I’m thrilled to sit down with Kofi Ndaikate, a renowned expert in the fast-paced world of Fintech. With deep knowledge spanning blockchain, cryptocurrency, regulation, and policy, Kofi brings a unique perspective on how financial technology is reshaping the corporate landscape. In this interview, we dive into the evolving role of CFOs as strategic partners, the importance of connectivity in driving business growth, and the critical intersection of finance and technology in supporting long-term goals. Join us as we explore how finance leaders are becoming key drivers of innovation and expansion in companies like Finzly.
How has the role of a CFO evolved in recent years, especially in tech-driven companies like those in the Fintech space?
The CFO role has undergone a dramatic transformation, particularly in Fintech, where the pace of change is relentless. No longer just the gatekeeper of numbers, CFOs are now strategic partners, deeply embedded in decision-making processes. They’re expected to understand technology trends, like blockchain or instant payment systems, and align financial strategies with innovation. It’s about forecasting not just revenue, but also market shifts and customer needs, ensuring the company stays ahead of the curve while maintaining fiscal health.
What does it mean for a CFO to act as a driving partner to the business, rather than a traditional back-office function?
Being a driving partner means the CFO is at the table for every major strategic discussion, not just crunching numbers after the fact. It’s about proactively identifying opportunities for growth or efficiency through financial insights. For instance, in a Fintech firm, a CFO might push for investments in scalable payment infrastructure by demonstrating long-term cost savings and customer retention benefits. It’s a shift from reporting to influencing—ensuring every department sees finance as an enabler, not a roadblock.
In your view, how can a CFO build a culture of connectivity across a company, especially between finance and other teams?
Connectivity starts with transparency and communication. A CFO can foster this by ensuring financial data isn’t siloed but shared in a way that’s meaningful to other teams, like sales or product development. Regular cross-departmental meetings where finance explains key metrics and their impact on daily operations can break down barriers. It’s also about creating tools or dashboards that give real-time insights, so everyone feels aligned on the company’s goals. The challenge is cultural—getting teams to see finance as a collaborator, not a critic.
When assessing a Fintech company for future growth, what key factors do you think a CFO should focus on in terms of people, technology, and processes?
For people, it’s about having a team that’s adaptable and tech-savvy, since Fintech evolves so quickly. Technology-wise, a CFO needs to evaluate if the current infrastructure can scale—think payment rails or compliance systems—and if it integrates with emerging standards like ISO 20022. Processes are equally critical; they must be streamlined yet flexible to handle growth without introducing risk. It’s a balancing act of investing in the right talent and tools while ensuring operations don’t outpace capability.
How can a CFO ensure alignment between a company’s current position and its long-term strategic vision?
Alignment comes from a clear understanding of where the company stands today—financially, operationally, and competitively—and mapping that against where it wants to be. A CFO plays a pivotal role by translating strategic goals into measurable financial targets, like revenue growth or market share, and identifying gaps. They also need to prioritize resources, whether it’s funding for new tech or hiring for key roles, to bridge those gaps while minimizing execution risks. It’s about constant recalibration based on data and market feedback.
What unique challenges do CFOs face in the Fintech sector when balancing short-term execution with long-term goals?
Fintech CFOs often grapple with the tension between rapid innovation and regulatory compliance. Short-term, they must ensure flawless execution—say, rolling out a new payment feature—while managing cash flow and investor expectations. Long-term, they’re planning for scalability and market disruptions, like shifts in policy or new competitors. The challenge is allocating resources without overextending, all while staying compliant with evolving rules. It requires a sharp focus on both immediate wins and sustainable growth.
How do you see advancements like the adoption of standards such as ISO 20022 impacting the strategic priorities of Fintech companies?
Standards like ISO 20022 are game-changers for Fintechs, especially in payments. They enable richer data exchange, which improves transparency and efficiency for banks and clients. Strategically, adopting such standards positions a company as a trusted partner to financial institutions, enhancing market credibility. It also opens doors to global expansion since it’s an international protocol. However, it requires upfront investment in tech and training, so CFOs must weigh those costs against the long-term benefits of stronger client relationships and operational edge.
What role does a CFO play in supporting a Fintech company’s ambition to become a critical platform for banks or other financial institutions?
A CFO is instrumental in turning that ambition into reality by ensuring the company has the financial runway to invest in robust infrastructure and client-focused solutions. This means securing funding, whether through venture capital or revenue reinvestment, and managing budgets to prioritize R&D for platform reliability. They also need to provide insights on profitability per client or product, helping refine the value proposition. Ultimately, it’s about proving to stakeholders that the company can deliver both innovation and stability at scale.
What advice do you have for aspiring CFOs or finance leaders looking to make a strategic impact in the Fintech industry?
My advice is to immerse yourself in the technology and trends shaping Fintech—don’t just focus on the balance sheet. Understand blockchain, payment systems, and regulatory landscapes because these directly impact strategy. Build strong relationships across the organization; your ability to influence depends on trust. Lastly, embrace data analytics. Being able to deliver actionable insights quickly will set you apart. It’s a challenging space, but incredibly rewarding if you’re willing to step beyond traditional finance roles and drive real change.
