Why would it be so difficult for SMEs and startups to get their banking needs met in Hong Kong, “the freest economy in the world”? David explains why and introduces us to his solution to this problem. Neat is a Hong Kong fintech company he co-founded after leaving the banking industry to become an entrepreneur.
In today’s episode you’ll learn:
- Why David left banking to become a fintech entrepreneur
- Why it’s difficult for SMEs and startups to get their banking needs met by Hong Kong banks
- About Neat
- Neat’s revenue model
- Why Neat accounts are as secure as bank accounts
- David’s candid words of wisdom for aspiring entrepreneurs
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What was your biggest insight from this week’s episode? Let Jay know in the comments or on Twitter: @jaykimmer.
LINKS FROM TODAY’S EPISODE
- Read the full transcript from David’s interview
- Find David on LinkedIn
- Neat
DETAILED SHOW NOTES
- (0:59) David’s self-introduction
- (2:42) David explains why he left the banking industry to co-found Neat, a fintech company
- (5:33) Neat — what’s behind the name
- (6:07) David gives in overview of Neat
- (6:43) David explains the impact of banking regulations on Hong Kong’s SMEs and startups.
- (10:33) David explains why Neat is a not a bank
- (13:03) Neat’s business model and value proposition for SMEs and startups
- (18:28) Jay and David expand on Neat’s ability to access the company registry and eliminate paper-chasing chores for clients
- (19:37) The Neat user experience
- (22:10) David touches on Neat’s integration with gateway payment processors
- (23:28) David explains where money in Neat accounts is held
- (25:43) Why one might want a personal Neat account
- (27:49) Neat’s revenue model
- (29:00) David’s plans for Neat in the coming months
- (32:05) David’s advice for aspiring entrepreneurs
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