So Jamie, I know I, I read who you are and I've seen you around here.
So for the people that are watching,
go ahead and introduce yourself and the company that you're with.
Yeah, of course. My name's Jamie. I'm one of the co-founders of Herand data.
Herand Data helps, uh, B2B funders like the folks here to turn, uh,
bank statements into a SMB focused cash score so they can tell from these
bank statements the likelihood of repayment from, uh, a given company.
So if you're getting two months of bank statements from ISOs,
you can turn that into zero to a thousand chance they're gonna repay you in full
and on time.
So your company collects the data that will give these analysis,
is that correct?
Yeah, that's right. So you, yeah, you pass us the bank statements.
We can pass them and do, uh, like fraud checks in about one second for,
you know, 80, 90% of US bank statements. Um, and then we'll yeah,
give you these additional metrics on top. So
Where, where are you guys based out of?
We're based out of London,
but 90% of our business is in the us so we're working with US short term
unsecured funders. Yeah.
So, um, Jamie, go ahead and walk me through coming to an event like this.
I mean, I mean, and this specific industry is very, uh, it's changing.
There's a lot of moving parts. Uh, why is it beneficial for you?
Yeah, so I guess just, you know, these folks are our customers,
so actually being able to sit down with them, hear their concerns,
hear some of the great speakers that we've heard today, uh,
and really enjoyed the talk, uh, from Heather,
from Meade and Patrick from Balboa, as well as a bunch of other folks,
Patrick from Rock. Um, you know, just hearing their opinions on the industry.
Super helpful. Uh,
and then a chance to meet face-to-face with some of the people that we've been,
you know, building relationships with from,
from London remotely over the past few years.
So walk me through, I mean,
what trends have you seen from people in this industry, uh,
and specifically when it comes to your area of expertise of, uh,
have you seen any changes, any challenges? Kinda walk me through that.
Yeah, totally. So I think, you know,
obviously everyone's concerned about rising defaults. Um,
everyone's concerned about, you know,
cost of capital going off and becoming us available. Um, so I think, you know,
what we've seen is, uh, more than ever people want, uh,
data that's really hard to, you know, falsify.
They want to be really on top of any, uh,
risks of fraud and they wanna open their, you know, uh,
funnel as widely as they can to good businesses. So that's why, you know,
bank data is really good.
Collecting bank statements is great cuz every single business has it. Uh,
it's very hard to manipulate or you can catch the signs of manipulation and it
allows you to actually build sort of automated processes. And so that's,
you know, what we focus on helping customers
Do. So go, go ahead and walk me through, um, if someone's interested in,
in working with you guys and trying to, you know,
get information for their company. How does one do that? Yeah,
Totally. So just, you know, come, come and talk to me or email me,
go to the HERAND data website.
I don't know if that's something that can be put on the, uh, on, on this, uh,
this conversation. But, um, you know,
working with us will continue free sandbox account. You can just test us out,
upload bank statements, um,
and then if you wanna do a more in de detailed study to see how well we can help
you, uh, predict default and, uh, fit into your process today,
we can set up a back test with some historic deals that you've looked at, uh,
and actually show you how well, uh,
our metrics correlate to your loan outcomes so you can, you know,
have that trust.
So before you joined this team,
did you ever see any other thing like this in this space?
Uh, no. I think, uh, different bits of it people have done. So, you know,
you have players like Aus, uh, you know, who obviously, uh, you know,
do some kind of automated stuff. Have a team in, in India that, you know,
pass past statements. Um, I think, you know, a lot of, uh, funders are,
are finding the prices there are just super high, uh, you know,
people are paying north of $10 a deal just to turn their statements from like a
image into a js o. Uh, and again, like in times like this,
folks just can't afford that. So, uh, we can help you, you know,
cut that cost in half and then, uh, put this stuff on, on top of it. Um,
but as far as I know,
there's nothing that's helping you like really tie these cash flow metrics to
outcomes, which is sort of like one of the core things we focus on. Oh,
Sorry Jamie. Well thank you so much for chatting with us, brother.
Appreciate it.
It's a pleasure chatting with you and great to know what you're doing for this
industry. Thank you very much. Awesome.