October 23, 2024 • 17 mins
I spoke with Ari Kornhaber, the Co-Founder and Head of Corporate Development at Esquire Bank, a national commercial bank. We discussed the unique business challenges facing contingency fee law firms, the resources Esquire Bank offers trial lawyers, and how banking is evolving.
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Transcript
Episode Transcript
Available transcripts are automatically generated. Complete accuracy is not guaranteed.
(00:27):
Great, thank you, Ari, how are you?
Well, and I'm looking forward to this conversation, so tell us about your background and the genesis
of S.W.I.R. Bank.
So I was a personal injury lawyer in New York City, representing injured plaintiffs in personal
injury, medical malpractice, and eventually mass-tort litigations.
I worked at two different law firms, learned a lot through working at two different companies,
(00:52):
and the second one made it very clear early on that nobody becomes an equity partner at this
law firm.
So I made most of my time there, learned a lot, but at some point I no longer felt like
I was getting out as much as I was putting in.
So I came to this Crossroads in my professional career and came to the decision that I needed
(01:12):
to do one of two things.
One, start my own law firm, which wasn't appealing to me, trying to originate new personal
injury business in New York City, was not appealing to me, or do something more entrepreneurial
in the world of business.
And that's the path I ultimately took.
One of my closest friends from my childhood called me one day and said, "Ari, I know you're
(01:35):
not happy where you are any longer, and as your friend I thought, what could I do to help?"
He said, "My father and my uncle are investing a lot of time and money into some new finance
company."
It's related to the law, but I don't understand it.
And they're looking for a young lawyer to come in and help market this financial service
to other lawyers.
(01:56):
And I told them all about you and they really like to meet you when you take the meeting.
And I said, "Absolutely.
Generally speaking, I take almost any meeting that's offered to me.
It's rarely a waste of time.
I could learn something or learn something about myself.
And in this instance, my good friend, his father and his uncle were also billionaires.
So that was another reason I was intrigued by the meeting.
(02:18):
So I went down to Brooklyn, New York and I met with four gentlemen who had this brand-new
startup.
And it was the first litigation funding company in New York, the first Laintiff funding company,
the first non-recourse funding company called Law Cash.
And we had a great meeting and eventually they said, "Listen, we'd love for you to come
(02:39):
join us.
We'd like to make you the National Marketing Director.
We'd like you to travel around the country and meet with law firms, build real relationships
with trial lawyers and hopefully they'll refer their clients to us."
Long story short, I said, "Yes, I left a practice of law and joined Law Cash and helped grow
Law Cash to become the largest plane-to-funding company in the country at the time."
(03:02):
One of the most interesting things about Law Cash was that they had this advisory board,
comprised of past presidents of different state trial lawyer associations and a National
trial lawyer association.
And we shared with them that our long-term vision, which was already to one day become the
one stop financial resource to contingency fee law firms and their clients.
(03:27):
A few years later, two of those lawyers on the advisory board came to myself and the executives
at Law Cash and said, "We have an idea for you.
Start a national commercial bank that takes the time to understand the business of being
a contingency fee law firm because that doesn't exist today and I'm telling you, we need
(03:47):
that."
So that was a germ, a genesis of the idea was listening to past presidents of different
state trial lawyer associations who recognized a need and brought the idea to us to see if
we could fill that need.
What are some of the unique business challenges facing law firms today and specifically contingency
(04:07):
fee law firms?
So contingency fee lawyers do not get paid unless and until they successfully resolve a case.
Cases that are in litigation in our experience, we've been doing this now almost 18 years,
take on average between two to three years to monetize.
So that business model creates a regular cash flow.
(04:31):
It's extremely lumpy.
There's ebbs and flows compared to almost every other business out there, right?
These lawyers are working on cases for years before they get paid.
So because of that irregular cash flow, traditional lenders do not like lending money to them.
Traditional banks think there's too much actual credit risk lending money to a contingency
(04:53):
fee law firm.
And let me pause for a second.
When I say contingency fee law firm, that comprises of personal injury law firms, social
security disability firms, workers compensation firms, class action firms, mass court firms,
and others.
So there's a lot of them out there.
I'm talking about a total address of a market that sees about half a billion dollars a year
(05:16):
flow through these lawyers to their clients.
So traditional banks historically don't like lending money to these businesses primarily
because their cash flow is extremely irregular.
Additionally, these law firms don't have any assets on their balance sheet.
