066 - Audrey Hall: From Cash to Fintech - Brightwell

The Southeast Asian region’s internet economy has hit a key milestone, reaching $100 billion in market capitalization for the first time in 2019. This represents a 39% increase from the previous year. Money is moving in and out of this region in ways never before seen.

Audrey Hall is SVP, Product and Marketing at Brightwell, one of Atlanta’s fastest growing fintech companies

Audrey and Emily talked about Audrey’s mission at Brightwell, a payments technology company whose fintech solutions serve seafarers on the world’s major cruise Iines including Carnival, Norwegian, and more. We talked about the war on cash in the US and abroad, combatting fraud, and how Brightwell approaches educating users who are mostly unbanked or underbanked. Plus, the relationship between product and marketing.

Audrey Hall

is SVP of Product and Marketing at Brightwell, where she is focused on building financial products that transform global workers’ lives. Previously, Audrey served as VP of Client Strategy at 352, Inc.

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“Our purpose really is to help these underbanked, underserved communities who deserve the same access to the tools that we all have. That they are included in this financial world where You can have your dreams be possible by savings, by thinking about budgeting.” - Audrey Hall

TOPICS & TIMESTAMPS

1:39 Meet Emily’s guest, Audrey Hall

2:05: What does Brightwell do? 

2:34: Brightwell is a fintech company out of Atlanta. They create financial technology products that serve the specific needs of migrant workers. Strong focus in the maritime industry. They help people send money home to their families and join the digital economy. Digital and financial inclusion.

“When we looked at payments in the cruise industry, it was kind of archaic.”

3:24: On-ship payroll payments are often done in cash. It’s risky and not cost-efficient. Brightwell offers a solution and serves people from 140 different countries around the world. 

4:50: Brightwell’s clients include seafarers on cruise lines such as Norwegian, Carnival, Princess, Aida, Costa and more. 

“The digital economy at large is something we’ve come to expect in the Western world.” - Audrey Hall

5:50: 2 billion people today are unbanked globally

6:05: These users offer tremendous opportunities for financial and corporate expansion, but their needs are unique and are impacted by language barriers, B2C interactions, education levels, and more

6:50: Build trust and empathy with various user groups

7:55: How do ATMs play a part in all this? ATM use is complicated and sometimes risky.

8:50: People are drawn to hard currency and the physicality of cash. Brightwell tries to help users understand why digital funds can be safer for them and their families, while respecting the ways that cash is still important for certain use cases and cultures.

9:25: Countries like Sweden are going cashless. 30% of Americans don’t use any cash in a given week.

9:40: Cash vs Digital. What are the pros and cons of each? How do you manage risk?

11:00: We’re more hesitant to offer up personal information (especially PII) these days. Companies like Brightwell work hard to ensure digital users are protected but fraud is rampant.

12:30: Real talk: Fraud can impact user experience and brand reputation. How do you deal with that? 

“It’s something we will continue to iterate on and find new ways to educate users on.” “Yeah they are going to blame us, but it’s our responsibility to take care of them and make their experience the best it can be.” - Audrey Hall

14:34: Companies should be the guide, not the hero. Base your marketing and messaging around this guiding principle. It’s all about servicing the person who is using your product. 

Each person who works at Brightwell is bought into their core principle and aims to put the user experience first.

15:05: Brightwell’s core principle: user first. 

16:50: What is the difference between unbanked and underbanked? In the U.S. there are 55 million unbanked individuals

17:37: People depend on cash and keeping those systems in place is equally important as educating them on digital banking services. 

18:19: How has Brightwell transformed itself in the last few years? Adopting more of a startup mindset.

19:20: Product testing: Brightwell works to understand the language and flow that would resonate most with clients based on their one-on-one user experience testing on prototypes (e.g. payment app Brightwell Navigator on Android and iOS)

19:50: “Focus groups are not your friend!”

21:17: Your product and marketing departments should be in constant communication. It will help you find the “why” behind your products. Collaboration is key. 

22:00: What’s next for Brightwell and Audrey?

23:23: Brightwell is launching in the Philippines this year with a physical location.

26:00: Each year Brightwell is iterating and growing. Everyone there is committed to the purpose of the organization.

