Purpose Driven FinTech

This week I'm on the hot seat! Danny Levy, Managing Director Asia & ANZ at Money20/20 invited me to his pod "Digital Transformation and Leadership".

We start with a quick intro and icebreaker questions, the work we are doing at Big Pay and we then deep dive into talking about money! We discuss how to bridge the gap and get people to open up about their financial struggles, the challenges I see with the unbanked, and close off with advice to people who are just starting out in the Fintech industry

If you enjoy this Purpose Driven FinTech episode it would mean the world if you subscribe and give it a follow so that we can have more impact. Remember to connect in YouTube or LinkedIn to keep the conversation going.

Let’s dive into it!

👉 You can find Danny here

1. LinkedIn: https://www.linkedin.com/in/danny-levy/
2. LinkedIn: https://www.linkedin.com/company/digital-transformation-leadership-podcast/posts/?feedView=all
3. Digital Transformation & Leadership Podcast: https://open.spotify.com/show/4NSxmkUKynXRQZZulbPalG

👉 And you can find Monica here:

1. LinkedIn: https://www.linkedin.com/in/monicamillares/
2. YouTube: https://www.youtube.com/@moni_millares
3. TikTok: https://www.tiktok.com/@moni_millares
4. Website: https://moni-millares.mystrikingly.com/

If you enjoy this pod, please follow and leave a 5 star rating on Spotify and a review on Apple podcasts

Questions:

1. How to bridge the gap for people to discuss money?
2. What are challenges facing 1.5 billion unbanked adults?
3. How to build neobank from scratch in Southeast Asia?
4. What is the future of FinTech and why is it human?
5. How to create safe spaces for money conversations?
6. What is financial wellbeing for underbanked populations?
7. How to start a career in FinTech industry?
8. What is the role of community in financial education?
9. How to transition from startup to scale-up in FinTech?
10. What is product leadership in digital banking?
11. How to create psychological safety around money topics?
12. What are barriers to financial inclusion globally?
13. How to build product playbook for growing teams?
14. What is upward mobility for unbanked customers?
15. How to collaborate to solve unbanked problem?
16. What advice for newcomers to FinTech industry?
17. How to avoid analysis paralysis in FinTech career?
18. What is the role of mobile adoption in banking?
19. How to build trust in financial communities?
20. What is BigPay's approach to financial inclusion?

—

For inquiries about coaching, collabs, sponsoring the podcast or creating or editing your podcast email Monica at [email protected]

Disclaimer: This episode does not constitute professional nor financial advice and does not represent the opinion nor views of my current, past or future employers. The guest has agreed to record and release our conversation for the use of this podcast and promotion in social media.

This episode was first released in May 2023 at Digital Transformation & Leadership Podcast with Danny Levy - https://open.spotify.com/episode/1xSarHexfLY8GSpmNcCKwj

Being an immigrant in the US comes with financial challenges, starting with struggles to open a bank account. This is a 44 Million problem with 13% of US population classified as immigrants, and contributing to 22% of US GDP - that’s USD 3.9Trillion per year.

In today’s episode, Dr David Wachira, CEO & Co-Founder at Waya, talks to us about this customer problem statement and how Waya is being part of the solution.

We explore how to create purpose driven FinTechs to create more impact, the biggest challenges immigrants have accessing financial services in the US. Waya’s customer segments ranging from students, workers, minorities and professionals, solving for financial inclusion, requirements for illegal immigrants to open a bank account, and how marketing efforts to reach out to immigrants is different from your traditional FinTech.

If you enjoy this Purpose Driven FinTech episode it would mean the world if you subscribe and give it a follow so that we can have more impact. Remember to connect in YouTube or LinkedIn to keep the conversation going.

Let’s dive into it!

👉 You can find Dr David here

1. LinkedIn: https://www.linkedin.com/in/david-wachira/
2. LinkedIn Waya: https://www.linkedin.com/company/wayapay/
3. Website: https://getwaya.com/

👉 And you can find Monica here:

1. LinkedIn: https://www.linkedin.com/in/monicamillares/
2. YouTube: https://www.youtube.com/@moni_millares
3. TikTok: https://www.tiktok.com/@moni_millares
4. Website: https://moni-millares.mystrikingly.com/

If you enjoy this pod, please follow and leave a 5 star rating on Spotify and a review on Apple podcasts

In this Purpose Driven FinTech episode we cover:

(01:05) The Role of Fintechs in Society

(05:43) The Challenges of Immigrants in the U.S.

