March 3, 2020
In celebration of International Women’s Day 2020, we’re taking the opportunity to introduce you to the Tech Undivided inaugural cohort. We sat down with these trailblazing leaders to learn about what they do, how they measure success, and what it means to be a leader today.
Keren Moynihan is the Co-Founder and CEO of Boss Insights. Boss Insights provides insights on business borrowers and accelerates lending without taking additional risk. By developing a universal API platform, Boss Insights provides 360 insights on business borrowers, streamlines the borrower and lender journey, and empowers lenders with digital lending functionality in 8 weeks.
Read more interviews in this series here.
Why is now the time for your company to exist?
Everyone says data is the new oil. Really, insights are the new oil, and Boss Insights’ platform is the drill. Where data is financial statements, insights are the ability to calculate the information on the financials and process a loan request.
We exist to facilitate the flow of capital from the lenders who have it to the businesses who need it. Now more than ever, businesses are storing their data on the cloud, and yet financiers have not been able to extract the insights to serve those businesses properly. What’s the result? Most loan applications are declined, and the ones approved are issued on the basis of personal credit.
The solution is simple. Lenders have reasoning behind their loan decisions. The Boss Insights Compound Data Platform gathers business information in real time and translates it to lending models. We automate the lending life cycle from loan application to ongoing monitoring, accelerating lending from months to minutes. By incorporating our platform, the flow of capital from financiers to businesses would be based on their potential.
The time is now because Toronto is taking its place on the innovation stage, and there are more companies than ever before seeking capital. Boss Insights’ platform empowers financiers to meet their customers’ needs.
How do you measure success?
Boss Insights has a guiding vision: Empowering Lenders to Empower Businesses to Empower Vision. We see the possibility of improving communication, and as a result collaboration, between financiers and businesses. Our success is tied directly to the growth of both the financiers and the businesses that they support.
What does it mean to be a leader today?
Challenging the status quo. There was a time that cheques were accepted as a way to transfer money. Now it’s our phones. We’re in a time where businesses are expected to go to financiers with the product in mind. We see the world differently: financiers should be there to support the business. The right solution will support both groups as they grow, giving them control over data, privacy, and outcomes.
Leadership means keeping an eye on three things: Purpose, Possibility, and Perseverance.
ventureLAB is a leading technology hub located in Markham in York Region, Canada’s second largest tech cluster. Through programs focused on capital, talent, technology, and customers, ventureLAB has supported over 2,000 tech companies and entrepreneurs, including 100 companies that have raised over $100 million and created 3,500 jobs. At ventureLAB, we grow globally competitive tech titans that build-to-scale in Canada.
Want access to our tailored programming, advisory network, and exclusive funding opportunities? Apply to work with us.