Flybits with Gerti Dervishi | E230
TORONTO, ON (June 21, 2022) —
1.08: Flybits the company is rooted in R&D. For many years, the research group built a lot of intellectual property and patterns behind the technology that continues to partner with academic institutions to move forward the agenda of innovation.
03:42: There are so much data that you are regularly giving to a person who makes decisions to look for things you are replicating before they get to the conclusion, says Jason.
04:15: Gerti’s company is very heavily rooted in research, and they bring all data together, which is no small challenge.
04:40: One extremely important thing is that you have to do things in a privacy-preserving way to deliver services, says Gerti.
05:01: We do tokenization not only for extremely important privacy-preserving but also for security purposes, Gerti.
05:38: There are a lot of talks out there, and a lot of expenditures have been done in terms of building data lakes, but we don’t fully believe in data lakes, and we think that those are expensive and they expose you to more security problems, Gerti.
07:20: The expectation will create a couple of things like better alignment between the brand and the consumer in terms of the trust factor. It will also create a need for all the brands or the potential institutions to catch up with the leaders.
08:27: The one thing we do when we partner with the customer or financial institution is we almost act like an extension of their innovation team, says Gerti.
10.08: Gerti says that they have a unique way of how the data should talk to each other without being collocated. They also have several purposes for deciding the organization itself based on the different systems that may have in place.
11.20: Gerti has reached a point where experiences are more important than the products themselves.
12:23: Gerti explains some of the most popular use cases from the consumer angle.
12:30: The card is a very big driver in our business. Consumers are particularly driven to that product in terms of spend, rewards, and offers because it’s a product they probably interact most with, says Gerti.
13:24: Mortgages are a very big deal, but we see unique here is that thanks to some of the functionality that we bring in terms of how we create the different datasets, says Gerti.
14:59: With the customers that we have worked with, they have seen some significant results with us, and we have been able to expand across the board, across products, across properties, and so on, says Gerti.
17:05: We have created a set of utilities and tools very quickly and existing mobile applications that can be empowered with a recommendation system, explains Gerti.
19:11: On the channel side, one of the biggest things right now in the market is the metaverse, and it is another channel that we are going to be interacting with, says Gerti.
20:47: Some of the different sorts of business models that financial institutions could create should be around their strength, says Gerti.
21:35: Gerti would have made a direct consumer offering about tailoring their experience around themselves with their institutions.
22:22: Gerti has a B2B and B2C company with the DNA of R&D, and the biggest challenge has been trying to bring some of that sales type of extension to the company.
3 Key Points
Gerti says that they are primarily focused on financial services, including insurance and banks, but they are an experienced design and delivery platform that makes the organization’s personalization ready from data to the customer experience.
We see more and more the creation of data alliances where multiple different essentially verticals converge into a financial transaction or outcome, says Gerti.
Gerti explains how he brings a variety of products and creates a customer-centric rather than a product-centric approach where a multitude of different parts of financial services will cater to improve the overall financial status is important.
“We bring together the internal knowledge of an institution and how you bring that with external components.” – Gerti
“You started probably taking a bunch of standard datasets that you expect, so what products do they have like geographic location and all.” – Jason
“We are able to bring all the privacy-preserving and opt-in models so that the value exchange is well understood by the end consumer and the system itself.” – Gerti
“Financial institutions continue to be challenged with this area of experience design and delivery, how you can understand what experiences design are in detail.” – Gerti
“I would think that anyone looking to create a more of a value perceived value proposition with the consumer will be interested in what it is you’re working on now.” – Jason
“We always have that sort of push and pull in terms of how much to focus on sales versus the advanced thinking of creating and continuing to have the best in class technology.” – Gerti
“From a technology perspective, we are about to see some significant improvements and leaps in terms of customer experiences, which drives me.” – Gerti
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