Heiser: Segmint only loses banking clients via M&A
Rob Heiser · 1463 He's Wealthfront, Robinhood, Betterment Worst Nightmare helping Banks retain deposits · Jul 27, 2019 · at 17:21
Rob Heiser, CEO of fintech software company Segmint, explains customer churn dynamics to Nathan Latka.
0:00 / 0:21exact quote · 21.8s
720p mp4 · rendered on demand · StarZero watermark
“You know, the funny thing is, is the only time that we've typically lost a client in our space is from acquisition. So obviously it's a lot of M&A is happening in banking and financial services. And that's typically, you know, you either win or lose on the M&A transaction for us. And so outside of M&A transactions, we really haven't lost a client.”
quote is from the automated transcript, cleaned for reading: filler sounds and stutters are removed, nothing is rephrased. names can be misheard (the analysis reads context, assessments check outside sources). how →
More from Rob Heiser
Heiser: Once customer deposits move to fintech apps, they rarely return
“And from a bank perspective, once the money moves, it typically doesn't come back.”
Heiser: Segmint serves banks from $200M assets up to top 50 institutions
“We have institutions as small as, you know, two or three hundred million in assets to institutions that are in the top 50 in the country.”
Heiser: Segmint charges banks 5¢ to 20¢ per account per month
“So we charge anywhere from like a five to six cents based on what features are using in our product all the way up to 15, 20 cents per month. And that's on a per account basis. And it's also scales based on how many account quarters I have.”
Heiser: Segmint has raised over $30 million in outside capital
“Oh, we raised, we've raised over thirty million dollars.”
Heiser: Segmint processes billions of financial transactions per year
“What we're doing on the library side is we're categorizing all that data, so we're seeing, you know, billions of transactions a year, and so we see those transactions and we're categorizing them both by the technology that we built, but”