(07:11) The Importance of Financial Access

(08:19) The Journey of Immigrants in the U.S.

(09:00) The Role of Waya in assisting immigrants

(14:42) The Size and Impact of the Immigrant Population in the U.S.

(18:17) The Challenges Immigrants Face in Accessing Financial Services

(20:41) The Possibility for Illegal Immigrants to Open Bank Accounts

(24:18) The Importance of Financial Education and Literacy

(27:19) Overcoming Fear as an Immigrant

(28:23) The Reality of Deportation and Living in Fear

(30:10) Understanding the Struggles of Immigrants

(31:00) Defining Financial Inclusion

(32:09) The Impact of Financial Exclusion

(36:56) The Role of Fintech in Financial Inclusion

(43:27) The Power of Word of Mouth in Community Outreach

(44:30) The Importance of Trust in Building a Fintech Brand

(49:07) The Potential Change in the Fintech Industry

Questions:

1. How can illegal immigrants open bank accounts in US?
2. What is an ITIN tax ID number?
3. How to build credit as an immigrant in America?
4. What are challenges immigrants face accessing financial services?
5. How many immigrants contribute to US economy?
6. What is financial access for undocumented immigrants?
7. How to open checking account without social security number?
8. What is neobanking for immigrants and minorities?
9. How to pay taxes as illegal immigrant?
10. What are community-based marketing strategies?
11. How to reach immigrant communities through churches?
12. What is the difference between legal and financial documentation?
13. How to build wealth without credit history?
14. What are deposit requirements for immigrants renting apartments?
15. How to reach unbanked immigrant populations?
16. What is the role of remittances in immigrant communities?
17. How to design FinTech for non-digital savvy customers?
18. What are valid IDs for immigrant bank accounts?
19. How to market FinTech to immigrant communities?
20. What is financial education for immigrant populations?

—

Production and marketing by Monica Millares. For inquiries about coaching, collabs, sponsoring the podcast or creating or editing your podcast email Monica at [email protected]

Disclaimer: This episode does not constitute professional nor financial advice and does not represent the opinion nor views of my current, past or future employers. The guest has agreed to record and release our conversation for the use of this podcast and promotion in social media.

Financial Inclusion means reaching out to customers who are by definition not very digital savvy, so how do we do it in the age of digital banks? … A hybrid partnership approach seems to work as a solution!

In today’s episode Iliana de Silva, CEO and Co-Founder at Techreo brings her perspectives on financial inclusion, financial wellbeing, and how Techreo is actually reaching the unbanked in Mexico with a Bank Partnership model. 60% of Mexicans do not have access to a bank account, and social media and referral rewards won’t be enough to include them, we need a different approach and Iliana and the Techreo team bring a sustainable solution!

If you enjoy this Purpose Driven FinTech episode it would mean the world if you subscribe and give it a follow so that we can have more impact. Remember to connect in YouTube or LinkedIn to keep the conversation going.

Let’s dive into it!

👉 You can find Iliana here

• LinkedIn: https://www.linkedin.com/in/ilianadesilva/
• LinkedIn Techreo: https://www.linkedin.com/company/techreomx/
• Website: https://techreo.mx/

👉 And you can find Monica here:

• LinkedIn: https://www.linkedin.com/in/monicamillares/
• YouTube: https://www.youtube.com/@moni_millares
• TikTok: https://www.tiktok.com/@moni_millares
• Website: https://moni-millares.mystrikingly.com/

We cover:

(01:56) Understanding the Customer's Needs

(03:34) The Journey of Tecreo

(08:29) The Underbanked Population

(12:05) The Role of Women in Financial Inclusion

(17:26) The Challenges of Financial Inclusion

(20:32) The Success of Tecreo

(24:40) Planning for the Future

(34:50) The Experience of Fundraising as a Female Founder

(38:39) The Importance of Customer-Centric Product Development

QUESTIONS

• How to serve unbanked population in Mexico?
• What is the hybrid bank partnership model?
• How to reach 60% unbanked Mexicans?
• What is financial inclusion in Latin America?
• How to solve daily financial problems for underbanked?
• What are cash-in and cash-out solutions?
• How to serve women in financial services?
• What is the mom-and-pop shop banking model?
• How to build products from customer standpoint?
• What is financial wellbeing for low-income segments?
• How to enable savings for informal workers?
• What are barriers to banking in LATAM?
• How to onboard customers in under 3 minutes?
• What is the difference between banked and underbanked?
• How to solve prepaid phone recharge problem?
• What is informal savings behavior?
• How to reach non-digital savvy customers?
• What are daily financial services needs?
• How to build financial education for underserved?
• What is the future of financial inclusion in LATAM?

