Ep. 200. 11FS Turns TWO! Company culture, consultancy, and cupcakes START OF AUDIO 00:00:00 Simon: Welcome to Fintech Insider Insights, brought to you by 11FS. My name is Simon Taylor, and I'm joined by all my 11FS Co-Founders, colleagues, and many more. I've got the one and only David Brear. Hello-, David: Hello! How's it going? Simon: Mr Jason Bates, how are you, sir? Jason: Hello, I'm very well. Simon: So, today's our second birthday, we're actually two years old, which has gone by just ridiculously quickly, and if that isn't a big enough landmark, this is also, as if we planned it, I'm looking at you, Ollie and Laura-, [Laughter] Simon: The 200th episode of Fintech Insider. So, to celebrate, we're doing something-, well, we're doing something a little bit different. We talk to you every week about the fintech news, but we don't talk a lot about what we do, day to day, the banks we're working with, the propositions we're building, and, more importantly, what we've learnt in the process. As you know, from the podcast-, you know us from the podcast, even, but-, and you know that I read show notes quite quickly, from the podcast-, [Laughter] Simon: But our clients know us for other things. So, we wanted to take a bit of a look back, pull out some of the key lessons we've learnt, helping banks, building societies, insurers, asset managers, in creating fintech inside of a big bank, and it's been a crazy couple of years. We started off with a team of five, and now we're over 80 people, can you believe that? And so we have to bring in some special guests from the broader team, to talk about what we've been up to. So, from 11FS Pulse and Research, we have 11FS Co-Founder, the one and only Ross Methven. Ross, how are you? Ross M: Hi, good, Simon. Simon: And Ross G. Ross G, who's our Principal Consultant, and Host of Fintech Insider, Ross G-, David: Two Rosses, we really shouldn't have made you sit next to each other, so we're-, it's just going to be very complicated-, Ross G: I-, and Ollie-, Ollie will be able to vouch for me, I did try and resist. Simon: Does anybody know the story of how it became Ross G? Because it was a way that Pet had, to differentiate between "Boss Ross" and "Ross G", that-, [Laughter] Simon: So, it's all Petrit, the Assistant Producer's fault. Ross G: So, actually, I guess, if we're-, if we're, sort of, talking about us, and we can probably throw in a couple of, like, inside secrets, Pet has a spreadsheet of nicknames for everyone in the office-, Jason: Wow! Simon: So he has pet names for everybody? Ross G: He has pet names. Simon: Ay! David: But-, but surely-, surely if-, if Ross G was Ross G, like, only one of you had to have a nickname, right? So, like, if you're Boss Ross, you didn't need to be Ross G, I think that was optional, right? Simon: That's a question for Petrit right there, I think-, Ross G: Yeah-, Ross M: Check the spreadsheet. Simon: Check-, [laughter] consult the spreadsheet. And speaking of consulting, our Head of Consulting, Jeff Tijssen. Jeff: How are you, sir? Simon: It's good to have you with us, properly a part of the team now, you've got the Fintech Insider t-shirts going on-, Jeff: All swagged up. Simon: Swagged up, living that swag life. From the Media Team, usually, sort of, behind the mic, but more and more in front of the camera, we have Head of Media, Ollie. Ollie: I. Am. Here. For the first time ever, on a show. Simon: You. Are. Here, with full stops between each sentence, I like it-, in between each word, even. And Head of Content, Laura Watkins, how are you? Laura: Hi! Good, thanks. Simon: And, by no means least, but last, is our HR and Talent's very own Sophie Theen. Sophie, thank you so much for being with us-, Sophie: Good to have you-, good to have me? Good to have everyone-, [Laughter] Simon: Good to have people. Sophie: Yes! Simon: And you're bringing in the people, you've got to (? 03.04)-, Sophie: I am, I am-, Ross G: That was so HR, I love it. [Laughter] Simon: Knowing me and knowing you-, it got-, it all got a bit Alan Partridge there for a second. David: I vouch for this message. [Laughter] Simon: Said the guy from Norwich. Alright, so, welcome to the show everyone, some familiar voices and some brand new, but let's get kicked off. David. Happy birthday! Two years old! How you feeling? David: Tired. Like-, [Laughter] David: It-, it's-, it's like two years, but it feels like ten, I'll be honest with you. Like, I just can't-, I cannot believe how much we've achieved in such a short period of time, you know, the amount of people that have come in, the projects that we've delivered. It's-, yeah, it's kind of scary, really, but-, yeah, I'm probably going to get a bit teary, I'm sure, at some point during the-, the course of this thing-, Simon: I can feel it-, David: Yeah, I mean-, Simon: I can feel the emotion-, David: Yeah, the emotion coming out-, Simon: Bubbling underneath you. David: It's going to happen, for sure. Simon: I saw how emotional you got about the 11FS cupcakes earlier-, David: Oh yeah, like-, like, it's never too early for cupcakes, is it? Let's be honest. Simon: So, Jay, tell me, like, how has-, you know, talk about the original thesis. What were your expectations a year ago, and where do you think we're at, kind of, against-, delivering against what we set out to do? And what was it we set out to do? Jason: Well, I think when we-, when we all got together, in that Starbucks coffee shop, a long time ago, you know, there's always a thing about timing, and it was the right timing for the group of us to get together, and I think-, well, as you know, our original thesis was that there was a gap in the market, that we were seeing challenger banks, challenger fintechs, but not really seeing challenger consultancies, and when we looking out, and hey, I-, I've got my Accenture hat, from a-, you know, 10, 20 years ago, when you look back at those big consultancies, and what they were doing, it was perfect for that era. You know, they were building very big projects, over long periods of time, with hundreds if not thousands of people, because you had to spend a crazy amount of money to launch any kind of new proposition. You had to actually build datacentres, at one point. So, when you're spending tens of millions of pounds, or hundreds of millions of pounds, on something, you need a-, a big strategy house, to tell you it's the right thing to do. You need a big systems integrator, to make it all work, you need Indian outsourcers, you need marketing agencies, insights firms, design groups, and it just becomes this amazing thing. But we-, we all knew, I think, when we got together, two years ago, that that wasn't what you do now. Fintechs with 10 or 11 people are now creating banks. And to contrast that against some of the things that require £1.6 billion, in Williams & Glyn's case, just showed us that there was a real gap, if they could accept us doing things in a slightly different way, with a small, highly talented team, in order just to deliver something. Very special forces versus conventional army. David: It's been interesting, hasn't it? Because it's-, it's not just a-, I guess a change in the way you do it, but it's a resetting of people's expectations. So, I think there was-, there's almost become an apathy that it-, everybody expects it to take a billion pounds to maintain a digital transformation programme, which, it just doesn't make sense, when, you know, we talk about small sports stuff. You know, digital, fundamentally, is that small team sport now, and, exactly like you say, what you can achieve with a few people, really, really highly motivated, you know, very, very highly skilled, is just beyond what you can do with an army. Simon: A small team sport that might have 11 people on the sport, for instance-, [Laughter] David: I've never really figured that football metaphor for-, for 11FS, but maybe that-, maybe that's the-, the, kind of, origin story we'll start telling people next-, Simon: Yeah, no, that's a good one, let's go with that one-, David: Yeah, nice, like it. Simon: It's-, it's-, it's better than a Google Doc (ph 06.19). Jason: And I think when you look back at the-, the people who we've now brought in to the organisation, or the people that we'd worked with previously, in startups, there was something about that highly talented, experienced, people who execute, who do, with autonomy, in order to make stuff happen, that can be a-, like a ten times multiplier, to what you can do in a large organisation. David: But I-, I think the thing there though is that-, I just-, unfortunately, I think, you know, the digital transformation space is just rife with bullshit, quite frankly, and I think this is the thing, it's like, we've seen just the-, the amount of, uh, like, buzzwords that come and go, the magic beans that are being sold by people, to-, Simon: Some AI on that-, David: Indeed. "Give me-, give me some blockchain, and give me some AI, and maybe, like, a-, you know, some sort of whizzy-," Simon: Chatbot. We need a chatbot. David: Yeah, with a chatbot on it, that would be great. But it-, it just sort of feels like, actually, the-, I mean, you know, we talk about deromanticizing those processes a lot, you know, how do we really get that cut through? Well, actually, it's