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Title of the Assessment: Role of Management and Leadership from The Fintech Industry.
Assessment number:
In the earth where finance is known much, there's this continuous thing about what issues more i.e. administration of the nuts and the bolts (planning out, organizing, keeping some of the items smooth) or foremost the accusation (concept, incentive, adopting the "new-and-shiny" part). As discussed by Feyen et Al. (2021), it gets fully supercharged in this world where everything is very fast about/related to FinTech, where the banks ditch brick-and-mortar for many of the apps and henceforth shake up their traditions with just a tap of the phone which is now necessary as per the world. This report mainly discusses how to break this regulation i.e. just by peeking at how these beliefs further stretch out in one’s real life. We'll then approximate more and hence contrast the "management" and likewise the "directing" techniques of the FinTech captains who are chosen to be Robinhood's Vlad Tenev and Atom Bank's Anthony Thomson.
For many centuries, the industry world has eventually tussled with a basic fundamental query which are leadership and administration i.e. associated as two sides of the same coin(coin used as a metaphor), or some distinct priorities i.e. driving the organisational accomplishment. While usually operated then interchangeably, their recorded descriptions and reasonable application colour are nicely portrayed/shown. Earlier some surveillance theorists like Fayol and Taylor concentrated on the efficiency & its order. They saw surveys as primarily comprehended as a science of planning, then organising, and henceforth controlling the aids to likewise perform a ton of objectives (OECD, 2020). Just with the priority on certain bureaucracy, diversity thickened the description of an official as a thorough conductor henceforth then retaining the organizational formation in its respective shape. They then emphasize the human aspect i.e. highlighting any leaders' proficiency to encourage, motivate, and henceforth adapt to the current altering occurrences. Mainly the generous perspectives highlight/represent the importance of uncertainty. Is it adequate to meticulously attend to the present/current, henceforth guaranteeing that the techniques are smooth enough? Or is it much substantially important i.e. to supervise with a bold idea, henceforth fostering some sort of creation/imagination and henceforth navigating the challenges which are amidst the steady instability?
The challenge then certainly lies while bridging these evident disparate planets. FinTech leaders really ought to be both of the administrators, likewise ensuring the resilience and hence obedience, and hence the charismatic prophets, navigating further about the creation and henceforth motivating their coalitions (Miller, 2021). The main question remains is can any individual effectively embody both of them, or is it just delicate i.e. between the administration and henceforth the leadership, instructing the skillful orchestration to execute the true mastery?
Management Style: Tenev favours data-driven decision-making i.e. being sure of laboriously on the algorithms and hence the analytics to inform the strategy. Robinhood's unsavoury organisational configuration empowers its workers to take over the ownership and hence fosters quick creation. Nevertheless, it's quiet dependence on industrialization in its consumer assistance has indeed conveyed out the objection for potentially disregarding its risk management (Robinhood, 2022).
Leadership Qualities: Tenev's vision of democratising its finance through its commission free trading has indeed garnered commission-freewing i.e., particularly among the young investors. He then disseminates effectively through social media and hence public impressions, but some then grope that his transmission technique lacks during it's better clarity during the troubles, such as the GameStop tale (team, 2022). But likewise adapting to the regulatory limitations, his certain proficiency to steer the upheaval certainly hangs around to the dubious.
Example: Launching the fractional shares and further any other cryptocurrency trading really showcases Tenev's emphasis i.e. on convenient finance. Nevertheless, the January 2021 trading constraints highlight/show up some certain challenges of balancing some immediate development with its powerful risk surveillance.
Management Style: Thomson sponsors the decentralized management and hence worker authorization. He then likewise prioritises the talent expansion which is typically through the inner career likelihoods and hence the personalised instruction agendas. Interpretation of the assessment concentrates on some certain consumer fulfilment and hence its innovation which is relatively other than any of cleanly quantitative metrics (Salim, 2019).
Leadership Qualities: Customer priority is at the essence of Thomson's leadership. He then actively perpetrates with its consumers on social media and henceforth prioritizes the feedback in any derivative development. His commitment to the creation/innovation certainly led to Atom Bank resulting in the launching of the UK's foremost mobile only mortgage. He then can fosters a favourable corporation civilization with ambitions just like the infinite vacations and hence the adjustable working interpretations.
