SAN FRANCISCO--Last September 9, OLC attended a fireside chat with Stephane Dubois at the Startup house in San Francisco.
This chat was moderated by Vincent Turner
V: You have business and consumer customers how do you bridge the gap?
S: We started building SaaS and companies started coming to us. We ended up getting every flavor of financial customer from corporate to startup. People just wanted the data. It didn’t matter where they came from.
V: What kind of stuff do you seeing businesses building between the two sides with the APIs you offer?
S: How do you make things easier for the developer. We had to think of our customers as the developer to make things easier for them.
A few years ago these young startups started consuming our APIs. We had some early customers who've been around for years but have gone through different business models but still have all their market data until they shape into something workable.
We sell our services to large and small companies each one will have their own value. We started selling by usage. If you're a small company you don't need to spend a lot.
Until we realized this didn't work out for startups so we started offering them a massive discount so they can start building their business. As they start growing we can charge them more.
V: A lot of stuff now is around access to data. When does it turn into more tools or things to help people?
S: As the level of maturity and growth increases companies will be more willing to let access to this information go and then metric companies start popping up to service this data.
V: Things are shifting to mobile and design is financial services going that way?
S: A lot of financial services is related to the customer. You'd have to innovate that with a very powerful user interface.
You'd have to have an all around great user friendly product for it to catch on.
If it takes too long to sign up to something you've already lost the millennials who are mobile friendly.
V: Why is your company based here; in San Francisco?
S: I was already living here [laughs]. There are different vibes between London and New York. In San Francisco you're going to have a lot of disruption.
While there is a lot of fintech in NY and London they are based on the services and not as much the technology.
There is also a lot more access to capital in San Francisco. The whole startup attitude doesn't exist as much in NY and London. It's not bad but may not be what people are looking for.