by showing people that this stuff really isn't hard. It's being made hard by people, not by-, not by the actual monumental view of the task, in terms of what it is, just because, actually, there's-, the state that financial services is actually in, given it's the-, you know, since '08, that, sort of, turtle retracted in to the shell, then, you know, we've been sort of standing there with a bit of lettuce trying to coax it out, and it's gone well so far. [Laughter] Simon: And I think that's kind of the key, isn't it? So I was speaking to a senior executive at a bank earlier today, and they were sort of saying, "Look, the big banks in the UK now feel a bit like, 'Oh, wait, everything since 2008, we're starting to come through that. What's the problem now? Well, we're not growing. So, now, we've got to focus on growth'." So, I think there's something about timing that's really interesting, in that we had a different message to, "Let's go through procurement, and do things the traditional way, and do everything the way you used to do it," because doing what you used to do, and expecting a different result, is the definition of insanity. Doing it like you would with a startup? Maybe that's a different approach. Jason: But it's not only in the UK, I mean, the last two years-, I was counting up, I went to 20 countries last year, doing various projects, consulting, we're talking with boards, all kinds of things. The thing that's most fascinated me is the consistent set of messages and questions, uh, it makes you sound really smart, when you've got this really elegant answer to something a senior executive asks you, but luckily, you've been asked it 15 times already, so you're pretty well-, David: Don't tell them that! Jason: No [laughter]-, pretty well, um, uh, prepared for it. But the-, the big question, the big thing, is that people are doing digital as a veneer, doing digital in a nice little way. But the minute it hits the business, or the operating model, or the way you make money, it either slows or gets killed. And so that consistent question has been, well, digital's great, and we can do the pilot, and we can do the conference room thing, and we can do this, that and the other, but whenever it hits the business, like, "What should I tell the CEO? Or the board?" Or-, what-, how do I explain to the Head of Lending, "I really need this thing to-, to work"? David: It-, it is amazing, right? The minute it's a challenge to somebody's P&L in an organisation, then, like, you know, the whole, sort of, spikes come out for people, don't they, which is-, it's-, it's an amazing thing to have seen a few times. Simon: The classic is that Kodak didn't understand the digital camera model of high-value cameras, because they were used to, uh, low-value cameras with lots of film, and actually, we're seeing that now, where the business model's changing, it's not just the tech anymore, and I think we've sort of lived that a little bit. I mean, if you look at what we were doing two years ago, it wasn't building banks, we are now, but it was speaking gigs, and it was running a podcast, and the things that you do to bootstrap a business, and the things that you do, to get instant customer feedback, and test product market fit, as five people, are very different to what you do with 80 people. But I think we've walked the walk ourselves, and now we're able to do it for our clients. Alright, let's bring in some of our guests, because we haven't done this alone. We've done this with the help of an amazing team, sitting around us, and all around us, in fact, some of them are here, recording and making this show happen every week. But let's start with Ross and Ross-, [Laughter] Simon: The Ross duo, Pulse and Research. Ross, you've been working on a tool, and we do cheap plugs for this every time, so, cheap plug, 11FS Pulse is available now, working on creating new digital propositions. What is it, and why did you feel like you needed to build this thing? Ross M: Yeah, a-, a few years back, David and I had been working together, and I think it was actually on a trip to Stockholm, perhaps in a bar one evening-, David: It was almost certainly a bar, yeah, like-, consistency, if nothing else, is my thing, so-, Ross M: Indeed. Well, you know, we were just bemoaning the fact that the-, about the state of competitor research, competitor benchmarking, it just wasn't really fit for purpose anymore, and we kind of had this vision of a-, a tool, you know, if you're building digital propositions, wouldn't it be handy if, in one place, you could actually see what the very best looked like? David: Yeah, for sure, it's one of those things that, in my experience of being client-side, with, you know, banks and-, and insurers, really, was that everybody just spent all of this money just reinventing the wheel, or you paid an agency to go and learn a bunch of stuff, that they should have known for you to be doing the work with them in the first place. So, I kind of, like-, I'm never for outsourcing intelligence, it never seems like a smart thing to do, so how do you really, sort of, embed that insight back in the business? And that's where we came up with the idea of Pulse. Jason: Well, even in startups, you know, with creating Monzo and Starling, it's like, how many current accounts did I have to apply for? My-, I actually took a hit on my credit record, because I was applying for all of these current accounts and financial products, just to see what the interfaces were like. So, it's just that-, David: That's good! Jason: It's just that common problem. Ross M: Exactly, yeah, and, you know, that's exactly what we've-, the problem that we've solved, and, you know, our-, a lot of our customers affectionately refer to-, to Pulse as, "The Netflix for fintech," and, you know, that's really exactly what it is. You know, you can log in to the platform, and, on demand, you can very quickly be seeing journeys from some of the best financial services experiences, all around the world. Simon: So, surely this costs millions, and took years to build? Ross M: No, you know, we-, we-, we took our own medicine, we-, we built it quickly, small team, you know, a matter of weeks, if not-, maybe a couple-, a couple of months, but, um-, Simon: Where is it at now? Because it-, it-, it was built quickly, but there's-, there's a-, there's a whole team of you guys now. How big's the research team now? Ross M: Yeah, so there's about eight of us in the-, in the team, you know, we've been building out the platform, but also been hoovering up lots of really interesting content, all around the world, so I think, in total, we've got around about 1,500 journeys covered for 200 brands, 40 countries, so, you know, every day we're adding more content. Jason: So that's-, that's actually videos of what it looks like to use a mobile app, or a website-, Ross M: Absolutely. Jason: Someone talking through it-, Simon: Without ruining your credit score! [Laughter] Ross M: Yeah, it's-, Jason: Exactly! Ross M: Yeah, if you want to see, you know, a Bank of America customer paying a bill on their mobile phone, you can actually watch that happening. If you want to watch a-, a Google Tez customer, in India, sending money using ultrasonic soundwaves, you can see it. Jason: So, who are the customers? Who are the users for this? Like, what problems does it solve? Ross M: Yeah, so, the-, the users are people that are building out digital propositions. So, it could be people in-, in large banks, it could be people working in fintech. So, anybody that's interested in developing fantastic, winning customer journeys and experiences. Jason: Although I did threaten a team-, a digital team once, that I would give their CEO free access, because I figured that that would be the lever to make their life hell-, David: Yeah-, [Laughter] David: Show-, show them where the bar is, for experiences, right? Ross M: Yeah, indeed, yeah, no, there are some CEOs using the tool, and one or two of them may be using it to-, to batter their Head of Design and UX over the head with, um, but hey ho. Ross G: I think, and-, and actually the other way, as well, I think we're having increasing conversations now with, um, product owners, people who sit in digital teams, and they want to use it as a tool to actually educate their senior execs about what can be done. David: Also, my-, my favourite, sort of, story about it, was people using it to go to their risk department, to go, "Look, we-, those guys have done this in our geography, why can't we?" So, I think it's, you know, multiple use cases, which is cool. Jason: And what are you seeing across-, you know, you've got over-, what, 1,000, 1,200 journeys, like, what-, are there any key themes that are -, that are coming along? Ross G: Yeah, there absolutely are. I think, you know, we've got a whole heap of, sort of, what are, I guess, innovative, and then, I guess, what are more, sort of, hygiene functionalities, that we cover on the platform. It is interesting to watch the traffic in that space, so, I mean, you know, there's obviously hot topics, I think a huge amount of the traffic, probably 75%, 80%, goes towards onboarding, um, biometrics, bots, security. So, you know, key concerns for-, for people that sit in