Steve Schnall, Disruptive Digital Banking Executive and the Founder of Quontic Bank joins us in the Ask A CEO Podcast to share his exemplary life experience. Steve shares how he manages to run over sixty offices and multiple businesses,] and his top advice for the CEOs. Check out all other episodes of the Ask A CEO Podcast here.
Key facts
- Steve Schnall’s Linkedin
- Quontic bank website
- Steve started his journey at the age of fourteen
- Schnall is one of the Board of Directors of The Arthur project, a unique program using professional mentoring to help out youth in need in terms of education and the duration of middle school
- Steve runs a non-profitable charity organization, Urban Angels, to provide food and help the homeless of San Diego’s city. It serves 100,000 meals per year to the less fortunate
Key takeaways
- Steve Schnall started his journey at the age of fourteen in Florida, installing doors on houses for $20 per installation
- Post-education, Steve went to New York and began working as an auditor trainee for Price WaterHouse
- Soon after realizing that the audit industry was not for him, he left his job and met a group of young people dealing in Manhattan’s real estate business
- Steve was offered an opportunity to start as a mortgage company associated with their real estate market business but soon after the real estate company collapsed. He was fired and had his clearance seized, forcing Steve to declare bankruptcy in his early twenties
- Steve bounced back by starting his own business in Manhattan named New York mortgage corp
- After ten years of hard work, Steve had built the business up to the point where it had sixty-five offices all over the USA and over a thousand employees
- In 2007, Steve decided to sell the mortgage business due to the credit crisis
- He immediately re-engaged with the mortgage business and acquired a failing bank. Steve rebranded it and focused on people with an immediate need. The idea was to grow a bank that could invest in impossible circumstances
- Steve’s idea got certified by a department within the US treasury called CDFI (community development financial institution)
- Steve invested in a business that was run by one of his friends. The vision behind this venture was launching a luxury health and fitness club, which captured Steve’s imagination. Currently, this venture is popularly known as “FIT”, which currently operates five locations and is planning on opening a sixth
- Along with the successes, Steve also mentioned the disastrous impact of covid-19 on businesses countrywide. The shutdown of the businesses and slow growth made New York suffer
- The tremendous amount of hard work, employing trained people in the right positions with KPI’s took him and his vision to where they are today
- Steve is always curious and interested in the hiring process. That is why he is focused on the personalities and out of the box skills of his people rather than just their qualifications
About Ultimate Business Secrets with Steve Schnall of Quontic Bank
I am Disruptive Digital Banking Executive and Founder of Quontic Bank which is an adaptive digital bank that empowers its customers financially while embracing their diverse circumstances. Quontic’s mission to break the system for financial empowerment stands in the face of big banks and proves there is a better and more equitable way to put the customer first.
I also run a non-profitable charity organization, Urban Angels, to provide food and help the homeless of San Diego's city. It serves 100,000 meals per year to the less fortunate.
I also run a non-profitable charity organization, Urban Angels, to provide food and help the homeless of San Diego's city. It serves 100,000 meals per year to the less fortunate.