Small business owners are looking to banks to provide data, tools and analytics to help them make more informed financial decisions.
“Business owners need better tools to make better financial decisions, understand their finances and where their finances are going,” fintech Monit Chief Executive and founder Steve Dow tells Bank Automation News on this episode of “The Buzz” podcast.
Banks of every size must be equipped with the right tools and data to serve small business customers effectively, he says.
While major FIs, like $4 trillion Chase for example, are building proprietary technology like Chase Customer Insights to serve their SMB clients, smaller FIs also can compete by looking to fintech providers for the tools their SMBs are seeking, Dow said.
Boston, Mass.-based Monit, founded in 2019, provides financial institutions with cash flow analysis, forecasting, industry benchmarking and other insights that can be tapped by small businesses as demand for these solutions grows, Dow says.
The tech provider has raised $14.3 million in funding, according to Crunchbase. The tech offers integrations with banking platforms including Q2, Apiture, Banno and Narmi.
Monit will demonstrate its technology at Bank Automation Summit 2025 in Nashville, Tenn., on March 3.
Listen to this episode of “The Buzz” podcast as Dow explains how small business owners, like bankers, are using data to make financial decisions.
Register here for Bank Automation Summit 2025, taking place March 3-4 in Nashville, Tenn. View the full event agenda here.
Subscribe to The Buzz Podcast on iTunes, Spotify, Google podcasts, or download the episode.
The following is a transcript generated by AI technology that has been lightly edited but still contains errors.
Whitney McDonald 08:21:34
Hello and welcome to The Buzz a bank automation news podcast. My name is Whitney McDonald and I’m the editor of bank automation News. Today is January 27 2025 Joining me is Steve Dow, CEO and founder of FinTech Monet. He is here to discuss how Monet’s data driven solutions can help bankers and small business owners make financial decisions. Monet will demote their technology in March in Nashville at Bank automation summit 2025 visit bank automation summit.com for more information about the summit and the demo challenge. Thanks for joining us, Steve. Well,Steve Dow 08:22:07
first of all, Whitney, really appreciate you having having me on the buzz. We’re looking forward to the podcast and obviously for the for the summit in a few months. Yeah. So little background on me, maybe not your sort of typical FinTech founder, you know. So I was, I’ve been in financial services my whole career, and was at a bank prior to this, you know. And I was at the bank, I did, I did a couple of things, but one of the things I did was help to run the business banking group, and really noticed some of the issues that banks have serving small business clients, as well as some of the issues that, you know, business owners have with their bank. And that kind of led into what ultimately became, Monet got together with some other bankers, and we sort of, you know, landed around a couple of theses, around things that business owners should have access to, data and other tools that bankers should have access to, and realize we could put it all on one platform. So, you know, that’s kind of the quick background of the company. As far as you know, little background on me, you know, I’m actually have been a small business owner as well. So you know, when I was 14, I started my first small business, and I’ve had a bit of an entrepreneurial streak over the years, so starting Monit five, six years ago was kind of a perfect culmination of both My professional background, having been in financial services and banking, also having spent a lot of time as a small business owner and with Small businesses. So we like to think of ourselves as a software company by bankers, for bankers, and really helping both sides of the equation benefit both a small business owner and the bankers.
I have to know what the first business was at 14.
So I’m a lifelong tennis player. Played tennis through college, so I started a tennis racket stringing company, both for local players in my area, and then my big win was I got a contract to the the local tennis club to string all the rackets for them. So as a 14 year old, that was that was pretty cool.
Whitney McDonald 08:24:12
Nice. That’s awesome. Now, obviously not on the tennis side of things, but on the Bing technology side. Let’s hear a little bit more about Monet. Maybe we can get into some more specifics. And you know, what problem are you really solving for? What does Monet really do? What’s the need for this solution?
