Fintech Insider Podcast by 11:FS
00:28:22 · Carlo Gualandri, David M. Brear, S5, Frankie Kay, Nikki Adams
[00:28:22] S8: Here exactly for that. [00:28:23] S0: I mean I mean, you you can spend more than your revenues, but you're pretty screwed at that point, aren't you? To be fair. [00:28:28] S8: It's it's a time question. Of course, to build a business, you spend more than your revenues in order than to have higher level of revenues. That's that's the the engine of growth for...... [00:28:40] S5: Forecast that you're overspending, if you don't know what the behaviors that you are undertaking today, what the impact that they have on the future, you're screwed anyway. So if you, you know, if you're spending faster than you're collecting Yeah. You're screwed. [00:28:52] S9: Back to the [00:28:52] S5: education now. If you then take funding and you don't know the implications What falling into the trap? You're to have on your business, you also are. [00:29:00] S8: Yeah. But we're falling into the trap, [00:29:02] S0: he wants [00:29:03] S8: us to... He wants the blood. [00:29:05] S0: Hey. What's on? It's not about me. Don't make this about me. He's not me. No. You want one. Of course. Blood sells... Is the business...... Than long. Can I? But but [00:29:16] S8: thing is... Yeah. Yeah. We can argue a little bit. Just one thing. You said it's spend management. It's not expenses. [00:29:25] S0: Absolutely.... Management means...... Thing, [00:29:29] S12: isn't it? But if [00:29:29] S8: you Outgoing transaction. [00:29:31] S12: What keeps a business owner awake at night? [00:29:33] S0: No. No. [00:29:33] S5: That... Was the thing.... Where they are.
00:29:33 · S5, Carlo Gualandri, Nikki Adams, David M. Brear, Pranav Sood, Lauren Harvey
[00:29:33] S5: That... Was the thing.... Where they are. [00:29:35] S8: When you were saying it should...... [00:29:36] S12: Knowing if they've got enough money or if they haven't got enough money. So, you know, that... So that's... It's the hardest concept. Think for, know, cash flow forecast is the hardest thing for an SME business owner who's got no financial knowledge. It's the hardest thing for them to understand, in my opinion. [00:29:52] S0: Alright. On that note on that note, I'm gonna draw it in. One. Because I I feel we might be at smashing glass territory down here. [00:29:58] S10: It's it's just good to move on at [00:29:59] S0: this stage. Anil, I saw the rage in your eyes. So we're gonna move on in [00:30:04] S7: bad list. [00:30:05] S0: Wish you had [00:30:06] S7: if it goes really nasty. [00:30:07] S0: Well, save it for the later rounds [00:30:09] S10: is all I'm saying. So alright. [00:30:10] S0: So that concludes the opening arguments and and to be fair, it's clear the competition is clearly heating up. So what we're gonna be doing is going on to the next question. So which category has seen the most digital innovation? So it's gonna be really really interesting to see this. So I think in terms of each team having two minutes on the on the clock and I think getting that that view of of kind of where we where we go to. So, I mean, starting with you guys, has... How has your area seen a significant digital disruption?
00:30:10 · David M. Brear, Frankie Kay, Lauren Harvey, Pranav Sood
[00:30:10] S0: So that concludes the opening arguments and and to be fair, it's clear the competition is clearly heating up. So what we're gonna be doing is going on to the next question. So which category has seen the most digital innovation? So it's gonna be really really interesting to see this. So I think in terms of each team having two minutes on the on the clock and I think getting that that view of of kind of where we where we go to. So, I mean, starting with you guys, has... How has your area seen a significant digital disruption? [00:30:46] S9: So I think if you just look outside there, it shows the amount of advancement in monitoring employee expenses, using Soldo to control that and know what's coming in. You've got ApprovalMax that controls who buys what and why. You've got Receipt Bank for capturing it that it's it's out there that shows the advancement on our side first. And yeah, that's my point. [00:31:11] S7: Over to you. Yeah. Yeah. [00:31:14] S0: Okay. So, I mean I mean, that was a good twenty three seconds. [00:31:16] S9: Thought I thought I did [00:31:17] S0: well. Based on the first question, you've left him loads of time. [00:31:20] S10: It's good. So [00:31:21] S9: I'll chip in.
