The biggest challenges, and how to solve them
The greatest challenge Polaris is currently working to solve is scaling. From a technology point of view, the Polaris platform is scalable. Evan explained that when a business starts growing very quickly, it becomes a challenge to manage existing clients while onboarding new ones and adhering to compliance standards that come with those clients. Finding the right people for the job is also a scaling issue that Polaris is very careful with.
“Anyone we hire has to have two things. First, they have to have a very detailed understanding of the digital wealth space. And second, they have to understand the community bank and credit union space. They have to understand that when we partner for these banks, we are guests of these institutions. Our clients are the banks and credit unions clients first – we are here to provide a value-added service.”
WealthTech Club takeaways
Polaris’ team comprises ambitious, young professionals that have set out on a path toward quality business growth. Their client-centered approach is characteristic of startups with a bright future, and lays the foundation for an automated solution for financial institutions that uses financial research as the spearhead.
Interviewed by Vasyl Soloshchuk, CEO and co-owner at INSART, FinTech & Java engineering company. Vasyl is also the author of WealthTech Club, which conducts research into Fortune and Startup Robo-advisor and Wealth Management companies in terms of the technology ecosystem.