Audrey’s podcast recommendations: Reply All podcast episode 102 “Long Distance” and 103 “Long Distance, Part II.” It focuses on fraudsters like tech support scams based, suspicious callers, etc, and takes you behind the scenes as they track down an Indian call center that is scamming people. 

Connect with Audrey Hall on LinkedIn and Twitter: @ansianko

Learn more about Brightwell and follow @BrightwellApp on social.

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050 - TD Ameritrade Alexa Skills: Brevity, Levity, and Familiarity - Dani Fava

Voice is a powerful medium for a relationship-centric business like wealth management. In fact, one of the Flash Briefings that Dani Fava launched, TD Ameritrade for Advisors, just won the Custodians: Thought Leadership category of the 2019 Wealth Management Industry Awards. This daily briefing provides RIAs and financial advisors with tips on running their business and helping clients invest.

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TD Ameritrade for Advisors is the award-winning Flash Briefing Dani Fava launched for RIAs and financial advisors (Institutional)

Hear about Dani's experience launching Alexa Flash Briefing skills for TD Ameritrade. With apps across voice assistants like Alexa and Google on both on the institutional and brokerage (retail) sides of their business, TD Ameritrade is a leader in voice for the banking category. And as Director of Innovation, Dani is leading that charge!

Dani Fava, Director, Institutional Innovation, TD Ameritrade

Plus Dani shared one financial advisor’s emotionally moving story about how the TD Ameritrade Alexa skill empowered a longtime client to once again feel control over her finances through voice.

TD Ameritrade Alexa Skill features market updates, account summary, and place a trade

Powerful Banking and Trading Skill: TD Ameritrade is the first company ever to create an Alexa Skill where you can place trades with just your voice.

You can enable the skill and get started by saying, “Alexa, ask TD Ameritrade…”

Stay updated on the markets, and after you link your TD Ameritrade account, get updates on your balances, positions, and more.The TD Ameritrade skill provides quotes for all U.S.-traded stocks, ETFs, mutual funds, and major U.S. indices, which amounts to over 75,000 securities.

Latest news: TD Ameritrade announced that it has launched a new Google Assistant Action to complement their existing Alexa skill.

Starting today, once authenticated, TD Ameritrade clients can simply ask their Assistant by saying ‘Hey Google, check my TD Ameritrade portfolio’ to gain insight into their current holdings, hands-free,” according to the announcement.

The new Action offers a number of features such as:

• Ask for a market update

• Find out how a sector (such as Technology) is doing

• Get your account balance

• Find out how your portfolio is performing

TD Ameritrade launched a new Google Action in September 2019

Get in Touch with Dani Fava:

Twitter: @Dani_FavaTDA

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018 - What You Pay - How to Be Value Driven

Are you value conscious, or paying too much? From business to relationships to everyday life, seeking true value can save you in big ways.

Two podcasts mentioned:

1) Masters in Business

It's not what you buy, it's what you pay.

-Howard Marks

Heard on Barry Ritholtz's podcast, Masters in Business (some really smart guests on this show, you should listen. E.g there is another solid episode with Barbara Kahn about the retail revolution.)

About MiB: "Bloomberg Opinion columnist Barry Ritholtz interviews Howard Marks, the CFA and co-chairman of Oaktree Capital Management, in his third appearance on Masters in Business. An author as well as an investor, Marks most recently wrote “Mastering the Market Cycle: Getting the Odds on Your Side,” which was released this month." Howard Marks interview here.

2. Arthur Laffer on Storybrand podcast (flat tax, LET’S GO):

"Donald Miller talks with Art Laffer, a prominent American economist whose ideas have shaped policy from the Reagan administration through today."

Other Ideas

• You are the average of the five people you spend the most time with. (Not my idea, I just like it.)

This episode is really all common sense but you know what they say about that.

Finally, hackneyed but my very favorite - and AGAIN financial advice that applies to the idea of value and life in general:

Be fearful when others are greedy, and greedy when others are fearful.

-Warren Buffett

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007 - Three Random Ideas to Inspire Action

Three ideas to start your month with some thinking and hopefully some action:

1. Why avoid the news (via @jasonfried on the Tim Ferriss Show).
2. Nearly half of working age families in the U.S. have nothing saved for retirement. #yikes
3. Billion dollar ideas that you could invent via @allison_pons.

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