The Trials and Tribulations of Growing a Fintech – Roundtable breakfast

The most recent event within our Fintech Leaders Thought Forum Series was a Roundtable Breakfast discussion held at the Andaz Hotel, where we were joined by several senior Fintech Leaders from OakNorth, 10X Banking, Modulr, Shield pay, Molo Finance, Clearbank and Previse to get some first hand perspective and what it’s really like to found a scale a Fintech business.

Our group of Tech Evangelists and Banking Disruptors shared stories around the challenges they have faced when striving to build the new era of banking propositions, and discussed what it really means to be successful and what it takes to “get it right”.

The topics covered:

  • Funding
  • Monetization & Growth
  • Attracting & Retaining Talent

Some Insights from the Discussion…

“When looking for investors, you have to kiss a lot of frogs before you find one that believes in your proposition and doesn’t try to change it to something they feel comfortable with”

  • David Brown, Previse

“The danger for Fintech’s are thinking that having a partnership with a large bank is a ticket to success, but these small innovation teams within the bank can be restricted in budget and still hold a lot of bureaucracy meaning projects can go into a dead end if you don’t have the right people on the banks side”

  • Leigh Pepper, 10x Banking

“Cultural within leadership is vital in order to set the right tone at the early stages of developing the company and you need to define a clear vision of what you want to achieve as a business and hold onto that”.

  • Willem Wellinghoff, Shield Pay

“Be proactive and not reactive with change, think 18 months ahead as appose to waiting until the last minute as that will inevitable slow things down”

  • Jon Salter, Clear Bank

“Compliance does not need to be a barrier for innovation, however compliance need to understand product and vice versa and bring both on the journey together, so we can still retain that blue sky thinking and all parties understand the vision”

  • Willem Wellinghoff, Shield Pay

“The one thing in an interview I always look for, is how well do they understand the business as that demonstrates why us and not any Fintech, which is important when looking to grow the right culture for us”.

  • Ambitabh Ghatak, Molo Finance

For more insights and if you are interested in our future events, please get in touch: Stephen.dickens@quratednetwork.com