KOHO with Daniel Eberhard (CEO) | E51

Summary: Jason Pereira, award-winning financial planner, university lecturer, writer, sits with Daniel Eberhard, CEO of KOHO. KOHO is a company that develops tech solutions to make the financial sphere more user friendly. Show Notes: ● :30 - Introduction of KOHO and CEO Daniel Eberhard ● 1:30 - KOHO is a company focused on creating financial tools that make the banking experience more user friendly. The tools essentially sit on top of the secure bank’s back-end allowing Koho to focus on the UX. ● 2:00 - The set-up of KOHO allows the platform to be more client focused ● 2:30 - Daniel was inspired by the archaic banking structure of Canada ● 4:45 - Banks are disinsentified to provide a better, cheaper service and platform ● 6:15 - The two things banks must have to be successful ● 8:16 - KOHO user experience from discovery to use ● 10:00 - How KOHO gives users a rich insights into their financials ● 11:34 - The tools also help you set financial goals. The create a spendable balance alerting you on how much you have. It is essentially individuals future cash flow - something not generally calculated for individuals. ● 12:52 - KOHO is also increasing the amount of money saved by Canadians. ● 16:00 - KOHO establishes trust by ensuring they do not sell people products they don’t need. ● 19:44 - The bank on the backend of KOHO is People’s Trust ● 20:00 - How Canadian regulation could affect banking and the KOHO platform ● 22:20 - Future features offered by KOHO ● 26:32 - There are certain things that if you start consuming them your lifestyle dictates your need to stay in a certain job ● 29:10 - The major obstacle was developing the relationships with the banks ● 30:30 - How KOHO is moving the needle for Canadians ● 31:07 - Daniel wished Canadians would hold their banks to a higher standard 3 Key Points: 1. KOHO is a company that is changing the user experience for the banking space through technology. 2. KOHO focuses on improving the user experience while a bank focuses on the back end. 3. KOHO is making it easier for people to track their finances and create financial goals. Tweetable Quotes: - “KOHO is what's called a neo-bank what that means is we sit on-top of banking infrastructure and then we create everything else.” –Daniel - “How do we listen really well to the customers and how do we move really fast. These are the two values that create better value for our users.” – Daniel - “The money sits with People’s Trust and we [KOHO] sit on top of that infrastructure.” –Daniel Resources Mentioned: ● The Fintech Impact ● Itunes to access the podcast ● Refer to Jason Pereira ́s Linkedin for Information about the Fintech event ● Woodgate Financial Hosted on Acast. See acast.com/privacy for more information.