“It’s important to spend time as a young person talking to older people.”
Not words you hear every day in the fintech space.
However, Olivia Minnock believes the sector “Can be quite an ageist environment and very focused on young people. This often ignores those more experienced in financial services, which can be at the industry’s peril.”
History …
In fact, Minnock sees interacting with older people as a highlight of her work as a voluntary tour guide at the Old Royal Naval College (“ORNC”) in Greenwich. Previously a Tudor palace, it was the birthplace of King Henry VIII, Queen Mary I and Queen Elizabeth I.
She enjoys “Being around and learning about history, which I find really interesting, but also being around the other volunteers, some of whom are older people and have their own stories to share.”
Last year, Minnock was involved in a writing project that celebrated the work of ORNC volunteers by sharing their memories. She believes these memories are “Just as important to preserve as those of the royals who lived at the palace.”
… helps put things into perspective
Talking to the older generation also helps the literature and history graduate put her own life into perspective: “I think it calms you down, knowing a lot of the disasters we’re experiencing have happened before and the world didn’t end … I think it’s important to learn about different people’s lives … just to contextualise what’s going on in your life.”
It’s safe to say there’s no shortage of things going on in Minnock’s life.
Earlier this year, she took on a voluntary role to help launch Fintech Fringe. Drawing on knowledge and contacts gained in her previous role at FinTech Alliance, Minnock curated a programme of speakers for the June 2023 conference.
Aimed at helping fintechs grow, the four-day London event included a “Funtech Comedy Night”, an investor demo session and rooftop drinks.
Embedded services …
Her day job at embedded services facilitator mmob (pronounced em-em-oh-bee) sees Minnock doing more of what she loves: bringing people and businesses together for mutual benefit.
She explains that embedded services is “Giving people access to what they need, where they currently are and when they need it. And … on a platform they’re comfortable with and trust.” Something that would have appealed even 500 years ago!
If, for example, a customer uses a taxi booking app to arrange a ride to attend a birthday party, they might also be open to purchasing a bunch of flowers via the same taxi booking app, but sold by a different company.
… brings convenience to the customer
Trust in the taxi booking brand, combined with the convenience of not having to look elsewhere for a gift, encourages the customer to buy then and there in the taxi app.
The taxi booking company makes a commission on the flowers purchase, the florist makes a sale they might not otherwise have made, and the customer saves time and effort.
But under the hood …
Customers who choose to buy flowers via a taxi app should have an easy, quick and seamless experience.
However, making the technology used by different organisations, i.e. a taxi app and an online florist, work together properly can be complex and time-consuming.
… integration can be a headache
In fact, it can take a team of software developers many months to reach the stage where their company’s product or service can be purchased without leaving the website or app of another company. Even then, once this product or service is handed to the partner, it can take more months (if not years for larger behemoths) to reach a live integration.
One snippet of code
Minnock explains that mmob builds embedded journeys for these products and services, which can be launched in a partner’s app or website through a single snippet of code. All that is needed is for one developer to spend a couple of hours to integrate one company’s offering into that of another.
She continues: “Where we’re winning is when a service provider is trying to sell into a large organisation and they are both keen to partner but the time to integrate technically is just causing a huge pain point. We can come in and be that … glue in the middle that just … speeds it all up and makes it a lot easier.”
Sticking power
As well as illustrating what her company does, the glue analogy brings to life what Minnock seems to do naturally, i.e. help people and organisations create sticky relationships by helping each other.
In her various roles at FinTech Alliance, FinTech Fringe and mmob, she has demonstrated a knack for bringing people together for mutual benefit (and fun).
Perhaps it’s this knack that will see her go down in fintech history!