Success often depends on how we interpret it, but success in the field of Fintech companies follows simple guidelines. That is fantastic news if you are looking for a simple formula to the top, but could quickly become a problem if you are not willing to put in the hard work that goes hand-in-hand with being successful. Being a successful entrepreneur is a lot more than building startups. No one knows this better than Rati Tchelidze, Founder and Director of Axios Holding, one of Europe’s leading FinTech companies.
In a recent interview with the Ukrainian Financial magazine FinClub, Rati Tchelidze says success relies on the individual’s desire to understand not only the subtleties of their industry, but also the ability to put in the work to acquire the practical knowledge necessary for carrying out a task, and in this case, running a business.
No other industry captures this better than the Fintech industry which comes as an alternative to the traditional financial sector, and not only an alternative that replaces but rather enhances the way banks and financial institutions run their day-to-day affairs. That includes and extends to IT where the freedom to learn and grow – should you want to – is huge. In other words, the freedom of a global, interconnected world, combined with the hard knowledge and drive, means that you can leap over economic gaps and Fintech is one way to move forward.
One key aspect of the Fintech business is not to just come in guns-a-blazing and try to uproot the competition aggressively. Rather, the Fintech business appreciates others’ ingenuity and tries to incorporate it into a larger structure, as Tchelidze says about his own company, Axios Holding, which has been a leader in what are now several sectors, including education, finances, and IT.
Learning – The Key To Success
To be able to make it to the top, however, the formula must be met in full. Individuals should be prepared to always question, to always learn, and improve. As it turns out, Fintech companies are in fact quite competitive, mutable, and impressionable.
One thing that is a “bad idea” or a “no starter” today is transformed into something industry-altering the next day. Financial businesses are being transformed into a Fintech reality. Yet, Fintech is hardly just about being driven to financial results. Rather, it’s a way to be an ambassador of change.
Of course, IT and Fintech aren’t immunized to the pitfalls of a global pandemic, for example, something that Tchelidze notes himself in the aforementioned interview.
The FinTech Industry During The COVID-19 Pandemic
Faced with a global disruptor such as the coronavirus pandemic requires a careful, pace-driven approach that allows every company to assess risks and emerge stronger. Yet, Fintech, whatever it creates, however it changes and adapts, should always boil down to one simple truth, being useful, not just to itself, but creating value to consumers in ways that are moral and verifiable and important to everyone involved.
This is just an idea and not a defining trait for the entire industry. Fintech has been transforming itself in exciting ways in the sense that it empowers everything today. There are the banks and electronic payment services that have been able to provide consumers with quick payments that require no fees, forcing banks to rethink their revenue model and to stop asking consumers to invest so much of their own money or pay fees for services.
In many ways, Fintech companies are a force for good in the world. Yet, to be able to assess them and to especially bring them to a place where Fintech companies are widely successful, we will first need to ask ourselves – how do we build our own Fintech solution and more importantly, what its purpose is.
To build up to success, you need to be prepared to walk the long path. It requires commitment and an inquisitive mind. That is a mind that never gives up and strives to excel every step of the way. Challenges will abound, but the important thing is to remain focused and drive towards that one end goal.
For information about Axios Holding or investment opportunities please contact Mr. Rati Tchelidze at Axios Holding.