Usain Bolt is the faster sprinter in human history. He has just fulfilled his own prophecy and became a “legend”, by winning the triple-triple in the Rio de Janeiro Olympics. His achievement is astonishing, and also very inspiring. He changed the perception of people about athletics, and made them interesting again. Based on his values and behaviours, what can Fintech companies learn in order to transform the financial services industry?
Be ethical
Usain went into an athletics world where doping was widespread, and he demolished every sprinting record staying clean. In a similar way, the financial services industry has recently experienced loads of scams and fraudulent dealings. Integrity is required for any firm that intends to succeed and gain the confidence of customers.
Be fast
Usain has reached a maximum speed of 27.7 mph, faster than any other human, almost as fast as a grey fox! Fintechs need to prioritise speed to market as many of the ideas explored, in a similar way to Airbnb or Facebook, can only support a single leader
Persevere
Usain experienced a series of injuries and setbacks that might have discouraged anyone. He learned out of this experience how to choose best distances in which to focus and how to have discipline. He had discipline to train in order to achieve his amazing prowesses. Fintechs need to be flexible and adapt their business model to find a concept that works for both customers and for investors. Most probably the initial idea that achieved funding will need tailoring.
Make it Fun
Usain has achieved his best by staying light headed and enjoying what he does. This short video exemplifies it. The financial services industry needs a break, and companies that bring in a human and playful side will prevail. Make it fun, make it sociable easy to understand.
Be professional
Usain is playful before and after the races, but during them he is fully focused and give his all in order to ensure he finished first. Fintechs are managing people’s money, and this is serious business. Individuals need to trust these companies. Having a flawless track record and an professional operation is essential.
Cooperate
Usain has followed closely a training plan from his coach Glen Mills. He has also been able to work well with his team mates in the relay race, ensuring that conflicting egos didn’t take over. New firms in the Fintech space need to be open to alliances with other startups as well as the big players such as Mastercard, Paypal and incumbent banks.
To sum it up
Usain Bolt is at the end of his athletics career, one of the most influential personalities of the century so far. He can inspire leaders in the fintech industry to be ethical, fast, professional, persevering, and fun at the same time.