This week we are re-introducing Sophie Guibaud – Chief Growth Officer at OpenPayd. Last time we caught up with Sophie about a year and a half ago in Amsterdam we discussed banking as a service. A lot in the world has changed since then and the new buzzword we are hearing around the industry is around embedded finance. Put simply, embedded finance is providing the ability for anyone in the market to offer financial services to their own customers. This encompasses many aspects and components including banking, lending, card processing, open banking, etc. The world of embedded finance is evolving rapidly and and Sophie is a key figure in the space to stay close to as this journey continues. Listen in below as Sophie and I discuss further.
How/why did you get into your space?
I started off in M&A, then moved to startup investment and then joined Rocket Internet to launch HelloFresh in the UK. I then moved to Fintech, joining Bankable as head of product strategy and then Fidor to launch the bank in the UK and became the head of sales for our B2B arm in Europe. I am currently the Chief Growth Officer of OpenPayd.
What role do you play in the tech ecosystem and why is that role important?
I have been involved in banking as a service for the past 9 years, since the concept started. I have seen it evolve a lot from offering the ability for banks and startups to launch their own neobanks to now for any organization to be able to offer financial services to their customers through embedded finance. The typology of banking a service providers has evolved a lot of the years and there is now a diversity of players able to cater to different customer and end-customer segments’ needs.
I also support Fintech startups through mentoring and advising. I joined the L39 Fintech startup bootcamp as a mentor in the early stages and continue to play an active role.
How has technology impacted your industry and why is this important?
I believe that the use of APIs since 2008 or so has had the biggest impact.
APIs are enabling growth, facilitating innovation and fostering collaboration among companies, giving them the ability to provide a better customer experience to the end user.
What do you believe is the most exciting tech trend for 2021 (as it relates to your industry)?
2021 will be all about embedded finance and how organizations can offer financial services to their customers for a more relevant overall experience – without having to heavily invest in tech or have their own licences. The most exciting news of the recent months is for the arrival of Stripe in the market by leveraging the banking rails and services of the likes of Goldman Sachs. Embedded Finance is gaining momentum and this is just the beginning.
Who is a person that inspires you in the space and why?
Christine Lagarde for being brave enough to take a progressive position towards crypto as head of IMF and for taking a stand on gender equality at work.
What advice would you give to someone who wants to get into your space?
– Start by asking for mentorship in the topic you want to master.
– Read and listen to podcasts (Fintech Finance and 11FS) to understand the industry more in depth.
– Develop your network: Look into your existing network and see who is connected to Fintech / Bank Innovation people that could introduce you to them.
#businessunusual #embeddedfinance #fintech #finance #openbanking #bankingasaservice #baas #lending #payments #banking
Have thoughts on this week’s trends or questions for me or Sophie? Post your thoughts in the comment section or share them on Twitter. Please include the hashtag #techtuesday and mention me @ScarlettSieber! Until next week. 🙂