Importance of fostering a passionate culture and embracing the Nordic concept friluftsliv in sustaining remarkable growth.
Corporate culture serves as a crucial driver of innovation, promoting openness to new concepts and risk-taking, which are imperative to outpace competitors, particularly in the fintech sector. A strong and unified culture also enhances employee involvement and loyalty, directly impacting productivity and customer satisfaction. Additionally, it acts as a distinguishing factor, attracting top-tier talent that not only possesses the necessary skills but also shares the company’s values and vision. Thomas Jul, CEO of Inpay, discusses the significance of corporate culture with Fintech Review.
Insight into Inpay: Can you provide a brief overview?
Inpay is committed to democratizing global money transfers, making international fund transfers more convenient and rapid. Through our innovative approach and software technology, we are modernizing the cross-border payments sector, which is currently dominated by traditional, slow, and costly bank transfers, accounting for 97% of transactions. Notably, we have achieved extraordinary success in recent years, with our revenues soaring by nearly £35 million since 2018.
Could you share your background and the inception of Inpay?
I have been privileged to hold leadership roles at European PayTech, Nets, Ericsson, and Nokia, spanning various countries worldwide. Inpay, established 16 years ago, has been dedicated to enhancing access to fair, secure, and compliant financial services globally. In 2021, Inpay was acknowledged by the Financial Times as the fastest growing company in Denmark and the sixth fastest growing fintech company in Europe. This growth has provided valuable learnings, reinforcing our commitment to preserving the ‘start-up’ culture and prioritizing our people.
Emerging Trends in International Payments?
We have recently obtained an Electronic Money Institution (EMI) license from the Danish Financial Supervisory Authority (FSA), becoming the first Scandinavian fintech to combine EMI, PSP, and TPP. This milestone will empower us to issue electronic money, facilitate digital payments and money disbursements, and offer various other payment services.
Significance of Corporate Culture at Inpay
Our people and corporate culture lie at the core of our triumph. Despite our expansive growth and global presence, I have remained keen on preserving the same levels of creativity and innovation that marked our initial journey. Our non-hierarchical structure, typical of Scandinavia, and our fervent culture, characterized by professionals driven to make an impact, have played a pivotal role in our success. Additionally, we have been able to consistently fuel our growth with a robust and exceptional international talent pipeline.
I also advocate for the Nordic concept of friluftsliv, promoting outdoor activities, including team-building trips and annual Danish Island company events, which have contributed to heightened employee productivity and engagement, fostering our ongoing growth.
Evolution of the Company in Recent Years
2022 represented a year of significant transformation for Inpay. We executed an organizational restructure and made substantial investments in our senior leadership team, organizational structure, and technology. I am pleased to have welcomed Jens Heurlin as Group General Counsel and Camila Witt as Chief Risk & Compliance Officer, further sharpening our focus on compliance, customer service, and product development.
Plans for the Future and Product Roadmap
I am keen on driving sustainable growth and upholding our robust corporate culture, even as our team has expanded to 200 individuals, representing over 40 nationalities across 100 countries. Currently, we have offices in Copenhagen (our headquarters), London, comprising 10% of the company, and have recently established our newest office in Dubai. Our aspirations include further expansion into Asia and other parts of Europe, so stay tuned for more!
