2869: Transforming Transactions: Kani Payments' Approach to Financial Challenges

[00:00:00] Have you ever pondered that intricate dance of numbers and data that just swirls behind

[00:00:07] the transactions that we all perform daily? Well, in an era where digital payments are

[00:00:13] not just a convenience but a lifeline, the significance of efficiently managing the vast

[00:00:19] sea of data cannot be overstated. And today I have the privilege of hosting Aaron Holmes,

[00:00:26] CEO of Carney Payments, and we're going to attempt to simplify the complexities of transaction,

[00:00:33] reconciliation and reporting. And yes, it's not the most rock and roll of subjects but

[00:00:40] it is possibly one of the most crucial elements inside of any business. And since its inception

[00:00:46] in Newcastle here in the UK back in 2018, Carney Payments have picked up some pretty

[00:00:52] big accolades such as Europe's leading financial services or payment startup and inclusion in

[00:00:59] the prestigious programmes such as Fintech Power 50 and the Mastercard Start Path Global,

[00:01:06] not to mention the FIS Fintech Accelerator. But the company's trajectory has been nothing

[00:01:12] short of remarkable. But I want to learn more about that story, what drives a company

[00:01:17] to achieve such success, how they're expanding beyond those big accolades in Europe and pushing

[00:01:23] into North America now. And more importantly, how does it navigate the challenges that come

[00:01:28] with scaling globally while maintaining the integrity of millions of transactions?

[00:01:34] Now before I get today's guests on, it's time for me to mention the sponsors of

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[00:02:20] sophistication. But now it's time to get today's guests on. So buckle up and hold on tight as I beam

[00:02:27] your ears all the way to Newcastle England where we're going to learn more about the

[00:02:30] story behind Carney Payments, dive into the mind of our guests today and also explore how

[00:02:35] Carney is not just reacting to the industry needs but actively shaping the future of financial transactions.

[00:02:44] So a massive warm welcome to the show Aaron. Can you tell everyone listening a little about

[00:02:48] who you are and what you do? Yeah, I mean firstly thank you for having me on the show.

[00:02:53] Yes my name's Aaron, I'm the CEO and founder of Carney Payments. We are a reporting and

[00:02:59] reconciliation platform built for companies in the payments ecosystem and really kind of came

[00:03:06] about through recognising a need for a platform that's dedicated to this space,

[00:03:12] having done a couple of roles prior with one was a gift card business called SchlexiCard.

[00:03:18] We had shopping centres that we were operating with globally, so 300 plus shopping centres

[00:03:23] that we were working with including places like the Dubai Mall, it's the biggest mall in the

[00:03:26] world and then we also, that gift card company built our own processing platform

[00:03:31] which was called Global Processing Services, which has now rebranded to Thread.

[00:03:36] And that processing platform was supporting clients like Revolut and Stargabank, Monzo,

[00:03:41] Curve and about 150 other fintech disruptors and so recognise that all those companies have

[00:03:46] the same problem around reporting and reconciliation for payments companies is very

[00:03:51] challenging and wanted to make sure that it was perhaps easier and better managed through

[00:03:57] a platform like ours. Well it's a pleasure to have you join me on the podcast today.

[00:04:01] Carney Payments first set off my tech spidey sensors when I was reading how you'd been

[00:04:06] acknowledged in the industry for your innovative reconciliation and reporting platform since it was

[00:04:11] launched. I'm curious, how do you see this innovation evolving in the face of this

[00:04:17] ever-changing financial services landscape especially with the introduction of AI and

[00:04:21] so many other fintech technologies out there? How do you see it all evolving at the moment?

[00:04:27] I mean I think evolving is probably the right word that there is a constant,

[00:04:31] I suppose, drive of new companies that are coming into the market that have really good ideas for

[00:04:37] innovative payment products often lacking the sort of infrastructure that a traditional bank

[00:04:44] would have. So they have a really good idea for a product that they want to bring to market

[00:04:48] but they don't have you know massive finance team, they don't have in-house

[00:04:52] IT systems that they can rely on but they have all the same regulatory and legal obligations,

[00:04:57] all the same reporting and reconciliation obligations particularly around customer's money

[00:05:02] that those bigger banks that they are challenging already have at their disposal.

