The Finterview - Fintech Exposed

In today's episode, our host Alistair Cotton engages in a conversation with our awesome guest Dorota Wróbel, G2A's Chief Research and Development Officer, as she shares invaluable insights on gender diversity in cybersecurity and the keys to success in the tech industry.

Dorota emphasises the unique contributions of women in cybersecurity and shares advice on starting a career in tech. With a focus on skills beyond technical expertise, Dorota highlights the path to excellence in the dynamic tech and gaming sectors.

Join us to get exclusive insights into her perspective on gender diversity and career advancement!

Expect to Learn:

• Evolving payment solutions to meet diverse customer needs.
• Challenges in navigating different payment regulations across countries and how G2A's comprehensive approach to security and AI-supported systems ensures a smooth payment experience.
• How G2A's hybrid model combines technology with human touch for optimal customer experience.
• Why Apple Pay and Google Pay have become popular payment methods for the masses.

In this episode, Rusiru Gunasena discusses the intricate connection between innovation, adaptability, and a flourishing career in the Fintech domain.

Rusiru sheds light on his goals at The Clearing House, showcasing areas such as real-time payment networks, navigating emerging technologies, and shaping the future of the payment ecosystem.

As we dissect global trends, Rusiru is deeply engaged in addressing the requirements of the Fintech market.

Expect to Learn:

• Rusiru's real-world experiences and learning from challenges that shaped his entrepreneurial journey.
• The challenges of dealing with international clients and diverse payment laws, and when human intervention becomes essential
• The significance of continuous learning and passion in entrepreneurship for growth in the Fintech sector.

In this episode, Ben Borodach shares the inseparable connection between innovation, adaptability, and a thriving entrepreneurial journey in the Fintech sector.

Ben outlines the company's goals, including tax coverage, supporting various tax use cases, enhancing year-round services, and embedding in financial platforms. Observing the global trends, Ben is currently focused on addressing the complex needs of the Fintech market.

Understand how Ben's investment experience has influenced his entrepreneurial approach. Exposure to diverse business scenarios, strategic decision-making, team selection, fundraising dynamics, and navigating industry trends have equipped Ben with a unique skill set for building a scalable and successful business like April.

Expect to Learn:

1. Real-world experimentation and learning from mistakes of Ben and the importance of hands-on experience in entrepreneurship.
2. How an entrepreneurial mindset is key in any profession?
3. How April copes with challenges for international clients, handles diverse tax laws, and when human intervention is required.
4. Varied business experience, strategic decisions, team selection, fundraising, and industry trend navigation build a unique skill set for business success.
5. The significance of continuous learning and passion in entrepreneurship for growth.

In this episode, Jas Shah discusses the product development life cycle in fintech and its significance for building successful fintech products.

He explains the stages of the life cycle, including ideation, discovery, design, build, launch, grow, and scale. Jas emphasizes the importance of having a clear mission and vision to guide product development and differentiate in the market.

He also highlights the need for ongoing customer feedback and the role of customer success teams in gathering and prioritizing customer input. Joshua shares examples of fintech companies that have successfully implemented the product development life cycle, such as TransferWise, and provides insights on how to balance customer requests with the overall product strategy.

Expect to Learn

1. Gain insights into the stages of the product development life cycle in fintech.
2. Understand the importance of having a clear mission and vision in product development.
3. Learn how to gather and prioritize customer feedback for product improvement.
4. Discover examples of successful implementation of the product development life cycle in fintech.
5. Gain tips on balancing customer requests with the overall product strategy.

In this episode, Amar Kotak interviews Carl Raven, Director of Issuer Technology Enablers at Visa. Carl has over 12 years of experience in the payments industry and is an expert in issuer processing.

The episode discusses the changing landscape of the card industry over the past 12 years, with a shift from cost-driven decisions to a focus on technology and services. Carl highlights the importance of program managers and orchestration layers in providing a holistic set of services under a single contract, reducing complexity and costs for fintechs. He emphasizes the need for fintechs and established businesses to keep up with customer demand and the role of tech partners in helping them do so. The episode also explores Visa's role as an enabler and gatekeeper of payments, providing infrastructure and support to its members and partners.

What to Expect:

1. Insights into the changing trends in the card industry and the importance of technology and services over cost.
2. The value of program managers and orchestration layers in simplifying the launch of card programs and reducing costs for fintechs.
3. The role of Visa as an enabler and its commitment to providing value and support to its partners.
4. The importance of time to market and customer experience in launching successful card programs.
5. The future of the ecosystem and the potential for more program managers and orchestration layers to enter the market.

In this episode, we are joined by Elliott Limb, a renowned expert in fintech, and the CEO and co-founder of Cubed. Elliott's diverse background, from pivotal roles in traditional financial institutions to embracing fintech innovation, gives us unique insights into the world of finance and technology.

