S1E2 - How FinTech was Built on Products and Passion - Einar Gustafsson

Tales from the #FinTech Crypt

In this conversation, Duena Blomstrom and Einar Gustafsson discuss their very early experiences in the fintech industry and the challenges they faced. They reflect on their time working together and the innovative solutions they developed. They also explore the mindset and culture in Iceland that fosters innovation and resourcefulness. The conversation highlights the importance of building products with a focus on user experience and the struggles of implementing innovation within large organizations. Overall, it provides insights into the early days of fintech and the lessons learned along the way.

----------------------

• The early days of fintech were characterized by a product-led approach, with companies building innovative solutions and driving the discourse in the industry.
• Implementing innovation within large organizations can be challenging due to bureaucratic processes and resistance to change.
• The Icelandic mindset of resourcefulness and a willingness to take risks has contributed to the country's success in fintech.
• Modesty and humility are common traits among Icelandic entrepreneurs, which can sometimes hinder self-promotion and recognition of their achievements.
• Building products with a focus on user experience is crucial for success in the fintech industry.

----------------------

Sound Bites

• "We became a rock star overnight"
• "The biggest benefit that we have is that we are a small country"
• "If you have your mind in the right place and you really want to build technology that goes to humans with other humans in teams that are empowered, then you're going to get that"

Chapters

00:00
Introduction and Early Beginnings

02:53
The Idea of Emotional Banking

06:03
Juggling Work and Parenthood

09:47
Einar's Journey in Fintech

18:00
The Launch of a New Product and the Finnovate Experience

22:54
The Innovation Landscape in Fintech

27:13
Challenges in Implementing Innovation

32:12
The Icelandic Mindset and Culture

34:50
Modesty and Humility in Icelandic Entrepreneurs

36:08
The Importance of User Experience in Fintech