1 00:00:00.260 --> 00:00:03.480 So Jamie, I know I, I read who you are and I've seen you around here. 2 00:00:03.580 --> 00:00:05.000 So for the people that are watching, 3 00:00:05.020 --> 00:00:07.040 go ahead and introduce yourself and the company that you're with. 4 00:00:07.070 --> 00:00:10.200 Yeah, of course. My name's Jamie. I'm one of the co-founders of Herand data. 5 00:00:10.540 --> 00:00:15.320 Herand Data helps, uh, B2B funders like the folks here to turn, uh, 6 00:00:15.320 --> 00:00:20.200 bank statements into a SMB focused cash score so they can tell from these 7 00:00:20.200 --> 00:00:23.800 bank statements the likelihood of repayment from, uh, a given company. 8 00:00:23.860 --> 00:00:25.800 So if you're getting two months of bank statements from ISOs, 9 00:00:25.980 --> 00:00:29.000 you can turn that into zero to a thousand chance they're gonna repay you in full 10 00:00:29.000 --> 00:00:29.820 and on time. 11 00:00:29.820 --> 00:00:33.680 So your company collects the data that will give these analysis, 12 00:00:33.740 --> 00:00:34.350 is that correct? 13 00:00:34.350 --> 00:00:36.800 Yeah, that's right. So you, yeah, you pass us the bank statements. 14 00:00:36.820 --> 00:00:41.400 We can pass them and do, uh, like fraud checks in about one second for, 15 00:00:41.460 --> 00:00:45.080 you know, 80, 90% of US bank statements. Um, and then we'll yeah, 16 00:00:45.080 --> 00:00:46.880 give you these additional metrics on top. So 17 00:00:46.880 --> 00:00:48.160 Where, where are you guys based out of? 18 00:00:48.370 --> 00:00:49.400 We're based out of London, 19 00:00:49.620 --> 00:00:52.960 but 90% of our business is in the us so we're working with US short term 20 00:00:52.960 --> 00:00:54.000 unsecured funders. Yeah. 21 00:00:54.340 --> 00:00:57.560 So, um, Jamie, go ahead and walk me through coming to an event like this. 22 00:00:57.760 --> 00:01:01.200 I mean, I mean, and this specific industry is very, uh, it's changing. 23 00:01:01.200 --> 00:01:04.440 There's a lot of moving parts. Uh, why is it beneficial for you? 24 00:01:04.870 --> 00:01:07.440 Yeah, so I guess just, you know, these folks are our customers, 25 00:01:07.440 --> 00:01:10.120 so actually being able to sit down with them, hear their concerns, 26 00:01:10.120 --> 00:01:12.800 hear some of the great speakers that we've heard today, uh, 27 00:01:12.800 --> 00:01:14.640 and really enjoyed the talk, uh, from Heather, 28 00:01:14.640 --> 00:01:17.640 from Meade and Patrick from Balboa, as well as a bunch of other folks, 29 00:01:17.640 --> 00:01:20.640 Patrick from Rock. Um, you know, just hearing their opinions on the industry. 30 00:01:20.730 --> 00:01:21.880 Super helpful. Uh, 31 00:01:21.880 --> 00:01:24.200 and then a chance to meet face-to-face with some of the people that we've been, 32 00:01:24.300 --> 00:01:26.000 you know, building relationships with from, 33 00:01:26.030 --> 00:01:27.960 from London remotely over the past few years. 34 00:01:28.380 --> 00:01:29.440 So walk me through, I mean, 35 00:01:29.440 --> 00:01:32.240 what trends have you seen from people in this industry, uh, 36 00:01:32.240 --> 00:01:36.320 and specifically when it comes to your area of expertise of, uh, 37 00:01:36.990 --> 00:01:39.600 have you seen any changes, any challenges? Kinda walk me through that. 38 00:01:39.630 --> 00:01:41.200 Yeah, totally. So I think, you know, 39 00:01:41.200 --> 00:01:44.080 obviously everyone's concerned about rising defaults. Um, 40 00:01:44.360 --> 00:01:45.440 everyone's concerned about, you know, 41 00:01:45.440 --> 00:01:48.920 cost of capital going off and becoming us available. Um, so I think, you know, 42 00:01:48.920 --> 00:01:51.280 what we've seen is, uh, more than ever people want, uh, 43 00:01:51.280 --> 00:01:54.520 data that's really hard to, you know, falsify. 