digital teams within banks, from a design perspective. Ross M: All things Open Banking, of course, a very hot topic, as well. So, as soon as anything hits the platform, you know, we can see our customers going straight, and viewing those-, those journeys straight away. Simon: Ross G, you've only been with us six months. How have the first six months been? Ross G: Oh, how've been? They've been, like, frantic, but in such a good way. When-, when people ask, you know, when people say, like, "Oh, you know-, you know-, but you guys are-," because there's a lot of interest around 11FS, this is the thing, you know, you speak to people at conferences, people in the industry, they're like, "You guys are super interesting, you guys are doing some really great stuff," and they always ask, you know, "How's it been?" And what I always say is, "It's been-, it's been crazy, but crazy in a good way." We're doing awesome things, and we're having a lot of fun, right? Simon: Crazy in a good way. So, Ross, what comes next, Boss Ross? Ross M: Well, lots of exciting things. Obviously, more and more content going in to the-, the Pulse platform, whether it's Open Banking, or onboarding, as Ross G was saying. Um, very excitingly, although we've had great success with the Pulse platform, we're actually about to switch it off, and switch on Pulse 2.0, which is very, very exciting, um, that's happening later this month, and will be going in to customers' hands, and this week, we have Homescreen, which is a new video series that we're launching, focusing on some of the-, the cool stuff in pulse. Simon: Oh wow. More content coming your way soon, folks. And where can people find out more? Ross M: As always, 11FSpulse.com. Simon: Love it. Alright, next, let's turn to our consulting arm. Jason, I'm going to ask you this question first. What does 11FS actually do? [Laughter] David: Just-, just podcasts. Simon: Surely-, no, no, no, wait, we've done three ICOs, and we've-, David: Sold to some Russian guys, as well-, Simon: We've bought The Sun-, uh, there's all kinds of rumours-, Jason: I think you're-, I think you're just quoting the rumours on Twitter-, Simon: Yes. Jason: And it is quite amusing, going out to a conference, and people sidling up to you with, "So, I've heard this rumour," uh, and there are some crazy ones out there. I think, when we started two years ago, it was that, "If you can bring a small, talented team together, like, what can we do for big banks?" and I think we were pretty open with that hypothesis, to go and actually talk to end customers about what they needed doing. I think the thing that came to my mind, or the thing that evolved, was this idea that there were lots of people doing that incremental change, digitising what they'd done, building on their platform, driving cost out of the business, all the stuff you really need to do, but there were lots digitising, very few really doing truly digital stuff. Simon: And that's about that business model change, as much as anything-, Jason: Yeah. Simon: It's-, it's not doing what we used to do with a bit of digital on it, it's doing something new from a business standpoint, maybe driving growth, maybe driving cost out, but it's that intelligent services. Jason: Exactly. That-, that move, for me, the-, the-, the key phrase that-, the shift that I think we're-, we're doing work on, and winning work on, is this move from commodity products to intelligent services. Because that changes everything. You know, the ability now to use advanced technology, and networks, and supercomputers, you know, from the-, well, the, you know, modern desktops, and modern mobile phones, uh, are effectively supercomputers in the 1990s. They're just crazy, crazy powerful devices. So, the fact we're using these, still, to access statements, or to make a payment, you know, is just out there. So, rather than access to a commodity product, "Let me get my money, let me see how much is in there," like, what are these services that are making our lives easier? You know, where's the rocket pack, that I wanted in my-, you know, in my teens? And that-, that one shift then changes how you think about, "Well, what's the product-, what's the thing we're delivering?" that leads to all of our jobs to be done work, and talking about real customer needs, and what are the brutal realities of customers' lives, and how do we deliver against those? But then, it also moves in to the, "Well, how do you build this stuff? How do you test it? How do you know that these new services that aren't really around are the right things to build?" Simon: It's hard to say. Jeff, you've been with us about a month now, is that right? Jeff: About a month, yeah-, Simon: Living the dream. Jeff: It definitely doesn't feel like a month. [Laughter] Simon: [Laughter] it feels like a lifetime! But a lifetime of love, I'm sure. So, like, tell us, like, what kind of projects are we doing, and what's the portfolio of projects we're going to be doing? And, more importantly, how's that different from the consultancies of old? Like, you have some experience with that. Jeff: Let me start with the last question, I think. 11FS doesn't have a digital team, or a digital practice. This is what we do. Every single person in the team has, you know, either lots and lots of experience in this space, or used to work for a startup. It's not as if we are a consulting business that happens to have a digital team, that does a lot of the cool work. No. This is the only type of work that we do. So, we're very, very specific, you know, as a consulting team and as a business, in terms of the type of work that we want to do as an organisation. Just to build on what-, what Jason just said, the message that, you know, Jason, and David, and others, were talking about, really seems to land with our clients. I have never seen so much interest, inbound interest from clients, coming to us, saying, "We really, really want to work with you guys." And I think, if you look at the-, the portfolio that, you know, we currently have, and, you know, the pipeline that we have for the consulting business, there's a significant number of new bank builds in there, which is really, really exciting. And I think, a couple of years ago, it wasn't really the case that-, and these are big financial institutions. These are not necessarily a bunch of guys who want to build a bank from scratch, these are big financial institutions, who've basically said, you know, "We realise that the existing platform that we have is a bit shit," you know, "We've-, we've underinvested in technology for the past 20, 30, 40 years. We can continue to fix small bits and pieces and, you know, invest tonnes and tonnes of money in to our existing platform, but it's not going to allow us to do the things that we want to do. It's not going to allow us to do the things that we want to do today, and definitely not in-, in a couple of years from now. Simon: So, we're just in the UK, right? Jeff: No. Simon: Ah ha. Jeff: No. Jason: Oh, that was an alley-oop (ph 19.50) question there, wasn't it? [Laughter] Simon: No! I don't do that, Jason. Jeff: I think-, um, so when Jason said he went to 20 countries last year, I'd be amazed if we don't end up going to 40 or 50 different countries this year. Simon: Alright, well that's a good point for us to cut away to the one and only Sam Maule, we've got to involve our MD from the Americas. He caught up with me earlier this week, so let's hear from him now. [Break] Simon: I'm joined now by the one and only Sam Maule. How you doing, Sam? Sam: I'm drinking coffee, so I'm happy. Simon: [Laughter]. It's our second birthday, and a birthday party wouldn't be complete without checking in on you and your coffee drinking. You joined us in August. How's the first six months been? Sam: It's been absolutely bonkers. I think that's the right word. Isn't that a song by Dizzee Rascal? Yeah. Bonkers. Simon: Yeah! Yeah, yeah. Sam: That should be my theme-, if we had music, that would be mine, for my intro. I've-, I've never had-, in my 35-year career, I've never had six months like this. I've never seen growth this much, I've never seen a talent pool come together like this. I think bonkers is the right word. Simon: So, how's that different to what you expected, and what was it that attracted you to 11FS, in the first place? Sam: Well, my entire professional career has been with global companies. You know, a global bank in Northern Trust, global card processor in TSYS, and even on the consulting side, even though when I first joined them they were relatively small, and by relatively, about 700 people, you know, it quickly grew to almost 400,000 globally with NTT, so I-, I am only used to massive, global companies. And jumping in to a startup, in all honesty, I had no clue what it was going to be like, I didn't know how chaotic it was going to be. I knew we were-, I knew we were going to wear t-shirts and hoodies. That's about as far as it went. I wasn't ready for us to land the clients we landed. I wasn't ready for us to land the clients we landed, without being asked to do an RfP. I wasn't ready for us to land clients the way we did, by them walking in to our office, to see what the hell we were doing. And that just keeps happening. So, that-, that-, that's