Atomic says it develops software that allows Fin techs and
banks to easily integrate investing into their products. In
november, the company announced its launch along with the
$25 million series A funding round here. Now to
discuss is the co founder and ceo of Atomic,
David, Dendy David. Welcome to the show.
Atomic says it helps Fintech sandbanks grow their profits while
enabling customers to build wealth. Can you offer more
details about what Atomic offers to both companies and consumers
alike? Well, what we do at Atomic is
that we provide infrastructure and regulatory solutions to allow fin
techs, banks and credit unions to very easily offer
investing. And part of the reason why these companies
want to offer investing is to develop a holistic financial
relationship with their end users. That includes financial planning
and growth. The challenges that these companies faces.
You know, investing is incredibly complex. It requires
them to be regulated by the sec or by Finra
requires them to build the middle office and back office
operations that we've done all the heavy lifting for them
so that they can just focus on product and we'll
do the hard work on the back end. Atomic
says it's targeting jen's ears with its platform. Why
focus on these younger investors? What is Atomic doing
to reach this younger demographic? I think it's very
important to focus on these younger investors as they will
be the market of the future and the investors in
the future. And what we're doing to reach this
demographic is two things. The first is that we're
offering our services where they are already, they already
um have already have relationships with fintech apps with banks
, they are digital. So that's one thing we're
doing. The second thing that we're doing is that
we're offering capabilities like direct indexing at zero con minimums
. This means that gen z investors can hold a
portfolio of many different stocks and they can enact their
values in that basket in the sense that they can
decide whether or not they want to include companies that
are involved in fossil fuels or not, whether they
want to include companies that are involved in tobacco or
not. And so giving people that flexibility and that
customization is part of what we're doing to allow gen
Zs to have more control over their money. This
is what's so interesting about atomic. One of one
of the many things the company says that you offer
a broad range of investment services at zero account minimums
. Can you tell us more about what that means
? Well, um, services like direct indexing which
essentially entails having a user have a portfolio of 80-100
. Even more stocks typically required an account balance of
about$100,000 to$500,000. And so these services are
only available to people who had large account sizes naturally
. What we've done on our side is we've built
our technology from the ground up to enable people to
actually have such type of exposure, which has only
been limited to people with larger accounts to be able
to have it at smaller account balances and so that
means that anyone can get started, anyone can participate
in direct indexing and anyone can benefit from some of
the the benefits that come from direct indexing as well
. Atomic also recently announced a new partnership with the
platform upside for our viewers that don't know, it's
an app that transforms student debt into investment opportunities.
I wish I had that when I was in student
debt. Can you share a bit more about how
atomic will be working with upside? It's funny you
mentioned that because many people, once they hear the
partnership also say that they wish that they still have
student debt to be able to benefit from these services
. Essentially what we're doing with the upside is that
upside is allowing students to refinance or individuals to refinance
their student loans and benefit from lower interest rates and
to use the monthly savings as a conduit towards their
retirement to essentially reinvest those savings so that they can
build wealth while paying off their student loans, both
at the same time. And so this is a
facet of our infrastructure that we're very proud of,
essentially allowing companies to offer these multidimensional types of investing
experiences that allow users to benefit from some of the
financial hacks that typically aren't available to most people.
How well well, first congratulations on the new funding
round, how will atomic use this money. So
we're using it to scale up today. We have
partners that service over 30 million users. And so
we're using the funding to essentially scale up our systems
to be able to accommodate millions of accounts on our
platform. Atomic has shared that you you guys have
a handful of employees who are based in Ukraine.
How are you navigating the conflict when it comes to
your employees who are impacted there, David. It's
sad to see what's happening in Ukraine and if there's
anything that we've learned over the last 12 days is
that the Ukrainian people are incredibly courageous, resilient and
defined. And so we've had to relocate several folks
within Ukraine and as well as outside of Ukraine.
But we feel that it's very important to allow our
employees to have the space and the time to spend
working on things towards defending their country. And so
we've seen several of our employees build resources tools,
websites for fundraising purposes for awareness purposes and we're very
supportive of that. David, indie co founder and
Ceo of Atomic. We really appreciate your time today
. David, thank you so much