Swisspreneur Show
EP #432 - Francisco Fernandez: The Universal Banking Platform
Aug 28, 2024
Francisco Fernandez, founder and former CEO of Avaloq, shares his journey transforming banking through innovative tech. He discusses the concept of a universal banking platform and the importance of leadership as a learned skill. Francisco reflects on his passion for building and the stark contrast between the instant gratification of coding versus the slow burn of entrepreneurship. He also explores employee stakeholding and how empowering team members can create shared success. Get ready for insights into navigating change and strategic choices in the entrepreneurial landscape!
50:26
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Quick takeaways
- Francisco Fernandez emphasizes that effective leadership is a distinct skill set requiring training, essential for company growth and employee motivation.
- The success of Avaloq relied on creating innovative banking products rather than on heavy acquisitions, highlighting the importance of organic growth strategies.
Deep dives
The Journey of Avalloc
The story of Avalloc began with its roots in the BCI bank, where the founder initially joined as a computer science graduate. The company's journey was marked by a management buyout that allowed a small group of employees to take ownership and drive the company towards innovation in digital banking systems. This transition was fueled by the founders' ambition to modernize banking processes, which was a key driver behind the establishment of Avalloc's platform. The entrepreneurial spirit fostered within the team played a fundamental role in their ability to innovate and scale in a highly competitive industry.
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