Host - Rory Holland - cstmr.com - Linkedin: CSTMR

Interviewed - Bo Stone, Bill Stone, smionecard.com, kudzumoney.com

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In this episode

In this episode, Rory Holland interviews Bill Stone and Bo Stone from SMI (Systems and Methods, Inc). They discuss the company's rich history, starting from its founding in 1971, to its evolution in providing financial services, particularly in child support distribution. The conversation highlights the importance of relationships, the introduction of innovative products like the smiONE prepaid debit card and Kudzu, and their commitment to financial literacy and serving underserved markets. They also touch on the challenges faced in product development, the future of the financial industry, and offer advice for aspiring entrepreneurs.

Key Takeaways

• SMI's growth is built on relationships and partnerships.
• Financial literacy is crucial for long-term success in underserved communities.
• Innovation in financial services is essential to meet changing market needs.
• AI and technology will play a significant role in the future of financial services.
• Starting small and solving specific problems is key for aspiring entrepreneurs.

Chapters

0:00 The Origins of SMI and Its Mission

6:35 Expanding Financial Products and Services 

12:21 Understanding the Customer Landscape in Digital Banking 

18:32 Innovative Features of Kudzu 

24:09 Challenges in Product Development 

30:38 Future of SMI and the Financial Industry