In Process Podcast

This week on Trusted Counsel’s podcast show “In Process: Conversations about Business in the 21st Century,” we interview Dan Drechel, Senior Vice President of BIP Capital, a venture capital firm based in Atlanta about his experience as the lead investor overseeing Saas, fintech, and devtools investments and in business transformations as an actual operator. Dan was part of a successful transformation during the dotcom boom era. In 1998, he interviewed for the Chief Operating Officer position at Security First Network Bank, a relatively new bank founded in 1994. Security First Network Bank was actually the first internet bank worldwide. During the interview, he learned the bank was in the process of a transformation and the COO would take the lead. Why did Security First Network Bank leadership make this decision after a mere four years in business? According to Dan, the bank was doing well at attracting deposits but lousy as a lender. With little revenues and stiff competition including large banking institut