Fintechs need innovation, new ideas, and maximum recurring revenue growth on dollars invested. They, therefore, attract entrepreneurs, free thinkers, and ideas people. Their vision needs to be on outcomes and success. These are key to a fintech’s success. But there is one thing missing – risk management.
‘No’, I hear you say, ‘but risk management slows us down. Risk managers are the fun police, the business prevention unit, the stoppers!’ If that’s your view, read on, because I love risk and I love risk management and yet I like to think I am none of the above.
A number of years back, I took up the sport of hang gliding. Why? Because I love the reward of taking a physical risk – adrenalin, and not to mention the serenity of floating around at 10,000 feet. Hang gliding is an inherently very risky sport: the reward is great, but the inherent risk is very…