[00:05:07] So I think the market is you know if we can help organizations that are perhaps a bit small,

[00:05:15] a bit more innovative than the challenger banks or the traditional high street banks

[00:05:18] to bring their products to market by giving them a really good platform that enables them

[00:05:23] to handle all their data. I think that's only going to be a good thing and I do

[00:05:28] particularly think you know going back to that point about evolving we're particularly seeing

[00:05:33] the evolution of regulatory oversight so I suppose one example would be

[00:05:41] you know last year quite a few of the European regulators wrote as they call them

[00:05:46] DSCEO letters. So a DSCEO letter is basically writing to the most senior person

[00:05:52] in this organization to tell them that they need to sort something out and it's usually the

[00:05:55] first step before some kind of regulatory intervention and we've seen quite a few DSCEO

[00:06:01] letters last year highlighting deficiencies in things like reconciliation and safeguarding

[00:06:07] customer money. So I think you know we can certainly see the regulation evolving, see

[00:06:14] regulators tendency to intervene in payments firms evolving and getting a bit more serious

[00:06:20] and we also see a lot of new market entrants that have great products and want to bring them

[00:06:24] to market but need a platform like ours to make that happen. And we will have people

[00:06:28] listening all around the world but our biggest audience is in the US so I really wanted to

[00:06:32] highlight with you today as well that Carney Payments was also named Europe's leading

[00:06:36] financial services or payment startup and also been participating in notable programs such as

[00:06:42] the Mastercard Start Path Global we had Mastercard on last week and also the

[00:06:46] Fintech Accelerator. So I've got to ask as someone in the heart of this, what do these

[00:06:51] recognitions mean for you and your company's growth strategy and standing in the industry as

[00:06:58] well? Yeah I mean it was really the Payments Association awards where we were highlighted as

[00:07:03] Europe's leading financial services or payment startup. The comments that we got back were

[00:07:08] that yes there is a problem around reporting reconciliation for the payment space but I'll be

[00:07:14] really brutally honest I think reconciliation reporting is often one of the most boring parts

[00:07:20] of the whole kind of payments chain but it's also one of the most necessary. You have to get it

[00:07:24] right, it's not acceptable for firms to not look after customers money correctly and know

[00:07:30] where it is at all times and be able to reconcile the payment chance that they have

[00:07:33] so it's absolutely a necessary part of being a payments company or a bank or a fintech

[00:07:39] and what we want to do is make it a lot easier and more straightforward for those

[00:07:42] organizations to run their operations and not worry about this sort of you know

[00:07:48] really deep requirement that they have but yeah to your point I mean we have to say

[00:07:52] a big thank you to Mastercard and also to FIS. Both organizations have been very supportive,

[00:07:57] we went through the Mastercard Start Path program and the FAS Accelerator program.

[00:08:02] We're working very closely with both organizations to develop our product further

[00:08:06] and to roll it out particularly in the North American market where there's a huge opportunity

[00:08:10] and then just a couple of weeks ago we were in Atlanta for a number of reasons. We were doing a

[00:08:14] run it by the buyers event where we were talking to many of the processors on the market who are

[00:08:20] often strategic partners of ours but we're also looking for office space there so

[00:08:25] our plan is to open an office in Atlanta and really kind of expand our North American

[00:08:29] presence so yeah great to hear if you've got a lot of North American listeners then

[00:08:35] hopefully Kanye will be coming to Atlanta in the near future.

[00:08:38] I hope so indeed and for anyone interested in what problems you solve and what the value

[00:08:44] proposition is ultimately Kanye's platform offers this remarkable proposition and that's turning

[00:08:49] weeks of transaction reporting and reconciliation work into a task that takes less than 30

[00:08:54] seconds and in a world where as you said is often perceived as boring I think that

[00:08:59] 30 second thing will really get people's attention but can you spare maybe a client

[00:09:05] success story you don't have to name them I understand you're going to be locked down

[00:09:08] there but anything that would just bring it to life and highlight the transformative

[00:09:12] impact of your technology on that enterprise space?