Moreover, these same law firms don't have an inventory that a traditional lender
(05:37):
could walk into a warehouse and feel these are not widgets.
These are cases that by their very definition may be worth zero or may be worth some of money
at some point in the future.
Traditional bankers think there's again, too much actual credit risk there.
These same firms also have no AR, no accounts receivable.
A lot of lenders can lend against AR that monetizes every 90 days or less or if they're aggressive
(06:01):
180 days or less.
Again, we're talking about cases that take years to monetize.
So that created this need in the marketplace.
Most of the contingency fee law firms out there today are still self-pannanced.
Meaning they're not borrowing money.
Why?
Because traditional banks, I just explained, well, lend them money.
(06:23):
So they're using the revenue from the cases that they resolve to run their business and
try to grow their business.
And often the growth is stunted because of that.
And because of that void, specialty finance companies have emerged.
There's a lot, thousands of them, litigation funding companies that provide capital to law
(06:44):
firms for their business needs.
So while traditional lenders think there's too much actual credit risk lending money to these
firms, Esquire Bank feels very differently because we took years studying this business.
And what we've concluded is really good contingency fee lawyers are very selective in terms of the
(07:06):
cases that they elect to work on for obvious reasons.
They're not going to get paid unless they're successful.
And these attorneys are successful.
These cases monetize over 95, 98% of the time.
So to us, it's not an actual credit risk.
These are perceived credit risk that we've called a duration risk, okay?
(07:29):
And that allows us to do what other banks don't do.
What litigation funding companies do, but because we're a national commercial bank with money
on deposit, those are the funds we use to finance these law firms.
We provide our financing at bank rates.
Besides the lending, what resources does Esquire Bank offer trial lawyers in terms of empowering
(07:51):
them to sustain their business and grow?
Every law firm needs to work with a bank.
They have special types of accounts, Iola Iolta's Esquire account.
We provide all of those depository services without charging them anything, by the way.
So they need all of that.
We provide that most banks provide that.
However, there are some unique types of accounts that class action and mess toward law firms
(08:13):
need when they're resolving cases for multiple plaintiffs at one time.
And those accounts are called qualified settlement funds.
And most banks don't even know what a QSF is, whereas we have a whole department that services
those unique needs.
Beyond that, we touched on some of the financing we provide.
We provide tailored financial solutions for each law firm that we work with.
(08:36):
No two law firms are exactly alike.
Therefore the financing we do literally has to be tailored for each one.
It's a very unique approach.
But beyond those traditional banking services Esquire bank provides many other resources.
In fact, now that we've been doing this almost 18 years and we've been working with some
of the most successful contingent C.P law firms in the country, we've had an opportunity
(08:59):
to study our clients.
If we see that a law firm, Ari, for example, has grown over 300% over the last three or
four years because those law firms share their financial data with us and their case
inventory data with us.
We dive into that data and intelligence and analyze it and actually write case studies
about it and then show it back to the clients and say, do you realize that you grew 325%
(09:24):
over the last 40 months?
And we have a conversation about how they used the access to our capital to invest in
that type of growth.
And we add that to the case study.
And then with the law firms' permission, we shared those findings with the rest of the
legal community.
We really believe in that rising tide theory.
So much so that we created a digital content hub called lawyer IQ.
(09:49):
And the motto is lawyer IQ means business.
The things they didn't teach you in law school.
It's amazing how contingency fee lawyers will admit that they could pick up a file they've
never seen before and try that case the same day.
However, when it comes to running their law from like a business and talking about budgets
and their P and L and balance sheet, that's where they're not experts.
(10:12):
They didn't most of them get an NBA.
They got a JD.
They didn't go to business school.
So what we learned from other law firms, again, we share that with the legal community
on lawyer IQ where attorneys can go and there's different channels about intake and marketing
and obviously finance legal tech growth.
So there's videos and white papers and case studies.
(10:33):
And then beyond that, because we work with so many different law firms now who each have
their own areas of expertise, we connect our clients.
When we hear that a disability attorney has the ability to originate mass tort claims
because their clients don't just have a disability claim.
They've been taking a drug that's been recalled, but the disability attorney or advocate
(10:56):
doesn't know what to do with that.
They'll often reach out to us because we have these great relationships with the leaders
in the mass tort litigations and we just bring great people together and often that's great
for them and eventually comes back to us.
So we do a lot more than just provide depository and lending services.
