Our Co-Founder and CTO, Daniela Binatti, recently featured in Nordic Fintech Magazine (NFM), a leading business news outlet based in Copenhagen, Denmark.
During a video interview with journalist Chris Crespo, Daniela discussed what makes Pismo different from competitors and how she and the other Pismo co-founders created a solution to transform the banking and payments industry.
All-in-one cloud-native platform
The main feature that makes Pismo different from other competitors is how we built our platform. With an all-in-one, cloud-native platform, we can deliver payments and banking solutions in the same environment.
“Our clients don’t have to manage different solutions because everything is at the same platform,” says Daniela. “We deliver infrastructure for players. It does not matter if they are huge banks or fintechs looking for solutions to build their products”, she explains.
Beyond the status quo
Crespo asked Daniela how to bring a service that goes against the traditional banking culture and from where does the courage to do such a disruption came.
She and the other co-founders had more than 20 years of experience in the financial services industry when they started Pismo. They had already created another payments processing platform using an older technology. Daniela adds they were confident in building the new company because they knew they were doing something better this time around.
“We spent years seeing how hard it was for companies to transform their systems and how the industry was still relying on platforms developed 50 years before. It’s not only about differentiation in technology. We built it to help those incumbents transition from the old world to the new one”, she says.
Simplicity and innovation mindset
When talking about delivering technology to help financial institutions and other players deal with payments and banking, Daniela says all those innovations came along with simplicity.
“We simplified many of the legacy artefacts that were there only because of lack of technology. We reimagined the ways banking and payments can operate.”
Another thing that changed traditional clients’ mindset is that the Pismo platform empowers technology teams to build the best experience for their end-users.
“In the past, we used to sell the solution to business people. Now we sell it to CIOs and CTOs because they are in control of the experience that they are providing to their customers”, says Daniela.
Taking the whole world
The business model Pismo adopted and the technology we deliver have made the company expand globally, with 40 million accounts worldwide. The key to this success, according to Daniela, is the relationship with the clients.
“We spent time establishing and making a really solid relationship with those clients. So we could work close to them, helping the transition from the legacy systems to the new ones. After our last fundraising, we are accelerating hard to take the whole world”, she concludes.
When asked for her advice to other fintech founders, Daniela summed it up in one word – “resilience is the most important characteristic of entrepreneurship.” Daniela had the word ‘resilience’ tattooed on her arm as a reminder to keep going when times are tough!
Here is the complete interview: