Financial Services

“I think in five or 10 years, people are going to be using financial services. A lot of it will be running on crypto rails. They won't even really know or care about crypto itself. They just like, oh, this is a cheaper way to send money abroad to my family, or …”

“Our fastest growing of like the, of the verticals in general is financial services is number one for sure. So like banks, private equity, asset management and then pharma is actually growing pretty fast too.”

“So when you look at financial services, or you look at utilities, or you look at airlines so many of those contact centers are like, they're still not even migrated to the cloud, right? I think the incentive to innovate is, is much less in these sort of oligop…”

“And we tend to see about 50% of our customer base is highly regulated industries, such as financial services and financial institutions, where they have the need, the impact can be very high, but they don't necessarily have the Let's say desire to build in hou…”

“Financial services tend to be most innovative and most progressive in like their worst countries.”

“Financial services is like, is a key pillar. Like you can argue that financial services is like the first end to war to our country, right? Like we start with sanctions. We start on cutting them off from the US trade. We start with that before we put boots on …”

“I think that the approach we took from the start was that financial services or healthcare, I think you can't ask for forgiveness. I think there's a big difference between losing people's money, see what goes wrong, like an FTX example that can go very wrong w…”

“You might end up in a world really a year from now. There might be clients that have like certifications that they are in Amplik and get like a signature that they are like financial services, MCP clients, and they can prove it for the server. And only then th…”

“I think in financial services and healthcare, The only way to build something that will last the test of time and that will truly go mainstream is to work with regulators, to do it clean, to do it right.”

“I like to say, especially in financial services, with that high bar to having a relationship you should probably just buy Google stock or Facebook stock versus investing in most companies because, like, that's where all the money goes. It's like you, like, you…”

“That same thing is going to happen and is happening in financial services where the sort of increase in commoditization and product and products within products, you've lost connection with what you're actually investing in or whether those things are actually…”

“I think the thing that we found that has the most commonality among the verticals that we do well in is that they have a high number of, perhaps unsophisticated, is a diplomatic way to say it, users. So, education is a big market for us, not so much in terms o…”

“We are seeing large companies willing to adopt voice bots for collections.”

“The pure venture capital play continues to be really, really active, at least in our In our firm. It continues to be active in a number of industries. And so we see it in digital infrastructure. We see it in financial services. We see it in insurance. We see i…”

“I think it'd be hard to part-pressed outside of maybe a big tech to find an industry that has such a durable source of profits and revenue, probably represents about 15% of the global profits, you know, probably a little more of that global revenue, and it's a…”

“So we are finding traction primarily in the financial services space and the consulting world, right? Both of these rely on a lot of data, a lot of information knowledge workers, you know, spending most of their time where the input is information and the outp…”

“Real enterprises have picked up voice so quickly to replace human beings on the phone or to augment what human beings are doing on the phone. Even in really kind of sensitive and critical categories like financial services, because previously they were using o…”

“As I think about, you know, investing in, especially investing, you know, in an agentic future in financial services, it's still going to be a long game.”

“If you work in financial services, you're in a data arbitrage business. So the faster you can get to unique data, the better you are at your job.”

“Financial services will be close to 30%, a little bit less than 30%. Education would be another 30%, including U.S. Because we sell in U.S. Education. Then the healthcare would be about, you know, 10 to 15%.”

“Like it is very possible the poorest people on earth today, or, you know, in 10 years, we'll have access to better healthcare better legal representation you know, better financial services than, like, billionaires have today.”

“And if I look at financial services, I mean, it's the biggest industry in Canada. It's seven percent of GDP. It's, which is actually twice the size of our OECD peers as a percentage of revenue per GDP.”

“Preparing for those things to happen is not often in the mind of the kind of typical tech company. It's much more like go for broke. That doesn't work in financial services.”

“With financial services, it's a bit different because you've got product market fit and you've also got product channel fit as well. There's products that fit well with certain channels and not with others.”

“The difference is actually about whether the underlying thing, like the thing that you're actually engaging in, has actually some sort of economic, social, cultural relevance outside of the act of placing the trade, right? Like, and so, so it's like, is it art…”

“And I realized that the early, like, incredibly, the smartest people in the world, incredibly smart kids, were going and doing the stupidest tasks.”

“The stuff that matters for financial services, but also for law, for all of knowledge work, is offline unstructured information.”

“There's enthusiasm, but I, it's definitely not unbridled as people are very worried about the accuracy, the hallucination, the efficacy of these, and particularly as you start pointing these to customer facing solutions, there's a very high bar on what that's …”

“If we come back to financial services, there's a lot of pretty terrible systems of record where smart people have tried to get them ripped and replaced and just, it was just not gonna happen. And my new conclusion with AI is not that they would never do it. It…”

“When I speak to folks, It's super conflicted in financial services. Yeah. People are pulling away from cloud. They're pulling away from cloud. They're building out their own data center capacity. Everywhere else still seems to be, we need to migrate to cloud.”

“There is a group which is moving slightly faster than the average, which is somewhat Counterintuitive. And that group is actually the regulated industries. And so it's folks like in financial services and insurance and healthcare and life sciences and manufact…”

“Look at Target. I mean, ah, they make more money from financial services than retail.”

“Financial services AI companies now are big buyers of data tech and then, like, the sales and marketing ad tech world. Like, those are your big three verticals that you want to think about generally for, you know, and there are big data businesses and other ve…”

“I don't actually think they're on the cusp of it as much as, you know, you'd think, like, I, you know, if you think about a lot of this, the big data stuff, like, 10 years ago you know, the hedge funds were all over that, right? They're like, hey, there's alph…”

“What's the largest number of billionaires? And most people think it's tech and it's not. And then they think it's real estate and it's not, it's financial services, but it's not hedge funds and it's not VC funds, some VC funds, but not most, very small. It's p…”

“I think in 2024 will be a significant rise of the developer as the buyer in financial services.”

“So I find that in financial services it's not often sufficient to solve part of a problem for a person. But what is sufficient is to solve a complete problem for a very narrow set of people.”

“So instead of in context, like banks and financial services, NPS is -30, right? So most people don't recommend their banks, right?”

“And from that perspective, I would say financial services are at the forefront. Most of the financials have figured out for a long time how to organize data and leverage data for competitive advantages.”

“Financial services is the single biggest market cap in the region.”

“We allocate today about 80% of all resources and energy to financial services, so that core continues to have most of the allocation of resources.”

“We think that AI is now the second platform shift that might actually be able to take it to its final conclusion. And so if the smartphone was the bank in every pocket, AI is the bank and the banker in every pocket. And that really is the catalyst to Enable hu…”

“Legal, healthcare, life sciences, clinical trials, drug discovery, all these areas where financial services, insurance, Like, the oldest, stodgiest industries that you can imagine. They've got so much natural language. It's such a large opportunity. I think th…”

“The way we've looked at it is non-regulated businesses in general will be earlier adopted. So think consumer and other areas, areas that are highly regulated, like financial services or healthcare will be slower because of the risk of getting it wrong.”

“So even when Latinos are in the workforce, even when they have college degrees, They're still 60% not fully banked or not fully utilizing the financial services of this country”

“The density of smart, skilled, ambitious people was way higher in financial services”

“And by the way, the thesis behind FinTech is that in every country in the world, financial services is generally somewhere between 10 to 20% of market cap and GDP. And so if you can disrupt that, that's a big piece of profits and revenues to go after and build…”

“I'm biased because I'm really, really bullish on finance and intersection of tech as one of those big platform shifts with crypto, but also broadly financial services.”

“So lessons learned I suspect is in intrapreneurship, you want to ask for forgiveness and not permission, except in two exceptions. One is healthcare and where you definitely don't want to be lying on like the effectiveness of your underlying drugs and processe…”

“Financial services is really holding back innovation in the world. And it's holding back human progress because people don't have the freedom to participate in this global economy because of all the barriers to innovation.”

“But now, in a 25 trillion dollar industry that has long been dominated by suits and lawyers, the power is moving to developers.”

“And I have found in financial services, they're very much like-minded people, whether it's public investing, you know, whether it's like hedge funds or in private equity. Or even investment banking and money management is probably. 70% of my client base.”

“Similarly, we are going to see, and we are already seeing, an explosion of financial services. Which is new neobanks, new, directly new fintech companies, but then more to the point, all of these consumer companies, all of these business companies are adding f…”

“What that will do, though, is it will make customer acquisition more difficult for new entrants, and we can talk more about that later.”

“And what consumers are showing increasingly is that for a high-quality product, a personalized product, They're more than happy to pay a predictable average fee per month, and we're seeing that business model move into financial services, which speaks to your …”

“The battle between the incumbent and the startup is whether the incumbent can get innovation before the startup gets distribution. And that applies to any industry, but it applies especially to financial services because getting customers is so damn difficult.”

“So it's this consolidation within traditional and new fintech and then dispersion across much, much broader industries.”

“Globally, we also have a thesis that is that around this idea that the distinction between financial services and Other consumer experiences, that border is going to blur.”

“Financial services happens to be a space and FinTech, especially given the technology is an equalizer. You know, there is a lot of transferability across markets. There are obviously a lot of nuances, whether from a regulatory perspective, policy perspective, …”

“And eventually financial services is not about great technology, it's not about great algorithms, it's not about great data science, it is simply about great product and great service, right?”