Jason talks to Dimitri Dadiomov, CEO of Modern Treasury. Modern Treasury is a payments architecture system that focuses explicitly on payments and payment automation. She talks about how they differentiate themselves and dominate payment automation within this space.
Episode Highlights:
- 1.14: Jason asks, what were you trying to accomplish in the first place as related to automation functionality, and what was the origin of the modern treasury?
- 2.39: The collection part has mainly been solved in the online payment, but much more goes into it beyond just collecting that money, says Jason.
- 8.19: The significant part of making the money movement easy is to hold onto the context of payment from the moment it initiated through to its final resting place in the general Ledger, says Dimitri.
- 11.39: Dimitri says that they help companies by providing better information, visibility, and alerting things. But they are very focused on delivering the best software experience, and there is enough complexity in that.
- 15.10: Dimitri says that they hope to provide better data tracking, workflow, and process. Every team that they engage with finds some new feature and use case where different types of users are engaging with the system.
- 18.49: Jason asks if you had one wish or something that could change in your company or the industry as a whole, what would it be?
- 20.36: Dimitri says that when you have something that is pretty critical, companies tend not to want to buy that from a startup because that scares them. So, the hardest thing for them has been buying, earning, and preserving the trust as they scale up their operations.
- 22.02: Watching our customers grow means whatever they’re trying to bring into the world, and our business, in some ways, is pegged to them that’s exciting and refreshing to watch, says Dimitri.
3 Key Points
- The Internet is messing with new parts of the economy that haven’t been messed with before. Many companies are building automated clearinghouse (ACH) infrastructure. Wire infrastructure is not core to what they are trying to put in the market, says Dimitri.
- Every transfer uses modern treasury software and API in the company we are working with. They built their company on top of our product, and it is exciting to watch them grow and not have to build a whole department which is our focus, says Dimitri.
- Dimitri thinks that the broad adoption of real-time payments and instant transfers would make an enormous difference. A lot of the problems that companies face today are using 50-year-old technology for the core payment processing pieces of the banking system.
Tweetable Quotes
- “If you zoom out and look at what has been happening with the web economy, it’s been penetrating and messing with different sectors of the economy.” - Dimitri Dadiomov
- “Magical software is not something you have to use all the time, and it might not work for you.” - Dimitri Dadiomov
Resources Mentioned:
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