What is Trunomi’s mission statement?
Our mission is to reinvent identity and personal data management and sharing. Trunomi builds FinTech solutions and data-sharing technologies that connect companies and people; eliminating pain points, reducing friction and making both their lives simpler, safer and easier.
We are building our company to transform the lives of billions of people. Our vision is to innovate solutions that can positively influence people’s lives and democratize financial technologies around the world. To do so, we are assembling a group of intensely loyal, passionate and committed teammates, we call Trunomians.
Where are you headquartered?
We consider ourselves a truly global company – we have offices in Silicon Valley, Ireland and Bermuda. This global base allows us to service North American, European and offshore clients more efficiently and effectively.
Our CEO and Founder, Stuart Lacey lives in Bermuda and having a trans-Atlantic base is really beneficial as he is able to interact with our clients in both the East and West Coast US as well as key European markets and time zones very easily. This also means less time airborne and better connectivity hours when dealing with customers.
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A disadvantage is a distributed team across markets; but connectivity technologies, strong corporate culture and customer-centric footprints more than offset this challenge.
Who do you think will be the most influential figures (or companies) in FinTech, in 2015?
Global investment in fintech continues to grow at a staggering rate – last month alone a total of $772 million was raised – and we were interested to see that last year a lot of funding came from corporate venture capital firms. As such, we expect bank venture capital arms to have even more influence in the innovations and disruptions in FinTech this year.
Ultimately we believe the individual consumer will be the most influential figure in FinTech – customers are increasingly sophisticated in their understanding of use of technology and are seeking easier and more efficient ways to conduct their business.
They are the true drivers of momentum in the space. We also built our core system knowing that individuals are becoming increasingly aware of their data sovereignty; needing better ways to manage their data privacy and personal data management. The Internet of Things, regulation and public policy are accelerating this trend – as such we can expect to see a move away from centralized control of personal data. Instead, it will be distributed, empowering each individual to manage, share and ultimately make use of the data they create.
What kind of year do you foresee for your company, and the industry as a whole?
We are currently in the process of raising some late seed stage money now, andexpect 2015 to be an explosive year of growth for Trunomi. We’re very excited to be included in the 2015 – Fintech50 – as one of the top 50 European FinTech companies transforming the future of finance. We are extremely busy and growing rapidly and as such we expect our company and the industry at large to have it biggest year ever.
What are your key targets for 2015?
- Series A Capital Raise
- Several Large FI Partnerships
- Moving from a consultancy staffing model to one with more in-house development teams, and growing our support and customer development teams in our key markets
What will be the most important opportunities for FinTech in 2015?
We think we’ll see increased regulations in USA, to catch up with Canada and UK “Opt-In legislation” and Europe’s more stringent data privacy laws: a recent example being Obama’s January proposal for a “Customer Privacy Bill of Rights” and legislation designed to further allow consumers to determine how their information is used. This is a huge opportunity for Trunomi and our propriety patent-pending consent-based sharing platform. There will always be opportunity to explore technologies that will boost economic growth and data creation without sacrificing individual privacy – we see opportunity in the future for individual and personal monetization of Pii by putting the consumer in control of their own data – albeit we expect this to be more of a 2016 opportunity.
What are the key hurdles for growing your business this year?
Time and capacity….balancing product and customer development.
What are your thoughts on the current state of FinTech?
Exciting, fast paced and BOOMING. Now is the best time ever to be in this industry – it is so exciting and the world’s eyes and that of the media and the investment community are paying close attention.
(image credit: Trunomi)