1 00:00:00.225 --> 00:00:00.805 Hey everyone. 2 00:00:00.805 --> 00:00:01.845 Alison Berger here. 3 00:00:01.945 --> 00:00:04.205 I'm at the B2B Finance Expo in Las Vegas, 4 00:00:04.385 --> 00:00:07.485 and now with Preti from Rapid Finance. How's it going? 5 00:00:08.035 --> 00:00:10.285 It's going great. You spoke on a panel 6 00:00:10.285 --> 00:00:11.445 earlier. How did that go? 7 00:00:11.955 --> 00:00:12.965 That went really well. 8 00:00:13.185 --> 00:00:14.725 It was a panel about AI 9 00:00:14.745 --> 00:00:16.805 and fraud all, always an interesting topic. 10 00:00:17.145 --> 00:00:19.205 Uh, it was, it was a great discussion. 11 00:00:20.145 --> 00:00:22.725 How, how, what would, what did we, sorry, 12 00:00:23.115 --> 00:00:24.405 what did we discuss about it? 13 00:00:24.405 --> 00:00:27.525 Because ai, we need to gain trust in ai 14 00:00:27.545 --> 00:00:30.485 and fraud is such a big, prevalent part in this industry. 15 00:00:30.505 --> 00:00:31.765 So how is it all tied together? 16 00:00:32.055 --> 00:00:34.405 Right. So ai, uh, you know, it's still, 17 00:00:34.405 --> 00:00:36.245 we are still scratching the surface on ai, 18 00:00:36.265 --> 00:00:39.085 but there's, so there's a lot that we are gonna learn 19 00:00:39.105 --> 00:00:40.645 and it's going to evolve over time. 20 00:00:41.625 --> 00:00:43.405 But again, you know, even the surface 21 00:00:43.435 --> 00:00:46.205 that we are scratching, there's been a lot of, uh, 22 00:00:47.085 --> 00:00:48.125 leverage from ai, 23 00:00:48.665 --> 00:00:52.445 but at the same time, the fraud stores are using ai, right? 24 00:00:52.445 --> 00:00:55.245 They're extremely smart, they are evolving, they're sharing, 25 00:00:55.905 --> 00:00:57.485 and they're collaborating a lot. 26 00:00:57.785 --> 00:01:00.325 So they're finding all of your vulnerabilities. 27 00:01:00.945 --> 00:01:04.685 And as we expand on ai, they're going to further found the, 28 00:01:05.185 --> 00:01:06.965 uh, find those vulnerabilities as well. 29 00:01:07.465 --> 00:01:08.925 Um, so that's what we talked about. 30 00:01:08.945 --> 00:01:12.645 We talked a lot about ai, how each of us are using ai, um, 31 00:01:12.905 --> 00:01:16.205 and, uh, how, you know, we need to get a little bit ahead 32 00:01:16.205 --> 00:01:17.685 of the, of the fraudsters. 33 00:01:17.865 --> 00:01:19.125 Uh, and, uh, 34 00:01:19.265 --> 00:01:22.645 and also, um, you know, how we need to form a circle 35 00:01:22.665 --> 00:01:25.485 of trust among the industry, among the industry leaders 36 00:01:25.625 --> 00:01:27.525 and collaborate more, uh, 37 00:01:27.545 --> 00:01:31.125 and share more in, uh, within the industry so we can, uh, 38 00:01:31.185 --> 00:01:32.245 combat that fraud. 39 00:01:32.585 --> 00:01:35.285 And I'm hoping this week at the B2B Expo has been 40 00:01:35.285 --> 00:01:36.525 beneficial to do just that. 41 00:01:37.385 --> 00:01:38.605 It has been fantastic. 42 00:01:38.915 --> 00:01:42.245 Yeah, it was, uh, not at all what I expected. 43 00:01:42.585 --> 00:01:45.165 Uh, when I come here, I've gone alum number of conferences. 44 00:01:45.165 --> 00:01:48.085 This is my first time in this, uh, space in this conference. 45 00:01:48.545 --> 00:01:53.205 And, uh, you know, we've had some great conversations, uh, 46 00:01:53.345 --> 00:01:56.045 you know, some really insightful conversations. 47 00:01:56.625 --> 00:01:58.885 So, you know, I'm excited for our debrief. 48 00:01:59.745 --> 00:02:01.565 I'm excited too. I wanna hear more about it, 49 00:02:01.865 --> 00:02:03.285 but let's talk a little bit about Rapid 50 00:02:03.285 --> 00:02:05.525 Finance and what you guys are doing. So, 51 00:02:05.525 --> 00:02:07.485 Rapid Finance, we're a small business lender. 52 00:02:07.825 --> 00:02:10.285 Uh, we have been doing small business lending now 53 00:02:10.285 --> 00:02:11.485 for almost 20 years. 54 00:02:11.545 --> 00:02:13.645 So coming up on our 20, uh, 55 00:02:13.745 --> 00:02:15.885 we do small business, uh, term loans. 56 00:02:16.025 --> 00:02:18.405 We do, uh, lines of credit and mca. 57 00:02:18.545 --> 00:02:19.725 We started out with mca, 58 00:02:19.785 --> 00:02:22.485 but that's a small percentage of us of our shop. 59 00:02:23.065 --> 00:02:25.085 Now, interestingly, over the years, 60 00:02:25.105 --> 00:02:28.485 we built our own technology and, uh, to do our lending 61 00:02:28.865 --> 00:02:30.325 and, uh, you know, we found 62 00:02:30.325 --> 00:02:32.525 that it works really well for ourselves. 63 00:02:32.985 --> 00:02:34.045 So in the past year 64 00:02:34.045 --> 00:02:36.925 or so, we've started taking those technology solutions 65 00:02:36.945 --> 00:02:39.125 and bringing out to the market, commercializing it 66 00:02:39.385 --> 00:02:40.645 as enterprise solutions. 67 00:02:40.945 --> 00:02:42.725 Uh, so we have three technology products. 68 00:02:42.725 --> 00:02:44.045 We have a product called Decision Year, 69 00:02:44.045 --> 00:02:45.405 which is our loan origination system. 70 00:02:45.865 --> 00:02:47.365 We have a product called Links, 71 00:02:47.365 --> 00:02:48.925 which is our fraud prevention system. 72 00:02:48.945 --> 00:02:50.245 And that's what we are promoting here, 73 00:02:50.245 --> 00:02:52.205 talking about data sharing and the trust circle. 74 00:02:52.825 --> 00:02:56.045 Um, and we have another one, which is a RegTech, uh, 75 00:02:56.045 --> 00:02:58.085 product, which is our SMB disclosure product. 76 00:02:58.625 --> 00:03:02.685 Um, it's a space that is evolving rapidly, so we've, 77 00:03:02.695 --> 00:03:04.565 we've had to adopt to it ourselves 78 00:03:04.665 --> 00:03:06.725 and we're providing that to other lenders now. 79 00:03:07.285 --> 00:03:09.165 I hope I can be a part of the trust circle now. 80 00:03:09.885 --> 00:03:12.285 Absolutely. Yeah. Everybody's welcome to join. 81 00:03:12.385 --> 00:03:14.285 As long as you know you're contributing, 82 00:03:14.785 --> 00:03:16.445 you give and you get. 83 00:03:17.165 --> 00:03:19.085 I like that mindset. Well, thank you so much 84 00:03:19.085 --> 00:03:20.325 for spending some time with me, 85 00:03:20.585 --> 00:03:23.405 and there's still more to come at the B2B Finance Expo.