CEO and founder
In two sentences or less, describe your product or service.
Moneytree is a financial data aggregation and portability platform that allows individuals to have a full view of their financial position across all products, including credit cards, bank accounts, digital money, home loans and superannuation.
Users can categorise their transactions and securely share aspects of their financial records with trusted third parties to do such things as prepare their taxes, submit their expenses, analyse their investment portfolio, develop a life plan or apply for loans.
What has been the company's biggest milestone to date?
One of our biggest early milestones as a company was our Series A fundraising round in 2015. We gained the support of Salesforce and the three mega banks of Japan, the first time all three mega banks invested in one startup at the same time. It was a historic outcome. Expanding internationally to the Australian market in mid-2017 is another very significant milestone, in no small part because I am from Melbourne. It’s awesome to be able to bring something we built in Japan, which is a really huge market, to Australia.
What’s your most useful advice for having a productive day?
Email should be for communicating with the outside world, not a universal task list. Ever had one of those soul-crushing days where an avalanche of email keeps arriving? I like to make things more manageable by unsubscribing from everything that is sent automatically. This includes newsletters, software notifications and the like. These days, most CRMs and business productivity software suites provide an inbox or activity view where you can see what is going on. As for tracking tasks, I use Google Keep because of its simplicity and fresh approach.
Where do you see the company in 12 months?
In Japan, open banking commenced on the 1st of June this year and in Australia an equivalent framework will begin to be implemented from next year. In twelve months from now I see us knee deep in bank API integration work. This really is day one for an entirely new era in fintech and finance. Every day is exciting!
Which book has had the most influence on your professional mindset?
Different books, at different times, served to broaden my perspective and gave me a cheat sheet for navigating the business world. When I founded my first company at 23, my go-to books were Getting to Yes (Fisher and Ury, 1981) the classic negotiation manual, and How to Win Friends and Influence People (Carnegie 1936) which taught me the fundamentals of building and leveraging great working relationships. More recently, at Moneytree we have been talking a lot about Measure What Matters (Doerr, 2017). This book is an instant classic thanks to its essential explanation of OKRs (Objectives and Key Results), a framework for successfully leading decentralised and self-directing organisations from quarter to quarter.
The fintechFIVE is a series of five questions intended to shed light on innovative companies from Australia and around the world. Every Thursday we ask the same five questions to a representative from a different fintech company – check out the most recent fintechFIVEs here.