[00:09:16] Yeah absolutely so we have there are broadly sort of three challenges that we see for

[00:09:21] companies in the payment space. So the first one is that there is often a significant

[00:09:27] volume of data that they have to deal with you know we'll be talking about millions or

[00:09:30] even billions of transactions that they need to reconcile and report on. Secondly there is

[00:09:35] complexity in that data so you know even if you take the you know MasterCard and Visa

[00:09:41] you know they often have the same underlying standards that they base their messaging on but

[00:09:46] they have their own proprietary report outputs. Similarly all the processors on the market have

[00:09:51] their own reporting format so FAS, T-SYS, Marketa all three of those processors for

[00:09:57] example that are typically probe assessing things like ISO 8583 messages but they output

[00:10:02] data in their own proprietary format with their own customer fields and metadata involved.

[00:10:09] And then the third problem that customers have is around knowledge so even if you have systems

[00:10:15] that are capable of handling all this transaction data it's often very difficult to have a team

[00:10:21] of experts that understand how to best use that data for the reporting reconciliation

[00:10:25] outcomes that you're looking for. So volume of data, complexity of that data and knowledge

[00:10:31] of what to do with it they're the three things we're trying to solve. If I take a good example

[00:10:35] I'm sure they'd be happy to be to be named on this so we have a very successful bank that

[00:10:39] we work with called Transact Payments they are based in both Gibraltar and Malta so they have

[00:10:44] a dual regulatory requirement so they report to two different countries regulators. They work

[00:10:49] with 10 processing platforms so you know FIS and Thread and you know Marketa and a number

[00:10:54] of others. They also work with more than one card scheme so they work with both MasterCard

[00:10:58] and Visa so they have this problem essentially in space you know they've got massive volume of data

[00:11:05] lots of complexity you know 10 processing platforms and also knowledge so their team

[00:11:11] wants support from someone who understands the industry to kind of get them over the line on

[00:11:15] things like reporting reconciliation outcomes. So yeah that's really what we're trying to

[00:11:20] help customers solve. It's probably fair to say that we have real success at two

[00:11:26] kind of ends of the market so one is new market entrants that haven't tried to solve this problem

[00:11:31] yet and you know essentially can get to market faster with a product like ours and then at the

[00:11:36] other end when they've been very successful they've gone through that scaling journey

[00:11:39] and they've just got an overwhelming volume of data and complexity of data and require

[00:11:44] more support. That's where again we can come in and be very helpful. And of course handling

[00:11:48] the complexities of MasterCard and Visa scheme QMR and QOC report generation that is a notable

[00:11:55] achievement on its own but I'm curious I'm sure it wasn't all plain sailing. What kind of technical

[00:12:00] challenge did you face in creating a platform that's capable of this meeting all these

[00:12:05] requirements and was there any particular obstacles that you've had to overcome doing that?

[00:12:10] I think scale is the most obvious one. I mean you're absolutely right that we

[00:12:15] you know if you take the QMR for example from personal experience I used to

[00:12:19] have for those who are not familiar the MasterCard QMR is a quarterly report you need

[00:12:23] to submit to MasterCard which advises on things like your payment volume during the quarter,

[00:12:29] the number of outstanding cards and accounts you have in the quarter and other metrics.

[00:12:34] And when I used to work at the previous organization's hours I would work from home

[00:12:37] for two weeks before kind of homeworking was a thing manually pulling together all that data

[00:12:42] through you know SQL queries and Excel and it was a big manual task. And in our platform

[00:12:49] you log in you go to the QMR report you click the button and it generates the report

[00:12:52] and it takes about 10 seconds for it to produce the result. So we're talking about 10 seconds

[00:12:58] versus two weeks of manual effort so that's a significant saving but in order to get to that

[00:13:03] 10 second you know time frame we're generally dealing with very large volumes of payments

[00:13:09] data that has to be reported in the correct way. So I suppose the biggest challenge we've

[00:13:13] had is around making sure that our platform is highly scalable and able to deal with you

[00:13:17] know billions of records that we process you know in a short time frame. The volume of

[00:13:24] payment records that we have processed has trebled every year for the last three years

[00:13:31] so our scale is going up very quickly and we need to make sure that we have got

[00:13:36] a system that's highly scalable for the next 10 years and beyond so that organizations

[00:13:41] particularly the bigger tier one banks and other organizations that are starting to work

[00:13:45] with us now recognize that this is something that can deal with the scale that they have.