Steve Dow 08:24:30
Yeah, as I alluded to, when we started a company, or when we started thinking about the company, we really saw two issues. One that business owners are great at being butchers, bakers and candlestick makers, but they’re not great at running the financial side of their business. Most of them don’t have a financial background, and they see it sort of as a necessary evil of running the company right. They want to grow revenue, they want to develop their employees, accounting, finance and banking aren’t things that tend to interest them, and they can get themselves into trouble because of that, and we would see that all the time at the bank. So that was really observation number one is that business owners need better tools to make better financial decisions, understand their finances and where their finances are going. And observation number two was that as bankers, we knew we didn’t always have all the data that we needed to truly serve our business customers. Bankers fancy themselves as trusted advisors to their business customers, and they know that their business customers have other fi relationships. They might have their checking account at the Community Bank. They may have loans from some of the mega banks. They have credit cards from some of the top card issuers, and so as a banker, you can only see a small slice of that. So what we wanted to do was bring better data, better tools, better analytics, to the banker so they could serve their small business customers more effectively. And that was really the founding thesis for the company, and that’s what we’ve been building over the years. So to put a finer point on that, bonnet is a two sided platform. So we have tools for the business owner, things like cash flow forecasting, industry benchmarking and valuation insights, planning, etc, sort of a digital CFO for a small business owner, all of those tools are white labeled and made available through the bank’s digital experience, and we connect to the business owners, general ledger so QuickBooks, or whatever they’re using for accounting, so we see that full financial profile for the business owner that powers those tools like cash flow forecasting. Yeah, it also gives us insight into what that business owner is doing with other FIS, and we use that data to help the bank serve those customers more effectively. So I know we’ll probably get into this further down the line. But as an example, we can see if a business has, you know, significant deposits at another institution, or if they have other loans at another institution, and use that data for really targeted messaging and for leads for the banker to again start those conversations with their business customers.
Whitney McDonald 08:27:05
So even from a competitive standpoint, there’s a there’s a, you know, use there to compare, yes, that data.
Steve Dow 08:27:14
Yeah, exactly. So again, from the banker standpoint, you know, they know that they only have a certain share of wallet. They don’t know what that is. They don’t know if it’s 10% or 50% and we can illuminate that through the data to say, hey, you know, for this customer, they’re using, you know, B of A or whoever, in addition to you. And we can, you know, quantify that to say, hey, you know, this is the share deposits you have, and then help the bank, you know, sort of see if they can increase cross sale, increase product coverage across their small business portfolio, you know, based on that data and those analytics that we provide
Whitney McDonald 08:27:48
now in the past year plus or so, and even reflected on in Our agenda for the summit, we have been following along this idea that small businesses really are looking to their banks to be a tech provider. Provide solutions like this, offer that holistic view. I know that you mentioned before, of course, small business owners want to, you know, grow their revenue. They have other priorities, but there’s these tools that they can use. Maybe you can share a little bit more on that side of it, of kind of being these tech providers offering the solutions to SMBs.
Steve Dow 08:28:25
Yeah, I know it’s you guys are all over the trend, but it is an important trend over the last couple years, and there’s potentially a few reasons for it, but what we’re seeing is a lot of the mega banks offering their own proprietary tools. And so again, investing to court these small business customers, provide them these types of tools. And there’s different flavors of it, but we’re seeing the big banks do it. And so it’s becoming kind of table stakes, where business owners are saying, Hey, listen, you know, there’s some banks out there that are offering me these tools. You know, as a community bank, what do you have to offer? And we see ourselves as really kind of leveling the playing field for regional community banks to be able to offer the same types of tools. And we obviously think they’re a little bit better than the big banks, but that’s kind of what we’ve been seeing. And because, because business owners, as I mentioned before, they’re not financially savvy. They want these tools. They need these tools. And so if, as a community, regional bank, if you’re not going to offer it, they might go to one of these mega banks to take advantage of it.
Whitney McDonald 08:29:27
Yeah, I think that’s a great point, because the big institutions, of course, and we’ve covered what those tools are, and what they’ve launched, and what they have, being able to have those same solutions without having to move to a mega bank and kind of keep that community banking relationship is key for a lot of these SMB banking relationships, too. Now I know that you kind of started mentioning a use case or an example, but maybe you could talk us through how financial institutions are really using this technology. What can SMBs really expect out of money from their financial institutions that offer it? Sure.