—

Production and marketing by Monica Millares. For inquiries about coaching, collabs, sponsoring the podcast or creating or editing your podcast email Monica at [email protected]

Disclaimer: This episode does not constitute professional nor financial advice and does not represent the opinion nor views of my current, past or future employers. The guest has agreed to record and release our conversation for the use of this podcast and promotion in social media.

Incorporating AI in your tech stack is a digital transformation project among both big banks and FinTechs. To do it well it’s important first we understand the challenges of both digital transformation and AI.

In today’s episode Ara Abrahamyan shares with us his wealth of experience working in digital transformation projects in the largest banks in Europe and his experience working in the AI space in Financial Services.

We discuss how the DNA of FinTechs and incumbent banks are different, his fascinating career journey, how to breach the world between innovative tech, while still being able to stay in line and constraints with their priorities and pressure from investors, the struggles of implementing modern technology, and the role of culture in digital transformation.

We then move on to AI.

We discuss the biggest challenges when adopting AI, what to take into account to create an AI strategy, How Cognaize is helping Financial Services companies and the concept of “hybrid Intelligence” which is part of Cognaize’s proposition.

Ara is a Board Advisor at Ameriabank, an innovative bank in Armenia, and at Cognaize and AI FinTech.

Let’s dive into it!

👉 You can find Ara here

• LinkedIn: https://www.linkedin.com/in/araabrahamyan/
• LinkedIn Cognaize: https://www.linkedin.com/company/cognaize/
• Website: https://www.cognaize.com/
• LinkedIn Ameriabank: https://www.linkedin.com/company/ameriabank-cjsc/
• Website: https://ameriabank.am/

👉 And you can find Monica here:

• LinkedIn: https://www.linkedin.com/in/monicamillares/
• YouTube: https://www.youtube.com/@moni_millares
• TikTok: https://www.tiktok.com/@moni_millares
• Website: https://moni-millares.mystrikingly.com/

If you enjoy this Purpose Driven FinTech episode it would mean the world if you subscribe and give it a follow so that we can have more impact. Remember to connect in YouTube or LinkedIn to keep the conversation going.

In this Purpose Driven FinTech episode we cover:

(01:25) Discussion on Purposeful Fintechs

(04:52) Ara's Career Journey

(09:10) Role of Purpose in AmeriBank and Cognize

(12:10) Challenges in Implementing Digital Transformation

(23:56) Introduction to Cognize

(25:39) Challenges in Adopting AI Technologies

(29:46) Planning AI Strategy

(34:25) Impact of AI in Building Purpose-Driven Fintechs

SEARCH QUESTIONS

• What are the biggest challenges of AI adoption in banking?
• How to create an AI strategy for financial services?
• What is hybrid intelligence in AI?
• How to implement digital transformation in banks?
• What is the difference between FinTech and bank DNA?
• How to build trust in digital transformation?
• What is data governance for AI implementation?
• How to extract data from unstructured documents?
• What is the role of regulators in AI adoption?
• How to bridge FinTech and bank partnerships?
• What are AI skills gaps in financial services?
• How to decompose complex financial services?
• What is the future of human-AI collaboration?
• How to prioritize AI implementation projects?
• What is the ROI of AI experiments?
• How to work with regulators on AI projects?
• What is the role of culture in digital transformation?
• How to build successful startup-corporate partnerships?
• What is unstructured data extraction in banking?
• How to accept AI as the new normal?

—

Production and marketing by Monica Millares. For inquiries about coaching, collabs, sponsoring the podcast or creating or editing your podcast email Monica at [email protected]

Disclaimer: This episode does not constitute professional nor financial advice and does not represent the opinion nor views of my current, past or future employers. The guest has agreed to record and release our conversation for the use of this podcast and promotion in social media.

• 11.5 million people in the UK have less than a hundred pounds in savings
• 9 million people are in serious debt
• 81% of young people in the UK feel anxious about money
• 73% of adults say that money worries impact them at work
• 58% of people do not understand money and say they don't recall being taught anything about money at secondary school or sixth form college

that’s why Loqbox exists!

Loqbox is a multi-award-winning FinTech and they are in a mission to “give everyone access to a richer life.” Gregor is the Co-CEO and Founder of Loqbox, and in this episode he shares with us the shocking reality of financial wellbeing of people in the UK… and what Loqbox is doing as part of the solution

We must understand the basics first, so we explore how solving a customer problem while having market demand is key to building purpose driven FinTechs, what do we mean with financial wellbeing, the relationship between our credit score and financial wellbeing, Loqbox’s customer segments and the personal finance tools they’ve built to enable people build up their credit histories and access finance methods that they may have previously been excluded from.

