Fintechs

Developing a Fintech, which has proven its business model and turning it into a sustainable & profitable organization is a big challenge.

Fintechs need to keep up with change and development and adapt to new regulations, technologies, and learn to quickly overcome new barriers whilst fighting for customer space.

Customers, employees and stakeholders expect more from the organization and its leadership. It can seem like there is no time to develop and deliver what they expect, because daily business is demanding.

Ideally we recommend to execute this phase with good planning as it will pay off in much higher scalability. But if the silos are already there, each new day is a chance to start working on returning to higher efficiency.

Highly specialized external support, which can execute such a change in fast paced, and remote working set up, can speed this process up dramatically.

Players in the financial ecosystem need to focus on internal structure strengthening, innovation and incorporating new tools to gain competitiveness and sharpen strengths in their internal cultural development, leadership and team development skills.

As teams strengthen, they can focus on striving within the ecosystem to offer innovative alternatives for democratization of financial services, as well as new product propositions to increase user retention and offer excellent user experience.

Moreover, facts show that some fintechs have a lack of understanding of their niche, their target audience and how to prioritise the product backlog to stay relevant and win more of the right customers.