a little different [laughter]. I think that's a safe answer. Simon: Yeah, that's-, that is a little different, and I guess, you know, there's-, there's obviously some massive differences between, you know, the-, the US and the UK and Europe, you know, six months isn't long to have been getting a business off the ground, but, like, what-, what have you been up to, and what's coming next? Sam: I'd say really the first thing is-, is making people understand what 11FS, and that it's not FS-11, it's not "one-one-fssss", I think actually somebody called it that one once. "What's one-one-fssss?" and I went, "I don't know either!" It's literally raising brand awareness, I'd say, for the first couple months. You know, who are we? Um. Getting the podcast audience kind of helped build up, getting the-, the client base, if you will, to understand who we are, and that we actually are real players. I think it's a-, you know, it's a flip on what the three of you guys did when you were in Starbucks, right, which was spinning up quickly. It's like launching a rocket, right? You've got to, kind of, spin it up first, and get the gyros and everything ready to move, and so that was the first couple of months. Um. Which has now quickly pivoted in to, actually the same thing, people reaching out to us to say, "Hey, we'd like to work with you." That's now happened-, for the two bank builds that we're talking about doing, both of those came through the podcast, and organically. We didn't do any cold calling, sales, or anything like that. So, two huge projects both came in through a LinkedIn invite of, "Hey, we like what you guys are doing. Can we talk?" Simon: Love that, and I think that's-, that's a completely different way of doing things, like you say. So, if people are listening in the US, and they do like the sound of your coffee-drinking, dulcet tones, at this time of day, how do they get in touch with you, Sam? Sam: Um, obviously email is one, because we are the US, and god we love email. And it's incredibly complicated, it's sam@11FS.com, because we-, you know, we kept it simple. Um, and then, you know, Twitter's also a good channel, I would say. If you DM me on Twitter, that's not a bad way to go. And if LinkedIn is your preferred method, reach me there. Drive to Jacksonville, um-, follow me, and, uh, if you follow me on Twitter, you'll know what city I'm in, because I always announce it when I-, when I show up, and I would love to show up over a cup of coffee. I like coffee. Um. Or-, I do. Simon: You really, really do love coffee, don't you, sir? It's-, it's a beautiful thing, you and coffee. I think there's a meme coming. We need to make that happen [laughter]. Alrighty, Sam, thanks for joining us on our 200th episode. Sam: Alright, thanks guys. [Break] Simon: Alright, great to hear from Sam there, our Americas offering is definitely going from strength to strength, and-, and Sam's leading the charge there. Stay tuned for some announcements, and if you're in San Francisco, go see Sam and Doug at our first international After Dark, afterdark.11FS.com, I believe, for tickets. Alright, so, let's move on. We can't do any of this without the people that we have, and Sophie, you've been instrumental to helping us build a team, and it seems to be-, we've talked about small teams-, Sophie: Mm. Simon: Small team sport, a little bit, and that seems to be, like, what we're differentiating on. So, what do those teams look like, and how is that different to traditional projects? Sophie: I think it-, um, it pretty much goes back to what Jason, David, and Jeff, earlier, said. There are a lot of consultancies out there that they've built-, they just happen to have a digital department, and then people decided to join them, because, obviously, it's the fanciest-, it's the most sexy thing around the world. Eventually, you come in to a place where everyone's pretty much mediocre, they are a jack-of-all-trades, and that's what I always say, and what makes us really different is, yes, it's small team, but it's also highly efficient, no one person here actually only does one job, nobody actually sits in here, being very siloed, and can only do one job. So, I think the whole learning opportunities, the upskilling, and bringing on people, which we've said before, people who've done this before, because we're not the kind of startup that has all the opportunities to give you, and allow you to eventually learn to be that. We kind of have to squeeze out as much as possible from each and every person, because, technically, it's just good-, it's a win-win situation for both the employer, and then the employee, as well, because it's perfect timing, a quick place for you to learn as much as you can, absorb everything you can, and the be a star in what you want to do. Simon: I hope so, and-, and what-, what do we look for in candidates? Because I guess you must-, I have no idea how many candidates you screen per week, I don't know how you do it, I mean, David was saying, "Thank god Sophie's here!" David: Yeah. It's like, some-, somebody-, you cannot imagine what we did before you joined, like, genuinely, it's bizarre. Sophie: And it's so much more right now, just like what we were saying, Jason travelled to 20 countries in the last year alone. That-, that technically tells you, as the word gets out-, I think, previously, before me, you guys were probably, what, looking at 100 candidates, um, a day or so. We currently have at least 500, and every other effort that we put in to engagement, employer branding, as the word gets out, we're going to events, we're talking to people, not just clients, think about the-, the people that are actually working in your client company, that they've decided that they maybe want to come and jump ship, and join-, join us, as well. So, the candidates, the inbound that we have is remarkable, over the last three months alone. Jason: But I think there's also something interesting in the, kind of, the approach, because, ultimately, if-, people aren't commodities, if it's not, "We've got a role, we need you to fit it, are you in or out?" two interviews, and that's it, that-, you just lose that, sort of, high-end talent, who, actually, it's a longer-term conversation. There are some people who are just amazing, and the timing's just not right for them. They're in the middle of something big. They're in the middle of doing something great. And they like the idea of autonomy, and working in a small, highly skilled team, doing something with massive impact, for one of the big banks, or insurers, or whatever, in the world, but the time's not right. And traditionally, you'd say, "Well, okay, thanks," you know, and move on to the next candidate, and yet we keep those conversations going, and keep people up to date with where things are, because I think, ultimately, it's a business where we have that sort of client funnel of work going, but we have this talent funnel, as well, where, actually, people who really do want to-, want to change the world, and make a dent, and also, you know, go up in their career, you know, we can find them at the right time. David: Do you know what? I think that's-, that's one of the things that's surprised me most, over-, you know, definitely over this year, as things have really taken off, you know, we've had, uh, people who have exited massive companies come to us and go, "Like, I don't need to do anything, but, like, if-, if you guys have got something that I can get involved in, then let me know when," and that's just-, I think that's such a great, kind of, shot in the arm, really, for, I guess, the-, the culture that, you know, we're trying to build, but also the-, the reputation that's, kind of, carrying to, you know, far-flung places, which is-, which is nice. Sophie: Yeah, yeah, I definitely agree. That-, that was all spot-on. Like you said, Simon, you-, you were asking what do we really look for in a candidate? It's just, really, people who are very experienced, have done this before, and finally decide that, "Today is the day I want to walk out of this current company that I'm in, because I want to get my hands dirty again." Jason: Mm. Simon: Wanna get your hands dirty-, and that's a word we use quite often, is, "Can you roll up your sleeves, can you get involved?" I took a photo, um, lovingly and jokingly, about, uh, two months ago, of David building a shelf, but the CEO of the company-, [Laughter] Simon: Was here at about 8pm at night, and some shelves arrived, and he got so excited that he started building them himself. And that goes throughout the company, no matter where you are, if there's something that needs doing, the Media Team need help with stuff for After Dark, or the Research Team are looking for some information about something that's gone on with a new product, and the Consulting Team just-, so, there is this, kind of, like, get involved, throughout the company, depth thing, that's kind of really key. But what are the tenets that you'd describe, of the culture that we're trying to build? You talk a lot about lifestyle, for instance. Sophie: Ah, yeah, yeah, definitely. I think-, this is one of the things, it's my-, it's my mantra. It's-, it's also in the nature of my scope, and what I do. If I was going