Fintech Impact – Making Data Move Forward for Financial Services

Original appearance on Fintech Impact, hosted by Jason Pereira.

Jason talks to Jud Mackrill, Co-Founder of Milemarker. Milemarker is a data solution company that helps financial services companies in an IaaS (Integration as a Service) specifically integrate data across many different platforms to get things talking to each other.

Episode Highlights:

  • 00.36: Milemarker is born out of many years of frustration in the financial services industry.
  • 5.02 Mackrill says that they find themselves more helping companies achieve a data warehouse experience whether they want to aspire toward a data lake or not. This is because data lakes are fundamentally unstructured data.
  • 6.04: Jud says they see a huge opportunity to take every piece of information in their license data and help a client start to be actionable, experiential, and ultimately automated and efficient.
  • 8.24: Jud says that they provide software which is our API technology, our data cloud, and our ETL processing in which the rules engine says, here is what your data is doing and when and how quickly it refreshes.
  • 11.01: Jason asks, with cloud-enabling COBOL, are you giving a solution for a problem that shouldn’t exist first? Because no one in the 1950s thought that this COBOL stuff would be used in the 2020s.
  • 13.25: Jason inquires, what kind of case studies do you have to show that you have saved X number of hours or provided X number of abilities for someone to scale larger?
  • 14.34: Jud suggested that they should be limiting the liability inside the firm by automating everything possible so that people can be more onward and upward in terms of their day-to-day.
  • 24.16: Jason asks what advice would you give to people who maybe don’t qualify the level to work with you or want to get started at taking control of their data and standardizing their digital processes?
  • 26.51: Companies in the future will have to be SOC 1, SCO 2, and ISO certified, and understanding what that means today will dramatically improve your long-term value, says Jud.

3 Key Highlights

  1. Jud is a creative person and has been a marketing officer at multiple firms, and his entire goal is to help financial services companies that are inherently creative to achieve creativity with data and solutions that they need.
  2. The future of a financial advisor is made inside a financial services company, and the maximum of time is going to be spent on cloud collaboration than you even realize.
  3. If you are unwilling to invest the time to standardize and create a process or recording or something repeatable out of financial service, you are just not solving your solution, suggests Jason.

Tweetable Quotes

  • “If you have a no-code system that you can integrate APIs into, let’s do it. We will continue making it a more efficient experience for people to use their data.” – Jud
  • “People often have a tough time expressing what they want, and getting into financial tools and understanding them allows them to say, this is what I wanted.” – Jud
  • “You have to have people that have the tenacity to grow and build and prove themselves and are constantly looking for an edge.” – Jud

Resources Mentioned:

Author avatar
Jud Mackrill
https://www.milemarker.co
Serving Financial Advisors since 2004, Creator of Award Winning Technology and Companies. CEO @ Milemarker. InvestmentNews 40 Under 40. Winner, XYPN Fintech Competition, Winner Fuse Best Advisor Innovation

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