The CAB will be comprised of a variety of different business owners, ensuring a broad cross section of feedback, suggestions and needs are collected. Each member will need to self-nominate through an application process that will be released over the coming weeks. Importantly, successful applicants will receive shares in Thrive for a 12-month commitment.
By incentivising board members through equity, we can ensure that the forum is a win-win. We get direct feedback and guidance on our plans, whilst CAB members get a stake in the business for their time and effort. Meeting monthly, the CAB will be given the opportunity to help shape Thrive’s product roadmap, marketing strategy and customer service plans.
In return, CAB members will be encouraged to provide open and honest feedback on the product, articulate their desires for enhancements and improvements, and discuss how the product is being used within their own business. As this is a group forum versus a one-on-one customer interview, the plan is to have an open dialog between the various board members about the product, its usage, and any relevant industry trends.
We are the first fintech that we are aware of that has implemented something like this and we are proud of that fact. Whilst many businesses talk about being customer first, the reality is very different. Because nothing is more important to us than our customers, setting up a CAB that represented the interest of members was the best way for us to hold ourselves accountable to our mission. To ensure we make the most of the CAB, we are looking for business owners who are passionate about helping other businesses improve their financial wellbeing.
The CAB personally represents the culmination of a lifelong goal of mine. That goal is to bring customers into the heart of our organisation. The CAB establishes a fundamental ideal that we at Thrive believe in. We are a brighter, better, and more sustainable business, the more integrated our customers are in everything we do. Our success is their success and vice-a-versa. We can’t wait to see what we can achieve together.