Michelle Beyo, CEO, Finavator
Michelle Beyo of Finavator
Michelle had founded Finavator five years prior, largely inspired by winning Money20/20 in 2019 and joining the RiseUp community. The publicity from this achievement motivated her to start the firm, and within 24 hours, she created Finavator, where she served as CEO.
Michelle explained that Finavator was established after her extensive experience in various sectors, including six years in telco, eight years in online shopping, and three years in prepaid. She also launched WeChat North America and then transitioned to a blockchain company focused on digital identity. Her win at RiseUp propelled her to create Finavator, a consultancy aimed at helping organisations understand and integrate future financial technologies to capture new market shares and grow in North America. This included fintech collaborations, buy now, pay later systems, BaaS infrastructure, embedded finance, and open data.
Michelle mentioned her long-standing association with RiseUp, noting that she was moderating a panel at Money20/20. The panel focused on embracing risk, a concept she strongly believed in as an essential part of entrepreneurship and innovation. She highlighted that taking risks, such as asking questions publicly or participating in speaking engagements, could lead to greater visibility and opportunities. Reflecting on her own journey, Michelle acknowledged that starting Finavator just six months before the pandemic was particularly risky. However, the pandemic allowed her to focus on the US market and grow the company by providing remote advice, leading to collaborations with companies like Discover, Prove, and Teilo.
Michelle also discussed the Finavator Masterclass, which was inspired by the collapse of SVB in California and the resulting market uncertainties. To address the lack of accessible knowledge on complex financial topics, she began a series of “ask me anything” sessions, which evolved into a comprehensive Masterclass. This course aimed to educate people on ten key elements affecting the future of finance, including BaaS, embedded finance, open data, digital identity, Web3, blockchain, and digital currency. The goal was to simplify these complexities and foster innovation in the financial services ecosystem.
Michelle stated that Finavator mainly found talent through referrals, benefiting from a strong community network. She emphasized the importance of LinkedIn for job postings and leveraging one’s network. Regarding the company structure, Michelle explained that the team was based in various parts of Toronto, with clients in the US and UK. The team met monthly for a Finavator lunch, as they did not establish an office due to starting during the pandemic. She highlighted the focus on comfort and innovation for employees, noting that all team members happened to be F1 fans.
Jill Docherty, Senior Vice President, Global Issuing, Nuvei
Jill Docherty of Nuvei with Graham
Jill explained that launching the card issuing solution was a crucial step for Nuvei, enhancing their existing payment capabilities and allowing them to offer more comprehensive services to their merchants. This move aimed to differentiate Nuvei in the marketplace, with plans to expand to Europe, the UK, the US, and Canada.
Regarding Money20/20, Jill discussed her involvement in the RiseUp program, which addresses diversity challenges in fintech. She highlighted the importance of gender diversity and supporting women and non-binary founders through mentorship. Jill accentuated the significance of discussing real issues, including failure and resilience, to provide meaningful insights to the audience.
Jill noted that RiseUp’s success lay in fostering diversity of thought, which she believes is essential for high-performing teams. She advocated for recruiting individuals from diverse cultural and gender backgrounds to prevent groupthink and promote innovative thinking.
Jill emphasised that fostering a diverse culture in an organisation involves ensuring everyone feels they have a voice, leading to productive debates and multiple perspectives. Reflecting on her experiences with companies like Visa, Mastercard, and Nium, she stressed that people are the core asset and must be prioritised. Jill’s approach to building a strong workplace culture focused on trust, personal accountability, and authenticity. She highlighted the importance of leaders being self-aware and authentic, and fostering an environment where hierarchies are minimised, with everyone working together as a team.
Mitch Trehan, Chief Compliance Officer, Allica Bank
Mitch Trehan of Allica Bank at the stand with Debbie West
Mitch explained that Amplify program, established in 2021, focuses on empowering individuals of colour, similar to the RiseUp program for women. Since its inception, around 400 participants have completed the program, with 99% recommending it and 95% feeling better positioned for promotions and speaking up at work.
Regarding meritocracy and unconscious bias, Mitch highlighted the debate on meritocracy’s validity and its complexities. He aimed to discuss how leaders can recognise and support diverse talents, noting differences in communication styles and confidence levels among various ethnic and gender groups.
