ResiDDS becomes Koa! A portfolio management system for loans.
Prior to pivoting to a financial technology company providing buyers and seller of loans a portfolio management system, we were a financial services company providing due diligence to hedge funds which purchased pools of non-performing residential loans, hence, ResiDDS (Residential Due Diligence Solutions).
This name obviously no longer made any sense since we no longer provide due diligence services and we are building out our platform as a portfolio management system to handle more than just residential mortgage loans.
It started with a sailing trip I took in St. Johns on a boat named KEKOA. It was by far one of the greatest experiences of my life with pristine waters, snorkeling and best of the all the end destination being an extremely remote island named Jost Van Dyke in the British Virgin Islands. Awaiting us at Jost was a bar named Soggy Dollar Bar.
The boat anchors about 20 yards from the bar requiring a swim to reach our target, cold beers and food at the bar. What other motivation does one need to, freestyle like Michael Phelps, okay, doggie paddle but the result was the same. I highly recommend this sailing excursion to anyone visiting St Johns.
In addition, Koa means Warrior in Hawaiian and is also the name of a very strong, sturdy tree with flexible branches drawing similarities to our technology.
Strong, sturdy yet flexible! Hope you enjoy the new name as much as we do!