Bambu with Ned Phillips | E141

In this 141st episode of Fintech Impact, Jason Pereira, award-winning financial planner, university lecturer, writer, and host interviews Ned Phillips, Founder and CEO of Bambu. Bambu is a digital platform that helps businesses deploy robo advisor solutions quickly, fast, and customized. Episode Highlights: ● 00:56 – Ned Phillips introduces himself and Bambu. ● 02:48 – What led to the creation of Bambu? ● 04:04 – What was it about robo advisors that they gravitated towards? ● 05:50 – What problems did they run into with Bambu? ● 09:15 – When customers want Bambu to build them a robo advisor, what does that experience look like? ● 12:47 – What have been the responses to their robo advisors? ● 16:11 – How far down market in terms of client size or enterprise does Ned see this going? ● 17:48 – What does the pricing look like? ● 22:08 – What has demand been looking like? ● 26:04 – What would Ned Phillips change in his business or industry? ● 27:17 – What have been the biggest challenges Ned has faced? ● 29:32 – What keeps Ned Phillips excited each day about his work? 3 Key Points 1. If you build what everybody wants it becomes a random bunch of codes which isn’t a product. If you build a product and no one buys it, you are out of business. 2. Bambu built up their initial customer base by finding out what problems businesses had that they could solve for them. 3. Bambu can typically have you up and running with a robo advisor in 4-8 weeks if they are willing to go with their fixed version with the front end customized to the client. Tweetable Quotes: ● “We design, build, and integrate robo advisors. So the simplest way I can describe it is that financial institutions say to us, ‘I want a betterment. I want a wealth front. I want my own robo-advisor. We are a pure technology company.” – Ned Phillips ● “We are technology guys, 4-years-old. Yes, we are based in Singapore. But we have been pretty global. We have been really lucky. We have clients in the U.S. We have clients in Europe, and across Asia and in the Middle East.” – Ned Phillips ● “We have built over 20 financial institutions now. Some of the biggest Franklin, Standard Chartered, HSBC.” – Ned Phillips Resources Mentioned: ● Facebook – Jason Pereira’s Facebook ● LinkedIn – Jason Pereira’s LinkedIn ● FintechImpact.co – Website for Fintech Impact ● JasonPereira.ca – Sign up for Jason Pereira’s newsletter ● Linkedin – Ned Phillips’s Linkedin ● bambu.co – Website for Bambu Hosted on Acast. See acast.com/privacy for more information.