Gregor is an experienced entrepreneur and executive and non-executive director, has lovely leadership style, and has lived and worked in countries like Kazakhstan, Brazil, South Korea, and Thailand!

Let’s dive into it!

👉 You can find Gregor here

• LinkedIn: https://www.linkedin.com/in/gregor-mowat-03b85b3/
• LinkedIn Loqbox: https://www.linkedin.com/company/loqbox/
• Website: https://www.loqbox.com/en-gb/

👉 And you can find Monica here:

• LinkedIn: https://www.linkedin.com/in/monicamillares/
• YouTube: https://www.youtube.com/@moni_millares
• TikTok: https://www.tiktok.com/@moni_millares
• Website: https://moni-millares.mystrikingly.com/

If you enjoy this Purpose Driven FinTech episode it would mean the world if you subscribe and give it a follow so that we can have more impact. Remember to connect in YouTube or LinkedIn to keep the conversation going.

In this Purpose Driven FinTech episode we cover:

(00:32) How to build Purpose-Driven Fintechs

(03:19) The Triad of Market Readiness, Founders, and Regulations

(04:18) The Shift from Growth to Profitability

(06:16) The Story and Purpose of Lockbox

(07:38) The Three Pillars to Access a Richer Life

(07:42) The Importance of Financial Education and Habits

(08:36) Building a Good Financial Profile

(09:17) The Journey from Debt to Savings and Wealth Enhancement

(15:20) Understanding the Customers of Lockbox

(24:12) Understanding Financial Wellbeing

(25:09) The Intersection of Financial Health and Personal Feelings

(26:30) The Impact of Financial Anxiety

(27:34) The Role of Education in Financial Wellbeing

(28:52) The Importance of Financial Health

(30:11) The Effects of Financial Stress on Work

(43:09) The Power of Financial Coaching

(46:03) Putting the Customer at the Heart of Fintech

SEARCH QUESTIONS

• How to build credit score from scratch?
• What is financial wellbeing in the UK?
• How many people in UK have no savings?
• What is credit history building?
• How to improve credit score while saving money?
• What are the barriers to financial inclusion?
• How to build credit score at 18 years old?
• What is Loqbox Save and Loqbox Grow?
• How to report rent payments to credit agencies?
• What is the relationship between credit score and mortgage rates?
• How to rebuild credit after debt management plan?
• What are credit score bands in the UK?
• How to help new immigrants build credit?
• What is unregulated financial advice?
• How to democratize financial coaching?
• What is the impact of money anxiety on work?
• How to change financial behavior through product design?
• What is the "so what" principle in product development?
• How to help vulnerable customers with credit building?
• What are the unintended consequences of credit building tools?

—

Production and marketing by Monica Millares. For inquiries about coaching, collabs, sponsoring the podcast or creating or editing your podcast email Monica at [email protected]

Disclaimer: This episode does not constitute professional nor financial advice and does not represent the opinion nor views of my current, past or future employers. The guest has agreed to record and release our conversation for the use of this podcast and promotion in social media.

I bet you are not an angel investor because you think you need a ton of money to be part of the club, or you have no idea even where to start because you don’t have a network of entrepreneurs building projects you believe in! Well all of that may be true, but not anymore!

In this episode, Sarah helps us demystify Angel Investing. She explains what angel investing is, the challenges of Angel Investing, and a solution to make it accessible for all of us - Obu! We then go broader into the role of Obu in closing the Gender Investment Gap, the Importance of Financial Education, the inherent risks of angel investing, and creating a culture of psychological safety so that we can create FinTechs with impact!

Sarah is the CEO and CoFounder of Obu, an entrepreneur with Design Thinking embedded at the core of the work she does and a disruptor of the dominant narrative of entrepreneurship and investment in the U.K. Why? Only 1% of VC funding goes to women founded businesses.

Let’s dive into it!

👉 You can find Sarah here

• LinkedIn: https://www.linkedin.com/in/sarahlking/
• LinkedIn Obu: https://www.linkedin.com/company/obu-invest/
• Website: https://www.obuinvest.com/

👉 And you can find Monica here:

• LinkedIn: https://www.linkedin.com/in/monicamillares/
• YouTube: https://www.youtube.com/@moni_millares
• TikTok: https://www.tiktok.com/@moni_millares
• Website: https://moni-millares.mystrikingly.com/

If you enjoy this Purpose Driven FinTech episode it would mean the world if you subscribe and give it a follow so that we can have more impact. Remember to connect in YouTube or LinkedIn to keep the conversation going.

