23 min
Ep. 221: Joe Keeley - Unleashing the Fintech Potential: How Companies Can Thrive in a Financial Technology-Driven World Count Me In®
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- Business
Dive into the world of fintech with our latest episode of the Count Me In podcast, where we discuss the transformative power of financial technology for businesses of all sizes. Join us as we chat with Joe Keeley, the CEO of Justify, a company dedicated to accelerating the fintech potential of software platforms. Discover how companies can leverage fintech tools to reduce costs, enhance revenue, and offer new services to their customers. From the giants like Amazon and Starbucks to small businesses, the opportunities are endless. Don't miss this insightful conversation that will change the way you think about the financial landscape.
Connect with Joe: https://www.linkedin.com/in/joekeeley/
Full Episode Transcript:Adam: Welcome to Count Me In. Today we have a special guest, Joe Keeley, CEO of JustiFi. Joining us to discuss the world of fintech and its impact on business. We'll explore what fintech really means?
How companies can harness its potential, and why it's important for businesses to understand the various tools available in the fintech toolbox. Joe will also share are some fascinating success stories and insights on how companies can thrive in this financial, technology-driven world. So let's get started and delve into this exciting world of fintech.
So, Joe, I want to thank you so much for coming on the podcast, today. We're really excited to have you on and we're going to be covering the topic of fintech, and that is a big buzzword in the industry right now. And I was hoping that we can maybe start with defining where you fit in the fintech world, and we'll continue on from there.
Joe: That's great, thanks for having me, Adam. And it is, I think, fintech is one of the biggest buzzwords that's out there. It's been said by leading venture capital firms that every company should be or will be a fintech company. So it's like, "Okay, well, that's a lot of pressure."
So first of all, I think, we need to step back and say, "What is that mean?" I mean, it's just an abbreviation, just flat-footed, first, it's financial technology, which can mean so many different things. But, for us, the company that I lead is called JustiFi and we exist to do just that. To accelerate the potential or the fintech potential of other software platforms.
So in that context, it turns out that a lot of companies that are out there, one of their major, or their biggest, or only economic engine is not actually selling the product, or the service, or the access, then, that is there in plain sight.
So, for example, software platforms, there are many software platforms that sell a SaaS fee, and they charge you to use it. But that is simply the Trojan horse to get funds flow. So they're making money on payments. They're making money by offering additional fintech products like embedded insurance, embedded lending, card issuing.
So when you think about interchange that, deliberately, opaque monster that no one really seems to understand. You can make money and participate on interchange, by lowering your costs and keeping your price. And you can make money on interchange by participating at being high, too, by issuing cards. So there's just a lot in there. But, ultimately, what we do as a company is help platforms with their economic engine being fintech, and we provide infrastructure and a team to help them do that.
But it's interesting for all companies, not just software companies, to think about and try to understand what are the different tools in the fintech toolbox,
and how could they be applicable to your business, big or small? Whether that be through cost reduction, or an area that's typically not talked about by finance and accounting professionals is enhancing the revenue.
Adam: Totally, and I think the other part of the problem that we run into, with every company being a fintech company is that, you and I were touching on this a little bit b
Dive into the world of fintech with our latest episode of the Count Me In podcast, where we discuss the transformative power of financial technology for businesses of all sizes. Join us as we chat with Joe Keeley, the CEO of Justify, a company dedicated to accelerating the fintech potential of software platforms. Discover how companies can leverage fintech tools to reduce costs, enhance revenue, and offer new services to their customers. From the giants like Amazon and Starbucks to small businesses, the opportunities are endless. Don't miss this insightful conversation that will change the way you think about the financial landscape.
Connect with Joe: https://www.linkedin.com/in/joekeeley/
Full Episode Transcript:Adam: Welcome to Count Me In. Today we have a special guest, Joe Keeley, CEO of JustiFi. Joining us to discuss the world of fintech and its impact on business. We'll explore what fintech really means?
How companies can harness its potential, and why it's important for businesses to understand the various tools available in the fintech toolbox. Joe will also share are some fascinating success stories and insights on how companies can thrive in this financial, technology-driven world. So let's get started and delve into this exciting world of fintech.
So, Joe, I want to thank you so much for coming on the podcast, today. We're really excited to have you on and we're going to be covering the topic of fintech, and that is a big buzzword in the industry right now. And I was hoping that we can maybe start with defining where you fit in the fintech world, and we'll continue on from there.
Joe: That's great, thanks for having me, Adam. And it is, I think, fintech is one of the biggest buzzwords that's out there. It's been said by leading venture capital firms that every company should be or will be a fintech company. So it's like, "Okay, well, that's a lot of pressure."
So first of all, I think, we need to step back and say, "What is that mean?" I mean, it's just an abbreviation, just flat-footed, first, it's financial technology, which can mean so many different things. But, for us, the company that I lead is called JustiFi and we exist to do just that. To accelerate the potential or the fintech potential of other software platforms.
So in that context, it turns out that a lot of companies that are out there, one of their major, or their biggest, or only economic engine is not actually selling the product, or the service, or the access, then, that is there in plain sight.
So, for example, software platforms, there are many software platforms that sell a SaaS fee, and they charge you to use it. But that is simply the Trojan horse to get funds flow. So they're making money on payments. They're making money by offering additional fintech products like embedded insurance, embedded lending, card issuing.
So when you think about interchange that, deliberately, opaque monster that no one really seems to understand. You can make money and participate on interchange, by lowering your costs and keeping your price. And you can make money on interchange by participating at being high, too, by issuing cards. So there's just a lot in there. But, ultimately, what we do as a company is help platforms with their economic engine being fintech, and we provide infrastructure and a team to help them do that.
But it's interesting for all companies, not just software companies, to think about and try to understand what are the different tools in the fintech toolbox,
and how could they be applicable to your business, big or small? Whether that be through cost reduction, or an area that's typically not talked about by finance and accounting professionals is enhancing the revenue.
Adam: Totally, and I think the other part of the problem that we run into, with every company being a fintech company is that, you and I were touching on this a little bit b
23 min