00:31:21 · Frankie Kay, Carlo Gualandri, David M. Brear, S3
[00:31:21] S9: I'll chip in. [00:31:23] S8: So I will take the contrarian point of view. And I would say we're just beginning to scratch the surface of what can be done. The whole point is not just the basic transactions, outgoing transactions. It's the whole logic and the management of all the processes that are behind money getting out in one way or another. So exactly as practice is going from compliance into advisory because that's the value added, We're... We still have a long way to go from the execution of payments into the full end to end management of the reason why people pay. Mhmm. We're still doing bank transfer. We need to pay invoices or payroll, bringing the intelligence of understanding the why of the business integrated into the business... Into the banking side. Banks today know nothing about the why. I move money from a to b. That's my job. Not enough. I don't do compliance anymore in a practice. I do advisory because that's not enough. Yeah. This is the evolution. We're just at the beginning. [00:32:33] S0: Nice. With ten seconds to spare. Nice. Feeling confident. Love it. Moving on. Oh. So you [00:32:39] S3: wanna use [00:32:40] S8: this again? Let's... [00:32:41] S0: Do the... Let's send a law... You're gonna give them ten seconds to to... [00:32:46] S8: Yeah. I know. I I I'm sending the law to revenues Right. Because historically, evolution and and and innovation in the revenue side has preceded anybody else because it's where you start.
00:32:46 · Carlo Gualandri, David M. Brear, Pranav Sood, S3, Ben Johnson
[00:32:46] S8: Yeah. I know. I I I'm sending the law to revenues Right. Because historically, evolution and and and innovation in the revenue side has preceded anybody else because it's where you start. [00:32:57] S0: There you go. Alright, guys. You got two minutes. Tell us which category has seen the most digital innovation so far. [00:33:04] S10: Yeah. I think when you look at payments and the innovation across fintech, it's been absolutely incredible where you used to have a small group of high street banks who monopolized and manipulated that industry. And for small businesses now to be able to set up a GoCardless account in kind of a handful of minutes, get it linked to zero, get money rolling in, to now kind of we're seeing stuff with zero pay and being able to manage that outgoing payment process as well. It's just absolutely incredible now the power that small business owners can have and the borders to entry are effectively just completely gone. And it's it's kind of... Some of the other things here, like the innovation across the whole of the industry is incredible. But in some places, we're kind of digitizing things that existed, whereas in payments, you're taking something that just couldn't be grasped by small businesses and giving it to them. [00:33:47] S3: Nice. Yeah. I mean, I fully agree. I think I should also start by saying I think there's been a ton of innovation across [00:33:53] S2: the board, and that's not [00:33:54] S0: Don't start being friendly.
00:33:54 · David M. Brear, S3, Carlo Gualandri, Anil Stocker
[00:33:54] S0: Don't start being friendly. [00:33:55] S3: Well, I'm I'm slightly worried about getting jumped on the way to the DLR tonight. I think I'm gonna rebuild I'll protect you, mate. As the smallest man on stage. I need to rebuild my jack off. Nobody alone. It's [00:34:04] S0: on it. [00:34:04] S3: No. Look. There's been a ton of innovation everywhere. I think building on Jonathan's point, the the salient question is what was the past and what does the future look like, what does the present look like? We look at the past in payments. It's bank transfers. It's checks. Remember those? In The US, still 50% of the b to b payment volume goes through that payment mechanism, believe [00:34:24] S0: it or [00:34:24] S8: not. We've got a lot [00:34:25] S0: of listeners in The US. You've just offended a lot of people. I'm just... That's [00:34:28] S3: fine. Yeah. I'm just stating... [00:34:30] S11: I'm just telling truth It's true.