Steve Dow 08:30:07
Yeah. So there’s really, really two, two use cases. Talk about one, what’s the small business owner getting it, getting out of it? And what is the bank getting out of it. We’ve we’ve already started to talk about the small business side, which is these customers want these tools, and so the when the bank offers, you know, cash flow, forecasting, financial advice, industry, benchmarking, all this kind of stuff, it’s really helpful for the business owner to see kind of where they are, where they’re tracking, to help them make those decisions. In fact, we’ve done, you know, case studies with our with our bank partners, and we find that when business, when banks offer our tools, businesses spend almost three times as much time in the digital experience because they’re looking at these tools. They’re understanding what the insights are telling them. So just from a digital engagement standpoint, it’s really increasing the bank’s primacy with their with their business customers. Now, what is the bank getting out of it? Well, there’s a tremendous amount of data that we provide. Not only provide the data, but we curate it in a way that it’s really actionable. So we have triggers and algorithms behind the scenes that are looking for opportunities for the bank. So I started talking about something before, but we can see if business owners have big deposits at other institutions. We can see if there’s, you know, they have a lot of equipment loans on their balance sheet. Or we can see who they’re using for payroll, because a lot of banks have a payroll partner, and we can see they’re doing sort of increased fee income. And then one other, you know, sort of poignant example with one of. Banks. Last year, the bank was really interested in Merchant acceptance and seeing who was using, you know, some of these non bank providers, like square for their merchant acceptance, because this bank has their own sort of partner and a pretty robust program. So we will identify all of the businesses in the portfolio that we’re using one of these sort of off prem merchant providers sent a targeted campaign to those businesses. And you know, the campaign, just to give you some metrics, had about a 50% open rate, about a 25 ish percent click through rate. So they were interested in the offer that the bank was making, and over 10% converted to the bank’s merchant provider. So huge ROI for the bank, and that’s just an example. So those are the types of campaigns and analytics that we do all the time with our bank partners to provide the real kind of hard ROI to the bank for offering this program. Great.
Whitney McDonald 08:32:30
Thank you. And yeah, ROI is always a good one to lean on, too, right? What can you get out of the technology as the bank too? Now, if you’re a financial institution that wants to tap on it, maybe you could talk me through how that works. What does the integration look like, the timeline, keeping in mind that it probably varies depending on institution size, and, you know, complications on that front, but maybe just from a big picture, how do you get up and running with Monet Sure, so the
Steve Dow 08:33:00
one thing I’ll stress before responding to that directly is we are a team of bankers, right? So our CTO is a former banker. I’m a former banker. Our customer success team is run by former bankers. So we totally get the language. We totally get the security posture, all that kind of stuff. And so as it relates to integration and getting going, a couple things are worth noting. There the technical side and then the sort of practical side. On the technical side, we have integrations with many of the major digital banking providers. And so if you’re a bank that you know, which most of them do you know, you get their digital banking through one of the sort of well known providers out there. We likely have an integration already built for those. It’s relatively straightforward because the integration is live, and we have numerous banks on the platform we can get going, you know, inside of a couple of weeks. And so those are the most straightforward. If it’s one of the larger banks or someone who’s opted to have their own sort of homegrown digital platform. The good news is, again, we’ve done many of those integrations as well. We’re pretty good at that, you know, just sort of a ballpark on that, depending on the complexity. It can be, you know, three months or maybe a little bit longer. And we would scope that with anyone. But that’s, again, we’ve done that a bunch. We’re pretty familiar with those types of integrations. So that’s the technical side, but it’s it really comes down to how the bank launches it and implements things. And so we like to say the the technology is the easy part. It’s really about educating the bank, educating the bankers on what’s coming. And that’s why we have a customer success team. So we’re not just selling software with all the engagements and partners that we have. They get assigned a customer success person who is with them for the life of the relationship. So early on, there’s a lot of work again, and we have a full playbook. So we have all the marketing collateral, all the emails, all this stuff to help activation. Of course, the bank gets to make it their own and has to go through marketing compliance and all that kind of stuff, but we want to get you 90% of the way there, so we have a playbook to do that and so and then once you get through that initial launch and sort of initial bump in engagement, our customer success team is working with you to continue to activate folks, and then start using that data to send out some of those campaigns to make sure the bankers are well equipped with the data when they’re going out and talking to their business customers, some of some of the bankers that we talk to at our bank partners, they’ll basically use our software as pre call planning. So they’ll go and they’ll look at a business, they’ll see kind of what their profile looks like. They’ll see what some of the opportunities are, and they can have a much more targeted conversation with their customers, so long answer to question, but to implement the technology tends to be the easy part, and then we’d work very closely with the bank to ensure that they’re sort of getting the most value out of the platform. Well,
Whitney McDonald 08:35:47
I think that’s what the banks like to hear, right? That you’ve got the tech side covered right, right now, of course, you’re going to be at the summit, you’re going to be part of the demo challenge, which is exciting, without giving too much away, maybe you can kind of offer our listeners a little bit of a teaser on what they can expect from your demo, a little bit about what you’re going to share, what they might take away from your specific demo at the event.
