ALL RIGHT MOVING ON
TODAY CINQUE TERRE SECURING
OVER 12 MILLION DOLLARS IN SEED
FUNDING TO CONNECT TO COMMUNITY
BANKS WITH EMERGING FINANCIAL
TECH COMPANIES. THE STARTUP IS
AIMING TO REDUCE RISK ENSURE
COMPLIANCE AND SPEED UP
LAUNCHES TO MARKET FOR BOTH
FINTECH COMPANIES AND BANKS
ALIKE. JOINING US NOW FOR HIS
FIRST INTERVIEW FOLLOWING THE
LAUNCH IS PETER HAZELHURST CEO
AND CO-FOUNDER AT THINK TARA
PETER GREAT TO HAVE YOU WITH US
ON THE SHOW TOO
DAY SO YOU'RE MATCHING UP
FINTECH AND BANKS, WHAT ARE
SOME OF THE PROBLEMS YOU
NOTICED IN THE ONLINE BAKING
SPACE THAT LED YOU TO LAUNCH
HIS COMPANY AND HOW IS CINQUE
TERRE SOLVING THOSE ISSUES.
>> THANKS TO OUR YET IT'S GREAT
TO BE
I GUESS THE PRINCIPAL PROBLEM
WE'VE NOTICED IN THE MARKET IS
THIS JUST A VAST NUMBER OF
FINTECHS GETTING FUNDED EVERY
MONTH. AND THE CHALLENGE
THEY'RE HAVING IS FINDING BANKS
THAT CAN TAKE THEM INTO THE
MARKET PLACE IF YOU'RE IN A
BANK OR SOMEONE LIKE THE NEXT
CHINA LOOKS LIKE
THAT THE REALITY IS YOU
ACTUALLY NEED IS A REAL
COMMUNITY BANK UNDER THE COVERS
TO PUT THOSE TRANSACTIONS ON TO
THE TO THE FED AND SUPPORT
AND WITHOUT THEM YOU CAN GET TO
MARKET AND SO WHAT WE HAVE
RIGHT NOW IS A MARKETPLACE IT'S
OUT OF BALANCE YOU'VE GOT
WAY TOO MANY FINTECHS NOT
ENOUGH BANKS AND OUR JOB AT SEA
TERROR IS TO HELP EXISTING
PROTECT BANKS. GO MORE
EFFICIENTLY AND MORE
EFFECTIVELY INTO MARKET THAT'S
WHAT WE'RE DOING WITH COASTAL
COMMUNITY BANK WHICH IS OUR
FIRST CUSTOMER. AND ALSO HELP
NET NEW COMMUNITY BANKS JOINED
THE MARKETPLACE, IT'S IT'S
REALLY INTERESTING CHALLENGE
FOR THEM BECAUSE THAT DESPERATE
CONCERNED ABOUT WHAT'S GOING TO
HAPPEN WITH CLIENTS REGULATORY
SUPPORT SO THINK OF IT LIKE
THIS IF YOUR COMMUNITY BANK IN
MASON
CITY, IOWA. ONE OF THE
CHALLENGES OF WORKING THAT UP
IN TECH COME THAT BY SOME FOLKS
FROM STANFORD OR MIT IS HOW TO
KEEP TRACK OF WHAT THEY'RE
DOING HOW DO YOU MAKE SURE THEY
DO THE
RIGHT THING OUT TO PUTTING
TERRORIST TO MONITOR AND TO
MANAGE THAT RISK ON BEHALF OF
THE BANK AND HELP THEM FEEL
COMFORTABLE THAT THEY CAN ON
BOTH THEM SUCCESSFULLY AND
BRING THEM
TO MARKET.
>> SO PETER YOU WALK ME THROUGH
AN EXAMPLE IF YOU'RE A
COMMUNITY BANK WHO HAS DABBLED
IN FINTECH BEFORE ARE YOU
LOOKING TO GET INTO
THIS SPACE. HOW MIGHT YOU GO
ABOUT ON YOUR PLATFORM FINDING
A MATCH WHAT IS THAT PROCESS
LIKE FOR THOSE COMMUNITY BANKS.
>> WHAT'S REALLY INTERESTING SO
RIGHT JUST BECAUSE OF TODAY'S
LAUNCH AN ALL OF THE
ANNOUNCEMENTS TODAY YOU KNOW
HISTORY IN THE THAT I HAD
WORKING IN TECH
FOR AGES. WE'VE ALREADY SEEN A
BUNCH OF INBOUNDS FROM 1015 YOU
CAN TEXT SAYING, HEY WE'RE
REALLY CLOSE TO LAUNCHING BUT
WE CAN'T FIND A BANK TO BANK
WITH US AND SO AS A RESULT OUR
JOB
IS TOUGH AND THANKS THE READY
TO TAKE A MEASURED AMOUNT OF
RISK TO GO TO MARKET PARTNER
WITH US AND PART OF THAT THE
BANKS THAT'S GOING TO BE A
BUNCH OF BANKS THAT HAVE
DIFFERENCE OF THE THRESHOLD FOR
RISK SOME ACTION, SOME BANKS
ARE QUITE COMFORTABLE DOING
DEPOSITS THAT MAYBE NOT
EVERYONE WANTS
TO LOANS SOME BANKS WILL BE
REALLY COMFORTABLE WITH CRYPTO
BUT MANY
WON'T BE. AFTER THE TECH
COMMUNITY IS CHANGING
DRAMATICALLY AND YOU'RE SEEING
ALL TYPES OF DIFFERENT. SO IT'S
A COMPANY SHOWING UP. AND IT'S
A BIT OF A MATCHMAKING EXERCISE
TO FIGURE OUT WHICH BANQUETS
WITH WHICH TO DETECT THE BEST.
