Empowering Consumer & Investors Through FinTech

In this episode of The Yield, Peter Kerr, CFA is joined by Jordan Wright, Co-Founder and CEO of Atomic Financial, for a discussion about the next generation of FinTech and how it is empowering consumers and investors. Jordan and the team at Atomic are focused on having a social impact and helping people improve their financial outcomes.

Key Takeaways:

[1:20] Jordan’s entrepreneurial start and the growth story and offerings of Atomic Financial. 

[6:20] Lessons learned from the process of creating a successful new businesses. 

[15:11] Finding the right balance between remote and in-person work.  

[18:55] The competitive pressures of hiring in today’s workplace. 

[29:30] Final thoughts on becoming a billionaire from Jordan, the human.

Atomic Financial aims to improve the crucial data points that are made to determine consumer  lending decisions, especially loans that are made from a cash basis or cash flow basis.  They also offer consumers increased mobility by helping them move to financial institutions that don’t charge fees, saving consumers over $140 million, and offering direct payments to reduce interest rates on loans. 

Atomic Financial isn’t the first company that Jordan has started, and he’s learned more than a few lessons from the successes and failures of each one. He shares insights into his wisdom, from scaling in a timely manner to building a strong company culture and enjoying the struggles as well as the successes.  Even in this world of remote work, Jordan emphasizes the importance of taking time to gather physically as a team, giving back to the community, and creating opportunities for serendipity and collaboration. 

In light of the pandemic, CEOs have had to figure out what that tradeoff is between what they think intuitively will be best for the company versus what they are very clearly hearing from their workforce, which is a more flexible workplace.  For many companies, Atomic included, the perfect balance comes with remote working options combined with office space that allows their employees to collaborate and create in ways that they never have before. 

When it comes to setting goals, Atomic shoots for realistic goals that allow them to maintain their priority of people over profits.  They aim to never overextend themselves in the event that a market correction comes, and have consistently hit all of their goals as a result.  In addition, by maintaining a remote-based work environment, they are able to shift with the market in ways that benefit their employees regardless of where they are physically located.

This also means that they maintain a realistic perspective on valuations.  According to Jordan, there is nothing wrong with an $800 million valuation for a company that actually is not worth $1 billion.  Still, it doesn’t seem that valuations are slowing down any time soon.  VC investors have significant sums of money to spend, and it seems that fintech and payments are going to continue to be trending into 2022. 

You won’t want to miss out on the final words that Jordan shares with listeners. He offers insights into key growth metrics for new companies, the importance of investors at any stage in a company’s growth, the potential future for billion dollar companies in this space, and the importance of being a mission-driven company that has a greater impact in the world.  

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