Example: Atom Bank's app-based mortgage application primarily technique and opening of personalised financial management tools honestly illustrate Thomson's priority on customer amenity and other creations (Pyatt, 2016). His practical social media presence and open transmission procedure further harden his consumer centric supervision.
Tenev and Thomson, while further navigating the same FinTech terrain, chart some distinct classes i.e. through their administration and hence other leadership techniques. Both clearly exhibit data-driven techniques, henceforth leveraging certain analytics to tell on certain decision-making. Nevertheless, their organizational compositions diverge. Tenev's flat scale facilitates some immediate creation but then presents certain challenges in other risk surveillance i.e. evidenced by Robinhood's dependency on the industrialization and hence the subsequent regulatory scrutiny. Thomson, on the different hand, confidences in decentralisation which then empowering the employees and henceforth fostering a customer-centric civilization. This strategy then fosters the arrangement and hence its adaptability but might then lack the skill of Tenev's simplified arrangement. According to Progress Choongo et al. (2023), Their leadership qualities likewise paint/display the contrasting illustrations about it. Tenev's creative and communicative technique has certainly enticed a young, i.e. more of a tech-savvy audience. He then apparently thrives in additional disruptive climates, evident in his embrace of some new financial derivatives just like the cryptocurrencies. Nevertheless, his priority on development and henceforth absence of some clarity i.e. during the crises which then raise some certain crises about the risk administration. Contrariwise, Thomson's consumer centric supervision prioritizes the user proficiency and hence its feedback, as seen in the Atom Bank's app and then personalized about its monetary tools.
Effective surveillance spreads the main groundwork. Data-driven decision making, agile configurations, and some different influential risk surveillance, as then glimpsed in Tenev's direction, equip a neobank for instantaneous development and other creation. Thomson's priority on skill development and decentralised administration likewise fosters a civilization of some inventiveness and hence additional consumer centricity, i.e. critical for long-term commitment (OECD, 2020).
In FinTech, administration mainly graphs about the map, but the administration further inaugurates more about the sails. Further then Counteracting with all its data driven equivalence with some of the consumer centric notions, and agility with the hazard leadership i.e. the substantial mark/point of true accomplishment. Tenev and Thomson, while further navigating some of the distinct circuits further then showcase/demonstrate the vital show between both of them, evacuating us with just a timeless assignment i.e. to thrive in the digital line/wave, neobanks must then apparently infer about both of the captain's thorough technique modification.
Feyen, E., Frost, J., Gambacorta, L., Natarajan, H., & Saal, M. (2021). Fintech and the digital transformation of financial services: implications for market structure and public policy. https://www.bis.org/publ/bppdf/bispap117.pdf
Miller, Z. (2021, January 14). Challenger banks shift from growth mode to focus on profitability. Tearsheet. https://tearsheet.co/member-exclusive/challenger-banks-shift-from-growth-mode-to-focus-on-profitability/
OECD. (2020). Digital Disruption in Banking and its Impact on Competition. OECD. https://www.oecd.org/competition/digital-disruption-in-banking-and-its-impact-on-competition-2020.pdf
Progress Choongo, Mungu Chileshe, Christine Nakamba Lesa, Mwiya, B., & Thomas Kweku Taylor. (2023). The Effect of Leadership Styles on the Growth of Fintech Start-Ups in Zambia. FinTech, 2(4), 698–717. https://doi.org/10.3390/fintech2040039
Pyatt, C. (2016, May 24). Five things we learnt: Meet the Disruptor – with Anthony Thomson, Founder and Chairman of Atom Bank. Pagefield. https://www.pagefield.co.uk/news-insight/five-things-we-learnt-meet-the-disruptor-with-anthony-thomson-founder-and-chairman-of-atom-bank/
Robinhood. (2022). Governance - Leadership Team | Robinhood. Investors.robinhood.com. https://investors.robinhood.com/governance/leadership-team/default.aspx
Salim. (2019, May 22). Anthony Thomson, founder of Metro Bank, Atom and now 86 400. 11:FS. https://content.11fs.com/article/not-making-up-the-numbers-an-interview-w-anthony-thomson-86-400
team, B. P. F. (2022). Robinhood M&A interest, stock upgrade explained - Protocol. Www.protocol.com. https://www.protocol.com/newsletters/protocol-fintech/robinhood-stock
