Sramana Mitra: Let me ask a bit of a 30,000-foot level question to synthesize what you have said so far. Is your company set up as a platform and you have all these different use cases that you build on top of that? Or is it a product company? How is it structured? Rich Longo:
Sramana Mitra: The pain point that you are solving is speeding up the loan appraisal and processing process. Is that an accurate synthesis? Rich Longo: We cover the entire life cycle of the origination process – from the beginning with a customer entering a loan application to the loan getting serviced and the closing of
NXTSoft is the Mulesoft for FinTech. Read on to understand the positioning better. Sramana Mitra: Let’s start by having you introduce yourself as well as NXTSoft. Rich Longo: I’m the Chief Strategy Officer and Division President of our data and connectivity business. NXTSoft is a data, connectivity, and cyber security business that is focused on
Sramana Mitra: I just talked to an entrepreneur in Romania. 30% of his business is tying in with another e-commerce platform called Wix. I can tell you that if you talk to that guy, he’s going to give you a completely different point of view than the one that you are pushing which is people
Sramana Mitra: From a strategic planning point of view, you have to look at where you are, where your market is, where the competition is, and figure out the priorities and market drivers. It’s true that everything works and everything doesn’t; but you have to make choices and decisions, and those other factors drive decision
David Barrett: When it comes to the platforms, I’d be curious to see if a major value of one the platforms is reaching existing customers. One of the major ways of starting a new business is to reach new customers that are currently underserved. Can you use the Salesforce platform to go after a market
Sramana Mitra: I work with formation-stage companies all the time. Two guys or one person and an outsourced team of developers build these formation stage companies where they would want to spend their resources. The best place to spend your resources is what is differentiated. Going in and competing against AWS is not a differentiated
Sramana Mitra: Let me address the points that you have made. The first point is that one of the most successful ecosystems where 30% of the apps revenue has gone to the company and has immensely added to the company’s success is Apple. It’s a platform ecosystem. David Barrett: I completely agree with you if you