Is your work concentrated in specific jurisdictions where the personal injury dockets are most active?
(11:23):
Yes and no.
We started at Squared Bank in New York.
So the majority of our clients because we've been there now for so long are from New
York and I bet you can guess where the other pockets of business come from.
California, Florida, Texas, Pennsylvania, but we have clients all over the country in some
(11:44):
of the biggest cities and some of the smallest towns.
Although every law firm is different, many of their needs are very similar and because
we're uniquely qualified to service those needs, we're able to reach these attorneys in
a variety of ways.
We're very active with the associations that these lawyers are members of, right?
Lawyers need to take continuing legal education courses and every two years affirm that they've
(12:07):
taken their requisite courses, including ethics courses.
So we partner with these associations so that we can educate these lawyers about how to
run a law firm like a business.
Again, they're not just practicing law, they're running a business.
We bring what we've learned to them through the associations and to lawyers all over the
country.
How do you see the banking landscape evolving as it relates to serving niche market segments
(12:31):
like legal?
I think more and more banks are actively looking for underserved markets, these niches,
right?
So we found two of them, obviously contingency fee law firms and then we completed an IPO
in 2016, we're now on the NASDAQ under the ticker ESQ and at the time, we were really surprised
(12:53):
to learn that out of 10,000 banks in the country at the time is probably 4,000 now, only 80
of them were doing something called merchant processing and all that is the processing
or clearing of debit card and credit card transactions for small businesses.
So we invested a lot in the technology and the talent and approached that market the way
(13:16):
we do in the legal community with the relationship first.
And now S-quare bank is processing debit card and credit card and no ACH transactions
for about 85,000 small businesses in all 50 states and we'll process well over $40 billion
this year.
So the point of telling you all of that is there are other niches out there, but you just
(13:36):
need to have the drive to go out there and look for them or look for consultants who could
find them for you and invest in the due diligence that it takes.
You need to speak with attorneys and consultants to explore these niches, but I think more
and more professionals are looking for experts, right?
(13:59):
There are a lot of banks that all do the same thing.
Residential real estate loans, commercial real estate loans, auto loans, credit card issuing,
I think there's a real need where proof of it that if you could find a specific underserved
market, then the market is open and would welcome those types of tailored financial services.
In what ways do you see technology both automating the way that banks operate and yet enabling
(14:26):
them to balance out the need for personal service, particularly in a market like legal?
We've embraced technology very early on.
When we started the bank, we had permission to open five branches in the first five years.
We opened two, then something in banking happened called Check 21, which was the Fed Fund's initiative
to go paperless in deposits, right?
(14:49):
Prior to Check 21, the paper instruments, the physical checks themselves, how to be sent
to the Fed Fund for processing and clearing.
Post Check 21, you were allowed to deposit electronically through something called remote
capture, right?
So today if you walk into any bank branch and you hand a teller, a check and a deposit
to let that teller will scan that check into the account where it's to be deposited.
(15:14):
When Check 21 happened, we made the business decision to no longer open multiple branches.
We believe that we could invest in the technology and also the customer service behind it.
You need both.
One without the other does not work.
And we're a proof positive that it does work.
I think the pandemic has forced banks to recognize that they needed to embrace the
(15:37):
technology that we were embracing earlier on during COVID.
Branches were often closed.
People didn't want to walk into a branch and have a face to face conversation with a teller.
They wanted to be able to deposit with their phone or with some other commercial check
scanner if it was through their business.
So yeah, it's much more efficient to do it that way.
(15:57):
Instead of filling out deposit slips and making copies of front and back of the check and
walking to the branch and waiting online and handing an individual the paper instrument,
that check could be deposited from your desk without the need of a deposit slip without the
copies.
It's all done electronically.
Same thing with dispersing funds.
We promote ACH and electronic funds transfers so much more than continuing to write checks.
(16:22):
There's a lot of check fraud out there.
You should be mitigating your exposure by doing as much electronically as possible.
But again, you need to have that white love personal service behind it.
And it's difficult for some institutions.
Any answer every call if you call us where bank you're not waiting on this electronic voice
recognition representative where you ultimately get someone out of call center who's got no
(16:44):
authority.
So instead we bring decision makers to the relationship with direct phone numbers.
And I think it's a really important component that needs to complement technology in order
for banks and law firms to be able to embrace emerging technology.
This is Ari Kappla and speaking with Ari Cornhaber, the co-founder and head of corporate
(17:05):
development at S.Quare Bank, a national commercial bank.
