Thomas Smyth
speaker
80 appearances
1 recordings
1 series
first heard Feb 2022
last heard Feb 2022
Thomas Smyth’s voice in public audio — every appearance, attributed to the second.
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Appearances
WSJ Your Money Briefing · Cutting the Fat From Your Budget, With Trim CEO Thomas Smyth · 17 Feb 2022
podcast
You could say, hey, look, maybe I need to look at where all my money is going and figure out if there are opportunities to save.
Yeah, it's largely automated.
Then we realized that you actually have a huge amount of value available if you have some people behind the scenes too to help with high touch opportunities like customer service and negotiating bills and so forth.
But what we have basically is an automated system that allows users to connect their financial accounts and their financial data
see, for example, their recent subscriptions and recurring payments.
They can see their bills going out.
They can see, hey, it looks like there's not money being taken into a savings account.
There should be.
And then Trim will say, all right, well, we can set you up with the savings account.
We can negotiate that Comcast bill.
We can jump in and try to save you money by canceling your old recurring payments that maybe you've forgotten about.
And many more opportunities like this, right?
Car insurance and so forth.
So we really do see it as a holistic money-saving opportunity that allows people to identify opportunities to find just a few line items here and there in their transaction data where they could be saving and then take advantage of those opportunities.
Yeah, well, look, it's been, I think, an increasingly popular space since back in 2015.
And as part of Trim's journey, I think you know this, but for our viewers out there, Trim was acquired last year by a large public company called OneMain Financial.
And so I think that presents a really interesting opportunity for us
us to bring our product to many, many more users, right?
There are many millions of people who are already customers of OneMain and our hope is to engage and delight them and give them a more value added service.
So I think you're seeing more a trend in that direction where people who are building interesting personal finance apps and services are joining up with much larger entities that already have a huge customer base.
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