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

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