Financial Institutions

“A lot of the financial institutions already have a nuclear response scenarios where they make physical hard copies of everyone's assets and records. They sit in different locations. There's a lot of systems of redundancy that are air gapped that are designed t…”

“Our industry grew up being secretive. Not secretive because we had anything to hide from anybody, but think about the first two significant customers for large-scale data centers. It was the financial institutions and it was the government, and they were secre…”

“How we've gotten approval at a lot of these larger financial institutions is we don't take any of the high risk data. We're not taking social security numbers. We don't take balances. We don't take account numbers. We don't take legal documents, you know, like…”

“Many of these institutions are beginning to adopt products like Cursor or, you know, even GitHub Copilot or a broader ecosystem of kind of AI products in their employee base, and people are seeing the productivity gains.”

“A lot of times you're speaking to folks that, you know, if they make a wrong call here, they could get fired, right? And so you spend a lot of time building that trust. I think the big part of that trust is, is FaceTime and getting in front of people, obviousl…”

“Stable coins I think are kind of like a baby step in in the sense that it's a lot more clear what the value proposition is, it's a non-speculative use case and so I think it, it's just a good entry point for some of these larger institutions.”

“There's a huge amount of process ahead of the production piece, which is like, we are the system of record for products, right? We are the system of record and these institutions for offers. We are the system of record for their compliance, for their disclosur…”

“Late into 2021, All these institutions were buying huge amounts of bonds. Why? Because consumers weren't getting normal loans and you know, because they were flush with printed cash.”

“Where, you know, financial institutions basically do not have enough information to make solid credit decisions, not on consumers or on, on companies, and that has led to the access to finance being extremely, extremely low.”

“Since the last financial crisis in 2008, there's been more than two hundred and fifty billion dollars in fines for poor compliance procedures.”

“There's so much distrust in financial institutions. I would say that's something that cuts across all generations because we come from a lot of financial trauma, From our countries of origin, you know, some of us still remember the day our parents lost it all …”

“I think there's a lot of systematic risk in the lending market in the United States that's not in financial institutions.”

“The way I envisioned the company around the time we were forming sensible was always as a enterprise play in partnership with financial institutions, not as a standalone app. Number one, because I thought that that marketplace is already pretty well establishe…”

“So now I just got to get to a senior manager level person or a manager level person in the technology practice at Deloitte, much less daunting. And then you can start to understand how a bank organization works. There's no website where you can just kind of se…”

“There are some amazingly successful companies that sell to financial institutions that are adjacent to us that I would not say are mission critical to the financial institution, which means that if they rip them out tomorrow, nothing about their business chang…”

“So the notion that you don't have a blockchain strategy, if you're a financial institution now is no longer possible. You have to know what you're going to do and how, or if you don't want to do something, you better know why you're not doing something.”

“It's like a fifty-fifty split. 50% comes from the software as a service and 50% comes from the commissions that we get from the financial institutions.”