In this Purpose Driven FinTech episode we cover:

(0:01:08) Importance of diversifying the angel investor population

(0:02:03) Definition of success based on internal measures and values

(0:04:02) Coping with tough times by focusing on learning and growth

(0:07:54) Building purpose-driven fintechs through demystifying regulation, serving underserved audiences, and empowering entrepreneurs

(0:11:35) Demystifying angel investment as placing a bet on a business and supporting its success

(0:14:44) Due diligence for angel investors

(0:15:40) Obu's purpose to close the gender investment gap

(0:17:13) Sarah shares her personal journey and reasons for starting Obu

(0:20:08) Challenges within the current financial services system for women in angel investing

(0:23:29) Flipping the problem and focusing on changing the system to be more inclusive

(0:26:40) Sarah describes their fintech platform as a dating app for early stage entrepreneurs and angel investors

(0:31:07) Making legal documents more accessible for angel investors

(0:32:47) Financial education and due diligence for angel investors

(0:35:27) Evaluating the financial position and accepting the risk of potential loss

(0:38:57) Psychological safety in creating a culture that supports innovation

(0:41:06) The 1% jar and the importance of learning and growing together

(0:43:15) Funding diverse fintech founders as a way to drive inclusion

SEARCH QUESTIONS

• What is angel investing for beginners?
• How to close the gender investment gap?
• What percentage of VC funding goes to women founders?
• How to become an angel investor?
• What is inclusive design in FinTech?
• How to invest in diverse entrepreneurs?
• What is the risk of angel investing?
• How to do due diligence on startups?
• What is psychological safety in investment?
• How to build investment education programs?
• What is capital plus in angel investing?
• How to democratize angel investing?
• What are barriers to women in investing?
• How to create investor communities?
• What is the Obu Angel Collective?
• How to fund female-founded businesses?
• What is purpose-driven angel investing?
• How to design financial products inclusively?
• What is the 1 percent jar culture?
• How to flip systemic problems in finance?

—

Production and marketing by Monica Millares. For inquiries about coaching, collabs, sponsoring the podcast or creating or editing your podcast email Monica at [email protected]

Disclaimer: This episode does not constitute professional nor financial advice and does not represent the opinion nor views of my current, past or future employers. The guest has agreed to record and release our conversation for the use of this podcast and promotion in social media.

A differentiated FinTech value proposition that resonates with customers is what differentiates the great from the average - nice UI/UX is not enough anymore! It is easier said than done. But it’s not an impossible mission.

In today’s episode, Jas Shah takes us step by step on how to build a solid proposition. We first get very clear on the difference between Product and Proposition - or the relationship between these two. We define what makes a strong proposition, go in detail on how to do Discovery work, and the very delicate topic of trust.. how do we create trust with our customers?

Jas is an experienced Product manager & Consultant with a history of successful projects across Financial Institutions. He is the founder of Bitsul, a consultancy that helps organizations supercharge their products and implement process and strategy.

If you enjoy this Purpose Driven FinTech episode it would mean the world if you subscribe and give it a follow so that we can have more impact. Remember to connect in YouTube or LinkedIn to keep the conversation going.

Let’s dive into it!

👉 You can find Jas here

• LinkedIn: https://www.linkedin.com/in/jas-shah/
• LinkedIn Bitsul: https://www.linkedin.com/company/bitsul/
• Website: https://bitsul.co.uk/

👉 And you can find Monica here:

• LinkedIn: https://www.linkedin.com/in/monicamillares/
• YouTube: https://www.youtube.com/@moni_millares
• TikTok: https://www.tiktok.com/@moni_millares
• Website: https://moni-millares.mystrikingly.com/

In this Purpose Driven FinTech episode we cover:

(00:11) Discussing the Complexity of Building a Product

(00:50) Dealing with Difficult Times

(04:17) Reflecting on Career Choices and Lessons Learned

(05:25) The Role of Networking in Career Progression

(08:27) The Journey into Entrepreneurship

(10:41) Building Purpose-Driven Fintechs

(15:27) The Story behind Bitsul

(20:45) Understanding the Distinction Between Product and Proposition

(22:44) What Makes a Great Proposition

(25:47) The Role of Clarity in a Killer Proposition

(26:58) Discussing Examples of Clear Propositions

(27:56) How to Achieve Clarity in a Proposition

(28:38) Understanding the Problem: The Importance of Discovery

(28:55) The Process of Research and Hypothesis Formulation

(29:37) The Iterative Nature of Product Development

(30:00) The Importance of Market Analysis and Competitor Research

(30:14) The Product Development Cycle: Ideate, Discover, Design, Build, Launch, Repeat