Steve Dow 08:36:14
Yeah, no, we’re super excited to have been invited and to be included in the demo. Yeah. So I think, you know, a couple things that we like to do when we demo things, obviously, show the software. Show, show some of the things that I’ve just been talking about, because it’s much more compelling to show it than just to talk about it. The other thing, and I want to get. Too far ahead of myself is we have a new product that we started piloting with a couple of banks last year. And so we will likely be talking about how those pilots are going, and the good news is they’re going very well. And so we’ll probably share some of the takeaways and some of the value that we’ve seen derived from that new product. So we’re, you know, we’re, we’re very excited, obviously, about the product that we’ve been in market with last couple years. The last couple years, but this new product is a really nice compliment to that, and so we’ll be able to share some of the results and some of the excitement about our new product. In March,
Whitney McDonald 08:37:07
you’ve been listening to the buzz a bank automation news podcast. Please follow us on LinkedIn, and as a reminder, you can rate this podcast on your platform of choice. Thank you for your time, and be sure to visit us at bankautomation news.com. For more automation news. You.
Small business owners are looking to banks to provide data, tools and analytics to help them make more informed financial decisions.
“Business owners need better tools to make better financial decisions, understand their finances and where their finances are going,” fintech Monit Chief Executive and founder Steve Dow tells Bank Automation News on this episode of “The Buzz” podcast.
Banks of every size must be equipped with the right tools and data to serve small business customers effectively, he says.
While major FIs, like $4 trillion Chase for example, are building proprietary technology like Chase Customer Insights to serve their SMB clients, smaller FIs also can compete by looking to fintech providers for the tools their SMBs are seeking, Dow said.
Boston, Mass.-based Monit, founded in 2019, provides financial institutions with cash flow analysis, forecasting, industry benchmarking and other insights that can be tapped by small businesses as demand for these solutions grows, Dow says.
The tech provider has raised $14.3 million in funding, according to Crunchbase. The tech offers integrations with banking platforms including Q2, Apiture, Banno and Narmi.
Monit will demonstrate its technology at Bank Automation Summit 2025 in Nashville, Tenn., on March 3.
Listen to this episode of “The Buzz” podcast as Dow explains how small business owners, like bankers, are using data to make financial decisions.
Register here for Bank Automation Summit 2025, taking place March 3-4 in Nashville, Tenn. View the full event agenda here.
Subscribe to The Buzz Podcast on iTunes, Spotify, Google podcasts, or download the episode.
The following is a transcript generated by AI technology that has been lightly edited but still contains errors.
