Talks
Speakers
Events
Topics
Search
Sign in
Search
Home
Talks
Speakers
Events
Topics
Leaderboard
Use
Analytics
Sign in
search talks for
⏎
Suggest modification to this talk
Title
Description
by Stan Ng and John Phamvan Payoff has a crazy goal; we want to solve America’s credit card debt problem. After a risky 8-week Ruby rewrite of our 500k line C# personal finance website, we decided that wasn’t audacious enough. So we set out to become a financial institution in order to help folks get out of credit card debt. In the past 16-months, we taught the rest of the engineers Ruby, figured out how to lend money, wrote all the systems and automation needed for a small bank, and hired 70 more super nice people to make it real. If you have a crazy goal to change the world, come listen to our story.
Date
Summarized using AI?
If this talk's summary was generated by AI, please check this box. A "Summarized using AI" badge will be displayed in the summary tab to indicate that the summary was generated using AI.
Show "Summarized using AI" badge on summary page
Summary
Markdown supported
The video titled "5 Secrets We Learned While Building a Bank in 16 Months" features speakers Stan Ng and John Phamvan sharing their journey of transforming Payoff from an internet company focused on personal finance management into a financial institution aimed at helping individuals overcome credit card debt. The key points discussed in the video include: - The Evolution of Payoff: Initially a personal finance management company, Payoff sought to create a bigger impact by transitioning into a lender to assist consumers in managing debt. - Understanding User Needs: By profiling a typical user named Ashley, the team illustrated the challenges many face with high credit card interest rates, despite responsible payment habits. - Strategic Code Rewriting: Recognizing the limitations of their old codebase, the team undertook a challenging rewrite of their 500k lines of C# code to transition to a more agile Ruby system, which significantly improved their software development efficiency. - Hiring and Culture: Emphasizing a nurturing company culture, they aimed to hire nice people and prioritize work-life balance, understanding the importance of a positive, supportive workplace. - Learning and Expertise: The rapid transition to lending required the team to educate themselves on compliance and the intricacies of the finance world, fostering a culture of continuous learning and improvement. - Communication and Values: The company focused on maintaining open communication, nurturing talent, and integrating diverse perspectives, which are vital in a tech-oriented financial setting. - Conclusion: They highlighted the broader mission of restoring humanity to finance and the importance of prioritizing employee well-being alongside business success. The overarching conclusion from the video is that building a company in the tech and finance sectors can be successful without sacrificing personal values and quality of life, making it possible to foster innovation while empowering employees to maintain a healthy work-life balance.
Suggest modifications
Cancel