(30:37) The Challenge of Getting the Basic Process Right

(31:00) The Importance of Review and Reflection in the Process

(31:16) The Pitfalls of Assumptions and Skipping Discovery

(32:04) The Challenge of Changing Course Once a Strategy is in Place

(33:15) The Challenge of Making a Product 'Sticky'

(34:14) The Importance of Customer Feedback and Community Building

(34:31) The Role of Metrics in Understanding Product Performance

(37:38) The Importance of Iteration and Learning from Failures

(42:01) The Challenge of Building a Culture that Drives Innovation

(42:13) The Role of Leadership in Fostering Innovation

(54:20) The One Thing to Change in Fintech

SEARCH QUESTIONS

• What is the difference between product and proposition?
• How to build a strong FinTech value proposition?
• What is discovery work in product management?
• How to create customer trust in FinTech?
• What makes a differentiated value proposition?
• How to validate product ideas with customers?
• What is the role of customer feedback in product development?
• How to build innovation culture in FinTech?
• What is psychological safety in product teams?
• How to iterate on product features effectively?
• What is the importance of talking to customers?
• How to build community around FinTech products?
• What are the challenges of retrofitting customer research?
• How to balance perfection and progress?
• What is the consultant approach to FinTech product?
• How to empower frustrated users to build solutions?
• What is the mission-driven approach in FinTech?
• How to celebrate wins and failures in innovation?
• What is the role of senior leadership in innovation?
• How to create space for experimentation in product teams?

—

Production and marketing by Monica Millares. For inquiries about coaching, collabs, sponsoring the podcast or creating or editing your podcast email Monica at [email protected]

Disclaimer: This episode does not constitute professional nor financial advice and does not represent the opinion nor views of my current, past or future employers. The guest has agreed to record and release our conversation for the use of this podcast and promotion in social media.

Did you know that in the UK consumers lose £2 Billion per year on unwanted subscriptions? Yes the ones that you join a trial and then forget about and boom! You get charged by surprise. This in turn creates financial stress, mainly to individuals, freelancers and small businesses. Even though it’s a big pain point, somehow it is still underserved. Till now!

Delphine takes us through her story on what inspired her to start ScribePay. ScribePay is a UK FinTech that allows consumers to track all their subscriptions in one place so that you are not caught off-guard when charged again! We go deep into what is the source of the problem - as simple as a distinction between subscriptions and recurring payment, how ScribePay brings control back to customers, and Delphine’s challenges fundraising as a woman of colour.

Let’s dive into it!

👉 You can find Delphine here

• LinkedIn: https://www.linkedin.com/in/delphine-emenyonu-2602744/
• Website: https://getscribepay.co.uk/

👉 And you can find Monica here:

• LinkedIn: https://www.linkedin.com/in/monicamillares/
• YouTube: https://www.youtube.com/@moni_millares
• TikTok: https://www.tiktok.com/@moni_millares
• Website: https://moni-millares.mystrikingly.com/

If you enjoy this Purpose Driven FinTech episode it would mean the world if you subscribe and give it a follow so that we can have more impact. Remember to connect in YouTube or LinkedIn to keep the conversation going.

In this Purpose Driven FinTech episode we cover:

(0:02:02) Dealing with failure and tough times

(0:05:47) Believing in oneself and taking charge of one's destiny

(0:07:29) The role of purpose FinTech and how it can make a difference in communities

(0:10:04) Scribepay to reengineer the way people pay for subscriptions

(0:13:22) Impact of wasted money on subscriptions and the stress and anxiety it causes

(0:14:34) Pain points experienced by consumers and content creators when it comes to subscriptions

(0:18:17) Growth of subscriptions and the need for organizations to distinguish between subscriptions and direct debits

(0:20:45) Scribepay unique features and controls

(0:24:36) Product development and customer research and iterating based on feedback

(0:27:20) Challenges of accessing funding and the need for more support for women in FinTech

SEARCH QUESTIONS

• How to manage unwanted subscriptions?
• What is the difference between subscriptions and direct debits?
• How much money is wasted on forgotten subscriptions?
• What is continuous payment authorization?
• How to get control over subscription payments?
• What are subscription traps and free trials?
• How to track all subscriptions in one place?
• What is the future of subscription management?
• How to prevent auto-renewal charges?
• What are the pain points of subscription payments?
• How to budget for multiple currency subscriptions?
• What is an e-money wallet for subscriptions?
• How to cancel subscriptions while sleeping?
• What are the challenges of fundraising as a woman of colour?
• How to build community-focused FinTech products?
• What is the subscription economy growth rate?
• How does open banking help subscription management?
• What is the role of virtual cards in subscriptions?
• How to reduce fraud in digital financial services?
• What are free trial notification best practices?