Whitney McDonald 08:21:34
Hello and welcome to The Buzz a bank automation news podcast. My name is Whitney McDonald and I’m the editor of bank automation News. Today is January 27 2025 Joining me is Steve Dow, CEO and founder of FinTech Monet. He is here to discuss how Monet’s data driven solutions can help bankers and small business owners make financial decisions. Monet will demote their technology in March in Nashville at Bank automation summit 2025 visit bank automation summit.com for more information about the summit and the demo challenge. Thanks for joining us, Steve. Well,Steve Dow 08:22:07
first of all, Whitney, really appreciate you having having me on the buzz. We’re looking forward to the podcast and obviously for the for the summit in a few months. Yeah. So little background on me, maybe not your sort of typical FinTech founder, you know. So I was, I’ve been in financial services my whole career, and was at a bank prior to this, you know. And I was at the bank, I did, I did a couple of things, but one of the things I did was help to run the business banking group, and really noticed some of the issues that banks have serving small business clients, as well as some of the issues that, you know, business owners have with their bank. And that kind of led into what ultimately became, Monet got together with some other bankers, and we sort of, you know, landed around a couple of theses, around things that business owners should have access to, data and other tools that bankers should have access to, and realize we could put it all on one platform. So, you know, that’s kind of the quick background of the company. As far as you know, little background on me, you know, I’m actually have been a small business owner as well. So you know, when I was 14, I started my first small business, and I’ve had a bit of an entrepreneurial streak over the years, so starting Monit five, six years ago was kind of a perfect culmination of both My professional background, having been in financial services and banking, also having spent a lot of time as a small business owner and with Small businesses. So we like to think of ourselves as a software company by bankers, for bankers, and really helping both sides of the equation benefit both a small business owner and the bankers.
I have to know what the first business was at 14.
So I’m a lifelong tennis player. Played tennis through college, so I started a tennis racket stringing company, both for local players in my area, and then my big win was I got a contract to the the local tennis club to string all the rackets for them. So as a 14 year old, that was that was pretty cool.
Whitney McDonald 08:24:12
Nice. That’s awesome. Now, obviously not on the tennis side of things, but on the Bing technology side. Let’s hear a little bit more about Monet. Maybe we can get into some more specifics. And you know, what problem are you really solving for? What does Monet really do? What’s the need for this solution?
Steve Dow 08:24:30
Yeah, as I alluded to, when we started a company, or when we started thinking about the company, we really saw two issues. One that business owners are great at being butchers, bakers and candlestick makers, but they’re not great at running the financial side of their business. Most of them don’t have a financial background, and they see it sort of as a necessary evil of running the company right. They want to grow revenue, they want to develop their employees, accounting, finance and banking aren’t things that tend to interest them, and they can get themselves into trouble because of that, and we would see that all the time at the bank. So that was really observation number one is that business owners need better tools to make better financial decisions, understand their finances and where their finances are going. And observation number two was that as bankers, we knew we didn’t always have all the data that we needed to truly serve our business customers. Bankers fancy themselves as trusted advisors to their business customers, and they know that their business customers have other fi relationships. They might have their checking account at the Community Bank. They may have loans from some of the mega banks. They have credit cards from some of the top card issuers, and so as a banker, you can only see a small slice of that. So what we wanted to do was bring better data, better tools, better analytics, to the banker so they could serve their small business customers more effectively. And that was really the founding thesis for the company, and that’s what we’ve been building over the years. So to put a finer point on that, bonnet is a two sided platform. So we have tools for the business owner, things like cash flow forecasting, industry benchmarking and valuation insights, planning, etc, sort of a digital CFO for a small business owner, all of those tools are white labeled and made available through the bank’s digital experience, and we connect to the business owners, general ledger so QuickBooks, or whatever they’re using for accounting, so we see that full financial profile for the business owner that powers those tools like cash flow forecasting. Yeah, it also gives us insight into what that business owner is doing with other FIS, and we use that data to help the bank serve those customers more effectively. So I know we’ll probably get into this further down the line. But as an example, we can see if a business has, you know, significant deposits at another institution, or if they have other loans at another institution, and use that data for really targeted messaging and for leads for the banker to again start those conversations with their business customers.
Whitney McDonald 08:27:05
So even from a competitive standpoint, there’s a there’s a, you know, use there to compare, yes, that data.
