Fintech for Founders - Webinar by The Soltesz Institute

In this webinar hosted by Viktoria Soltesz, Founder of The Soltesz Institute, we explored how FinTech innovation influences decision-making, strategy, and product design for early-stage companies.

Viktoria was joined by Elliott Locke, founder of abroaden and co-creator of Barcelona’s largest FinTech network, BCN FinTech. Elliott shared his valuable insights, which he gained when working with hundreds of startup teams across Europe.

The webinar looked at how founders can spot growth opportunities within their own customer flows, when to rely on external partners, and how to avoid costly mistakes when choosing financial providers.

Why Every Startup Is Already a FinTech User

Whether a company wants to build a financial product or simply accept payments, most are using FinTech tools by default. Elliott pointed out that startups don’t need to be a financial company to be affected by financial infrastructure. If you’re a platform handling payments, managing customer balances, or dealing with buyer-seller settlements, you’re operating inside the financial system, even if your product has nothing to do with banking.

Ignoring this reality often leads to operational inefficiencies, delays in launch, or even regulatory risks. Understanding this early helps founders create better user experiences and reduce hidden costs.

Embedded Finance: From Cost Centre to Revenue Line

Embedded finance was one of the key themes. Many startups think of payments as a cost, but Elliott explained how it can be turned into a revenue driver. For example, marketplaces can integrate financial partners to issue cards, set up digital wallets, or offer financing products. These services can generate margin, improve customer loyalty, and provide data that feeds into product improvement.

Elliott also shared ideas about the technical and legal side: startups don’t need to apply for their own financial licence to offer embedded finance. They can work under a partner’s regulated setup, saving months or even years of legal costs and compliance burdens. This makes it possible to launch quickly and adapt the product over time as the business grows.

Picking the Right Partner: What Most Startups Get Wrong

One of the common mistakes discussed was the tendency to listen to the loudest sales pitch instead of doing proper due diligence. Elliott recommended a simple rule: always check if the FinTech provider clearly states their licensing information, verify it with the regulator, and involve both product and IT teams in the evaluation process. A beautiful website means nothing if the tech doesn’t do what it claims.

Viktoria and Elliott also discussed how businesses need to protect themselves from single points of failure. If you rely on one payment partner and that partner fails, your entire operation could be at risk. Having a secondary provider on standby and building flexible systems through APIs can protect against downtime or licence suspensions.

Startup Mistakes: Thinking Too Big Too Soon

Many founders think they need to become a licensed financial institution just to manage funds on their platform. Elliott shared the example of Revolut, who started off by offering prepaid cards through a third-party provider and only applied for their own licence years later, once the business model was validated. Jumping into regulation too early can drain time, money, and energy: resources that startups can’t afford to waste.

Instead, using regulated providers to build under their licence helps companies stay lean while maintaining legal safety. This is how most modern FinTech products are built today.

What You Can’t Afford to Get Wrong

Both startups and scaleups are vulnerable when they don’t understand what their financial setup actually does. Many treasurers still use 20-year-old bank accounts for international operations, relying on phone calls and outdated processes for currency conversion, reconciliation, and payment flows. This can cost thousands in missed savings or unplanned fees.

FinTech tools today offer automated FX, real-time treasury dashboards, and pre-integrated APIs for everything from KYC to cashflow forecasting. These are not just “nice-to-haves” but basic tools for building a scalable operation. The risk is not just financial. A bad financial setup affects product timelines, user experience, and long-term investor confidence.

KPIs That Matter

When you integrate a FinTech partner, the first metric to track is whether your internal team is still firefighting or finally able to focus on strategy. You can also track cost savings from automation, reductions in failed transactions, or new revenue from commissions and embedded products. But sometimes the best indicator is cultural—whether your team stops resisting change and starts asking, “What else can we improve?”

FinTech Future

Elliott highlighted that even in 2025, many decision-makers still don’t realise that payments and banking affect every layer of a company. From compliance and product to customer service and UX, ignoring these elements can silently limit growth.

That’s why education is more important than ever.

At The Soltesz Institute, we offer CPD-accredited training to help finance professionals, founders, and product owners understand what questions to ask, which risks to avoid, and how to build smarter financial systems.

Because setting things up correctly the first time is not just cheaper, it’s safer - and far more scalable in the long run.

Watch the full webinar and access CPD-accredited training at https://solteszinstitute.com/course/fintech-for-founders