Working at Adyen: Platforms & Financial Services

Summary

Hugo, Technical Lead of Open Banking at Adyen, and Fitra, Product Manager in Banking Products, discuss how Adyen is revolutionizing the banking industry with Open Banking. They highlight how Adyen’s quick implementation of Open Banking APIs enables secure payments and access to bank data. Fitra introduces the concept of embedded, white-labeled bank accounts, empowering platforms to offer banking services to their users. Both leaders emphasize the speed, innovation, and collaborative culture at Adyen, encouraging those interested in fintech to join the growing, dynamic sector.

Takeaways

• 😀 Open Banking is a revolutionary concept that changes the traditional banking system.
• 😀 Adyen offers a wide range of financial services to merchants, allowing access to banking products traditionally offered by banks.
• 😀 Hugo, Technical Lead of Open Banking at Adyen, emphasizes the transformative potential of Open Banking for fintechs and businesses.
• 😀 Open Banking technology allows users to grant access to their data or start payments directly from their bank accounts.
• 😀 Fitra, Product Manager at Adyen, manages the embedded bank account offering, which is a white-labeled bank account tailored for platforms.
• 😀 Unlike traditional bank accounts, Adyen's embedded accounts are designed specifically for platform users, not general consumers.
• 😀 The Adyen team is driven by the challenge of creating innovative products quickly and efficiently, achieving results in months instead of years.
• 😀 Adyen's Open Banking APIs were developed in only six months, a stark contrast to the four-plus years it typically takes traditional banks.
• 😀 Adyen promotes a collaborative environment where team members work across roles, constantly seeking new solutions and thinking creatively.
• 😀 The fintech space is dynamic and growing, offering numerous opportunities for individuals interested in the sector.
• 😀 The people at Adyen are a major source of motivation for employees, as the company encourages disruptive, fast-paced innovation.

Q & A

What is Open Banking, and how does it relate to the banking products offered by Adyen?

Open Banking is a technology that enables third parties to access bank data or initiate payments directly from a bank account with user consent. At Adyen, it is part of their offering to merchants, providing them access to various banking services, like payments and data sharing, that traditional banks typically offer.

What is the main role of Hugo, the Technical Lead at Adyen?

Hugo is the Technical Lead for Open Banking at Adyen. His role involves overseeing the development and implementation of Open Banking solutions, which allows merchants and fintechs to access and utilize banking services in innovative ways.

How does Open Banking impact the traditional banking system?

Open Banking is revolutionizing the traditional banking system by introducing new ways to access and use bank data and payment services. It allows for more flexibility and innovation in how financial services are delivered, not only benefiting Adyen but also many fintechs.

What is Fitra's role at Adyen, and what product does she manage?

Fitra is the Product Manager in the Banking Products team at Adyen, and she is responsible for the embedded bank account offering. Her team focuses on providing white-labeled bank accounts to platforms, enabling them to offer their own bank accounts to users without relying on traditional banks.

How does the embedded bank account offering differ from traditional bank accounts?

The embedded bank accounts offered by Adyen are not traditional bank accounts from established banks. Instead, they are white-labeled accounts designed for platforms to provide users with bank accounts specifically for use within their ecosystem or service.

What makes Adyen's approach to Open Banking unique compared to traditional banks?

Adyen's approach to Open Banking is unique because they can implement and offer Open Banking APIs in a matter of months, whereas traditional banks typically take years to achieve the same level of integration and innovation.

Why does Fitra find working in a startup environment at Adyen exciting?

Fitra enjoys working in a startup environment at Adyen because it allows her to create revolutionary products from scratch and execute them quickly. The fast-paced, innovative atmosphere of the company is energizing and fosters creativity.

How does Adyen encourage a collaborative and problem-solving work culture?

Adyen fosters a collaborative work culture by encouraging employees to think beyond their specific roles. The company promotes a team-oriented approach where everyone is involved in solving problems, brainstorming solutions, and contributing to the overall success of the product.

What is the primary reason that motivates Hugo to work for Adyen?

Hugo is motivated to work at Adyen primarily because of the people. The dynamic and talented team at Adyen energizes him and makes the work environment inspiring and enjoyable.

What advice does the speaker give to those interested in working in fintech?

The speaker advises anyone interested in working in fintech to dive into the field. Fintech is a rapidly growing industry that is continuously evolving and introducing new ideas and solutions, making it an exciting and rewarding space to be part of.