Espresso Machines & KYC Solutions.

KYC and Specialty Coffee: Part 2.

Last week, I wrote about KYC and Specialty coffee. I focused on roasting and how KYC in Fintech is very much related. This week, I’m taking espresso machines and the similarities between choosing one and deciding on a KYC solution for a fintech. 

Disclaimer: I was not paid by any of the mentioned coffee companies when writing this article. 

When it comes to picking espresso machines in 2020, you have a plethora of options to choose from. Machines exist at different price points. Every machine lends a unique extraction method from hand-controlled lever machines, to semiautomatic Italian models, to fully automatic machines that can do everything from ristretto to pumpkin spice lattes. Each machine lends a certain degree of control over the final product, 18ml - 40ml of coffee concentrate, otherwise called espresso. 

The best machines permit finite control over water pressure and temperature, preinfusion, and ultimately produce a superior shot. With all espresso, no matter the machine, you need to extract your coffee in about 25 - 30 seconds (Anything under 25 seconds will be sour, and under-extracted, anything over will be bitter and over-extracted). Furthermore, you’ll need to take into account the volume of espresso you will be making (We’ll talk about volume in a bit when it comes to KYC).  

Are you making ten shots a day? Thirty a day? One thousand a day? What’s going to give your shop (or home) the best shot for the best price? 

Choosing a KYC provider is very similar to choosing an espresso machine. First, you have options. Some companies only provide liveness; others document checks, others patch everything together and then upsell. Some only offer SDKs and others enterprise-only solutions.  

Executives at financial companies such as digital banks, payment gateways, digital wallets, and lending platforms, must figure out what service will give them the best bang for their buck. How much volume will I have per day? Per month? Per year? 

Do I want a one-stop-shop solution that might be a bit more expensive but save me time and money with support and integration? Do I need to integrate three to four services to customize my specific niche market needs? Lastly, what will the customer experience be, and how will this affect conversion rates? After all, just like espresso, you want to do your KYC in less than 30 seconds and provide a great experience.

If I were to buy an espresso machine or implement a KYC solution, here are my recommendations. When it comes to espresso, you need a one-stop-shop. Not only do you need a machine that can do preinfusion, handle high volumes, be portable, and lastly, come with accessories like a scale, tamer, and grinder. The only machine/company on the market that meets those requirements is the Decent espresso machine. Check them out! For around $3,000 USD you can make world-class espresso at your house or even in your cafe. Comparable machines (no grinder or scale included) will run in the under $6,000’s, for example, the La Marzocco mini. Machines at a lower price point, like the Rancilio Silvia, will cost around $750, but you can't brew and steam and at the same time, handle high volumes plus you’ll need a grinder. Oh, and with the Decent, you can even program the machine to do other methods of extraction like aeropress and V60 pour-overs. 

In conclusion, Mati is the Decent espresso of the KYC business. We’re new, we’re innovative and most importantly we have a flexible one-stop solution that makes us the only place to go for your KYC needs! While others sell checks and you have to compile a few solutions together in a costly and time-consuming integration, Mati gives you the ability to get 10 checks per verification, saving you time and money. I really don’t want to sell our product via a Linkedin article, but I’d like to make the comparison to getting value and saving time and money as an executive in a FinTech company. This is the same decision a coffee shop, like let’s say, Blue Bottle, Arabica, or smaller specialized shops in Korea, Japan, and Bangkok have to make. 

At the end of the day, when extracting espresso or doing a KYC you want speed, ease of use, control, and quality. Decent espresso gives you this for espresso and Mati provides the same for KYC.