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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WSJ Your Money Briefing · Cutting the Fat From Your Budget, With Trim CEO Thomas Smyth · 17 Feb 2022 podcast

And also my expectations as a consumer are going to be higher because I'm having these world-class digital experiences across other venues, right?

Aside from my diary, JJ, my bank account transactions are pretty up there in terms of what's personal and what's confidential to me.

So I think the first thing is just building the technology of structure from the ground up in a security-focused, privacy-focused way.

That's a lot easier to do if you're building a new company today than if you're trying to retrofit onto some age-old technology.

So I think that's first from a technical standpoint.

perspective, how we look at it.

And the second is making it very clear to users why they are providing any data and what we are doing with it, right?

So we don't sell your data.

We don't have weird data brokers or sell the hedge funds or any weird stuff like that.

We are very focused on, hey, you're giving us this data and we're giving you back a product in return that you find useful and you understand there's a clear quid pro quo here.

So I think that is going to become more and more prevalent where people are saying, look, I'm comfortable sharing my data, but I want to know why and I want to get something for it.

And being very clear to the user about, hey, you're connecting this in order to do this.

You're linking your credit card data in order to see your list of subscriptions and recurring payments.

That starts to make sense for folks.

Look, it's a great question.

And honestly, as a startup over the past few years prior to our acquisition, I think it was hard for us to really focus on that.

Now, as part of OneMain and part of a much bigger organization, they have a lot more resources focused on driving financial literacy in high schools across the country, reaching out to communities that I totally agree have been traditionally underserved by the financial incumbents and by kind of the existing financial system.

So that's, I think, been a great

opportunity for us to see how the resources of a much bigger company can be dedicated to thinking about personal finance a little bit more holistically and trying to allow populations that traditionally haven't had access to great financial services to improve on that.

And if we can be part of that as Trim and get Trim out to more folks, that's what we're here for.

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