to-, I remember the first conversation I had with David was, he basically said to me, "Oh, we want to go through hypergrowth," and I go, "Well, every other startup says that, what do you actually really want to achieve?" and then it took us-, um, it took us a while to actually nail down to the fact that we've got a really solid culture right now, that we actually don't realise how good it is for us, as we go through a hypergrowth. It is one of those-, it's a very honest culture, I would say. It's that kind of environment where, yes, you go in to a startup, you-, you want your leadership to do everything right, and you want them to nail it to the right points. You want your organisational chart to be nailed down, because everyone needs that direction. But really, because you're-, you're bringing in all these stars, and people who've done it before, with experience, and ultimately, they all share the same passion. So, what I do is, if I look at all our, um, contractors, interns, permanent employees, freelancers, anyone else around the table, as well, I put them in to one bucket, and it's just that sheer passion. Simon: Mm-hm. Jason: I think there's something about, also, spring boarding off of that, uh, experience in startups, experience in an execution team, that you've had to-, you've got a runway, you've only got a certain amount of money left, you actually have to deliver this thing, super fast, you have to lose the romance, because you actually have to deliver something, before you run out of money, and for me, that-, I think that's helped us with the growth, because there's been a shared value set around that. Not the bad startups, not the, you know, massive beards, let's play table tennis all day, and we'll play at being startups, but the proper ones. And I think when you-, when you find people who've spent a good deal of time in one of the, like, the hardcore, true startups, then when they come in, they've already got a lot of the, kind of, shared values that-, and you don't really have to then start working on it. But I think that-, that creates difficulties in, "Hey, I'm a Senior Director of a large multinational bank, I'd love to come and join you," and-, and to be honest, that's a bit like, "Well, okay, uh-," David: "Great! What do you do? What's the-," Simon: "When was the last time you built a shelf in the office?" Like-, [Laughter] David: It's a-, it's a strange job, sort of thing, isn't it? But we've had many shelves put together, thankfully, but, uh-, Simon: I just loved it, because of the sheepish look on your face when I took the photo, like, "What's Simon doing? Oh!" [laughter]. [Laughter] David: It was fine, I don't mind. Any-, any fame. I think the-, the thing on that, though, to a certain degree, is like, we-, you know, we've had lots of conversations, internally, and Sophie, you know, spot on with-, it's how do we scale out the thing that we've done successfully so far? Like, if we're going to be aiming at putting, you know, another 2,000, 3,000, 4,000 people in to this company, and scaling out globally, then how do we do that without breaking the thing that we've done so far? And that's going to be really, really critical, because something that works when it's four people, doesn't when it's 400 people, like, so-, Simon: In other countries, in other parts of the world, and a lot of it is about, you know, finding, as you put it, those stars, but those people that have come with the track record, but that can bring-, as you said, the-, the people that we may have known for a while, or-, Jason: Mm. Simon: People that may not be able to join us yet, or that they know-, so, there's-, there's a few people around the room, whose eyes I meet, just as-, as soon as I look, and I think, "Well, actually, they know people, and they've worked with people in the past," so, a lot of that network has been really, really key, but actually, it's about finding that quality person, that-, that can then anchor it, or people that you can anchor a project on. David: But it-, but it's not just about new people, though. I think it's almost, like, you know, we talk a lot-, we've talked before about codifying purpose-, Simon: Mm-hm. David: You know, and actually, that's the thing. You know, I think, if you-, you know, we-, we work really hard to-, there are no managers, like, we don't have a management-, like, not like this is some sort of laid back, hippy culture-, [Laughter] David: Where I'm like, "Yeah, just do whatever you want, guys, and, like, work it out at the end of the year," type vibe, as Ollie's nodding along to, on that one-, [Laughter] David: Um, but-, but, the-, you know, the idea is, alignment on purpose means that, actually, decision making is-, is, you know, reasonably invisible. That's-, that's the key. Jason: I mean, we've talked about, we can't do massive growth if we're building a pyramid, because there's so much-, so many layers you have to add, and if we need managers of the managers, and managers of the managers, then, all of a sudden, we-, we're constraining what we can do with teams at the edge. So, what do you need, in order to-, for us to add another ten teams this year, or 100 teams this year? And we-, we can't have to build a pyramid. Ultimately, everyone has to align on what it is we're trying to do, you know, improve the world, do great things for our clients, be a great place to work, and, at the same time, have, like, rules of engagement, so you know, "Actually, if none of the founders, or people who have worked in the company a long time, are there, what's the decision I need to make now? And what are the principles that they would use, in order to make that happen? And then what are the basic systems for-, to make sure that we're billing, and that we don't have problems with people burning out, and contention, and can-, can move people around?" So, for me, that-, that purpose, the-, the rules of engagement, and the supporting systems, mean you can get rid of that, like, frozen middle, as they call it, in the-, in the large corporates. Simon: And-, and shout out to Toby, who's not on the show with us, I know who does a lot of work with Sophie, in terms of putting those systems in place, that give you those guard rails, that allow you to actually execute, and come in, and here's the toolset. Like, here are the tools in your toolbox to enable you to do the job. And I think, look, to-, to peel back the curtain a little bit, sometimes you get surprised. Sometimes you walk in to the office and it's like, "Who's that?" That is a regular experience as co-founder, but I love it, because I will find out, and there's an openness, and I-, I can just ask, and I can figure these things out, and that cross-communication is really key. Jeff: There's one thing that's really stood out for me, the past couple of weeks, as well. So, yes, we have a consulting business, we have a media business, and we have a research business. But we have one team-, Simon: Mm-hm. Jeff: And I think it's been amazing to see, you know, the-, the consulting team supporting the other parts of the business, the research guys being super, super helpful, to help us win, and, you know, successfully run consulting engagements, and the same for the media guys. And it's just been amazing to see how everyone is not just working their ass off, but also having a bit of fun while doing it, but really, really helping each other, to help, you know, 11FS, as a whole, become successful. Simon: And-, and let's-, let's talk about-, you know, there is a hard work culture, there is, as you say, working our arse off, Jason talked about hardcore startup life, but we also have to bear in mind that we've got a diversity challenge. Like, the-, the top of the company has been male-heavy, let's call it-, Sophie: Mm. Simon: And-, and we do need to build that lifestyle that attracts more people to it. So, what can we do more about that? Sophie: Well, see, this is the thing, right? I struggle with, when people talk about diversity, I don't think the buck actually stops at gender, so, sorry, Simon, I would oppose to that-, Simon: Thank you for disagreeing with me, I appreciate that. Sophie: [Laughter]. The way I see it is, if you look around the table right now, the one thing that actually helped us shape the company, and where we are today, is the diversity of the mind. Basically, it's that good workout in your brain. So, when you look at our recruitment process, it is a no-bullshit, non-biased sort of process, because it all comes down to your skills and experience. You can wear whatever hat you want, you come in, as long as you are the person that we can count on, you're reliable, and we confident that you can deliver that piece of work, plus that role, then you're in. So, if-, if I was to talk about diversity, it's not something that we want to, you know, purposely put in something, or a process, or a programme, just to amplify, or let the whole world know that we've got a problem, therefore we need to fix it-, Simon: Mm-hm. Sophie: We're not a PwC. We're not a huge consulting, where they have 2,000 people and they need to do that. Simon: Mm-hm. Sophie: Basically, what we really need to do is just, like, going back to that, because we've got an honest culture, and as long as we