Penta – NOAH19 London

Penta – NOAH19 London


We have Marco from Penta originally found off Solaris Bank and Hamlet’s Bank actually interesting So a true serial FinTech entrepreneur probably one of the most important ones in German very happy to help. I’m thank you very much, Marco and I know that I’m standing in exactly in the way of your lunch. This is Sir. I love those those times when you actually Have to make sure that you walk through that you keep their people a little bit Entertained because this is either the people have already eaten or they will eat it They will eat soon and either way it’s it’s not the fast not the easiest thing, but what do I want to talk about? I don’t want to tell you too much about Penton what we do what I want to tell you is how we do things and Why we do things and I think it makes sense To start by saying goodbye goodbye to Deutsche Goodbye to Commerce Goodbye to spark a sir and goodbye to Fox Bank. Why do we say that? Because banks especially in the business banking in a business banking sector over the past years have neglected the small and medium-sized companies Way to vary too much when you want to build a new company, you need a bank account You need to beg you need to have your first banking service in order to start your business when you’re an existing company You need to make sure that all your needs are fulfilled around the payments around the cards around the lending etc. And What everybody looks at the the enterprises? Nobody looks at the small companies five to fifty employees but that is 95 percent of the market and that’s why we thought Let’s look at this. We don’t change the business the way business banking should be, you know to make our investors happy Nor do we changed things to make me happy and We don’t change things Just not because it’s fun to do things what we have seen is You actually have to talk to the customer and you don’t just have to take that sample size of one Which very often happens in product management? You have to go out you have to see what is the job to be done for your customer What is the customers need and this is not just a a phrase? Management budget you have to go out there. You have to start asking the customer what is what you want to achieve when you do your going to do your things and That is the way how do you should go back in order to help them? right, you want to support your customers in a way that they can actually concentrate on their business you want to make sure that They have 100% attention from you in order that they have Enough time to concentrate on their business and that’s why we look at these customers We look at our companies in a way. We don’t have at the moment a industry specific approach What we do have is an approach to make sure that We take away the pain of banking from them That is especially in Germany very very important to to look at what is the things which you have to do besides the traditional banking and what I’ve just shown there was Cards was payments was international payments that’s things which everybody else in the market offers as well. But you have to look beyond that now How do you do that? Here we come to the point if that’s why I said okay. I want to talk a little bit. What is the secret sauce? What is how you do things rather than what you do? We call it the Penta craziness My core might sound a little bit cheesy Probably this but what others work on visions missions? Values we thought let’s drill it down. Let’s bring it down to one single point. And that’s the craziness But what are we crazy about? It is extremely important that you do things with enthusiasm Not just because it’s a job not just because there’s somebody who wants to do this You have to be crazy about something and what we are crazy about is to save time Hassle and money for our customers so that they really can can look and do their job There were hassle. They want to to deal with a bang. They don’t want to go to a branch then I want to print out paper send it over to a place Where this paper most probably will be skinned and the paper will thrown away Keep things digital which are already digital and in today’s world Everything is digital already. So keep it that way What is it how we do this because we think we have to care and And I might say that happen because I’m in Penta, but it’s part of my family My family and The family of everybody else working in Penta We are 85 people now and we have a very very strong commitment to each other We care for each other as do we care for our customers. Of course, we screw up as everybody else does the only question is how do you deal with those things care for the things and Obviously and this is a long conference. So one thing cannot be missed out get shit done. Don’t talk about it get it done and I’ve seen that a number of times now when you start a company, it’s it’s very Easy coming into a stage Where the company becomes more corporate the faster you grow the bigger you get There will be processes there will be things There will be a certain politics and that’s one thing what we have sworn ourselves a Penta to not let that happen We want to stay crazy So just the three things what we do business banking we do cards team cards to give your customers as as many cards as they want as they need in order to make their business and And that is what we say beyond Banking it’s the company management Why because take care of the things which you’re part what your customers are staying wagon it–for? they Don’t need just the account, but they need things especially when there are small companies They need to think about the technology. They need to think about the online marketing They need to think about the legal parts Give them help and that’s exactly what we think with our partners. We can offer a lot of services to our small companies. I mean just to give you a couple of Just data who we are, so we’re not just we’re not just having 300 customers or something like that. We have eleven and a half thousand customers by now. They’re all businesses so that sets us apart a little bit from a couple of other challenger banks in the european space which are looking more at the Freelancer space the sole trader space. We are really looking after companies At the moment we are growing at a rate of 1,300 per month and this is I guess say a Quite a good number when you look at what you have to do in Germany For getting a customer life. We don’t have this Unfortunately, we don’t have this the level of detail and the level of digital services which you will have here in UK So the entire part of getting customers onboard faster companies Do the KYC for the employees do the employee at do the KYC for the company itself really important and we have reproduced down to a Usually day-in day-out process some take a little bit longer, but very often within the same day your account open um We just launched in Italy so as a first country where we want to expand our services to we chose Italy And we will see how this goes. We are very very bullish about it the Italian market needs some up shake in terms of banking in terms of business banking in terms of team management and we are quite happy that That within a couple of weeks. We basically could start the Italian Alfa launch and And I don’t know whether you’ve seen it. There’s end up sitting upstairs Xenu per se is a company I know the founders very very well. They they take care of actually making sure that you measure your customer satisfaction and Everybody should or must do that Engage with your customers ask them what they think about you ask them what you should be doing better and ask them to rate you and our NPS at the moment is at 62 which we think is Absolutely mind-blowing And just to finalize this we took this our campaign is now life. We have started in Berlin in a couple of Subway stations and we’re taking this Germany right now and It will appear in newspapers in some magazines, etc Thank you very much

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