Ari, thanks so very much.
My pleasure, really enjoyed our talk together today.
Thank you for listening to the reinventing professionals podcast.
Great, thank you, Ari, how are you?
Well, and I'm looking forward to this conversation, so tell us about your background and the genesis
of S.W.I.R. Bank.
So I was a personal injury lawyer in New York City, representing injured plaintiffs in personal
injury, medical malpractice, and eventually mass-tort litigations.
I worked at two different law firms, learned a lot through working at two different companies,
(00:52):
and the second one made it very clear early on that nobody becomes an equity partner at this
law firm.
So I made most of my time there, learned a lot, but at some point I no longer felt like
I was getting out as much as I was putting in.
So I came to this Crossroads in my professional career and came to the decision that I needed
(01:12):
to do one of two things.
One, start my own law firm, which wasn't appealing to me, trying to originate new personal
injury business in New York City, was not appealing to me, or do something more entrepreneurial
in the world of business.
And that's the path I ultimately took.
One of my closest friends from my childhood called me one day and said, "Ari, I know you're
(01:35):
not happy where you are any longer, and as your friend I thought, what could I do to help?"
He said, "My father and my uncle are investing a lot of time and money into some new finance
company."
It's related to the law, but I don't understand it.
And they're looking for a young lawyer to come in and help market this financial service
to other lawyers.
(01:56):
And I told them all about you and they really like to meet you when you take the meeting.
And I said, "Absolutely.
Generally speaking, I take almost any meeting that's offered to me.
It's rarely a waste of time.
I could learn something or learn something about myself.
And in this instance, my good friend, his father and his uncle were also billionaires.
So that was another reason I was intrigued by the meeting.
(02:18):
So I went down to Brooklyn, New York and I met with four gentlemen who had this brand-new
startup.
And it was the first litigation funding company in New York, the first Laintiff funding company,
the first non-recourse funding company called Law Cash.
And we had a great meeting and eventually they said, "Listen, we'd love for you to come
(02:39):
join us.
We'd like to make you the National Marketing Director.
We'd like you to travel around the country and meet with law firms, build real relationships
with trial lawyers and hopefully they'll refer their clients to us."
Long story short, I said, "Yes, I left a practice of law and joined Law Cash and helped grow
Law Cash to become the largest plane-to-funding company in the country at the time."
(03:02):
One of the most interesting things about Law Cash was that they had this advisory board,
comprised of past presidents of different state trial lawyer associations and a National
trial lawyer association.
And we shared with them that our long-term vision, which was already to one day become the
one stop financial resource to contingency fee law firms and their clients.
(03:27):
A few years later, two of those lawyers on the advisory board came to myself and the executives
at Law Cash and said, "We have an idea for you.
Start a national commercial bank that takes the time to understand the business of being
a contingency fee law firm because that doesn't exist today and I'm telling you, we need
(03:47):
that."
So that was a germ, a genesis of the idea was listening to past presidents of different
state trial lawyer associations who recognized a need and brought the idea to us to see if
we could fill that need.
What are some of the unique business challenges facing law firms today and specifically contingency
(04:07):
fee law firms?
So contingency fee lawyers do not get paid unless and until they successfully resolve a case.
Cases that are in litigation in our experience, we've been doing this now almost 18 years,
take on average between two to three years to monetize.
So that business model creates a regular cash flow.
(04:31):
It's extremely lumpy.
There's ebbs and flows compared to almost every other business out there, right?
These lawyers are working on cases for years before they get paid.
So because of that irregular cash flow, traditional lenders do not like lending money to them.
Traditional banks think there's too much actual credit risk lending money to a contingency
(04:53):
fee law firm.
And let me pause for a second.
When I say contingency fee law firm, that comprises of personal injury law firms, social
security disability firms, workers compensation firms, class action firms, mass court firms,
and others.
So there's a lot of them out there.
I'm talking about a total address of a market that sees about half a billion dollars a year
(05:16):
flow through these lawyers to their clients.
So traditional banks historically don't like lending money to these businesses primarily
because their cash flow is extremely irregular.
Additionally, these law firms don't have any assets on their balance sheet.
Moreover, these same law firms don't have an inventory that a traditional lender
(05:37):
could walk into a warehouse and feel these are not widgets.
These are cases that by their very definition may be worth zero or may be worth some of money
at some point in the future.
