canadians, I would refer to as grassroots donors.” – John BromleyResources Mentioned:● Facebook – Jason Pereira’s Facebook● LinkedIn – Jason Pereira’s LinkedIn● FintechImpact.co – Website for Fintech Impact● JasonPereira.ca – Sign up for Jason Pereira’s newsletter● charitableimpact.com – Website for Charitable Impact● Linkedin – John Bromley● Linkedin – Michael Todd’s Linkedin
8/25/2020

Biller Genie with Garima Shah | E136

Ep. 136
In this 136th episode of Fintech Impact, Jason Pereira, award-winning financial planner, university lecturer, writer, and host interviews Garima Shah, President of Biller Genie, a SaaS company that helps companies get paid faster on their accounts payable. Garima Shah explains how Biller Genie got started, how it works for clients, and the benefits of their value proposition.Episode Highlights:● 00:29 – Garima Shah explains Biller Genie and the origin of the company.● 02:57 – Which accounting systems does she commonly encounter?● 05:28 – What was the journey to getting Biller Genie started?● 06:55 – How does the billing model work for Biller Genie?● 09:09 – Garima Shah takes us through the Biller Genie process?● 11:52 – What has been the general feedback they have been getting from most companies?● 22:06 – They talk about accounts payable automation efficiency.● 27:04 – What would Garima Shah change in her business or industry?● 30:39 – What have been the biggest challenges Garima Shah has faced?● 32:17 – What keeps Garima excited each day about her work?3 Key Points1. 90% of businesses in the world handle accounts receivable manually.2. Biller Genie charges a monthly fee plus a percentage only when they collect on invoices.3. On average, Biler Genie gets businesses paid 15 days faster, collecting 60% of their outstanding balances no matter what within the first 30 days ,and saves them between 15-20 hours a week in manual labor.Tweetable Quotes:● “Biller Genie is an automated account receivable software, which is a whole lot of words that don’t mean a lot to most people.” – Garima Shah● “Our average client does between $70,000-$100,000 a month in revenue or invoicing, and a client that does $100,000 a month would only pay $550 for Biller Genie in the entire month.” – Garima Shah● “The average cost for an invoice, according to the Wall Street Journal, is between $16-$38 to process a single invoice manually.” – Garima ShahResources Mentioned:● Facebook – Jason Pereira’s Facebook● LinkedIn – Jason Pereira’s LinkedIn● FintechImpact.co – Website for Fintech Impact● JasonPereira.ca – Sign up for Jason Pereira’s newsletter● Linkedin – Garima Shah● billergenie.com – Website