>> PETER I IMAGINE SOME OF THE
COMMUNITY BANKS WHO WANT TO
LEVEL UP
THEIR TAKE TECH CAPABILITIES
MIGHT BE IN LOWER INCOME AREAS
FOR EXAMPLE, HOW DOES YOUR
PLATFORM
HELPED TO CREATE A MORE
EQUITABLE SPACE WHEN IT COMES
TO BANKING IT ACCESS TO
BANKING, ESPECIALLY IN A TIME
WHERE WE'RE SEEING ECONOMIC
CHALLENGES ACROSS THE U.S..
>> ONE OF THE THINGS YOU'LL
NOTICE ABOUT MOST IS THAT
COMMUNITY BANKS THAT DOING CAN
TECH BANKING TODAY IS THEY TEND
TO ACTUALLY BE IN. MARKETS
WHERE YOU WOULD NOT EXPECT THEM
TO BE FOUND. THEY'RE IN IOWA IN
THE MIDWEST AND OTHER PLACES
AND THAT DOING SUCCESSFULLY
CREATING A NEW FRANCHISE TO THE
BANK'S WHEREAS ONLY THEY'RE
ONLY PLAN FOR GROWTH WOULD BE
TO ACTUALLY GO BY FRANK NEXT
DOOR BRANCH FROM SOME OF THE
BANK CLOSE BY.
SO ONE OF THE THINGS THAT'S
UNIQUE ABOUT THE CAN TECH
MARKET PLACE'S BRANDS LIKE
CHIME IN OTHERS. CREATING
NATIONAL BRAND SPENDING THEIR
INVESTOR MONEY TO HELP
FRANCHISES AND CHAMPIONS
CHAMPIONSHIP, SO THAT CUSTOMERS
AND TURNED CONNECT THEM UP TO
COMMUNITY BANKS THAT ARE
OTHERWISE UNABLE TO GROW
AND AS A RESULT THE NEW STOPS
THE DEPOSITS BEING FUNNELED
INTO THE
LOCAL MARKET THAT'S AND THAT'S
PARTICULARLY INTERESTING IF YOU
SORT OF THINK ABOUT WHAT'S
GOING TO HAPPEN POST-COVID IN
VACCINES. LET'S CALL IT IN THE
SPRING AND THE SUMMER
BECAUSE GOING HAVE A WHOLE
BUNCH OF COMMUNITY BANKS THAT
ARE GOING TO NEED DEPOSITS IN
ORDER TO TURN AROUND UNTIL THEN
TO THE
NAIL SALONS STYLISTS THE FOLKS
THAT ARE DOING DAYCARES AND SO
ON AND MOST OF THAT LOCAL
LENDING HAPPENS FROM THE
COMMUNITY BANKS. THE FOLKS TO
BUY THAT T-SHIRTS TO PUT ON THE
KIDS
TO PLAY FOOTBALL AND OUR 2
NUTTY THERE IS TO HELP THEM
GROW AND TO GROW SAFELY BY
DOING WHAT THEY DO BEST WHICH
IS LENDING TO THEIR
COMMUNITIES.
>> PETER SEEMS LIKE A VERY
APPROPRIATE TIME TO LAUNCH THIS
KIND OF COMPANY WHY WASN'T THAT
THAT PARTNERSHIP
OR THIS CONNECTION BETWEEN
COMMUNITY BANKS AND FINTECH WHY
DID THAT YOU KNOW PRIOR TO THE
PANDEMIC AND WAS WERE THERE
SPECIFICATIONS ABOUT THAT
PANDEMIC ENVIRONMENTS THAT
LEDGE YOU TO IN SOME WAYS
LAUNCH THIS COMPANY.
>> I'M NOT SURE THAT IT WAS
PARTICULARLY ABOUT THE PANDEMIC
THAT CREDIT THAT UP KENNEDY I
THINK IT WAS AN
INSIGHT THAT ME AND MY
CO-FOUNDERS HAD AND ALSO WORK
KING WITH OUR INVESTORS TO LOOK
AT WHERE CEOP UNITY TO CREATE
REAL DIFFERENCE
IN VALUE AND A FOCUS HAS ALWAYS
BEEN ABOUT HOW CAN YOU HELP THE
COMMUNITY BANKS SUCCEED,
WHICH IS A LITTLE BIT DIFFERENT
THAN IN THE PAST FOLKS SAYING
I'M GOING TO SET UP A FEW
LIGHTS WHICH CAN TEXT TO BUILD
SOME TECHNOLOGY.
MODEL WHICH WE WORK WITH ON THE
BACKSIDE IS REALLY ALIGNED TO
THEIR SUCCESS. IT'S A 5050 REP
SHIP THEY WIN
WE WIN, EVERYBODY WENT WELL AND
THE FAST WE GET TO MARKET THE
LESS MONEY IS BEING WASTED BY
THE
FINTECH ON BUILDING
PARTNERSHIPS WITH ALL DIFFERENT
SORTS OF ANDERS AND THEY CAN
FOCUS ON GOING TO MARKET
SOONER. SO I GUESS THE SIMPLE
ANSWER IS.
OPPORTUNITY IN THE MARKET I SAW
WHEN I WAS A TROOPER WAY WE DID
A PARTNERSHIP WITH GREED UP AND
BUILT MONEY
THAT WAY AND THERE'S JUST NOT
ENOUGH GRAY DUCT UP THERE SO IT
SEEMED LIKE A NATURAL THING TO