In this discussion, we explore the complexities of venture investments within the fintech sphere and discover Cubed's distinctive approach to fostering business growth. We delve into the art of timing in fintech expansion and examine the evolving perspectives of major financial institutions, the role of tech giants, and the centralization vs. decentralization debate.

Expect to learn:

• Causes of High Failure Rate in VC Investments
• How Cubed Aids Businesses
• The Art of Timing
• Big Banks' Perspective on Fintech
• Shaping Future Banking Strategies
• The Future of Banking and Payment Innovations
• Impact of Regulation and Liquidity on Innovation
• The Impediment of Innovation in Consumer Banking
• Integrations: Evolution and Limitations
• Why Tech Giants Hesitate in Banking

Ajit Ramachandran is a seasoned product and commercial focused executive with experience at large players in the fintech space such as Barclays and Intuit. He is also an advisory council member to Pay UK.

Ajit discusses his journey into fintech and the importance of transparency and authenticity in business relationships. He emphasises the need for fintech entrepreneurs to have a long-term perspective and to understand the target customer and their needs. He also highlights the value of combining technology, product, and commercial expertise in the fintech industry. Ajit shares insights on open banking and the opportunities it presents for small businesses. He provides advice on how fintech entrepreneurs can pitch to larger organisations and win deals. He also explores different models of collaboration between fintechs and banks, including supplier relationships, distribution partnerships, and strategic partnerships.

Key Takeaways:

• Transparency and authenticity are core values in business relationships.
• Fintech entrepreneurs should have a long-term perspective and understand the needs of their target customers.
• Combining technology, product, and commercial expertise is important in the fintech industry.
• Open banking presents opportunities for small businesses to simplify payment processes.
• Fintech entrepreneurs should put in the effort to pitch to larger organizations and be clear about their capabilities and roadmap.
• Different models of collaboration between fintechs and banks include supplier relationships, distribution partnerships, and strategic partnerships.

Aaron Carpenter is the CEO of Transact Payments Limited. He has a background in law and has worked in various roles within the financial services industry. Aaron has experience in advising fintech companies and has a deep understanding of the regulatory landscape.

Aaron Carpenter, CEO of Transact Payments Limited, discusses the challenges and opportunities in the Fintech industry. He emphasises the importance of letting go as a founder and the dangers of not doing so. Aaron also talks about the evolution of Transact Payments and its role in supporting fintechs and companies looking to embed financial products into their offerings. He highlights the need for continuous improvement and the value of a good sponsor in launching a successful card program. Aaron also touches on the complexities of compliance and the impact of Brexit on the industry.

Key Takeaways:

• Letting go as a founder is essential for the growth and success of a business.
• Continuous improvement is key to evolving and staying competitive in the fintech industry.
• Choosing the right sponsor is crucial for launching a successful card program.
• Monetising a card program goes beyond relying on interchange fees and requires offering value-added services.
• Compliance and regulatory challenges are significant for fintechs and require thorough due diligence and a consultative approach.

Chris Jones is the Managing Director of PSE Consulting, a firm that specialises in helping fintech companies navigate complex buying procedures and payment flows. With over 20 years of experience in the industry, Chris has worked with major players in the merchant and payment supplier communities, including eBay, Google, and Mastercard.

Key Takeaways:

• The banking industry can only make money through risk, particularly in the provision of credit.
• Fintech companies face funding challenges and changes in the market due to new technologies and big sponsors.
• Customer inertia plays a role in the adoption of fintech products, but younger generations may be more open to alternative banking options.
• Traditional banks need to adapt to the threat posed by fintech startups and the changing preferences of customers.
• Friction can have value in financial services, providing security and confidence for customers.
• Fintech startups should focus on listening to customers and building their requirements into products.

Jeff Parker is the Senior Vice President at Marketa, leading the UK and European divisions. He has a diverse background in financial technology, having worked in traditional banks and investment banks before transitioning to the world of payments. Jeff has held various leadership roles in international payments businesses and has extensive experience in building and scaling fintech companies.

Jeff discusses the current market landscape for fintech businesses and the opportunities that arise from the challenges they face. He highlights the importance of embedded finance in providing seamless financial services within non-financial experiences. Jeff also shares his insights on the future of banking, the role of AI in financial services, and the potential for AI to improve efficiency and customer experience.

Key Takeaways:

• The way credit is assessed and the outdated criteria used by traditional banks often exclude individuals and businesses from accessing basic financial services.
• Embedded finance involves integrating financial services into non-financial experiences, creating a seamless user journey and enhancing brand value.
• Marketa serves as an infrastructure platform, enabling its partners to leverage embedded finance and provide tailored financial products and services to their customers.
• AI has the potential to improve efficiency and effectiveness in various areas of financial services, including credit underwriting, customer service, product development, and risk management.
• While AI may replace certain tasks, humans will still be needed to review outputs, derive insights, and take actions. New jobs will also be created as the economy evolves.