Steve Dow 08:27:14
Yeah, exactly. So again, from the banker standpoint, you know, they know that they only have a certain share of wallet. They don’t know what that is. They don’t know if it’s 10% or 50% and we can illuminate that through the data to say, hey, you know, for this customer, they’re using, you know, B of A or whoever, in addition to you. And we can, you know, quantify that to say, hey, you know, this is the share deposits you have, and then help the bank, you know, sort of see if they can increase cross sale, increase product coverage across their small business portfolio, you know, based on that data and those analytics that we provide
Whitney McDonald 08:27:48
now in the past year plus or so, and even reflected on in Our agenda for the summit, we have been following along this idea that small businesses really are looking to their banks to be a tech provider. Provide solutions like this, offer that holistic view. I know that you mentioned before, of course, small business owners want to, you know, grow their revenue. They have other priorities, but there’s these tools that they can use. Maybe you can share a little bit more on that side of it, of kind of being these tech providers offering the solutions to SMBs.
Steve Dow 08:28:25
Yeah, I know it’s you guys are all over the trend, but it is an important trend over the last couple years, and there’s potentially a few reasons for it, but what we’re seeing is a lot of the mega banks offering their own proprietary tools. And so again, investing to court these small business customers, provide them these types of tools. And there’s different flavors of it, but we’re seeing the big banks do it. And so it’s becoming kind of table stakes, where business owners are saying, Hey, listen, you know, there’s some banks out there that are offering me these tools. You know, as a community bank, what do you have to offer? And we see ourselves as really kind of leveling the playing field for regional community banks to be able to offer the same types of tools. And we obviously think they’re a little bit better than the big banks, but that’s kind of what we’ve been seeing. And because, because business owners, as I mentioned before, they’re not financially savvy. They want these tools. They need these tools. And so if, as a community, regional bank, if you’re not going to offer it, they might go to one of these mega banks to take advantage of it.
Whitney McDonald 08:29:27
Yeah, I think that’s a great point, because the big institutions, of course, and we’ve covered what those tools are, and what they’ve launched, and what they have, being able to have those same solutions without having to move to a mega bank and kind of keep that community banking relationship is key for a lot of these SMB banking relationships, too. Now I know that you kind of started mentioning a use case or an example, but maybe you could talk us through how financial institutions are really using this technology. What can SMBs really expect out of money from their financial institutions that offer it? Sure.
Steve Dow 08:30:07
Yeah. So there’s really, really two, two use cases. Talk about one, what’s the small business owner getting it, getting out of it? And what is the bank getting out of it. We’ve we’ve already started to talk about the small business side, which is these customers want these tools, and so the when the bank offers, you know, cash flow, forecasting, financial advice, industry, benchmarking, all this kind of stuff, it’s really helpful for the business owner to see kind of where they are, where they’re tracking, to help them make those decisions. In fact, we’ve done, you know, case studies with our with our bank partners, and we find that when business, when banks offer our tools, businesses spend almost three times as much time in the digital experience because they’re looking at these tools. They’re understanding what the insights are telling them. So just from a digital engagement standpoint, it’s really increasing the bank’s primacy with their with their business customers. Now, what is the bank getting out of it? Well, there’s a tremendous amount of data that we provide. Not only provide the data, but we curate it in a way that it’s really actionable. So we have triggers and algorithms behind the scenes that are looking for opportunities for the bank. So I started talking about something before, but we can see if business owners have big deposits at other institutions. We can see if there’s, you know, they have a lot of equipment loans on their balance sheet. Or we can see who they’re using for payroll, because a lot of banks have a payroll partner, and we can see they’re doing sort of increased fee income. And then one other, you know, sort of poignant example with one of. Banks. Last year, the bank was really interested in Merchant acceptance and seeing who was using, you know, some of these non bank providers, like square for their merchant acceptance, because this bank has their own sort of partner and a pretty robust program. So we will identify all of the businesses in the portfolio that we’re using one of these sort of off prem merchant providers sent a targeted campaign to those businesses. And you know, the campaign, just to give you some metrics, had about a 50% open rate, about a 25 ish percent click through rate. So they were interested in the offer that the bank was making, and over 10% converted to the bank’s merchant provider. So huge ROI for the bank, and that’s just an example. So those are the types of campaigns and analytics that we do all the time with our bank partners to provide the real kind of hard ROI to the bank for offering this program. Great.