—

Production and marketing by Monica Millares. For inquiries about coaching, collabs, sponsoring the podcast or creating or editing your podcast email Monica at [email protected]

Disclaimer: This episode does not constitute professional nor financial advice and does not represent the opinion nor views of my current, past or future employers. The guest has agreed to record and release our conversation for the use of this podcast and promotion in social media.

Today I speak with Lauren Jones, Director of Market Development at Open Banking Exchange. Lauren is an expert focused on delivering open banking and open finance to central banks, regulators and market infrastructures around the world.

Open Banking Exchange aims to foster innovation, competition and efficiency to increase consumer choice and enhance security for online payments and is globally known for guiding central banks, authorities and regional communities through operational and technical set-up of open banking and open finance ecosystems.

Lauren explains open banking, open data, and open finance in a simple to understand manner and we discussed how Open banking and open finance are a journey - more specifically a journey setting foundations for future innovation. We touch of the role of the regulator, competition, the actual benefits of open banking, and how it fosters financial inclusion.

If you enjoy this episode it would mean the world if you subscribe and give it a follow so that we can have more impact. Remember to connect in YouTube or LinkedIn to keep the conversation going.

Let’s dive into it!

👉 You can find Lauren here

• LinkedIn: https://www.linkedin.com/in/lauren-jones-payments/
• LinkedIn Open Banking Exchange: https://www.linkedin.com/company/open-banking-exchange/
• Website: https://www.openbanking.exchange/

👉 And you can find Monica here:

• LinkedIn: https://www.linkedin.com/in/monicamillares/
• YouTube: https://www.youtube.com/@moni_millares
• TikTok: https://www.tiktok.com/@moni_millares
• Website: https://moni-millares.mystrikingly.com/

If you enjoy this Purpose Driven FinTech episode it would mean the world if you subscribe and give it a follow so that we can have more impact. Remember to connect in YouTube or LinkedIn to keep the conversation going.

In this Purpose Driven FinTech episode we cover:

(0:00:00) Financial inclusion vs. financial access

(0:02:33) Resilience and overcoming challenges

(0:03:40) Viewing failure as a learning opportunity

(0:06:13) Taking initiative and upskilling in career

(0:07:28) Building purpose-driven fintechs with a public good element

(0:08:06) Investing time in understanding and future-proofing fintech

(0:10:09) Developing an industry strategy for the future

(0:10:59) Regulators in the UK and Europe lack a clear vision for the fintech agenda

(0:12:01) The convergence of open banking, real-time payments, identity, and AI is crucial

(0:12:54) The industry should coalesce around a clear direction for the next 20 years

(0:17:50) Open banking, open data, and open finance involve third-party access to customer accounts

(0:19:31) Open banking focuses on transactional accounts, while open finance includes other financial products

(0:20:03) Open data expands beyond financial data to include health, telco, and energy data

(0:21:57) Building open banking ecosystems requires adapting best practices to each market

(0:22:19) Financial inclusion and access vary depending on the market's development level

(0:23:30) Open banking is just one part of a bigger story of financial inclusion

(0:27:57) PSD3 regulation aims to standardize and open up all financial products

(0:30:48) Open finance will drive competition and innovation in the industry

(0:37:45) Open banking is not easily pitched to retail consumers as a positive thing

(0:40:09) Trust may not be the selling point for future generations in financial services.

(0:45:07) Diversity is important at all levels of the financial services industry

(0:49:33) Work with other industries to build inclusive financial products

SEARCH QUESTIONS

• What is the difference between open banking and open finance?
• How does open banking foster financial inclusion?
• What is open data in financial services?
• How do APIs enable secure data sharing?
• What is the role of regulators in open banking?
• How to implement open banking at national level?
• What are the benefits of open banking for consumers?
• How does screen scraping compare to API access?
• What is the future of open finance?
• How to build trust in open banking ecosystems?
• What are the challenges of deploying open banking?
• How does open banking improve competition?
• What is the journey from open banking to open data?
• How to reduce infrastructure costs in financial services?
• What is diversity in financial services policy?
• How to get into board positions in FinTech?
• What are the use cases for open finance?
• How does open banking work globally?
• What is the role of central banks in open banking?
• How to access younger customers in financial services?