[00:13:50] And of course this is something that you can't do all on your own collaboration is the key and

[00:13:54] another thing that stood out for me was your strategic partnership with Pismo which also seems

[00:13:59] to represent a significant milestone for Carney payments but how will that alliance bolster

[00:14:05] your position in the global market and does that open up any other unique opportunities

[00:14:10] not just for yourselves but for both companies ultimately?

[00:14:13] Yeah I think Pismo is a great example where we're really finding that there are strategic

[00:14:17] partnerships out there where I know it sounds like a cliche to say but the some of the

[00:14:23] the parts that we can offer when we work together is greater than sorry the whole

[00:14:26] is greater than some of the parts you know when we do partner with organizations like Pismo.

[00:14:33] I do think that there is a strong strategic fit with Pismo and a couple of other

[00:14:38] organizations we're working with because generally clients just want to make best use of the data

[00:14:44] so they have all this payments data somewhere in some database or in a variety of databases

[00:14:50] or a variety of systems but there are many outputs that they are looking for from

[00:14:55] that data so you know making sure that customers money is protected by reconciling

[00:14:59] to make sure that payment channels agree with one another and making sure that their

[00:15:03] regulatory reporting is correct and obviously in Pismo we've got a strong track record in

[00:15:07] in helping clients achieve that. Yeah and really partnering with organizations and knowing how to

[00:15:12] make best use of the data and get our client organization to the outcomes they're looking for

[00:15:17] is entirely valuable and you know again just to highlight you know Pismo is a key partner

[00:15:23] for us and Mastercard we've been working with very closely and we think that Mastercard have

[00:15:27] got a lot to offer from a partnership perspective and really kind of helping us

[00:15:32] drive our product development in the right direction to serve Mastercard customer needs

[00:15:38] and then again FIS have been a really good partner you know but the Accelerator program

[00:15:42] that we went through was really significant for us and we've got a transformational

[00:15:47] opportunity ahead of us to work with FIS on rolling out our product to their customers.

[00:15:52] So ultimately your platform promises significant time and cost savings for your clients

[00:15:57] including some stats that I pulled off while I was before you came on the podcast today

[00:16:03] including $500,000 savings in IT building costs and 200 hours per week of manual effort which is

[00:16:11] just phenomenal but if we were to take a look under the hood I'm an ex-IT guy so I'm always

[00:16:16] curious for anyone listening that are sold on your value proposition right now they're going

[00:16:20] to go into the office right now so I've had a great podcast and the IT director's going

[00:16:25] to bombard them with questions so can you elaborate on some of the technology and

[00:16:29] algorithms that enable these efficiencies we're talking about today?

[00:16:33] Yeah absolutely so you know we spent a significant amount of our time building

[00:16:36] a platform that's highly scalable and there's a part of the platform that we call AutoData

[00:16:41] and that allows us to bring in data from new organizations in the payment ecosystem

[00:16:48] without having to do an IT build project to then integrate with that data source.

[00:16:53] So what AutoData allows us to do is take a data file we haven't seen before,

[00:16:57] throw it at the system and very quickly come up with an automated way of bringing that data

[00:17:02] into the platform that's then sense checked by a human in order to make sure that it's correct

[00:17:06] and then that allows us to ingest the data very quickly. So that's in contrast to the

[00:17:11] way that this has been done historically which is organizations will typically have

[00:17:15] reporting reconciliation solutions in-house that typically involves if they're going to build

[00:17:20] that platform typically involves having you know a project manager, a team of developers,

[00:17:25] business analyst, lots of other people building against the specification and then once that

[00:17:30] system is built which is often a significant effort in and of itself you then have to

