FintekNews is pleased to offer our weekly feature column 3 Questions. Each week, we feature a thought leader within a unique sector of fintech and ask them to answer just 3 questions for our audience in their vernacular. This week, we’d like to introduce you to John Orr, CEO of FutureVault, a Personal & Business Information Management Platform offering financial institutions and partner organizations a powerful B2B2C white label SaaS solution to acquire, reward & retain their clients and members. FutureVault affords end users (Vault Holders) the ability to digitally deposit, store, manage and collaborate on important financial, legal and personal documents in a highly-structured interface across multiple entities (individuals, corporations, sole proprietorships, trusts, family members, etc.).
NAME: John Orr
WEB ADDRESS: http://futurevault.com/
What does your firm do/offer within the fintech sector?
The explosive growth of the FinTech industry is having a profound impact on several categories of financial services including payments, investment management and finance. Whether digital wallets, robo-advisors or micro-loans, all share a common characteristic – the unavoidable mass production of documentation. In fact, we are being bombarded with documents from all parts of our complex, increasingly digital lives.
FutureVault makes managing this vast amount of information simple. It empowers individuals and their advisors to digitally deposit, organize and share personal, legal and business information through an intelligent and secure Digital Collaborative Vault. Offered as a value-added service through partner organizations like wealth management firms, banks, credit unions, insurance companies, affinity groups, and educational institutions, the Digital Collaborative Vault is designed to provide individuals and businesses with the tools and intelligence to optimize the value of their information.
FutureVault offers partner organizations the opportunity to strengthen and deepen client relationships with enhanced communication, more efficient collaboration and robust management of disclosure, compliance and audit obligations.
What area/s of fintech do you believe will grow the most in the coming 5 years?
With the ever-increasing volume and complexity of personal and business information, we need to shift our perception on the significance of proper information management – ranging from ownership and security to storage and organization. Information is the ultimate asset class and requires the same level of focus, expertise and fiduciary considerations as do one’s financial assets.
With the need for better security and transparency of one’s own information and the desire for better organization – a new category of secure, intelligent and collaborative information management solutions will play a disruptive role across various sectors, especially the financial services industry. There are many companies today that offer document management platforms, but what is missing is an all-encompassing solution that fills the gap between organizations managing client documents and clients having full control over how their information is stored, organized, accessed and shared. This new category of products will guide individuals and businesses on every aspect of how to manage their information while bringing a new level of service and trust between organizations and their clients.
How do you feel consumers (or if more relevant for your firm – businesses) are adapting to the facet of fintech that your company operates within?
Individuals are looking for the tools and intelligence to deal with the volume, complexity and risk associated with managing personal and business information. They demand security and require guidance. This new category of information management gives end users full control over their information helping them reduce cost, increase efficiency and achieve peace of mind, while leaving the bulk of the heavy lifting to partner organizations.
From the perspective of the partner organization, they’re actively competing to acquire and retain clients. As a result, they’re continually searching for new ways to differentiate and grow organically by introducing new products and services that exceed expectations and provide an exceptional client experience. Secure, intelligent and audible information management solutions help organizations deepen client relationships, maximize business potential and better manage risk and compliance.
In the case of both individuals and businesses, FutureVault helps save time and money by providing best-in-class intelligent information management.
Mr. John D. Orr is an entrepreneur, banker, lawyer and investment professional. He views personal information as the next and ultimate asset class. He is CEO of FutureVault, a Digital Storage, Collaboration and optimization company.