1. What has been the most surprising thing you’ve encountered since you started alpha-testing iQuantifi?
The widespread appeal of the timeline was a pleasant surprise. It was created as a way to give the user an instant visual picture of their entire financial life—showing when all of their goals are accomplished. We also knew that it would help educate users on how their multiple goals work in connection with each other and their resources. Until we started testing different user scenarios, we didn’t realize how intuitive and fun it was to move the icons around. It really became the “wow factor” of our software platform.
2. What sparked the idea for iQuantifi’s financial planning tool?
Believe it or not, the initial idea came while I was walking our two Dalmatians. I was thinking about how to take what I do every day at my financial planning firm and reach more people. How could I help the public with their finances? Technology and the internet were an obvious part of the answer, but the experience and principles behind financial planning had to be automated. The solution had to be easy to use, address multiple goals, and be actionable. That was how iQuantifi came into being.
3. What’s the single, most compelling benefit of the iQuantifi platform?
Actually achieving financial goals. Not just budgeting. Not a static plan. But a dynamic way to take action. That’s why iQuantifi starts with an “i”—the software gives you what you need, but the consumer has to make the final decision and take action.
4. What was the question you heard the most from the Finovate audience?
“Will you white label the software?” That was a big one. Our goal at iQuantifi is to get the software out to the public, so we are considering all of our options. Many of the financial institutions we spoke to have been searching for a way to connect in a more interactive way with their clients. iQuantifi can certainly fill that role.
5. Now that you’ve won Best of Show with the iQuantifi platform, what’s the next step for the product line?
Unlike most of the companies at Finovate, we just finished our alpha testing. So far, we have funded this completely on our own and are now looking to raise capital to get through our beta to our public launch. Our business model does have several phases beyond the core financial advice that we showed in the demo. We will include several key layers and features that include a recommended cash flow, an expense planner, and even what we call the “Uptouch.” If we can find the right investors and partners, then we can honestly say, you haven’t seen anything yet!