FINTECH
Top six fintech startup tips
Be regulation savvy
Identify a niche
Go shopping for tech stacks
Be regulation savvy
Hire an expert team
Get funded thinly , over promising and under delivering , which will impact negatively on customer experience . Another mistake is going off track and veering into a market you know little about . It ’ s easy to have your head turned , but keep laser-focused and be a specialist .”
Luc Gueriane , Chief Commercial Officer at
Moorwand , a payment solutions provider , agrees that focus is critical to success . “ My advice is to focus on one or two solutions that you know you ’ ve nailed and that will gain a lot of attention . By doubling down on specialisms , fintechs have a clearer path to success ,” he says .
While the digitisation of businesses has accelerated over the past 12 months , conversely , it has made life more difficult for fintech startups , points out Gueriane .
“ Launching a fintech has never been easy but the market has certainly gone through a dramatic shift that makes it harder ,” he says . “ The pandemic has taken a lot of companies to new heights – especially those in digital payments . But it is now more challenging to access funding unless you ’ re an established brand who has already proved itself or you have a very specific solution that addresses a small but important problem in the market .”
However , despite the logistical issues that are plaguing all businesses , some experts believe fintech startups have had an easier time than other companies in adjusting to the ' new normal ' due to the nature of their size and structure . " Smaller businesses and startups are more nimble and have the ability to adapt quickly . I see that as