In today’s episode, Tarun Bhasin, CEO of Kunai, gets together with Nan Siler, Head of Payment Operations at Finix. Nan reflects on her initial experience with Finix as a customer and why she was so impressed with their services. Gain special insight into how Finix is structured and how they deliver exceptional payment operations. Next, we take a deeper look at payment operations and why it’s such a challenging part of the payment system to execute seamlessly and effectively. Nan draws on her immense knowledge to explain the technical complexities inherent to payment operations. We also discuss the technological advancements in the field of payments over the past twenty years and how small businesses have gained access to affordable services that were previously limited to large companies.

Key Points From This Episode:

Get to know today’s guest, Nan Siler, and how she came to be Head of Payment Operations at Finix.
How Nan first encountered Finix as a customer.
An overview of Finix’s service and operations and why it's a great option for customers.
A deeper look at payment operations and why it’s such a challenging part of the payment system to execute seamlessly and effectively.
Why it’s necessary to have a payments operations team to optimize your payment system.
The role of a payments facilitator in your payments system.
Daily transaction-level reconciliations and why it’s an important part of payment operations.
How payment operations teams are hampered by a lack of access to data and being bound to antiquated processes.
Some of the advancements in payments technology that Nan has noticed from working in the industry for over two decades.
How small businesses have gained access to payments technology that was previously unavailable to them.
What large companies can learn from leaner startups.
How Finix positions itself in an increasingly competitive market.
The four primary approaches to payment management and how they differ.
Why it’s ideal to do as little migrating as possible.
Why platforms are the future for small businesses.
Nan’s views on Buy Now, Pay Later and why she defines it as generational.

Tweetables:

“I believe that large companies can definitely learn from leaner startups. However, I'm just not sure they can execute at the speed required to keep up.” — Nan Siler [00:12:47]

“Finix’s mission is to create the most accessible financial services ecosystem in history starting with payments.” — Nan Siler [00:13:39]

“The good news is at Finix, we're lowering the barrier to entry to most of those controlled payment experiences.” — Nan Siler [0:17:56]

“Platforms are the future for small businesses. They enable the small business to have that back-office experience of a large ERP system without all the pain and expense associated with those implementations.” — Nan Siler [0:20:46]

Links Mentioned in Today’s Episode:

Nan Siler on LinkedIn