Jeff Marsden, Chief Product Officer at PureFacts chats about AI in fintech and how it’s enabling better investment cycles in today’s financial ecosystem in this catch-up with Global Fintech Series:
___________
Tell us about yourself and your role at PureFacts. We’d also love to hear about your time in fintech through the years?
My title is Chief Product Officer at PureFacts where I’m responsible for our global product portfolio. What that really means is that my team listens to our clients and the market, anticipates how client and market needs will evolve, create innovations that unlock value in their revenue lifecycles and help ensure that our products create amazing utility for our clients as efficiently and easily as possible. Prior to joining PureFacts, I held various roles and first entered the industry in 1998 when I founded a fintech company called PriceMetrix, which is now a practice management software for wealth managers.
Tell us about some of the most recent product developments and enhancements at PureFacts and how they are changing the game for the investment ecosystem?
The past couple of years have been incredibly busy as we’ve been building our End-to-End Revenue Management platform—a game changer for our clients. Key milestones in this journey include the acquisition of Xtiva in 2023 and the recent addition of GrowthCurve as our strategic capital partner. We’re now focused on integrating these components to empower wealth managers, asset managers, and asset servicers to manage and optimize their entire revenue lifecycle using our PureRevenue Platform, which offers a single system of record for revenue management.
How is AI enabling better investment cycles today? Can you talk about some of the innovations in AI in this process that have piqued your interest from around the world?
We have an innovation team at PureFacts that is working with our clients every day to identify ways we can help them do the ‘everyday’ work faster and easier. That’s the not sexy but impactful stuff that can quietly make a big difference in the lives of users. And don’t get me wrong, we are working on some amazing AI fuelled innovations (the sexy stuff), that will be a game changer impact for our clients.
I’m a keen observer of AI application in the traditional wealth management and asset management services. The leverage AI provides to advisors, particularly in how they support and engage with clients and deliver core values like financial planning, is fundamentally transforming the advice proposition. On the asset management side, the use of data science and AI to enhance the investment management process is significant and can’t be ignored, as it’s delivering real improvements in the quality of investment outcomes.
Read More : Complaint Management and Compliance: Where AI and the Human Touch Coalesce in Fintech
What about today’s state of fintech excites you most?
I’ve been ‘in fintech’ for a long time. There have been a lot of cool innovations over the years that made life better for clients, advisors and financial services firms. Each new development builds on the last, creating more efficient, personalized, and impactful solutions that truly enhance the financial experience for everyone involved. The pace at which technology is evolving and the endless possibilities it brings for the future is what keeps me passionate about this industry.
In what ways do you feel the global fintech market is set to shape up and what direction would it move in given the recent enhancements in AI in this space?
The size and consistency of the demand in the financial services market is tantalizing to innovators. This is not new. There have been thousands of innovators over the past couple of decades who have been locked in on targeting the economic rents of the incumbent providers. There have been a few wins for sure, but most have had a modest impact on the incumbents. In fact, some of the most significant changes have been incumbent as innovators.
I believe we’re on the brink of some major changes. Game changers have happened before—without AI—so just imagine the impact AI could have by amplifying human capital. Consider the magnitude of past shifts, like the mutual fund boom in the 90s or the evolution of ATMs from simple cash dispensers to more comprehensive service providers. These innovations have now been overtaken by the fully digital landscape. With AI, the potential for transformative change is even greater.
Five myths about modern fintech you’d like to bust before we wrap up.
I find the idea that “if you build it, they will come” is misleading—success in fintech requires more than just a great product; it demands strategic marketing and a deep understanding of customer needs. Second, the notion that big firms can’t innovate is outdated; many large companies are leading the way in fintech innovation by leveraging their resources and scale. Lastly, ignoring demographics is a critical mistake but instead understanding and catering to diverse customer segments is essential for growth and relevance in the fintech space.
Read More : Global Fintech Series Interview with Frank Pagano, Executive Sales Director at VizyPay
[To share your insights with us, please write to psen@itechseries.com ]
PureFacts is a leading provider of end-to-end revenue management solutions for wealth management firms.
Jeff is the chief product officer at PureFacts, with extensive experience in enterprise growth, product strategy and financial technology, Jeff leads the development of innovative solutions that address critical challenges in the financial services sector. His expertise spans from startups to established companies, with a focus on unlocking revenue opportunities and optimizing operational efficiency in wealth management. Under his leadership, PureFacts has secured significant strategic financing and forged partnerships with major financial institutions.
