Fintech Insider Podcast by 11:FS
00:12:09 · David M. Brear, Lara Gilman
[00:12:09] S0: Yeah. Well, and like you say, you've got the point where the problem is being identified in the solution to that problem. It's a... It's quite a natural fit there. So, I mean, so how far down the line are you now? Because I imagine, you know, the day after you were like, yay, £10,000,000. But actually now the... Until the break. Exactly. So the reality of everything that's happened with... So for, you know, for everybody who's listening, we've talked to this a bunch of times before. Remedy's fund, I think it was £863,000,000 RBS gave away to various different people. That's an interesting thing to kind of have. And actually, the context of an SME space, it's just huge. Yeah. So this is really where we start to see it's the the solution moving much closer to where the problem's being identified. Right? [00:12:52] S6: Yeah. And I think it's probably important from our side what's happening concurrently is this is one of our commitments. Our other commitments around new... Bringing new products to market. And so while we're working with Xero to understand what is the right context, what will work for Xero customers, what makes sense for them, we're also simultaneously working on what are the great new products that customers need. And so our other commitments are introducing a no personal guarantee, a loan that didn't require a personal guarantee, and also bringing a new product to market which is called iWalka Pay [00:13:18] S0: Yep. [00:13:19] S6: Which really does kind of fit to the idea of how can we make payment terms easier for both buyers and suppliers
00:13:19 · Lara Gilman, David M. Brear
[00:13:19] S6: Which really does kind of fit to the idea of how can we make payment terms easier for both buyers and suppliers [00:13:24] S0: Yeah. [00:13:24] S6: Using our engine. So kind of while we study the context and understand how iWalka's engine can be used for Xero customers specifically, it's also allowing us to really accelerate our product development more holistically as well. So that gives us more options of things we can build with Xero. [00:13:40] S0: Well, and and and the the matching there of, like, product and distribution in that sense. Actually, you usually when you come up with a good idea for a product, it's like, well, let's see how many people we can distribute. Actually, you've got a great audience just to release that thing to, which, I mean, it sort of changes the game to a certain degree.
00:13:40 · David M. Brear, Ben Johnson
[00:13:40] S0: Well, and and and the the matching there of, like, product and distribution in that sense. Actually, you usually when you come up with a good idea for a product, it's like, well, let's see how many people we can distribute. Actually, you've got a great audience just to release that thing to, which, I mean, it sort of changes the game to a certain degree. [00:13:56] S2: It does. And I think the wonderful thing about the zero customer base, so we've got half a million subscribers here in The UK that are already actively engaging with fintech and apps through our API. Actually, introducing new technology to our customers is already pushing on an open door. We're really excited through phase one of research and prototyping is actually talking to the 10,000 accounting partners we work with and the half a million customers we work with saying, does this resonate? Is this kind of the right situation to introduce working capital to you or is kind of... Is it a bit odd in context? Once we figure that out and we think iWalk is a great partner to help us do that, we know that we've got 800 plus apps in our ecosystem that can help contribute at the right point in the workflow or the lifecycle. So where we're at right now to answer your question is using the resources of the BCR funding via our Walker to really understand where is the most effective place within Xero to introduce working capital Yeah. Similar to how we've done with with payments and and open banking as well. So...
00:13:56 · Ben Johnson, David M. Brear, S3, S5
[00:13:56] S2: It does. And I think the wonderful thing about the zero customer base, so we've got half a million subscribers here in The UK that are already actively engaging with fintech and apps through our API. Actually, introducing new technology to our customers is already pushing on an open door. We're really excited through phase one of research and prototyping is actually talking to the 10,000 accounting partners we work with and the half a million customers we work with saying, does this resonate? Is this kind of the right situation to introduce working capital to you or is kind of... Is it a bit odd in context? Once we figure that out and we think iWalk is a great partner to help us do that, we know that we've got 800 plus apps in our ecosystem that can help contribute at the right point in the workflow or the lifecycle. So where we're at right now to answer your question is using the resources of the BCR funding via our Walker to really understand where is the most effective place within Xero to introduce working capital Yeah. Similar to how we've done with with payments and and open banking as well. So... [00:15:01] S0: No. It makes huge amounts of sense. Congratulations. Glad glad to hear it's going so well and look forward to seeing how it develops more. So thanks so [00:15:08] S3: much for joining us. [00:15:09] S2: Thanks, David. [00:15:09] S5: Pleasure. All
00:15:09 · S5, David M. Brear, Carlo Gualandri, Nilan Peiris
[00:15:09] S5: Pleasure. All [00:15:13] S0: right, folks. So now we're gonna get into the debate bit. We're gonna get into this sort of the the the sort of loving argument as it were. It's it's gonna be really interesting. We've got a a group of people who are super passionate about the subject matter in terms of what they're doing. So it's gonna be fantastic to see how they sort of plan this out. So what we're gonna be doing on the Effingham debate is really looking at again what is the most important element when it comes to cash flows to SMEs. You're about to witness four teams of two, so each representing one cash flow stage in an SME lifetime. So what we're gonna be doing is they're all... Each of them are gonna be going head to head for the debate and we have those four teams which are spending, payments, lending, and forecasting. And which one of these is most important when it comes to actually managing cash flow as a as an SME. So if you please welcome to the stage all of the contestant... I'm gonna get very game show hosty, I think, on this one. I feel it coming out in me already. So if you welcome to the stage, so we have team spending. So we have Carlo who is the CEO of Soldo. Give everybody a round of applause. We also have Frankie who is from Farnell Park. How's it going, guys? [00:16:29] S8: Hello. Great. Thank you. [00:16:31] S0: How's it going? I mean, I don't really have to ask you where you're from with those jumpers. It's... Yeah. It's it's very good. [00:16:36] S1: We are aligned.
00:16:36 · Nilan Peiris, David M. Brear, Frankie Kay, S3, Lauren Harvey, Carlo Gualandri
[00:16:36] S1: We are aligned. [00:16:37] S0: Loving the swag. Okay. Next up, we have team payments. So this is Pranav Sudh who is from... Is the VP of international expansion at GoCardless. We also have Jonathan Barham, who is the director and cofounder at Radium. How's it going, guys? [00:16:55] S9: You me? Yeah. [00:16:55] S0: Yeah. Good luck, guys. [00:16:56] S3: How are [00:16:56] S0: you? Good. I mean, I love the swag again. Like, it's like the... Like, really make... You're setting a high bar for whoever the third one is with all three... All two of you so far. So alright. Team lending, we have Anil Stoker who is the CEO of Market Invoice as well as Lauren Harvey who is the founding director at Full Stop. [00:17:15] S7: Yes. [00:17:18] S0: You too. Let's go. Hey. I mean, slightly understated market invoice swag. I'm not gonna lie. Like, after this, this was a... It's a high bar, but well done. And last, we have team forecasting. So we have Hannah Dawson, CEO and founder at Frucily, and Nikki Adams, director at Adveram. Yeah. I've always wanted to be a game show host, but I've never had the hair for it. You know, like, I feel this is my moment. Okay? Okay. Welcome teams. [00:17:56] S8: I don't [00:17:56] S0: know why I'm camping this up so much. It's a it's a very strange thing that I'm doing. Okay. Hope you guys are feeling pretty pumped about this. You're all ready to sort of battle your sides. You all know what you're arguing for and against essentially. Yeah? All good to go? [00:18:11] S3: Yeah.