stay honest, we're always going to be able to adapt. Your culture will shift as you grow, that's what hypergrowth does to a company, but as you shift the paradigm, it is always going to adapt to the people that we let in. Simon: And that's the crucial piece. So, speaking about letting people in, where can people find out more about vacancies? Sophie: Oh! So, two things. You can go on to our "People" page, um, where you can actually take a look at the people that you want to come and join us, so that hopefully we convert you, and then you can, once we've converted you, jump on to the "Careers" page, and then click on whichever that you think is suitable. Jason: To be honest, that does sound a bit like a religion or a cult-, Simon: Yeah-, [Laughter] Jason: Uh-, David: It does sound like a cult, actually, doesn't it, yeah-, Simon: I remember saying at the first After Dark, "This isn't a weird recruitment/religion thing," but it's starting to feel more and more like it-, maybe it's just a movement-, David: Yeah-, Simon: Let's go with that. David: "It's not, but definitely drink that red pill." Simon: Yeah [laughter]-, [Laughter] Simon: Drink a pill? That's interesting. [Laughter] Simon: Alright, so, uh, let's turn to Ollie and Laura, let's turn to you guys, because-, representing 11 Media, who make all of this happen every week. The saying that, "Every media is now a media company," what does that mean, Ollie, and are we that? Ollie: "Every business is a media company," you mean. Simon: Uh, what did I say? Laura: "Every media." David: "Every media is a media company." Simon: Alright-, [Laughter] Simon: Picking me up on my words-, [Laughter] Ollie: So, I think there is an element of every company SHOULD be a media company, and I'm going to take one, like, facet of that media bit, and I think it's storytelling, and it's honest storytelling. Because I think a lot of marketing, at the moment, people aren't all that responsive to ads anymore. Like, we're getting ad blindness, people really don't like broadcasting, whereas I think a big element of being a young company is, we have to tell our story, which we've done through the podcasts, which we've done through you-, you guys at speaking gigs. We, like, live and breathe all of this stuff, and I think a lot of companies that are successful at the moment, if you look at the younger fintechs, the ones that really pull ahead are the ones that can be transparent with their audience, and they-, they are doing the same thing as us. They've taken their community on a journey with them, and I think-, so, it's less, "Every company should be a media company," I think it's, "Every company should take on the storytelling as a core piece of how they act as a business," and that's not just marketing, that's everything. Simon: And Laura, what does it mean by "storytelling", and how's that different? How would-, what tenets would you put in to storytelling? Laura: I think there's a-, a-, while Ollie says that every company, sort of, should be a media company, I think that not many companies do what we do. So, obviously, we don't take the traditional marketing route in terms of our storytelling. We do podcasts, we do speaking gigs, we get out there and actually talk TO people, rather than talk to them through the medium of a white paper, a blog post, a tweet. Obviously, we do that, as well, but we get out there and we actually tell the story, we interview people, we hear from the real people, we're not just, sort of, spouting soundbites, I think we're, sort of-, sort of saying the real story, the real facts behind things, and I think that makes a real difference, and why people listen to us, because we-, we, sort of, say it how it is. Jason: Because there's also a thing around corporate language, and the big consultancies using very long terms, and business speak. I remember joining a big consultancy a long time ago, and it's like, "You don't-, you shouldn't write like you talk," you know, "Are you 12?" [Laughter] Jason: And yet now, we're-, we've-, we're almost coming back to that, actually, authenticity, swearing, you know, being passionate about what you're talking about-, Laura: It's sort of putting a human face on-, on, sort of, traditional financial services communications, and-, and, you know, people are attracted by the fact that we're real people, on the other side, and you can imagine, you know, a blog post reading as one of us would say it, kind of thing, as opposed to just being a blank white paper. David: And we've-, we've had that feedback a lot, like, I think that's kind of a-, like, with the podcast, or with writing, like, we're just the same people we are now, when we're talking to a board, or we're talking to, kind of, a junior consultant who's asking for advice, you know, like-, and I think that's so refreshing, if I'm honest with you, and I think it's refreshing for us, as much as it is for people, sort of, consuming that stuff, because a lot of it's, you know, your-, you know, everybody's, sort of, experiences working at different companies, it's really frigging tiring pretending to be, like, something else, and speaking in the third person, and, kind of, doing all of that stuff-, [Laughter] David: Like, so actually, the sort of ability just to be yourself frees up so much more opportunity to actually get shit done. Simon: Absolutely. Ross G: I-, I think we surprise people. I think, you know, whether it's talking to people in banks, or whether it's, you know, at a-, at a conference or a trade show, and you talk to people, and yes, that is because we strip it back, and we, sort of, get rid of that bullshit, but actually, it's also that, sort of, passion really shines through, and that surprises people who are used to talking to the bigger consultancies, where it's just a little bit dead behind the eyes. Simon: Care about fintech? Like, we care, we love this stuff. I'm-, sorry, I'm a nerd for it, I love it. Jason: I actually remember going out for a drink with someone who I'd interviewed for one of the big consultancies, when I-, when I worked there, and this was-, at the time when I was working there, as well, and she said to me, "It's really odd, like, you're the same outside of work as you are in work," and that seemed like a really odd comment to me. It's like, "Are people not the same in work as they are out of work?" but, you know, it really started making me think about that professional persona. Simon: That's just reminded me of something, when-, the first time I met David in person, I think, or the second time, about 11FS, so I think I'd met you a couple of times at an FS club, and you said two things. One was, like, "I've kind of always wanted to do new media stuff, and I want to be authentic, and I want to talk about that," I said, "That sounds interesting." And the second thing is, "I kind of want to build it like the Avengers model, you know, like where-," [Laughter] Simon: "People can-, people can be themselves a little bit, on their own, but you bring them together and they have that character going forward, like, they retain that character. It's not they're the brand now, it's not company thinks. It's David thinks. It's Sophie thinks. It's Laura thinks." And that's-, that's the critical thing. Jason: Well, which takes us back to that diversity thing, because I was thinking, the other day, we were in a meeting, and I-, I don't remember who I was arguing or debating against, I think it was David, and we were discussing some point, but there was something great about the fact we could disagree, pretty significantly, but we all know we're heading in the right direction, no one particularly takes it personally, and, you know, you move forward and actually, probably come up with a better answer. And even with clients, I think, sometimes, like, we'll be in a client meeting, and, you know, one of you will say-, will say one thing, and I'll say something else, and it's like, "Woah, this isn't-, you guys don't have, like, the company line," and it's like, "Well, no. We're-, we're all in for creating this great outcome." Simon: Absolutely, and-, and speaking of creating great outcomes, like, this time last year, we had a Michael, but we didn't have a Media Team, as such, and Michael's still, like, the-, the beating heart of the thing, without question, shout out to Michael Bailey, you absolute superstar, um, but look, what have we been up to in the past year? I mean, the team's grown a bit, Ollie? Ollie: Uh, it has. I think we're nine or ten now, which is a little bit scary. I remember this time last year, I was sort of having a trial by fire, and on my first day, I had to publish a podcast, and I also knew nothing about fintech, so that was a bit of an interesting, like, tumble in to the company, um-, Laura: I mean, strictly speaking, this time last year, you'd only just been hired, and you were on your notice period, and I hadn't quite been hired yet, so, like, there was no Media Team this time last year-, David: You-, you guys turned up for the first birthday party, didn't you, which was quite fun. Like, Bavarian beer house, you guys trying to be on your best behaviour, joined us late-, [Laughter] David: We'd started, uh-, [Laughter] Laura: I mean, you say "late", we came straight from work. You