My guest this week has a degree in engineering but no passion for being an engineer. Instead, he has a passion for vision, strategy, and execution. And all revolving around the world of payments! ForwardAI CO-Founder and CEO Nick Chandi is a self-proclaimed subject matter expert on “how things need to be done.” And, as is evident by his career, he knows how to do them very well.
For those of you who may not know, ForwardAI is a technology company with a truly distinct offering. They offer a core product and a vertical-specific solution with a proprietary build out that enables seamless integration between the two. Their industry niche is in accounting and their target audience is both fintechs and lenders.
Their core product, Precise API, connects to multiple accounting systems that function as the main control panel at any given business. With this integration, customers are able to push data and provide their accounting information to any one of their clients. They also offer a product called Forwardly that specifically targets the small business market with optimized cash flow management solutions integrated with their precise API platform. With the Forwardly app, small businesses receive instant payment from their clients using the RTP and (as of July) the FedNow payment rails.
As for their competitive advantage, Nick touts the capacity for his customers to request payment from their clients via a one-click interface for funds received directly into their preferred bank account in a matter of seconds!
Tune in this week to hear Nick talk about his journey to CEO, including being the first company to go to market on behalf of the small business B2B sector with instant payment options. We also talk about where he sees the industry going in the next 2 to 3 years as it relates to cryptocurrency, Blockchain, SB RTP, and Central Bank Issued Digital Currency.