And we think that mobility and controlling the intersection of mobility is the answer. They have relatively the same technology today they had 30 years ago, and we just felt that the marketplace had moved. I was involved with Care Credit in their early days. And when we looked at patient finance, and consumer unsecured consumer finance. And we’ve had several other startups to public exits over the last 20 years. We sold that to Kodak in 2003 for just about a half a billion dollars in cash. And then we got into technology and software and building a desktop management software system my partners, called practice works, which was a wildly successful kind of transformative software that allowed the paper systems to be replaced with technology and automation. And so we started by teaching doctors how to do new procedures that would benefit their patients. Which today, creating a digital learning experience in 2022 is not novel, but back in 1987 it was. It’s funny, I started my first business when I was 23, right out of college, and it was an education business to train dentists on Aesthetic Dentistry, and how to create comprehensive aesthetics. How did you find your way into FinTech in general? And so we think that we’re increasing the access for consumers to really high quality health care, and we’re playing a very important role in that process. And if they can’t fill that gap in a responsible way, their choices are to defer stage or even abandon care. Most patients out there don’t have sufficient insurance coverage. And when you look at how technology has changed healthcare, you think about products like Invisalign, where now you can actually change your smile and do it in an elective procedure and having resources that allow you to have a budget where you can have a monthly payment that you can afford, and then be empowered to say yes to the treatment that you deserve and look to secure, that is entirely our business proposition. And oftentimes, people neglect to really understand how finance is linked to treatment acceptance, and the ability to say yes. We believe in a culture of Yes, and patients deserve to get the care that they so desire. Yeah, look, we have been in the healthcare space for three decades. And even if there was more liquidity, there’s also that feeling of’ is this the right place to spend this large amount of money right now in this moment?’ And I just had a hard time saying yes, and I think a solution like this could have absolutely sped up the process for me, because having all that orthodontia work has really changed my life. And for years, I had put off the work that I needed to have done because of that same sort of liquidity situation you’re talking about. I’m wishing I had known more about you, because when I went through sort of a large orthodontia experience, I actually chose my orthodontist based on the fact that they allowed in house payment plans. I should let you know in setting the stage for this conversation that while I didn’t necessarily become a client of iCreditWorks, mainly because I just now learned about you. And we just think that’s an important movement as we as we move forward, And we believe in being transparent and compassionate to our consumer applicants. So when we talk about patient finance, or consumer finance, we really think that alternate platforms have a big position and a growing position in today’s market. And therefore, they really use their Visa, MasterCard for that unexpected car repair or loss of a water heater. And the average consumer has about $400 worth of liquidity. Well, it’s clear today that the consumer is really struggling to find alternate means of credit that they can use to address, you know, a variety of factors within their life. I want to kick off our conversation with a bit of a broad question just to set the stage for the topic that we’re exploring, why is personal financing so important? Joining me is Stephen Sweeney, the Chairman and Founder of iCreditWorks, a native mobile app that delivers a simple, seamless and secure financing experience that redefines the consumer journey. And today, we are going to be discussing a niche topic in the world of personal financing, dental financing. Hi, everyone, welcome to another episode of Pay Pod. Subscribe to the Show: Apple Podcasts | Spotify | Google Podcasts | Show Hub.Connect with the Show: LinkedIn | Facebook | Twitter.Connect with Stephen Sweeney: Connect with iCreditWorks: LinkedIn | Facebook | Twitter.The importance of prioritizing security and privacy of consumer data.How finance is often linked to to the ability to say “yes” to necessary dental care.The importance of transparency and compassion in lending.Why personal financing options are essential for the average consumer.Payments & Fintech Insights In This Episode
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