Are you seeking a fresh perspective on managing your finances? In today's episode, we delve into the innovative world of Piere, an intelligent budgeting app redefining personal finance management. Join us as we sit down with Yuval Shuminer, Piere's visionary founder and CEO, to uncover the story behind this groundbreaking platform.
Yuval Shuminer, with her rich background as a consultant at BCG and an alumna of the Wharton School, embarked on a journey to transform personal finance through Piere. Drawing from her own experiences and the challenges of managing finances in bustling NYC, Yuval saw the need for a tool that tracks spending and provides personalized financial insights and guidance. Piere stands out with its user-friendly interface offering two-tap budgeting, automated reconciliations for shared transactions, and a unique feature to pool money for group purchases or holiday savings.
Throughout our conversation, we'll explore the core features that set Piere apart from traditional financial management tools, including its use of AI to offer tailored advice and simplify budgeting for everyday expenses and life's bigger adventures. Yuval's journey from conceptualizing Piere in her living room to being quoted in major financial publications highlights the app's impact on users seeking financial clarity and independence.
As we delve into Yuval's background, the inspiration behind Piere, and the app's key differentiators, we'll discover how Piere empowers individuals to achieve their financial goals confidently. Whether planning a trip to Burning Man or navigating the holiday season without breaking the bank, Piere offers the tools and insights to make informed financial decisions.
What does it mean to have a personal financial assistant at your fingertips? How can Piere change the way we think about and manage our money? Tune in to gain valuable insights from Yuval Shuminer and learn how Piere could be the key to unlocking your financial freedom. We invite you to share your thoughts and experiences with personal finance apps. Have they transformed the way you budget and plan for the future? Join the conversation and let us know your perspective.
[00:00:00] In today's world where personal finance management has become more complex than ever,
[00:00:07] how can we as individuals navigate the financial landscape with ease and confidence?
[00:00:12] So confusing out there.
[00:00:14] Well today on Tech Talks Daily, I'm thrilled to have the founder and CEO of a company called
[00:00:20] Pierre joining us.
[00:00:22] Now Pierre is not just a financial app, I need to give a quick shout out and a thank you to the sponsors of Tech Talks Daily this month. They are kiteworks and in a digital age where the landscape of remote work is ever expanding, the security and efficiency
[00:01:43] of your managed file transfer solution are paramount. This is where kiteworks sets a away to New York, where today's guest is Wayne Ashur has story. So a massive wall welcome to the show. Can you tell everyone this thing a little about who you are and what you do? Absolutely. So first of all, thank you so much for having me, Neil. It's really my pleasure to be on the show. My name is Yuval Shul Shubiner and I'm the CEO of Pierre.
[00:03:02] Pierre is the personal finance concierge also how your experiences in New York City maybe influence the development as an intelligent financial system. There's got to be a story there, right? Yes, there is. And it very much is a personal story, right? I built Pierre to solve a problem
[00:04:24] that I myself was facing. So I'll take you back choices were contributing to or reducing value for my life. They weren't telling me how those choices were shaping my financial future. And if they were the right choices to be made, right? And so I felt that I needed a platform that understood my particular financial situation to help me gain confidence in decisions and the decisions that I was
[00:05:42] making and gain confidence about my financial future.
[00:05:45] And so Pierre, it's that, it's that vision coming to life.
[00:06:45] in and off of your shoulders. So we really wanted the name to be a human name, right?
[00:06:51] To offer for people who may not be able to afford a real human to support them in their financial decisions, to be able to offer them that same experience through technology.
[00:06:56] And so that's really where the name came from as well.
[00:06:59] And I applaud you for doing just that because I often say on this podcast that most people some of the most foundational aspects of personal financial management, and they're still not finding the solution on that one. Right, and so when we really speak to our users who come from Mint or who come from other personal finance platforms, what we hear is that there's a few really clear reasons why they're coming over to peer and really call for differentiating ourselves in the market.
[00:08:22] The first is in regards to ease of use.
[00:08:26] Traditional financial management. comprehensive, ready-to-use budgeting in just a couple of taps. Users can get onboarded and budgeting in our platform in less than five minutes. And we do everything for them, right? From creating the budget for managing transaction categories automatically reconciling their transactions. And so one of the areas where we really differentiate is in terms of that needs of use.
[00:09:41] Now, the second is in terms of personalization.
