Last year, we posted an article with some simple steps that we’d recommend to other businesses starting out in Fintech.
Things have changed a little since then. In the past year, we’ve doubled in size, processed €1 billion in client payments around the world, and officially gone from startup to scaleup. Here are a few new lessons we’ve learned in the past year.
Whether you’re a new Fintech, an established payments provider or otherwise, we hope they help:
Customer experience really is everything. Ensuring our technology and our customer service is as seamless as possible is our number one priority. In today’s world, it can be tempting to overly rely on technology and automate as much as possible. We’ve learned it pays to ensure you’re investing in customer satisfaction, running regular user testing and research sessions, and actioning the feedback you hear. In a world that shouts, be brave enough to listen.
Don’t be afraid to re-evaluate and adapt your strategy. Fintech is an ever-changing industry, and it’s important to not only keep up with this, but make sure you’re making the necessary changes internally to stay relevant. If you want to stand out in the Fintech space, sometimes you need to do things as they’ve never been done before.
Hiring the right talent is integral to success. This means making sure you’re hiring inclusively and equally, providing the right learning and development for retainment, and, most importantly, taking your time when recruiting. The talent is out there – it’s your job to be as attractive as possible as a business to get the right people in. Plus, the most thriving company cultures actively seek talent that will be a culture-add, not just a culture-fit. A truly inclusive company culture is good for business.
Focus on collaboration over competition. It’s no secret that it can be difficult to secure banking relationships in Fintech, but it’s not impossible. The market has created a fair mechanism that allows Fintechs to enter the space, learn and improve as they go. With the experience we have now, we know that Fintech success truly happens when you work with – not against – larger players.
Looking back on this has made us proud. We now offer our very own API, 40+ currencies to transact with, and payment access to 190+ countries, all from a single, easy-to-use business dashboard.
And the best part? We’re just getting started. Watch this space for more business lessons, Fintech tips and company news.