THE Future / OF / Fintech

Spiros Margaris on the World of Fintech

Spiros Margaris is ranked as the number one finance influencer globally by Refinitiv (Thomson Reuters) and the top fintech influencer by Onalytica. Mediaplanet interviewed him about the ever-scaling future of fintech.

Howdid you get involved in theworld of fintech?

Many moons ago, I started a fin tech company before the industry was even called fin tech. I became involved in the hedge fund industry by investing and raising money for some fintech startups when the industry was still very young. I guess I was inthe right place at the right time when the digital disruption of the financial sector picked up speed. We still have along way to goto change the financial industry and achieve its real potential. We want fin tech to be like the air we breathe—for it to be all around us, without us needing to think about it. That’s the ultimate future of fintech.

Many consumers are hesitant to adopt fintech. What are someways that we’re already interacting with this technology thatwe might not be aware of?

Fintech is everywhere — even before we coined the phrase “fintech.” Some people may choose not to use a challenger bank, for instance, but I’m certain they’re exposed to fintech, whether they want to be or not. Fintech is so much broader than the known business-to-consumer startups that some might associate with the industry. If you go to withdraw money from an ATM, there’s fintech behind the scenes enabling this process. Even paying for purchases and sending money involves fintech. To round it off, every incumbent bank uses fintech to keep up with the digital transformation continuously happening and accelerating.

What advice do you have for fintech entrepreneurs looking to gain exposure and scale?

Succeeding as a fintech company is like cake — you need many good ingredients to make it tasty. Beyond assembling a great team, it’s important to focus on what the customer needs. This is validated by gaining customers. However, the crucial element is strengthening your brand. If you have a strong brand, make sure it’s noticed, or you’re wasting an opportunity to show the world what you have to offer. Believeme, every successful startup understands just how important a strong and known brand is to its success.

To learn more from Margaris, visit margarisventures.com or follow@ Spiros Margaris on Twitter.