guys started at 2. [Laughter] David: I think you said on Slack earlier on, like, I got excited-, by, like, 1pm, we were-, we were there very early, I'm not going to lie. Ollie: But yeah, so, like, since-, in the last year, we've built up the team, we've got an amazing, like, wizard of an animator that-, um, Simone, who's on our team, that-, I never thought I would have an animator on a podcasting team, that makes no sense. But we've also built out content producers, designers, uh, more-, more editors, and we've moved in to video, we've expanded out three more shows, with Blockchain Insider, Insurtech Insider, and Connection Interrupted. So-, Jason: And events. Ollie: And events. I was getting to it! And, so, like, what we've been able to do is transfer all of this stuff in to a real, good, sort of, like, physical relationship with the people that both listen and watch all of our stuff, and we've created Fintech Insider Live, and After Dark, where we get to see our listeners' faces, and we get to shake hands, and, like, we've found clients there, we've recruited people from After Dark. We've used-, used the podcast as, sort of, like, our bridge out in to the world, as it were, um, and I think that's the, sort of, the big thing behind the Media Team, that we-, while Jeff's off running all the consulting gigs, and both the Rosses have their, like, heads underground, like, working on research projects, and getting Pulse out the door-, Ross M: We do come up for a look, every so often-, Ollie: We-, we can talk to our audience, and keep that sustained pressure, um, on, and, like, constantly open those doors, and even when Jason really doesn't want to do After Dark, we can drag him out for one night, and-, [laughter]. Laura: Put some Barry White on [laughter]. [Laughter] David: That's-, yeah, that was an interesting one, wasn't it? Ross G: It's-, it's going to live on, just the-, the image of-, of Jason, shoulder-dancing up to the-, the table. [Laughter] David: I'm sad I wasn't there for that one. Do you want to talk a little bit about your background, Ollie? Because, you know, from-, I think we got about seven minutes in to your interview, before I was like, "Yes, this is fine, we're good here, let's-, you're the guy." Ollie: Sure. So, like, I come from an entertainment background, like, um, for a long time, I made videos for YouTube, like, big ones that got millions of views, and, like, I-, the-, the most I knew about fintech was Monzo, basically, and not anything to do with-, Jason: And what a good introduction that is! Ollie: Yeah! [Laughter] Ollie: But all I knew was it-, it was an orange card. Like, not coral, I didn't know it was coral yet. It was an orange card to me-, Ross G: There was a lot of, like, deep intakes of breath there, and people ready to jump in, "It's not orange!" [Laughter] Ollie: Because of coming from that-, the-, the approach of trying to get something done quickly, reaching as many people as possible-, um, I came from trying to sell scripts for a screenwriter, and 11FS's attitude towards, sort of, like, let's call it raging against the machine, really appealed to me, and I-, I have a bone to pick with a lot of big consultancies, and big banks, and, sort of, their approach, and, um, this is my little way of doing it. Simon: A little bit of rebellion. Ollie: Yeah. Simon: So, you mean that advertisements in the airport, and white papers, and booths, aren't the future for us? David: Turns out, no, not really! [Laughter] David: No, we are-, we are definitely going to have Norwich Airport decked out with 11FS stuff at one point, just for me, alright? I'm just saying, like, maybe, like, birthday three? Jason: But I guess there-, there is a point there about-, we just don't have-, we're not big enough to spend millions on a full page out of the FT, or hire out an airport, and there's-, what places can we make an impact, and actually break through the noise? And also, what can we do that competitors would find it very difficult to do? Because I struggle to think how one of the Big Four consultancies could drink beer, swear, you know, in a big bank boardroom in Canary Wharf, and get away with it, and, you know, not be escorted from the building. Simon: And have credibility doing it, and deliver real value, at the same time, and not be doing it just for effect-, Ollie: Yeah. Simon: And I think that's the thing. We-, it risks being seen as a gimmick, when actually. it's-, it's authentic. Like, it-, it's just us being real, but also, here's all of this content density, here's all of this content knowledge, here's all of this insight, here's all these people that have done it before, or who are doing it, and, like, let's peel back the curtain and show you, because that's-, that's the way you start to believe it. Jeff: Well, I think that's-, that's pretty key. So, this isn't just theoretical stuff, we haven't just read a bunch of articles and a bunch of books, and claim to be an innovation expert. This team has done this stuff before. David: It's-, it's fascinating, isn't it, to have seen that reaction, you know, I-, I love the-, you know, we've talked a lot about the, you know, using B2C methods to activate from a B2B perspective, you know, like, that is-, that's not something that anybody else, I don't think, has done as effectively-, Ross G: Yeah, that's key. David: In terms of the way that we were going after it. Simon: There are other podcasts out there, and they tend to-, you know, and big companies have podcasts, but the brands that tend to have podcasts aren't the big companies, and-, and that, sort of, a different type of consulting company, a different type of voice, I think there was a gap in the market for it. But we-, we do more than just the podcasts, Ollie, I mean, we do work directly for clients, as well. Ollie: Yeah, so this is something that's, sort of, emerged in the last few months, that, um, because I have a world-class production team that works with me, our content stands out a lot, and it's not just the standard, sort of, Sky News interview, at a conference, it-, it's not that, let's call it, stiff content. And the stuff that we've produced has turned some heads, and now people have started to approach us, to make videos, to help them out with podcasts, to inject some of our lifeblood in to them, to sort of help them step away from the noise, and I think that's the key thing here, and why we have clients come. There's so much noise in this industry, there's so many people shouting, and what we can provide is a new stream for them, and take-, take them well away from the noise, and really give them some focus, and that's what I can do with my team, because I have world-class content people, I have world-class production people, that are here, really pushing for something much, much bigger than we're, sort of-, we've ever achieved before. Simon: And you've got access to relevant content knowledge, right at your fingertips, as well. Ollie: Exactly. Jason: And I think, even more surprising, you're not a cost centre. You actually generate money for the company. I mean, it's one thing to say, "Great, we're doing all of this media," but because we've just-, we focus on content, and then get an audience, and then people want to be associated with that, we have podcast sponsors, we have people who come in, who sponsor events, and a variety of things. That, for me, is amazing, like, that we can-, that you can be building a media team and a marketing team that actually makes money for the company. Ollie: So, I mean, I think this speaks to something that David said before, like, no one in this company is a cost centre, like, every-, and to speak to Sophie's point, as well, like, everyone here is an expert in what they do, they're really passionate about it, and they have the drive to almost create a little mini-company around themselves, um, and obviously that's, sort of, happened with the Media Team, we are an entity that, um, can drive everything forward, but to play to Jeff's point, we're part of the team, and we're here to support the Consulting Team and the Research Team, and I-, I enjoy that we can stand on our own two feet and, sort of, like, stand right next to consulting and be like, "Yeah, we're a big player in this, too." Jason: Mm. Ollie: And also, that we are aligned to everything that 11FS do. It's not, sort of, like, a marketing team sort of whittling away in the background and going, like, "Oh," like, "How can we spin this so it's better?" No. We're just part of it. And, um, that's really special to me. Simon: We're in it day to day. So, what's next for 11 Media? What's coming up? Ollie: Uh, more video, um, so starting with Homescreen, which you can go and see on the 11FS YouTube channel, um-, Ross G: Amazing! Ollie: So, um, but, from there, we'll be filling out our programming slots over YouTube. We've got some new formats coming down the pipeline, for Fintech Insider, and, obviously, keep coming to our After Dark events, they're going to get bigger and better, and if you're in San Francisco, please come, um, I'm looking forward to stepping back to (? 