“When you work for a Fintech startup company, you belong to a family and work with very qualified people who share the same goal. You need to be very autonomous and creative, nobody will tell you exactly what to do but everyone expects you to give your best and to constantly provide new ideas.” says Hugo Lozery, COO of GLOBCOIN.
What will be the outlook of Fintech industry in 2017?
Fintech has only become stronger in 2016 when, for the first time, card payments have overtaken the cash payments. Fintech now covers every kind of financial need and will continue to grow in 2017 with the emergence of payments and remittances. The payment industry will be in a transformational state in 2017 with the emergence of the blockchain and real time payments. Cross-border payment has also become a critical part of millions lives and new digital and mobile-based solutions using virtual currencies are being tried out by providers.
Finally, PSD2 (Second Payment Services Directive) will offer a new regulatory scope in Europe from 2018. All actors in the payment industry are preparing to this new challenging regulation that should benefit to the end-customer.
How Fintech will change the banking industry? Do you think Fintech is a disruptor or collaborator for banks?
Fintech dreams of disrupting the entire banking industry but we need to keep in mind that retail banks still hold a huge advantage. They have tens of millions of trusting customers, capital and master compliance issues. Successful Fintech companies may have only hundreds of thousands customers but they are strong enough to change the banking landscape and to offer, with the help of the technology, new products that better fit customers’ needs. I strongly believe in a collaboration between Fintech companies and banks for the years to come. Such a collaboration would definitely serve their mutual needs.
How do you position GLOBCOIN among all the players in the market?
GLOBCOIN aims at reinventing global access to currencies. For the first time, individuals can exchange their currencies at no cost and spend money abroad simply as if they were at home. I believe we offer the most cost effective and convenient solution to spend money abroad.
Personally, I use my card on a daily basis and I love it! It’s so convenient, I can check my last transactions and balance instantly, send money to my friends, block my card if I’ve lost it and not to mention that I have already saved at more than 200€.
What motivates you to go to work every morning?
I was there at the very beginning of this project. When I look back, I realize how much we have accomplished in 18 months and this is very rewarding. I am very confident in the company and we have so many great projects coming that motivates me to go to work every morning. We are constantly improving our product in order to better serve our clients: their satisfaction is my priority.
What is the corporate culture difference between working in a traditional Finance Company and working in a Fintech Company?
Well, I worked in investment banking before joining GLOBCOIN and I can feel the culture is very different. When you work for a Fintech startup company, you belong to a family and work with very qualified people who share the same goal. You need to be very autonomous and creative, nobody will tell you exactly what to do but everyone expects you to give your best and to constantly provide new ideas. Working for a Fintech is an exciting adventure, you learn to grow with the company, but like every adventure it is also very challenging.
How would you normally spend your Friday nights?
For me the best night to go out has always been on Thursdays. On Friday, I enjoy dining with friends and playing music. I belong to a small band and we have lot of fun playing music all together on Friday nights.