What makes a successful fintech disruptor? There are many factors and some key commonalities among the most successful players in the space.
This article discusses ten things that most fintech disruptors have in common. Read on to learn more. Here are the top ten:
Fintech disruptors are not afraid of a challenge. They are relentless in their pursuit of innovation, and they never give up easily.
Tenacity means being willing to fight for the company’s vision, no matter what obstacles are in the way. It also means being persistent and never giving up on one’s goals.
Disruptors are constantly innovating and bringing new ideas to the table. They are not content with the status quo, and they are always looking for ways to improve their products and services.
Innovation means being creative and thinking outside the box, and it also means being willing to take risks and try new things. It is essential for any company that wants to stay ahead of the curve.
Disruptors know that collaboration is critical. They are willing to work with others to achieve their goals, and they know that teamwork makes the dream work.
Partnerships enable companies to combine their strengths and create a powerful force. When disruptors collaborate with others, they can achieve great things.
Disruptors have a clear vision for the future. They know where they want to take their business, and they are always looking for ways to make that vision a reality.
Companies need to have a strong vision. A clear vision provides direction and helps to keep the team focused on the goals.
Disruptors have a solid strategy in place, and they stick to it. They know what they need to do to succeed, and they are not afraid to take risks.
Having a solid strategy is essential for any company. It provides a roadmap for success and helps to minimise the risk of failure.
Disruptors know how to execute their plans flawlessly. They have a strong focus on detail, and they never cut corners.
Execution means putting the plan into action and making it happen. It also means doing things the right way, with attention to detail. Disruptors can be perfectionists when it comes to execution.
Usually, pain points inspire disruptors to start their own companies, and they are generally very purpose-driven in their work. They want to solve a problem and make a difference in the world.
According to Gareth Gumbley, the founder of Australia’s leading Open Banking fintech Frollo, “Looking back, I think being a purpose-driven fintech helped me navigate the product and business decisions in challenging times when we had less traction.”
Without speed, disruptors would not be able to keep up with the competition. They are constantly moving quickly, and they never rest on their laurels.
“Most fintech disruption occurs because everyday people are demanding speed, accuracy and flexibility in their financial dealings,” said Aaron Bassin, Founder and CEO of Bridgit, a fintech non-bank lender specialising in bridging loans.
Disruptors put their customers first. They understand that they would not be in business without customers, and they work hard to ensure that their customers are happy.
Focusing on the customer is essential for any business, and it helps build customer loyalty and create a strong base of advocates.
Disruptors are not afraid of disrupting the status quo. In fact, they thrive on it. They are always looking for new ways to shake up the industry, and they are not afraid to challenge the establishment.
Disruption is essential for any company that wants to stay ahead of the curve, and it helps to shake up the industry and introduces new ideas and innovation.
The bottom line
These are just a few of the traits shared by many successful fintech disruptors. There are several others, but the ones listed above are among the most essential.
It’s always helpful to have some of these traits in mind when it comes to starting a new fintech business or expanding an existing one.