How to build a fintech: Why BM Technologies’ Luvleen Sidhu pivoted to B2B2C and notes on partnerships and female leadership
- BM Technologies' Luvleen Sidhu takes us through why her firm went from a purely B2C strategy to a B2B2C one and what impact it had on profitability.
- Sidhu offers insight into what it takes to run a successful partnership, how the WFH and hybrid structures impact the workforce, and what responsibilities does the role of CEO entail.
Conversations with entrepreneurs often leave me with a lingering admiration. Where I store fear and doubt, entrepreneurs hold courage, they just order the world differently.
It’s a learned skill but one that takes much grit. It’s the willingness to get back on your feet and try again that makes all the difference. One good example of entrepreneurial leadership is BM Technologies’ CEO and founder, Luvleen Sidhu.
The industry’s acceptance of female leadership and even more so that of non-white female leadership is expanding every year. But Sidhu built her company in 2015 and at that time, BM Technologies was proposing to do something that was novel: offer digital-first banking products outside of the traditional banking environment.
Her story offers insight into how to build a fintech, how to manage partnerships and, all these years later now that BM Technologies is a public company, how to run a fintech.
There is always a problem
Sidhu’s objective for BM Technologies was clear from the outset, and it was this clarity that helped her solve issues and build partnerships that were mutually beneficial. “We wanted to be able to create a more affordable, transparent banking experience, and we wanted to respond to consumers’ needs,” she said.
But the real task was translating this mission statement into a good looking bottom line. This was Sidhu’s first challenge and one that took some time to solve.
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