51.31)-, Laura: Also come to London. [Laughter] Simon: Don't forget London! Laura, I love that you threw that in there. [Laughter] Simon: Alrighty-, Jason: I love the fact you think that Ollie would gain people who might have come to your thing. It's like, "Oh, well-," [laughter]. [Laughter] David: Bizarrely, there's been a few! There has been-, there's been, um, some-, there's a few Londoners who, uh, happened to be over in the US, but I think the longest commute, was it somebody's traveling from Canada, to go to San Francisco, to just watch that show? Laura: Yeah, I-, I believe that's Bob. Shout out Bob! [Laughter] Yeah-, David: Which is kind of cool. Simon: To close out, I want to get a highlight out of everyone. What's been the best thing about the last year, or however long you've been with us-, or the best thing about this year, for you? So, I'm going to start with Ross M, Boss Ross, as we affectionately call you. Ross M: There's so many things, it's really hard to identify one thing, like, really. Um. If I was to try and name one thing, just to, kind of, come back to the people, I think, you know, just the sheer talent of the-, the team that we've-, we've grown out, you know, I guess we-, we always knew the people we were going to hire were going to be good, but they always prove to be just great, and you see it in the-, in the results, so it's-, people just constantly exceeding my expectations, I think, is my highlight. Simon: Alright. Ross G? Ross G: Yeah, I mean, I'm largely going to echo Ross M's point, I think, um, obviously in the fact that, yes, there's been so many highlights that it's hard to pick one, and I've only been here for half the time. I think, for me, it's probably been getting out to conferences, it goes back to what I said earlier, and talking to people, and just the-, the awesome response that we get, and-, I just love talking to people about fintech, it's great. Ollie: You really do! Ross G: I really do! Simon: You just love fintech! Look at that face! Ross G: It captures people's imaginations-, [Laughter] Ross G: It's awesome. Simon: Alrighty. How about you, Jason? Jason: I think it's-, it was the first deal-, the first really big deal we won, when we were against the big boys in the industry, the global players, that we had no-, you know, no real way of-, of competing with them on size, and revenues, and everything else, but to have some super senior, like, C-level execs of some of the biggest banks, turn around and say, "We're going to-, we're choosing you," you know, "You're going to work with us to build a new bank, to build a new proposition," uh, and to-, to win that first deal, it was like, "This is going to work." Like, you know, "This is-, this is it." Um. I think those moments are special. Simon: They are special moments indeed. How about you, Jeff? Jeff: It sounds a bit cheesy, but I've-, I've-, I don't think I've ever had so much fun doing what I'm doing, and-, Simon: Aw! Jeff: To build on-, to build on-, aw! Aw! Aw! [Laughter]. I think to build on-, to build on what Ross said earlier, the-, the-, the talent is amazing, I've only been here for a couple of weeks, but even since I joined, so much amazing talent, and a bunch of superstars have joined the organisation, we have a whole bunch of other people joining the Consulting Team, in the next couple of weeks, and I think, you know, looking at all the stuff that we're working on, I think we're well on the way towards world domination. Simon: It's a fun time, isn't it? Sophie, speaking of bringing people in, what about yourself? Sophie: My-, my highlight, if I'm being very, very honest, hypergrowth is my jam. That's the kind of thing, I love doing it. But-, but, more importantly, the biggest highlight is having to do that here, because I've got all the support in the world, and actually start off right, which is so important for a company. Simon: Hear, hear. Thank you so much. Laura? Laura: Well, it's hard to pick one, really. Like, as Ollie said, like, the-, the role that we, kind of, joined to do has, like, massively snowballed, there are so many high points. I think, um, as a content writer, watching something like After Dark, that you write, and it happens every week, and you don't see the people that listen to it, to actually see them there, in front of you, enjoying the show, is-, is amazing. And another personal highlight would be making my Fintech Insider debut on International Women's Day, uh, and the, kind of, all-women show that we did, that had a really amazing response. Simon: Huge highlights. Ollie? Ollie: I think my highlight is, like, our audience, and everyone that we work with. I think we've built a really, really good community around the podcast, around, like-, and it's-, it's not just the Media Team, it's also around the consulting work, it's also around the research work. Like, to build off Laura's point, with After Dark, we have a huge smattering of people that come from all different walks of life, and they're super active on social, like, they always want to come and meet the whole team, not just, sort of, the guys on the podcast. So, yeah, like, to do what we usually do on a Friday, highlights, lowlights and shout outs, my shout out is to the people that listen to the show and work with us. Simon: Brilliant. Shout out to all the people that listen and work with us. David, how about yourself? David: Um. Again, I think there's just too many to-, to, sort of, pick out just one, really, so I'm going to do three-, no, I'm not really-, [Laughter] David: Um, I guess there's-, there's-, there's a few, though, to be honest. I think the-, uh, as Jason said, that first massive win, you know, to have taken something that was an amazing project to be able to do, and have brought that from two massive companies, like, super, super proud of that moment, and I think, like, my hand still stings slightly from the high five, which is-, [Laughter] David: Which is kind of good. And I think the other one was, like, the first After Dark. Like I've said to-, I think I've said to all you guys a bunch of times before, like, I never had birthday parties when I was little-, like, this is like, where you play the, like, the little violin, Michael, alright? [Laughter] David: But it was kind of like-, I was always scared of throwing parties where nobody'd turn up, d'you know what I mean? Like, just the fear of doing it, if nobody turned up, what would happen, type thing. And then when Ollie and the media guys-, Ross G: It happens that we're doing this in London, and not in Norwich, though-, David: [Laughter] exactly-, when Ollie and the media guys put that party on, and all of those people, sort of, turned up to-, to see us record something that we would just do for fun anyway, that's huge, um, and I think probably, like, really bizarrely, the moment that I knew we were, like, really on to something, was when I saw-, randomly saw some dude wearing a-, a Fintech Insider t-shirt on the Tube, who I had no idea who that guy was-, [Laughter] David: Like, just the quantity of-, of love that we've had for the podcasts, and all the media that we've done, has just been outstanding, so, um, yeah, they're three, but man, there's a lot more. Simon: Oh, there's so many more. Just for myself, it's working, as Jason said, and it's fun, but it's hard work, like, but I really enjoy it. I think Ross G touched on it, but it's-, I really love this stuff. I love fintech. I love-, but I also love executing. I love end product. I love seeing it in market. That's what really gets me out of bed, and I think we're surrounded by people who deliver end product, whether it's a podcast, whether it's a blog post, whether it's, uh, jobs to be done, whether it's working bits of code, whatever it is, people ship, and being around that is really, really addictive, and-, and fun to be around. So, thanks to all of you, I could shout you all out individually, but that would be a whole other show, it would just be Simon thanking people-, [Laughter] Simon: Like some weird awards show, so I'm not going to do it, um, but I get emotional like that, and I care about you all, people. [Laughter] Simon: Alright, that wraps up a very, very special Fintech Insider show. We hope you've enjoyed our birthday party, and our trip down memory lane. As always, if you want to get in touch, you can find us on Twitter, Instagram, Facebook, LinkedIn, YouTube, just search for Fintech Insider, search for 11FS, we're kind of omnipresent, that's a bit weird. Um. But if you like what you heard, subscribe to all the things! Subscribe to the podcast, subscribe to YouTube, and leave us reviews, leave comments, as well, that-, that helps us out massively, and do stay tuned for our transatlantic After Darks. And last but not least, let's get the Twitter handles from everyone. Let's do this! David, your Twitter handle, sir? David: @davidbrear. Simon: Ollie? Ollie: @olliejudge. Ollie, spelled O-l-l-i-e, because that's the only way you spell Ollie. [Laughter] Simon: Laura? Laura: @Loella172. Simon: Sophie? Sophie: @SophieTheen. Simon: Ross? Ross M: @rosco_methven. Simon: Yeah! Ross G: @RossGallagher07. Simon: Jason? Jason: @JasonBates. Simon: Jeff? Jeff: @JeffTijssen Simon: And @SYTaylor, or @11FSTeam. Thanks very much for listening, that's all for now, stay tuned for our transatlantic After Dark coming at you very, very soon, but for now, goodbye. END OF AUDIO 00:59:05 END OF TRANSCRIPT