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Production and marketing by Monica Millares. For inquiries about coaching, collabs, sponsoring the podcast or creating or editing your podcast email Monica at [email protected]

Disclaimer: This episode does not constitute professional nor financial advice and does not represent the opinion nor views of my current, past or future employers. The guest has agreed to record and release our conversation for the use of this podcast and promotion in social media.

Today I speak with Barry Levett, Co-founder and CEO at Mypinpad. Mypinpad strives to be the solution of choice for money on the move — making mobile transactions safe, easy and enjoyable and Barry confidently says they are known for being some of the best of the world!

We discuss building soft POS, the impact Mypinpad is having in society when it comes to financial inclusion, lessons from merging two companies with different but supplementary strengths and products and successfully creating an innovative solution, not flawless execution, their recent 30 million investment round, community, market expansion and much more!

If you enjoy this Purpose Driven FinTech episode it would mean the world if you subscribe and give it a follow so that we can have more impact. Remember to connect in YouTube or LinkedIn to keep the conversation going.

Let’s dive into it!

👉 You can find Barry here

• LinkedIn: https://www.linkedin.com/in/barrylevett/
• LinkedIn Mypinpad: https://www.linkedin.com/company/mypinpad-ltd/
• Website: http://www.mypinpad.com/

👉 And you can find Monica here:

• LinkedIn: https://www.linkedin.com/in/monicamillares/
• YouTube: https://www.youtube.com/@moni_millares
• TikTok: https://www.tiktok.com/@moni_millares
• Website: https://moni-millares.mystrikingly.com/

In this Purpose Driven FinTech episode we cover:

(0:00:30) Focusing on performance and creating a fast and compliant product

(0:01:12) Making transactions safe, easy, and enjoyable

(0:03:02) Failure is part of the entrepreneurial journey, but spotting failure early is important

(0:05:02) Limited resources can lead to creative problem-solving and learning opportunities

(0:08:03) Mypinpad's North Star and Financial Inclusion

(0:12:55) Performance and experience for creating a successful product

(0:14:27) The process of merging companies and creating something new

(0:15:27) Knowing when to stop doing what made you successful and start something new

(0:17:18) Getting buy-in from the team and maintaining communication during the transition

(0:19:16) Challenges faced during the process of change and transition

(0:22:47) The importance of effective communication and finding translation agents

(0:25:52) The recent success of closing a $13 million investment round

(0:26:11) Getting investments and the pressure that comes with it

(0:27:01) The importance of community and the journey in business

(0:28:30) The benefits of having experienced investors in the payment industry

(0:30:14) Successfully expanding globally without physical presence

(0:31:58) Understanding your role in the ecosystem and building around it

(0:33:34) Identifying what you can do better than anyone else

(0:35:16) Asking the right questions to develop a unique value proposition

(0:39:53) Sorting out processes and fixing issues in teams

(0:40:30) Enjoying the journey and finding fulfillment

(0:42:39) Need for international standards in fintech

(0:43:35) Simplifying regulatory frameworks for global expansion

SEARCH QUESTIONS:

• What is SoftPOS technology?
• How to merge two FinTech companies successfully?
• What are the benefits of SoftPOS for merchants?
• How to achieve financial inclusion through payments?
• What is the journey mindset in entrepreneurship?
• How to build community-driven FinTech products?
• What are the challenges of SoftPOS certification?
• How to create agency banking solutions?
• What is the role of community in FinTech success?
• How to expand FinTech to multiple geographies?
• What makes SoftPOS secure and compliant?
• How to avoid culture clash in company mergers?
• What is the importance of failing fast?
• How to build confidence in leadership teams?
• What is contactless payment on mobile phones?
• How to raise investment rounds in challenging markets?
• What are PCI compliance requirements for SoftPOS?
• How to bring ATM services to rural populations?
• What is the future of mobile payment acceptance?
• How to create international regulatory standards for FinTech?

—

Production and marketing by Monica Millares. For inquiries about coaching, collabs, sponsoring the podcast or creating or editing your podcast email [email protected]

Disclaimer: This episode does not constitute professional nor financial advice and does not represent the opinion nor views of my current, past or future employers. The guest has agreed to record and release our conversation for the use of this podcast and promotion in social media.