Fintech has transitioned from a disruptive force to an established player
In the dynamic world of finance and technology, Viktor Butsch, co-founder of Payever, envisions a future where payment processes are deeply integrated into a broader digital ecosystem. Butsch believes that Fintech today transcends standalone payment solutions, focusing instead on creating smart, seamless, and secure payment experiences that align with the digital lives of consumers and businesses.
Butsch, who accidentally entered the payment and banking sector, sees Fintech as an innovation driver in the financial industry. He emphasises the need for adaptable solutions that cater to evolving customer needs and regulatory environments, such as Open Finance. Despite the challenges posed by regulatory frameworks like the EU's FiDA, Butsch views these as underscoring the importance and inevitability of open, integrated financial services that reduce bureaucracy and foster innovation in Europe.
Payever, which operates at the intersection of IT, Payment, Finance, and other topics, aims to seamlessly and uncomplicatedly integrate financial services into the commerce sector. Butsch's ultimate goal is to make financial services smarter in retail.
The evolution of Fintech has significantly disrupted the payment and banking industry, with companies like Revolut, N26, Nubank, Stripe, and Adyen taking market shares from many established players. In the future, this change is expected to continue, with platforms like Apple Wallet predicted to take on more functions, including IDs, driver's licenses, hotel access, and car rental keys.
Butsch, who listens to podcasts about Tech, Business, and Politics in his free time, offers some advice for navigating this rapidly changing landscape. He suggests keeping calm, listening, and making quick, rational decisions as key qualities. If he were the Minister of Finance, he would expand programs like EXIST and invest more in education and digital infrastructure.
In his personal finance life, Butsch's top three apps are his banking app, PayPal, and Trade Republic. Payever's customers and partners are often larger, international companies, a testament to the company's growth from a small provider to an established partner of major brands, thanks to the vision and leadership of Butsch and his co-founder Artur Schlaht.
As we move forward in this digital age, Butsch's perspective on Fintech's future stresses the importance of embedding payment and financial processes within wider, digitally connected ecosystems—where technology supports seamless, secure transactions and integrates with various business operations to anticipate and create the customer experiences of tomorrow.
Butsch, with a background in technology and finance, aspires for Payever to be a start-up that provides adaptable solutions for businesses, aligning financial services with the digital era. Recognizing the growth potential in the Fintech sector, he encourages quick, rational decisions to navigate the ever-evolving business landscape, investing in education and digital infrastructure to foster innovation.
