May the force always be with you

When one has this force within constantly calling her / himself to solve problems encountered daily, create value, save the world and enjoy life more, we call this force “entrepreneurship”. This fire within is not always easy to cool down, so once felt deep inside, better to turn it into some business ideas and operating successful enterprises.

Many entrepreneurs spin the Fintech wave nowadays and need to be confident and forceful to avoid imminent wipeout.

There are several key elements to consider in the book of the Fintech entrepreneur.

Being focused on the customer to understand their evolving needs is the foundation of the innovative business model of the Fintech startups. Target customer pool consists mainly in technology generation and financially excluded population around the world. Customers have different needs and attitudes. These segment specific attributes are to be well explored in business model creating and operating model building.

The scalability of the business model needs to be well defined and valued. Fintech startups are targeting to launch business models that can be recreated, adapted and expanded across the globe easily. This parameter is very impactful in the investor’s valuation and interest in the startups.

The “mobile first concept” is the source for the creation of Fintech solutions. The easy use and accessibility 24/7 are the criteria to match at first.

The financial inclusion is the number one objective in creating both economic and social value. Not only applicable to the 40% of the world population identified as unbanked but also to the refugees and immigrants being forced to leave their homes and lost their social identity for an undefined period.

More and more Fintech business models bundle several services under one roof in order to create scale and interest. Using the same infrastructure and resources, Fintech startups are looking to leverage their customer base to offer more, please more, ease life more while keeping their cost structure as low as possible.

Ability to merge finance experience, business management skills and technology knowhow make great startups greater. Cloud technologies, artificial intelligence, blockchain and even the way of looking and creating APIs remain on the top of the technology skill set of Fintech entrepreneurs.

Exciting to be a Fintech player nowadays! These guys are of a large range of age, background and professional experience, which makes Fintech space as colourful as a rainbow.