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Listen to this episode: “Bitcoin Bottom Line” hosts, Steven McClurg and CJ Wilson, discussed regional and digital banking with Fourth Capital’s CEO Brian Heinrichs in this most recent episode. Fourth Capital believes in combining digital tools with a human touch. It strives to be a type of bank that has never been built before with its creativity, ideas, process and customer service. Heinrichs explained that Fourth Capitol is unique in that it is privately owned, with few shareholders, and has no plans to go public. There are two segments within banking today: there are the large, established, national, regional players, and there is the community banking player. Fourth Capital believes that banking should be about sitting down with your customer, meeting their needs and doing research to make it happen. Heinrichs assures its customers of a ‘yes’ mentality. Wilson spoke of banks encouraging people to link their stock portfolios to their savings accounts to incentivize them to trade more. It is currently a challenge to work in a Bitcoin-only cashless lifestyle, but some people hope that society will move towards this system. Heinrichs discussed how the organization’s purpose fundamentally changes how it functions as a company and treats customers. Traditionally, funded banks have all started with the premise “how do we make money?” They want your assets mixed with your bank account so they can get fees. They do this to make money without keeping the best interests of their customer in mind. Heinrichs stated, “Fourth Capitol wants to be the best at what they do and add value to their customers. If we do that in the long run, there’s a mutual benefit if their customers are rewarded through their business, and we are rewarded through long-term relationships. Heinrichs argues that a segment of the market is not invested because individuals cannot find the experience they want or they believe in an alternative financial world we don’t yet live in. Being financially inclusive is a long-term value that benefits Fourth Capital and clients. McClurg, Wilson, and Heinrichs all reflected on Nashville’s past and the city’s rapid growth over the past decade, discussing the values ​​Fourth Capital holds and how customers are often surprised by how the company operates. Unlike many traditional banks that send applications to an unnamed or anonymous credit committee to make decisions, there is a handful of employees who sit down and decide, “Get away from the formula and bring the human element in. Ultimately, it’s people work.” McClurg asked Heinrichs where he sees Bitcoin going, what it will be used for, and how it will be integrated. in our daily lives or in our banks. Heinrichs believes you have very early adopters, the next wave is people want exposure and see where it goes, and then eventually it will be adopted and used in many different places. He believes that banks need to evolve and start using better technology. The episode concluded with a brief explanation by Heinrichs about the credit facility and how lending has evolved in both private banks and the financial sector.
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