Richard discusses predictive AI applications in FinTech, including the state of the robo advisor industry. Sramana Mitra: Let’s start by introducing our audience to yourself as well as to Bristol Gates.
Sramana Mitra: In terms of functionality trends, what’s changing? Don Mal: As artificial intelligence and machine learning technologies have become more available to software companies, you can have AI and machine learning integrated into analytics-type functionality to get to important data faster. Sramana Mitra: Do you have this in deployment?
Don Mal discusses the trends in budgeting and forecasting software. Sramana Mitra: Let’s start by giving our audience a little bit of context. We have talked to you before, so we’ll just link to the previous interview. People can catch-up from there.
Sramana Mitra: Does Apple need to click on your button too on the platform? Eyal Shinar: No. Sramana Mitra: Then you don’t need any integration with Apple. Eyal Shinar: That’s correct. That’s what I was saying earlier. In most scenarios, we don’t need anything from the buyer side. The way to think about it is
Sramana Mitra: It’s not a big buyer whose problem you’re solving. You’re solving the small business’ problem of cash flow. A small business working with a large buyer with not very favorable terms puts the small business at the mercy of the buyer. In this case, just inserting Fundbox or equivalent speeds up the working
Sramana Mitra: Why are you not involved in transactions where it’s a large company buying from a small company? Eyal Shinar: Because of the point you just raised. Interestingly enough, some larger companies, not as big as Apple, reach out to Fundbox as a seller. We already have agreements in place, but it’s not public
Sramana Mitra: What percentage of sellers are working with you in this mode? What is the penetration of this kind of technology in the B2B sellers’ world? What percentage of the sellers in the world are working with Fundbox or competitors today?
Sramana Mitra: Can you walk me through a use case? Let’s say a small business applies to Fundbox for financing. Do you call it financing or do you call it something else? Eyal Shinar: There are a few gateways to the product. It depends on what you’re solving. I would divide it into two buckets.