[00:17:35] maintain that platform for the foreseeable future. So you know every time that a

[00:17:39] processor changes its reporting output or mastercard or visa or discover network come

[00:17:45] up with a new reporting requirement for example you then have to change your system

[00:17:49] to accommodate that new requirement so it's an ongoing cost for that organization

[00:17:53] in their traditional way of doing things. What we're bringing is a highly scalable cloud-based

[00:17:59] solution where we do all of the heavy lifting so for example if mastercard require a new report

[00:18:05] we will build that new report and then it's available to all of our existing clients at no

[00:18:09] further cost. So it's a really cost efficient and scalable way to do your reporting reconciliation

[00:18:16] outcomes and to stay compliant and then in terms of I think you mentioned things like

[00:18:20] algorithms and you know we've done quite a lot of work on testing various different sort of

[00:18:26] machine learning type capabilities. We actually find that for the vast majority of cases

[00:18:32] particularly in financial transactions and rules-based solutions are actually very good.

[00:18:36] They tend to be able to clear out a lot of the when you're doing record matching they can

[00:18:40] clear out a lot of the obvious matches and then what you're left with is the small

[00:18:46] proportion typically of unmatched things or mismatched things and then you can start

[00:18:50] doing things like applying some really good mathematical algorithms out there.

[00:18:55] The Fleggie-Sunter for example is a mathematical algorithm that's very well

[00:18:59] established in this space for doing record matching between two different data sources

[00:19:05] but we're also experimenting with things like machine learning, generative AI for

[00:19:10] you know for asking questions around the data and yeah there's a significant road map ahead of

[00:19:19] us to enhance the product further than where we are today but yeah it's really exciting times I

[00:19:24] think especially with some of the AI stuff that's coming out at the moment.

[00:19:28] And we've also talked we've already talked about handling the complexities of MasterCard

[00:19:32] and Visa Scheme QMR and QOC report generation huge achievement there but expanding on that given

[00:19:39] the stringent requirements for things like data security and compliance across the financial

[00:19:44] sector. How do you at Carney ensure that your platform and your services remain right at the

[00:19:49] forefront of the regulatory adherence and data protection in particular the ISO 27001 certification

[00:19:57] again we're drifting into that that boring side of things but compliance and protection

[00:20:02] it's possibly the most important isn't it? It is absolutely I mean I should probably say

[00:20:06] I started my career out in a compliance role and there's a secret compliance manager in me

[00:20:12] that really likes stuff so but yeah you're absolutely right I mean you know when we're

[00:20:17] handling these really significant volumes of data the security of that data is obviously

[00:20:22] incredibly important. So we are ISO 27001 compliant and that's an information management

[00:20:27] security system that we employ to make sure that we are handling data correctly and in a

[00:20:32] secure way. We also use technologies so we partner with Snowflake that's one of our core

[00:20:39] database technologies and Snowflake have got some really exceptional security features

[00:20:44] and they also allow us to geolocate data in particular regions so a good example would be

[00:20:49] if we were working with the North American bank we would geolocate the data in the North

[00:20:53] American region in a even in a data center that is you know that can be specified so

[00:21:00] that allows us to keep on top of things like the data sovereignty rules that certain countries have

[00:21:05] and similarly we work with some banks in Australia so we geolocate their data in

[00:21:09] Australia for them. Then over and above that obviously SOC 2 compliance is particularly important

[00:21:13] for the North American market and we actually de-scope the vast majority of PCI DSS related

[00:21:20] data from our platform because it's typically not necessary for reconciliation purposes so we

[00:21:26] don't really need to know the card number for example when we're doing reconciliation

[00:21:30] we would far rather have that obfuscated or tokenized in some way. So we basically employ

[00:21:36] a range of different security approaches you know through certification to standards,

[00:21:43] sensible measures like geolocating data and encrypting it arrest and so on

[00:21:47] and then thirdly we also de-scope the vast majority of data that we can where it's not

[00:21:51] necessary for us to hold data that would otherwise pose a risk to an organization.

