2018 Corporate Excellence Awards Supplement

132 CORPORATE VISION / Corporate Excellence Awards 2018 6 CORPORATE VIS ON / Issue 7 2018 , Mash has been at the forefront of FinTech innovation since 2007. Recently, we profiled the firmand spoke to Group Chief Executive Officer, James Hickson to discover more about Mash and their innovative ways. Mash: Taking Europe By Storm Since 2007, Mash have been at the forefront of FinTech innovation. The group is one of only two companies in Europe that provide both in-store and online pay later solutions across Europe. The firm leverage their advanced proprietary algorithms, machine learning capabilities and auto- mated platform to deliver superior finance and payments solutions to thousands of customers every day.Mash recently secured a partnership with Verifone to de- liver pay later solution at point of sale to hundreds of thousands of merchants across Europe. Mash represents a prime example of how established players can build accretive partnerships with establish Fintech players to build and retain market share. Mash are focused on building products and services that mer- chants and consumers trust and want to use, as James explains. “We want to wow our customer’s one transaction at a time. We believe that when you focus relentlessly on your customer and providing disruptive solutions you change how you compete in the market and find new green pasture. Yes, we expect to lend more than 0.5B EUR next year, yes, we will increasingly add new partners and invest relentlessly in our products, but none of this makes sense if we don’t wow our customers every day, every time. “Let’s take how we developed our pay later solution. We spent time thinking about the merchant and their challenges. While looking at the payments value chain we realised that the merchant was not having a great experience – they had to pay a percentage of the transaction, they had a monthly fee for use if they wanted an omni channel provider, there was an integration cost in many cases, they owned the credit risk and settlement took time. We felt that was crazy and built a solution that addresses each of these challenges” “Our multi-disciplinary team dis- cussed how to wow the merchant. We let the best ideas bubble to the surface and realised that if we took away the barriers to great service, we would be able to create a solution that would be a competitive advantage for merchants, and could win market share. And so, our pay later solu- tion was born. “Today, as a result of our product built on this core belief, our prod- uct is experiencing rapid scaling.” When discussing the overall mission of Mash, James informs us that they want to be the company that says yes, and who are the first choice for financial services for both consumers and merchants. “We believe in ensuring consum- ers and merchants have the very best experience, and a key com- ponent of that is to leverage our underwriting capability as a key area to differentiate. For example, we can onboard a customer at point of sale in a store faster than a credit card transaction. You don’t need to be registered when you apply to use our service for the first time – the whole process including onboarding takes seconds. We leverage risk based pricing to say yes to more people than our competitors; we figured that a solution that say’s yes to only 35% of the customer base (typical of our peers) was not going to drive the merchant and customer experience we wanted. We invested heavily to develop our own proprietary cloud based lending platform and leverage a combination of big data, machine learning and alternative credit sources to enrich our process. “This is truly incredible and a real innovation and an indication of our commitment to use next generation technology at every touchpoint in our value chain.” Mash say that they have some incredible competitors and James thinks that collectively they are driving the industry forward, es- pecially in payments, to develop 1805CV50 better options for merchants and consumers. “Competition is great for the industry. For consumers, we offer fair and transparent pricing with flexible payment terms. It is about choice and treating merchants and consumers with respect. As for merchants, our service is with- out charge, we process payment instantly and we assume the credit risk. Our unique model, also enables us to provide merchants with special offers that help them promote their business.” Recently, James was selected in Corporate Vision’s Corporate Excellence Awards 2018 where he was awarded the accolade Most Influential CEO of the Year 2018 – Fintech. Whilst discussing the success, James reflects on what the win means to him, as well as the firm. “I am honoured to receive the award, but this is not a reflection of my efforts or capabilities. For me, this is a reflection of the hard work of the amazing team, board and partners I get to work with every day. Together, we have dared to dream bigger and bolder for our consumers and mer- chants and build something truly incredible.” Speaking of the team, it is no se- cret that behind every successful company is a dedicated group of

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