Liz Lumley, Freelancer, Compliance Corylated
Career & Background
- Let’s start with your career journey. What were the key moments or turning points that led you to where you are today?
- I’ve written about this before, but I answered an ad in the New York Times in 1994 to be a reporter for newsletters covering data and technology in investment banking for a salary that I *just* could survive on. We called it “fintech” in the office, and that was 31 years ago. I have been in fintech for decades.
- I almost got fired my first year because I just wasn’t feeling it. I decided to go for an interview with the CIO of Goldman Sachs, got it, worked my ass off on it and kept my job. Never looked back.
- How has the industry evolved since then?
- An early article I wrote about a very large global bank was about how they were developing their own proprietary in house operating systems for “security”. Many people like to bash banks, but they have come a long way.
- Looking back, is there a piece of advice you wish you’d received earlier in your career?
- When someone *gifts* you a bitcoin – hold on to it and remember where it is stored. #FindLizsBitcoin
Industry Insights
- What are the biggest trends you’re seeing in Fintech right now?
- Everyone is an AI company now. 😐
- What do you see as the biggest opportunities and challenges in the market and in your role specifically? How do you see regulation and compliance shaping the future of Fintech?
- I combined these two because, my advice to anyone looking for a problem to solve, build a fintech company around that, and sell into financial services firms is to tackle regulations and compliance. Anyone who makes dealing with global regulations easier, will get a meeting. Solve *that* problem. Stop embedding payments into everything.
- What are three things Fintech companies should be prioritising today?
- If your priority is your exit, sit next to someone else. If your priority is to build a sustainable company that employs people, makes banking better and lasts for decades, then I will listen all day.
- What’s one thing you see companies doing from a PR or marketing stance that you wish they’d stop?
- When you see a story posted by a journalist, and you then pitch your client who could comment on the topic covered in the story, that has already been published. I’m not writing the story again, anytime soon.
- Also, deadlines are real. No seriously, they are real.
Quickfire Round
- Fintech company to watch?
- Watch the industry, not companies. Stop wishing for a unicorn – they are mythical creatures that do not exist. Start watching for how to make the industry better for everyone.
- Most overused Fintech buzzword?
- Game changer
- Favourite news source?
- I listen to BBC radio 4 all day and read The New York Times every week, The Economist when I am in an airport and I try to read Paul Krugman’s and Heather Cox Richardson’s Substack as much as possible they post every day!
- Favourite TV show?
- Buffy the Vampire Slayer
- Favourite drink?
- Non-alcoholic – Low sugar cranberry juice with a lot of ice and lime spritz. But I am usually found with a glass of rioja in my hand (on weekends) and a dirty martini when out about the town.