Rachel Carpenter is the Co-Founder and CEO of Intrinio (www.home.intrinio.com) – a disruptive financial data and analytics firm based in St. Petersburg, FL. She graduated from the University of Wisconsin-Madison with a BBA in both Finance and Management/Human Resources and minors in Spanish and European Studies. Rachel gained experience in HR, marketing, digital marketing strategies and digital advertising and managing teams through positions with Epic Systems Corporation (a healthcare software firm), UW-Madison and the Tampa Bay Lightning/Storm. She is an advanced front end web developer who created Intrinio with her CoFounder from scratch. Recently Hon. Pauline Truong (www.paulinetruong.com) had discussions with Rachel regarding how Intrinio plans to make a positive difference in the financial data and analytics arena.
GlobePreneurs (GP): What are Intrinio’s aim and objectives?
Rachel Carpenter (RC): At Intrinio we leverage our proprietary standardization engine to provide a marketplace of open, flexible and affordable financial data feeds that power everything from websites to spreadsheets to quant models. We’ve eliminated seat licenses, redistribution fees, high prices, and all the restrictions that have made a commoditized product a premium one in a very ‘broken’ system.
GP: What makes you feel so passionate about Intrinio?
RC: The financial industry is very ‘broken’, and it’s arguably an industry that lags the most in innovation and technological advancement. Intrinio drives down into the core of the data that runs this industry and is solving problems from the bottom up. It’s incredibly rewarding to see how much value we can create in making this information accessible and affordable.
GP: How is Intrinio different from other ‘Fintech’ companies?
RC: What’s ‘sexy’ in Fintech right now are the consumer facing applications (roboadvisors, payments, etc.). What we do at Intrinio isn’t ‘sexy’ to most people. It’s raw data. It’s an open API, but we’re making it clean, easy, affordable and very accessible. It’s the backbone that is powering a lot of the ‘sexy’ apps in Fintech, and it’s the ‘lifeblood’ of the analysis that powers investment decisions.
GP: What do you see as the biggest challenge for Fintech startups in the coming years?
RC: Besides typical regulatory challenges and the fact that valuations have gotten out of control and funding will be tougher, I think if we experience a recessionary scenario we’re going to find that investors and consumers will trust technology a whole lot less and will seek the comfort of professionals and traditional banking/investment systems.
GP: What is your advice for women who want to create startups in Fintech?
RC: Being the minority can be a power (not a curse) if you choose to view it that way. Know that you are a better communicator, more empathetic, and more comfortable with vulnerability, and therefore feedback and self improvement. Capitalize off of the fact that people are going to underestimate you and you’ll surprise them. It’s unfortunate we’re still dealing with this dynamic, but leverage those moments and remember that being different is your strength.
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