Traditional bankers think there's again, too much actual credit risk there.
These same firms also have no AR, no accounts receivable.
A lot of lenders can lend against AR that monetizes every 90 days or less or if they're aggressive
(06:01):
180 days or less.
Again, we're talking about cases that take years to monetize.
So that created this need in the marketplace.
Most of the contingency fee law firms out there today are still self-pannanced.
Meaning they're not borrowing money.
Why?
Because traditional banks, I just explained, well, lend them money.
(06:23):
So they're using the revenue from the cases that they resolve to run their business and
try to grow their business.
And often the growth is stunted because of that.
And because of that void, specialty finance companies have emerged.
There's a lot, thousands of them, litigation funding companies that provide capital to law
(06:44):
firms for their business needs.
So while traditional lenders think there's too much actual credit risk lending money to these
firms, Esquire Bank feels very differently because we took years studying this business.
And what we've concluded is really good contingency fee lawyers are very selective in terms of the
(07:06):
cases that they elect to work on for obvious reasons.
They're not going to get paid unless they're successful.
And these attorneys are successful.
These cases monetize over 95, 98% of the time.
So to us, it's not an actual credit risk.
These are perceived credit risk that we've called a duration risk, okay?
(07:29):
And that allows us to do what other banks don't do.
What litigation funding companies do, but because we're a national commercial bank with money
on deposit, those are the funds we use to finance these law firms.
We provide our financing at bank rates.
Besides the lending, what resources does Esquire Bank offer trial lawyers in terms of empowering
(07:51):
them to sustain their business and grow?
Every law firm needs to work with a bank.
They have special types of accounts, Iola Iolta's Esquire account.
We provide all of those depository services without charging them anything, by the way.
So they need all of that.
We provide that most banks provide that.
However, there are some unique types of accounts that class action and mess toward law firms
(08:13):
need when they're resolving cases for multiple plaintiffs at one time.
And those accounts are called qualified settlement funds.
And most banks don't even know what a QSF is, whereas we have a whole department that services
those unique needs.
Beyond that, we touched on some of the financing we provide.
We provide tailored financial solutions for each law firm that we work with.
(08:36):
No two law firms are exactly alike.
Therefore the financing we do literally has to be tailored for each one.
It's a very unique approach.
But beyond those traditional banking services Esquire bank provides many other resources.
In fact, now that we've been doing this almost 18 years and we've been working with some
of the most successful contingent C.P law firms in the country, we've had an opportunity
(08:59):
to study our clients.
If we see that a law firm, Ari, for example, has grown over 300% over the last three or
four years because those law firms share their financial data with us and their case
inventory data with us.
We dive into that data and intelligence and analyze it and actually write case studies
about it and then show it back to the clients and say, do you realize that you grew 325%
(09:24):
over the last 40 months?
And we have a conversation about how they used the access to our capital to invest in
that type of growth.
And we add that to the case study.
And then with the law firms' permission, we shared those findings with the rest of the
legal community.
We really believe in that rising tide theory.
So much so that we created a digital content hub called lawyer IQ.
(09:49):
And the motto is lawyer IQ means business.
The things they didn't teach you in law school.
It's amazing how contingency fee lawyers will admit that they could pick up a file they've
never seen before and try that case the same day.
However, when it comes to running their law from like a business and talking about budgets
and their P and L and balance sheet, that's where they're not experts.
(10:12):
They didn't most of them get an NBA.
They got a JD.
They didn't go to business school.
So what we learned from other law firms, again, we share that with the legal community
on lawyer IQ where attorneys can go and there's different channels about intake and marketing
and obviously finance legal tech growth.
So there's videos and white papers and case studies.
(10:33):
And then beyond that, because we work with so many different law firms now who each have
their own areas of expertise, we connect our clients.
When we hear that a disability attorney has the ability to originate mass tort claims
because their clients don't just have a disability claim.
They've been taking a drug that's been recalled, but the disability attorney or advocate
(10:56):
doesn't know what to do with that.
They'll often reach out to us because we have these great relationships with the leaders
in the mass tort litigations and we just bring great people together and often that's great
for them and eventually comes back to us.
So we do a lot more than just provide depository and lending services.
Is your work concentrated in specific jurisdictions where the personal injury dockets are most active?
(11:23):
Yes and no.
We started at Squared Bank in New York.
So the majority of our clients because we've been there now for so long are from New
York and I bet you can guess where the other pockets of business come from.