Whitney McDonald 08:32:30
Thank you. And yeah, ROI is always a good one to lean on, too, right? What can you get out of the technology as the bank too? Now, if you’re a financial institution that wants to tap on it, maybe you could talk me through how that works. What does the integration look like, the timeline, keeping in mind that it probably varies depending on institution size, and, you know, complications on that front, but maybe just from a big picture, how do you get up and running with Monet Sure, so the
Steve Dow 08:33:00
one thing I’ll stress before responding to that directly is we are a team of bankers, right? So our CTO is a former banker. I’m a former banker. Our customer success team is run by former bankers. So we totally get the language. We totally get the security posture, all that kind of stuff. And so as it relates to integration and getting going, a couple things are worth noting. There the technical side and then the sort of practical side. On the technical side, we have integrations with many of the major digital banking providers. And so if you’re a bank that you know, which most of them do you know, you get their digital banking through one of the sort of well known providers out there. We likely have an integration already built for those. It’s relatively straightforward because the integration is live, and we have numerous banks on the platform we can get going, you know, inside of a couple of weeks. And so those are the most straightforward. If it’s one of the larger banks or someone who’s opted to have their own sort of homegrown digital platform. The good news is, again, we’ve done many of those integrations as well. We’re pretty good at that, you know, just sort of a ballpark on that, depending on the complexity. It can be, you know, three months or maybe a little bit longer. And we would scope that with anyone. But that’s, again, we’ve done that a bunch. We’re pretty familiar with those types of integrations. So that’s the technical side, but it’s it really comes down to how the bank launches it and implements things. And so we like to say the the technology is the easy part. It’s really about educating the bank, educating the bankers on what’s coming. And that’s why we have a customer success team. So we’re not just selling software with all the engagements and partners that we have. They get assigned a customer success person who is with them for the life of the relationship. So early on, there’s a lot of work again, and we have a full playbook. So we have all the marketing collateral, all the emails, all this stuff to help activation. Of course, the bank gets to make it their own and has to go through marketing compliance and all that kind of stuff, but we want to get you 90% of the way there, so we have a playbook to do that and so and then once you get through that initial launch and sort of initial bump in engagement, our customer success team is working with you to continue to activate folks, and then start using that data to send out some of those campaigns to make sure the bankers are well equipped with the data when they’re going out and talking to their business customers, some of some of the bankers that we talk to at our bank partners, they’ll basically use our software as pre call planning. So they’ll go and they’ll look at a business, they’ll see kind of what their profile looks like. They’ll see what some of the opportunities are, and they can have a much more targeted conversation with their customers, so long answer to question, but to implement the technology tends to be the easy part, and then we’d work very closely with the bank to ensure that they’re sort of getting the most value out of the platform. Well,
Whitney McDonald 08:35:47
I think that’s what the banks like to hear, right? That you’ve got the tech side covered right, right now, of course, you’re going to be at the summit, you’re going to be part of the demo challenge, which is exciting, without giving too much away, maybe you can kind of offer our listeners a little bit of a teaser on what they can expect from your demo, a little bit about what you’re going to share, what they might take away from your specific demo at the event.
Steve Dow 08:36:14
Yeah, no, we’re super excited to have been invited and to be included in the demo. Yeah. So I think, you know, a couple things that we like to do when we demo things, obviously, show the software. Show, show some of the things that I’ve just been talking about, because it’s much more compelling to show it than just to talk about it. The other thing, and I want to get. Too far ahead of myself is we have a new product that we started piloting with a couple of banks last year. And so we will likely be talking about how those pilots are going, and the good news is they’re going very well. And so we’ll probably share some of the takeaways and some of the value that we’ve seen derived from that new product. So we’re, you know, we’re, we’re very excited, obviously, about the product that we’ve been in market with last couple years. The last couple years, but this new product is a really nice compliment to that, and so we’ll be able to share some of the results and some of the excitement about our new product. In March,
Whitney McDonald 08:37:07
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