Written by Sashreka Pillay
Nope. It’s not our four letter peak-traffic companion. (Although in some circles it does seem like as much of a swear word.)
To get there, let’s try something different. Imagine I’m standing in front of a white board signalling “one word, seven letters”. Then, in your mind’s eye see me enact the funniest moment of slapstick comedy you could ever think of; reminding you of your guiltiest pleasure YouTube “fail”video. You then scream out in triumph: “The word is Failure”!
Yes, that exercise was touch and go for me too. No, I haven’t been invited to many games of charades but now you know what I’m talking about. So it still worked. Yay.
Why even talk about failure in fintech? Because the industry is growing up. Use-cases are being tested and so is a firms’ stamina. We may be too polite to admit it but in most fintech spheres competition is growing. And as with any industry on its way to maturity, it can mean more than a few casualties.