Business Talk Magazine

We are living in a society driven by digital technology. While it has dramatically transformed our way of life, it has also radically changed the business landscape. It has brought new ways to interact, function, and build awareness. Amongst the other segments, financial solutions have witnessed tremendous growth through digital pathways. It has helped banks speed up their workflow and Fintech innovate on many grounds. However, there is always room for more. Financial institutions have benefited from digitization, but it has also created opportunities for more. FINAVATOR, a Canadian corporation, was inspired by the idea of uncovering these opportunities and assisting companies in their growth. The firm assists banks, Fintech, and corporations in embracing the changing world of finance through innovation.

AN OUT OF THE BOX FIRM

As previously stated, FINAVATOR works with a wide range of financial institutions, assisting them in growing their businesses. It helps traditional banks assess Fintechs and choose the best innovation partners to help them expand their client base. Conversely, it stands behind Fintechs, assisting them in developing innovative products, marketing strategies, and enterprise alliances in order to reach new client segments. Its extensive experience in FinTech Marketing, Open Banking, Payments & Prepaid Solutions, Challenger Banks, Micro Loans, Rewards, and Loyalty backs its expertise. FINAVATOR is a well-known strategy consultancy that specializes in bridging the gap between FinTech and traditional banks.

FINAVATOR, specializes in two particular areas: Open banking and payments. It partners with clients to develop innovative payment and digital services that help businesses stay competitive, provide customized solutions, and pursue additional revenue streams. FINAVATOR’s prime directive is to exceed its clients’ expectations in every engagement since it believes in treating clients with respect, which represents its values. What makes it reliable is its team, which strives to learn from tasks and challenges and deliver competent results. And results assure an unbreakable faith and integrity fostered by moral and ethical standards.

THE INNOVATOR IN CHIEF

Michelle Beyo leads FINAVATOR’s groundbreaking quest. She is a principled woman who follows the Golden Rule: treat people as you would like to be treated. Michelle is a financial enthusiast, a strategic advisor to several Fintechs. And it was her enthusiasm and passion for using payment technology that made her begin FINAVATOR. Within two years, her fervour outshined – as she positioned FINAVATOR in a unique position within the Canadian financial space. She has over two decades of extensive experience in driving innovation across the retail and payment industry. This enabled her to build a flexible culture and a nimble workforce dedicated to problem-solving in their own unique style. “Creative thinking is essential in the work that we do, and we have a flat company structure that really enables it,” avers Michelle.

She fosters an open-minded, collaborative environment in which team members are free to express themselves, pitch ideas, and make suggestions for improvements. She feels it is critical to trust and believe in employees and their skills. As such, she values self-effort, including failures, as part of the learning process. Michelle believes that the banking industry will continue to be a dominant force in the future; as a result, she is directing FINAVATOR in such a way that it readily adjusts to these changes when the time comes.

MAINTAINING A LEADING STATURE

As previously mentioned, FINAVATOR has a dominating presence in the Canadian Financial Space. And to nurture and maintain its position, it goes beyond observing trends to predicting new and emerging ones. The financial world is constantly churning forth new technologies that can help organizations work more efficiently in less time. Validating this, FINAVATOR stays aligned to the industrial landscape. Michelle and her teammates continuously update themselves through online channels, such as news or podcasts, peers, clients, events, and conferences. The founder also has an extensive network where she interacts with other experts to share and discuss ideas. “For instance, as a Board Member at OBIC, I have joined a group of like-minded individuals who share a deep bench of industry expertise. They really help me build my knowledge both in-depth and in breadth, with an eye out for constant updates in other markets and jurisdictions in the world,” she adjoins.

Ultimately, it’s a learning process, which FINAVATOR nurtures at the heart of its operations. The Company also performs deep R&D to stay updated and empower learning. Michelle strongly believes R&D helps companies become more resilient, effective, and not afraid to fail. It helps a company analyze its winning streak and areas that can be improved with a better approach. By constantly testing and tweaking, a company becomes more agile and innovative.

NOT RIDDLED BY COVID-19

The pandemic put every company, regardless of size or shape, on trial by fire. It also sped up technological adoption which dramatically strengthened customer behaviours. Hence, companies are implementing smart methods to stay connected with stakeholders and creating solutions befitting to the digital shift. FINAVATOR, being agile and adaptive, has been fortunate to not be negatively affected by the chaos. Rather, it helped companies, from FinTech to incumbent financial institutions, to embrace the new normal. The period certainly ushered in a lot of disruption for companies almost overnight. As for Michelle, working from home has taught her the importance of connecting, work-life balance, and having a dedicated team to lean on. It was a completely new opportunity for them to revamp their business model, build and launch innovative products to create a future-ready business.

While expressing gratitude for herself and her team’s efforts, Michelle also discusses the dismal situation in her country because of the pandemic and how she plans to alter it. According to her, Canada is drastically falling behind in open banking. “First to market players, such as the UK, leveraged their open banking framework to support small businesses and consumers and jump-start their recovery from the pandemic,” states Michelle. Canadian small businesses, however, are still perplexed, and citizens are trying to access unemployment insurance. Open banking, according to the founder, can help the country and businesses move forward. While the Advisory Committee’s Final Report shows that there are still many reforms to be made in the Canadian financial sector, Michelle hopes to use her position in OBIC to continue advocating for open banking, all while assisting banks and FinTech in adopting the new normal.

SEVERAL FEATHERS IN THE CAP

Over two years, FINAVATOR has showcased outstanding progress in all business areas. Both Michelle and her brainchild have been widely honoured for creating meaningful experiences and advocating open banking and gender diversity in Canada. The Company recently earned the title of “Top 30 Best CEOs of 2021” from The Silicon Valley Review Magazine and “Most Influential Leader in FinTech Consulting – Canada in 2020”. The prestigious Corporate Vision Magazine also awarded it “Most Influential Leader in FinTech Consulting in 2020”.

CONCLUSION

FINAVATOR’s unyielding progress is a fine example of perseverance. Building a company without funding wasn’t a simple task. But then, it had the privilege to work with incredible clients like Big Canadian, American bank, and a dozen of other Fintechs. It aims to continue helping Fintechs and incumbents, and achieve bigger milestones.

EMPOWERING THOUGHTS OF THE INNOVATOR

“You can truly achieve anything if you put your mind to it – not from a position of fear but rather of optimism, excitement and wanting success for yourself.”

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