On remote and hybrid work, Mitch mentioned Allica Bank’s success with these models, which broadened their employment pool. He discussed the compliance challenges, emphasising the need for a diverse skill set in smaller teams and the trend towards seeking generalists rather than specialists.
Mitch attributed Allica Bank’s rapid growth to its focus on supporting established businesses with unique banking needs, offering lending, payment services, and credit interest, which were previously unmet by incumbents. This strategy positioned Allica as the fastest-growing fintech in the UK.
Bahadir Yilmaz, Chief Analytics Officer, ING
Bahadir Yilmaz of ING at the stand with Graham
Bahadir discussed the significant opportunities AI presents in the banking and financial services sectors, highlighting how generative AI, like ChatGPT, initiated a new wave of AI transformation. He noted that the first wave began a decade ago with big data and machine learning, which banks used to improve chatbots, lending propositions, and other services. The new wave focuses on knowledge-based innovations, leading to more customer demand for seamless digital services.
At ING, Bahadir mentioned their early adoption of AI technologies and outlined five priority areas for generative AI: contact centers, know-your-customer processes, software development, lending, and marketing. He highlighted the potential for AI to enhance efficiency, effectiveness, and quality across these domains.
On attracting tech and analytics talent, Bahadir acknowledged the scarcity of experienced professionals. ING’s approach included upskilling current employees, hiring proficient profiles, and providing cutting-edge technology. He emphasised the importance of creating an environment where talented individuals could thrive, noting the challenges of balancing legacy systems with modern technologies.
Looking ahead, Bahadir envisioned a future where more banks and startups would adopt AI, leading to increased innovation and new use cases. He anticipated that the maturation of product layers on AI technologies would drive further advancements in the financial industry over the next several quarters.
Anne Willem De Vries, CEO and Co-founder, Silverflow
Anne Willem De Vries of Silverflow with Debbie West
Anne Willem explained that Silverflow is a modern acquiring processor designed to simplify backend payment processes that typically involve complex connections with card networks like Mastercard, Visa, and Amex. Traditional systems are outdated, so Silverflow built a new platform using cloud technology and microservices for speed and efficiency.
He announced the establishment of a supervisory board to ensure good governance, with Dagmar van Ravesteijn as chairwoman. Her extensive regulatory experience and understanding of company operations were seen as valuable assets. Anne Willem also highlighted a connection with Remote through a shared board member from their seed investor, INKEF.
He emphasised the transformative power of payment technology in simplifying complex international transactions, aiming to make payments easy and accessible. To keep their global team connected, Silverflow holds daily stand-ups, hosts annual events, and uses tools like Remote and Slack. Looking ahead, Anne Willem stated that Silverflow’s focus is on execution. After building and testing their platform for three years, they are now commercially ready and aim to continue their strong growth, particularly with an upcoming launch in the US.Top of FormBottom of Form
Dima Kats, CEO, Clear Junction
Dima Kats of Clear Junction with Debbie West
Dima, the CEO and founder of Clear Junction, recounted the company’s origins and growth. Established in 2016 to address the difficulties financial institutions faced in opening accounts with banks, Clear Junction received its EMI license from the FCA after a year. Operations began in 2017, achieving profitability by 2019. With a team of 140 professionals across offices in London, Latvia, and Poland, Clear Junction continues to focus on providing payment services to financial institutions.
Dima explained that their core service is offering payment and treasury services to financial institutions, including banks and crypto companies. Despite banks being among the most underbanked entities, Clear Junction built its business by managing the regulatory risks of correspondent banking. They provide crucial correspondent account services to hundreds of financial institutions.
Regarding the benefits of their remote, distributed team, Dima highlighted access to diverse talent pools in different regions, particularly in Poland and Eastern Europe. This approach not only reduces costs but also leverages cultural diversity to enhance problem-solving and operational resilience.
Looking ahead, Clear Junction plans to expand its payment rails and supported currencies. They are also rolling out new services, including stablecoin payouts and cryptocurrency payments, while maintaining their focus on providing essential services to other service providers.