California, Florida, Texas, Pennsylvania, but we have clients all over the country in some
(11:44):
of the biggest cities and some of the smallest towns.
Although every law firm is different, many of their needs are very similar and because
we're uniquely qualified to service those needs, we're able to reach these attorneys in
a variety of ways.
We're very active with the associations that these lawyers are members of, right?
Lawyers need to take continuing legal education courses and every two years affirm that they've
(12:07):
taken their requisite courses, including ethics courses.
So we partner with these associations so that we can educate these lawyers about how to
run a law firm like a business.
Again, they're not just practicing law, they're running a business.
We bring what we've learned to them through the associations and to lawyers all over the
country.
How do you see the banking landscape evolving as it relates to serving niche market segments
(12:31):
like legal?
I think more and more banks are actively looking for underserved markets, these niches,
right?
So we found two of them, obviously contingency fee law firms and then we completed an IPO
in 2016, we're now on the NASDAQ under the ticker ESQ and at the time, we were really surprised
(12:53):
to learn that out of 10,000 banks in the country at the time is probably 4,000 now, only 80
of them were doing something called merchant processing and all that is the processing
or clearing of debit card and credit card transactions for small businesses.
So we invested a lot in the technology and the talent and approached that market the way
(13:16):
we do in the legal community with the relationship first.
And now S-quare bank is processing debit card and credit card and no ACH transactions
for about 85,000 small businesses in all 50 states and we'll process well over $40 billion
this year.
So the point of telling you all of that is there are other niches out there, but you just
(13:36):
need to have the drive to go out there and look for them or look for consultants who could
find them for you and invest in the due diligence that it takes.
You need to speak with attorneys and consultants to explore these niches, but I think more
and more professionals are looking for experts, right?
(13:59):
There are a lot of banks that all do the same thing.
Residential real estate loans, commercial real estate loans, auto loans, credit card issuing,
I think there's a real need where proof of it that if you could find a specific underserved
market, then the market is open and would welcome those types of tailored financial services.
In what ways do you see technology both automating the way that banks operate and yet enabling
(14:26):
them to balance out the need for personal service, particularly in a market like legal?
We've embraced technology very early on.
When we started the bank, we had permission to open five branches in the first five years.
We opened two, then something in banking happened called Check 21, which was the Fed Fund's initiative
to go paperless in deposits, right?
(14:49):
Prior to Check 21, the paper instruments, the physical checks themselves, how to be sent
to the Fed Fund for processing and clearing.
Post Check 21, you were allowed to deposit electronically through something called remote
capture, right?
So today if you walk into any bank branch and you hand a teller, a check and a deposit
to let that teller will scan that check into the account where it's to be deposited.
(15:14):
When Check 21 happened, we made the business decision to no longer open multiple branches.
We believe that we could invest in the technology and also the customer service behind it.
You need both.
One without the other does not work.
And we're a proof positive that it does work.
I think the pandemic has forced banks to recognize that they needed to embrace the
(15:37):
technology that we were embracing earlier on during COVID.
Branches were often closed.
People didn't want to walk into a branch and have a face to face conversation with a teller.
They wanted to be able to deposit with their phone or with some other commercial check
scanner if it was through their business.
So yeah, it's much more efficient to do it that way.
(15:57):
Instead of filling out deposit slips and making copies of front and back of the check and
walking to the branch and waiting online and handing an individual the paper instrument,
that check could be deposited from your desk without the need of a deposit slip without the
copies.
It's all done electronically.
Same thing with dispersing funds.
We promote ACH and electronic funds transfers so much more than continuing to write checks.
(16:22):
There's a lot of check fraud out there.
You should be mitigating your exposure by doing as much electronically as possible.
But again, you need to have that white love personal service behind it.
And it's difficult for some institutions.
Any answer every call if you call us where bank you're not waiting on this electronic voice
recognition representative where you ultimately get someone out of call center who's got no
(16:44):
authority.
So instead we bring decision makers to the relationship with direct phone numbers.
And I think it's a really important component that needs to complement technology in order
for banks and law firms to be able to embrace emerging technology.
This is Ari Kappla and speaking with Ari Cornhaber, the co-founder and head of corporate
(17:05):
development at S.Quare Bank, a national commercial bank.
Ari, thanks so very much.
My pleasure, really enjoyed our talk together today.
Thank you for listening to the reinventing professionals podcast.
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