[00:21:56] And I appreciate you're probably locked down as to how much you can share but if we were to look

[00:22:01] ahead are there any teasers you can leave us with on the next big steps for Carney payments

[00:22:06] in terms of things like technology development, market expansion, partnerships or any upcoming

[00:22:13] innovations or strategic moves that particularly excite you? Yeah I think probably two that are

[00:22:20] most of interest. One that I can talk about very freely and one that I have to be

[00:22:25] cautious about what I say at this stage but yeah I suppose the two are that we are looking for

[00:22:30] and I think we have found an office in Atlanta. We have a significant amount of interest from

[00:22:35] North American companies and particularly some of the processes on the market

[00:22:40] to deploy our solution there and then the second part of it is that we have just signed

[00:22:45] a major agreement with one of the card networks and we are working very closely

[00:22:49] with the card network to roll our product out initially in some selected markets and then

[00:22:55] the longer term is the plan for that to be a global push but we see both of those things

[00:23:01] as being likely to be transformative for for Carney. Being a bootstrap business up to this

[00:23:04] point we've got some very strong investors who have worked with two previous companies

[00:23:09] that are built and next did fintech companies at a significant scale but we're really looking

[00:23:15] to scale up very rapidly over the next couple years having proven that the product market fit

[00:23:20] through a combination of investment expansion into North American market and that strategic

[00:23:25] partnership with the card network which we think will be transformative for us.

[00:23:29] You've been on a phenomenal journey over the last few years and it's been great to hear how

[00:23:35] all that has come together but of course none of us are able to achieve any degree of success

[00:23:39] without a little help along the way. So as the old Steve Jobs quote goes you know if you can't

[00:23:45] join up the dots looking forward it's only when you look back so if you look back at your career

[00:23:50] is there anyone or anything that particularly stood out maybe someone that invested a bit

[00:23:54] of time in you saw something in you that that you're grateful towards I hope you get you

[00:23:59] where you are who would that person be we'll give him a little shout out to them. Well

[00:24:02] there's probably two people I would highlight this is going back to the days of sort of

[00:24:05] 2005 2006 when I was working at a small local building society in the northeast of England

[00:24:12] that got merged with or acquired by a bigger building society. Building society that we moved

[00:24:17] to is a 1500 person organization and there are a couple of people that really stood out there

[00:24:22] so the first one is a guy called Colin Greaves who is the operations director there.

[00:24:26] I don't know if you've ever come across there's a management technique called management

[00:24:29] by walking about which is basically you wander around and you get involved and have conversations

[00:24:35] with people and understand what the you know what's going on in teams and I have to say

[00:24:40] Colin Greaves apart from being a very smart and very you know friendly guy he was absolutely

[00:24:47] the person that I would you know I would want to be more like as I kind of progressed

[00:24:52] in my career he was superb walking around you turn around we're talking about 1500 people

[00:24:56] in the organization and he would know everybody's names and he would spend time

[00:25:00] talking to various different teams and he'd understand what their pain points were and

[00:25:05] operational grumbles that they had and things that could be improved he acted on them and he

[00:25:09] generally carried the respect of everybody in the organization did just a really good job of

[00:25:14] being a in my opinion a really exceptional operations director.

[00:25:17] And Colin had put me into a department with Dan Clepperson I have to say I think Dan is a

[00:25:24] superb career role model and I was very lucky in the last couple of years we managed

[00:25:29] to persuade Dan to come and join us at Cani so I worked on Dan's team back in the sort 2006 days

[00:25:36] Dan had built the Newcastle Building Society card solutions team into being one of the biggest

[00:25:42] prepaid card issuers in Europe by the time that he left and it's really down to his I

[00:25:49] think entrepreneurial drive to make that department a success but also the fact he

[00:25:55] he taught me a lot about you know doing the right thing and getting the tasks over the

[00:26:00] line in a very efficient way he's just about he's just I'll call him an uber do it you

[00:26:04] know he just gets things done. So Dan is now our chief operating officer at Cani I really respect

[00:26:09] him and appreciate the time that he gave to help me develop my career in the early days and

[00:26:14] the pair of us used to work very closely with Colin Greaves at the building society as

[00:26:17] well who's and I think forever will be someone that I aspire to be like.