[00:09:44] And we're hearing this is really something
[00:09:46] that stands out for our users as well, accuracy, right? Accuracy is paramount in financial management, the valuation on which everything relies. And so recognizing this, our platform handles a lot of reconciliation in your finances, you know, reconciling peer-to-peer payments, for example, automatically for the user, which is a common source of frustration and inaccuracy with other tools.
[00:11:00] And so when compared to the market, our users really tell
[00:11:03] us, Pierre, it's intuitive, it's personalized, and it's
[00:11:06] precise, and that's how we're really different, jading in
[00:11:07] the market. budget requires you to assign every single transaction to a category, see how it affects your budget. But the time that's required to set up and maintain that, it's a huge barrier for a lot of people. We've had so many users who've come and told us, you they reflect in terms of your priorities, and then recommend that budget for you that's customized for those priorities. It's a combination of your finances, if you're someone who's trying to understand and bring clarity to your financial picture, these quote unquote, shear transactions, they don't really enjoy with their finances
[00:15:00] because, you know, let's take an example of streamline the process of managing those shared expenses, reconciling them into your finances.
[00:16:21] Or in other words, making sure that your? Yeah, absolutely. Our goal, it's to do exactly that. It's to leverage AI to deliver and even more tailored and unique financial experience for every single one of our users. That really
[00:17:41] goes back down to our vision. We believe of that comes through where they put their money. That's where budgeting really comes into playing, creating a plan for their money. There's a lot of different areas of finance that this understanding your financial background, using AI can help us really surface insights
[00:19:00] to the user that they wouldn't otherwise
[00:19:02] be able to garner on their own.
[00:19:04] And so whether it's a fluctuation in income
[00:19:07] or an opportunity to save money
[00:19:08] with something else in the same way they would interact with the human. Right? And so when we think about AI, we're thinking both at kind of the deeper level, how can we use it to work with data better and to get better insights from data, but then surface that was conclusions, those insights, those data points in an incredibly intuitive and
[00:20:25] natural conversational want to upload. Now to your point about how we make sure that those money
[00:21:40] movement, they're safe and they're secure,
[00:21:42] the payment for our pools, it's still completed
[00:21:45] through a peer-to-peer platform provider, such as Venmo.
[00:21:47] So everything is as secure as your normal, And I think, wow, I can't believe how relevant what I learned in consulting and specifically, it exposes you to such an lot of those skills are transferable to a lot of the conversations that we're having out with our partners on how can we mutually bring value to our company, to their company to our users. That's really the underlying purpose of any sort of negotiation.
[00:24:22] I think the most important thing that I really took away is some strategy consulting. as you can leave us with? Yeah, I'll leave you with our vision, right? Imagine a world where every single person, independent or regardless of their background, regardless of their education level, has access to personalized financial guidance
[00:25:40] and is able to make informed financial decisions
[00:25:44] without stress, right?
[00:25:45] That's our goal.
[00:25:46] Our goal is to be able to support people Thank you enough for taking the time to come on here, share your story and your invaluable insights and how they will empower people listening anywhere in the world that's selling up to this. But before I let you go, I'm going to see if there's something we can do for you here. Now, some of the biggest names in business, VC funding and tech have either being guessed or maybe even listened to this podcast. So, is that a person that you'd love to have a
[00:27:00] private breakfast or lunch with? And he or she might just hear this, but I'd love to see if we can It is in what gives them merit and their ideas that you can learn from every single interaction that you have Every person that you have and that's really how I approach my own life and that philosophy also comes out in Pierre to to be honest Right. I believe the absolute foundation of financial management is transparency You have to know exactly where you are you're not doing yourself any favors by not knowing or by not being honest with yourself
[00:29:21] speaking to our prospective users. And so you can find how to contact us through the website as well and we would love to hear
[00:29:25] from you.
[00:29:27] And one of the things that really stood out for me in our conversation today is when we're
[00:29:30] in the workplace, date a driven decision making dominates everything now and quite rightly
[00:29:36] too.
[00:29:37] But in our personal lives, that's not always the way, certainly not with personal finance
[00:29:41] for the large part.
[00:29:42] And I love how you went out at this problem and didn't just complain about it. individuals to make better informed financial decisions. I think it shines through in every single one of P.S. features from two tap budgeting to personalised spending goals and automated reconciliations. It's clear that P.S. is not just an app, it's a financial ally designed by someone that's experienced all these problems and now wanting to guide users through financial
[00:31:01] independence and confidence no matter what your financial situation is. But I hope this