MarTech Edge Interview with Nicky Senyard, CEO & Founder, Fintel Connect

Can you walk us through the journey that led to the inception of Fintel Connect?

Like every great journey, it started with a problem. About a decade ago, Enterprise Bank in Canada approached us, seeking our expertise to manage and run their affiliate program. This marked our introduction to the world of financial services and affiliate programs. I don’t think Fintel Connect could have existed as a business specializing only in financial services back then. The changes in technology, consumer appetite, the way people use mobile phones, and the additional layers of security involved have allowed for the existence of digital account opening and loan origination systems. These advancements facilitate the power of Fintel Connect because we leverage all those things.

Being female-founded and female-led, how does Fintel Connect differ from other organizations?

The distinction, in my opinion, lies not in our female orientation but rather in our deliberate approach. Like many other businesses, not necessarily limited to this field, we place great emphasis on culture, team building, and making meaningful contributions. We are committed to making a difference.

How do Fintel Connect’s partner management technologies sort things out for organizations?

Our tool, Fintel Performance, offers scalability by providing a solution for financial clients who wish to access multiple affiliates without the need for custom handling. Additionally, it serves as a destination for numerous affiliates seeking high-quality financial products. Essentially, it is a classic affiliate technology that enables both sides to leverage their capabilities. However, our focus lies in catering to the specific and specialized requirements of the financial services niche.

As the world is turning towards AI, how do you plan to leverage it for your business goals?

We are already implementing it. We have compliance technology that leverages AI and machine learning to streamline complex processes and remove the burden of manual tasks. I often compare it to the evolution of calculators, which were once considered advanced technology but are now considered tools. Therefore, I believe that AI and machine learning should be viewed as tools rather than substitutes for intellectual ability. They allow us to leverage their capabilities and enhance our operations.

What organizational and business strategies do you implement to sail through economic downturns like the one right now?

The practicality of managing inflows and outflows of money must be closely monitored to ensure value is delivered. We aim to address real problems and provide meaningful solutions on behalf of our clients. This purposefulness in our relationship is not manufactured; it genuinely holds utility and impact.

How do Fintel Connect’s solutions stand out from the other rival products in the fintech space?

I firmly believe that our strength lies in the fact that we are part of the community and dedicated to serving the community. This distinction sets us apart from other solutions that may also engage with the financial industry but lack the deep immersion we have achieved.

What major disruptions do you foresee happening in fintech in the near future?

In my view, the trajectory of technological disruption remains uncertain, and it appears to be an ongoing continuum. We have not reached the end point yet. However, what I find intriguing is the intersection between fintechs, which focus on addressing specific and customized challenges, and their collaboration with banks, who operate as generalists. This dynamic presents a fascinating landscape to explore.

What advice would you give budding female entrepreneurs trying to make it on their own?

As an entrepreneur, I believe there is a fallacy in thinking that you can achieve success solely on your own. It is the community around you that plays a crucial role, whether it consists of your early founder team, business partners, or supportive friends. None of us truly embark on this journey alone. I do not know what it would be like to be a male founder because I am not one, but I think the key lies in recognizing your own strengths, being resourceful, and acting with intentionality.