OCTOBER 202319In an interview, Joyce Saika, VP finance, IR and legal at Nuclea discusses his observations on the challenges presently facing the fintech industry.As the CFO, finance director, controller at Nuclea, what according to you are some of the key challenges in the fintech industry and what steps can be taken to address them?As Nuclea's CFO, and responsible for the legal department I believe the main challenges to the financial technology industry are:First, a customer centric approach: the only way to build sustainable, long term financial result is through developing solutions tailored to customers needs and providing excellent customer service to build trust and loyalty. In a highly competitive environment as the finance industry, Loyalty isn´t the only factor determining growth but, for sure, profitable organic growth cannot be sustained without it.Although Nuclea does not depend on securing funding for company survival and growth, our main challenge today is optimizing capital allocation to support innovation and expansion. Rapid growth and scalable operations and infrastructure to meet increasing demands can be challenging; new technologies, which are constantly evolving, can disrupt existing business models. So, to promote a culture of innovation within the company and to keep abreast of emerging technologies to adapt and stay competitive is crucial.Finally, keeping up with changing regulations as we operate in a highly regulated environment, requires a collaborative relationship with regulatory bodies to gain insights, monitor changes to stay up to date with relevant regulations and ensure compliance efforts. What in your opinion are some effective IT initiatives or projects that are aimed at increasing the efficiency of the financial planning and budgeting operations?Our priorities are in IT initiatives and projects that can significantly enhance the financial management process, streamline operations, and enhance the efficiency of the overall financial planning and budgeting operations such as the automation of the budgeting process to reduce manual errors and improve data accuracy so finance teams can focus on more strategic aspects.The use of data analytics and AI can be very helpful in improving the forecasting accuracy and help financial teams to anticipate financial outcomes and their potential impacts on financial performance. Last, but not less important, are the IT initiatives to improve collaboration and communication, among various An Interview With Joyce Saika, VP Finance, IR and Legal, NucleaEVOLVING TRENDS IN THE FINTECH INDUSTRYJoyce SaikaCXO INSIGHTS
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