Money20/20 USA: Hello Alice on digitally supporting SMEs

In attendance at Money20/20 USA, held in Las Vegas from October 22-25, FinTech Magazine speaks to Carolyn Rodz, Founder and CEO at Hello Alice about how the digital platform is collaborating with small businesses to help them grow and succeed. 

Recognising business potential

Hello Alice is a digital platform that supports nearly 1.4 million small business owners across the country. Its goal is to make sure that these companies are finding the right capital connections, as well as solid opportunities relevant to their operations.

Explaining how it works, Carolyn Rodz says: “When a business owner comes to Hello Alice, [we] take a business health score assessment, and that essentially measures factors like their financial performance, their financial management practices and their credit history. 

“We take all of that data into account, give them a score on the foundational health of their business, and then we also give them a path to improve it.”

This data is then aggregated to make business-relevant recommendations so that business owners can work to build healthier, stronger and more sustainable business. As a result, these organisations could open more doors to capital, for instance, as well as leading them to make contracts with partners concerning investments or decisions that could change business trajectories.

A path to success

Over the next twelve months, Hello Alice has plenty of goals that it wants to achieve. Rodz says: “Our focus is very much on: How do we get richer data around the small business ecosystem, and how do we apply that data to provide more relevant recommendations for the business owners?”

She says that this is so Hello Alice can put these businesses on a better path towards higher growth and success.

“When those business owners succeed, we all succeed,” Rodz says. “The business owner gets more money in their pockets, the vendors selling into them get more money in their pockets [and] the governments collecting tax revenue from those companies get more money in their pockets. As a community, we all benefit. The goal is making sure that we're providing the best recommendations to put them on the best trajectory.

“Ultimately that comes down to having good quality, relevant, and timely data.”

For more from Hello Alice and its work to support small businesses, you can click on the video link above.

Want to see more from Money20/20 USA 2023? Stay tuned to our website for more content, which will be rolled out in the coming days.

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