Fintech Farm’s annual Slush side event, Helsinki Fintech Loop (formerly known as Fintech Pool) brought together hundreds of fintech founders, investors, and bankers.
Besides karaoke – and having a good time – the evening’s theme was ”how to scale fintech globally”, and we got some solid tips from our event partners. If you missed them at the party, we’ve gathered a handy summary for you below.
Waselius & Wist
Our Financial Regulatory Practice Group comprises a dedicated team of approximately ten lawyers who specialise in various types of financial regulatory matters; essentially everything that the Finnish Financial Supervisory Authority supervises. We represent all kinds of financial institutions and market participants from the smallest and the most agile fintech ventures to the world’s largest banks and payment service providers.
Their tips:
Culture of prudent practice:
- Understand your operations.
- Make sure that your governance structure is flexible enough to ensure operating within the boundaries of the most relevant regulations.
- Avoid unnecessary risks, such as operating without the required license.
M&A procedures and the significance of due diligence:
When scaling up through acquisitions, we want to highlight the importance of the due diligence procedure.
- Know precisely what you are acquiring.
- Avoid engaging with services lacking the appropriate licenses or registrations.
FIS
FIS is a global provider of financial services technology and outsourcing solutions. It is the global leader in FinTech, which is the development of Financial Technology. FIS serves various sectors, such as retail, commercial, and institutional banking, capital markets, and insurance. FIS enables the movement of a third of the world’s money every day and every second.
Their tips:
There is no secret sauce for success, however, we believe there has to be a personal connection to the subject, area and the problem you are solving, due to being credible in the sense of understanding the challenges. Stay focused on the quick wins, early business benefits, be structured and then, get your (recurring) payment model up to speed.
AWS
AWS is widely revered as one of the top cloud services used among companies of all sizes around the world. AWS provides the expertise and infrastructure that powers bold ideas around the world, helping our StartUp customers to develop, launch, and scale their businesses using AWS cloud technology.
Their tips:
Utilize the AWS tools, resources and programs necessary to help your business flourish:
DoiT
DoiT works with fast growing, digitally native Startups globally, to help solve essential and complex cloud challenges. Combining intelligent FinOps software that simplifies and automates cloud use with expert consultancy and unlimited technical support from a team of over 200 senior-level engineers, DoiT delivers the true promise of the cloud – with ease, at no cost. DoiT’s technology is backed by deep AWS cloud expertise in the analytics, optimization, and governance of cloud architecture, as well as specializations in Kubernetes, artificial intelligence, and more.
Their tips:
● Leverage DoiT’s Flexsave product for EC2 to lower your cloud compute costs – for Moralis it saved 10% on compute
● Conduct architecture and security reviews of your platform to ensure performance and reliability of your business
● Integrate AWS AI/ML services to help enable innovation, automation, risk management and enhance their customers experience.
inGain
inGain was launched in 2022 by a team of founders who are among industry pioneers to custom build the first loan management systems for online lenders back in 2011 and further serving 50+ lenders globally. inGain’s mission is to unleash the fintech potential for any imaginable venture. The company empowers lenders to scale their loan portfolios without the hassle of IT management. For non-finance industries, they seamlessly integrate fintech products into their customer journey and unlock new business opportunities. All of this can be accomplished within weeks using inGain’s no-code SaaS loan management system.
Their tips:
- Say “no” to many of opportunities
- Sell to your network and leverage it for warm intros
- Don’t offer discounts without getting something in return
Together with