44 00:01:54.520 --> 00:01:56.920 They want to be really on top of any, uh, 45 00:01:56.970 --> 00:02:00.360 risks of fraud and they wanna open their, you know, uh, 46 00:02:00.360 --> 00:02:03.960 funnel as widely as they can to good businesses. So that's why, you know, 47 00:02:03.960 --> 00:02:05.040 bank data is really good. 48 00:02:05.040 --> 00:02:07.840 Collecting bank statements is great cuz every single business has it. Uh, 49 00:02:07.840 --> 00:02:10.720 it's very hard to manipulate or you can catch the signs of manipulation and it 50 00:02:10.960 --> 00:02:13.760 allows you to actually build sort of automated processes. And so that's, 51 00:02:13.760 --> 00:02:15.560 you know, what we focus on helping customers 52 00:02:15.560 --> 00:02:19.280 Do. So go, go ahead and walk me through, um, if someone's interested in, 53 00:02:19.280 --> 00:02:21.640 in working with you guys and trying to, you know, 54 00:02:21.860 --> 00:02:24.760 get information for their company. How does one do that? Yeah, 55 00:02:24.760 --> 00:02:27.280 Totally. So just, you know, come, come and talk to me or email me, 56 00:02:27.300 --> 00:02:28.320 go to the HERAND data website. 57 00:02:28.360 --> 00:02:31.600 I don't know if that's something that can be put on the, uh, on, on this, uh, 58 00:02:31.600 --> 00:02:33.560 this conversation. But, um, you know, 59 00:02:33.560 --> 00:02:37.200 working with us will continue free sandbox account. You can just test us out, 60 00:02:37.200 --> 00:02:39.080 upload bank statements, um, 61 00:02:39.460 --> 00:02:42.840 and then if you wanna do a more in de detailed study to see how well we can help 62 00:02:42.840 --> 00:02:45.320 you, uh, predict default and, uh, fit into your process today, 63 00:02:45.460 --> 00:02:49.120 we can set up a back test with some historic deals that you've looked at, uh, 64 00:02:49.120 --> 00:02:50.840 and actually show you how well, uh, 65 00:02:50.840 --> 00:02:53.560 our metrics correlate to your loan outcomes so you can, you know, 66 00:02:53.560 --> 00:02:54.300 have that trust. 67 00:02:54.300 --> 00:02:55.640 So before you joined this team, 68 00:02:55.700 --> 00:02:58.840 did you ever see any other thing like this in this space? 69 00:02:59.340 --> 00:03:03.000 Uh, no. I think, uh, different bits of it people have done. So, you know, 70 00:03:03.000 --> 00:03:06.520 you have players like Aus, uh, you know, who obviously, uh, you know, 71 00:03:07.100 --> 00:03:10.280 do some kind of automated stuff. Have a team in, in India that, you know, 72 00:03:10.350 --> 00:03:13.880 pass past statements. Um, I think, you know, a lot of, uh, funders are, 73 00:03:13.880 --> 00:03:17.000 are finding the prices there are just super high, uh, you know, 74 00:03:17.020 --> 00:03:21.680 people are paying north of $10 a deal just to turn their statements from like a 75 00:03:21.730 --> 00:03:24.680 image into a js o. Uh, and again, like in times like this, 76 00:03:24.680 --> 00:03:27.120 folks just can't afford that. So, uh, we can help you, you know, 77 00:03:27.120 --> 00:03:30.840 cut that cost in half and then, uh, put this stuff on, on top of it. Um, 78 00:03:30.980 --> 00:03:31.760 but as far as I know, 79 00:03:31.760 --> 00:03:34.520 there's nothing that's helping you like really tie these cash flow metrics to 80 00:03:34.520 --> 00:03:37.280 outcomes, which is sort of like one of the core things we focus on. Oh, 81 00:03:37.280 --> 00:03:39.360 Sorry Jamie. Well thank you so much for chatting with us, brother. 82 00:03:39.360 --> 00:03:40.070 Appreciate it. 83 00:03:40.070 --> 00:03:42.680 It's a pleasure chatting with you and great to know what you're doing for this 84 00:03:42.880 --> 00:03:43.880 industry. Thank you very much. Awesome.