[00:26:22] What a great answer quick shout out to both Colin and Dan hopefully they will get to hear this

[00:26:28] message and I think it's so important because both Dan and Colin are probably blissfully unaware

[00:26:33] on the impact that they've had on you. When you talk about Colin there knowing

[00:26:36] everyone's name listening to people's problems acting on them to him he's just doing his

[00:26:41] thing and sticking true to who he is but he's actually inspiring you to do the same and

[00:26:46] equally Dan with that uber doer attitude and that work strong work ethic that rubs off on you so

[00:26:52] so important that we mention this a big shout out to both of those but anyone listening just

[00:26:57] wanting to dig a little bit deeper on Cani payments there find out more information maybe

[00:27:02] contact you or your team especially anyone in North America excited by that global push that

[00:27:06] you've got at the moment. Where would you like to point everyone? Yeah I mean the best

[00:27:10] places to go to our website so it's canypayments.com there's a lot of information on our website

[00:27:21] we just hired a really good head of content Matt who is writing some blog posts at the

[00:27:25] moment so hopefully by the time people visit the website we'll get the some really good

[00:27:29] blog posts up from that but yeah you can also find us on Twitter and on LinkedIn.

[00:27:36] Awesome well I will add links to all of those places and I always say at the end of every

[00:27:40] episode technology works best when it brings people together and ultimately solves real

[00:27:44] problems. I love what you're doing here with that simple task of reducing complexity for

[00:27:48] financial services businesses you're doing just that you've had tremendous success in the UK and

[00:27:53] I wish you the best of luck as you push into North America but just thank you for sharing

[00:27:57] that story with me today. Thank you I really appreciate the time great to talk to you.

[00:28:01] Having listened to today's guest I think it's clear that the journey of transforming financial

[00:28:05] transaction management is both complex as it is compelling but Carney's innovative approach

[00:28:13] not only addresses the pain points of reconciliation and reporting but it also stands as a testament

[00:28:19] to the power of their vision, their expertise not to mention that strategic partnerships

[00:28:24] they're building there in navigating the digital financial landscape.

[00:28:30] And also it's worth highlighting the strategic alliance with Pismo and the expansion into

[00:28:35] markets like North America these all underscore Carney payments ambition and its potential to

[00:28:41] redefine efficiency and security across financial services all around the world and Aaron's journey

[00:28:47] there from learning invaluable lessons in compliance roles to spearheading Carney's

[00:28:52] mission reflects for me a blend of leadership innovation and relentless pursuit of excellence.

[00:28:59] But as we wrap up today's episode I invite you to reflect on the impact of such innovations on

[00:29:05] our daily financial transactions and indeed broader financial ecosystems. How do you see

[00:29:11] the evolution of financial technology shaping our interaction with money business and each other

[00:29:18] and do you have somebody like Dan and Colin that has meant the world to you in your career

[00:29:23] that you'd like to give a little shout out to or do you have any questions or you want to

[00:29:28] come and join me on the show whatever it is I'm the easiest guy in the world to find

[00:29:32] tech blog writer at outlook.com on the email if you're going to get me on social

[00:29:36] Twitter LinkedIn Instagram just at Neil C Hughes fire over a quick dm as long as it's not a

[00:29:42] blatant sales page just to get you past that obstacle just say hey Neil I listen to the

[00:29:48] podcast and I will respond straight away because I do meaningfully want to connect with each and

[00:29:53] every one of you. So remember the conversation doesn't stop here it's just the beginning

[00:29:58] join me again tomorrow on tech talks daily where once again we will unravel the complexities

[00:30:03] of technology and its profound impact on our lives and businesses and as I walk off into

[00:30:08] a virtual sunset what is the next innovation that will transform our financial transactions

[00:30:15] that's what I'm going to be thinking about but let's continue this dialogue and we can do

[00:30:19] that bright and early tomorrow so thank you for listening as always and until next time

[00:30:26] don't be a stranger

[00:30:38] you