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Welcome to another episode of Category Visionaries, the show that explores the future of tech with innovative B2B founders. In today’s episode, we’re speaking with Shamir Karkal, Co-Founder and CSO of Sila, a Money API platform that has raised over $20 million in funding.
Key topics discussed in this episode:
Look for opportunities to build platforms and tools that simplify and streamline the process of developing financial applications, addressing the pain points faced by innovators in navigating complex payment systems and regulatory requirements.
When building fintech products, prioritize serving specific customer needs and use cases exceptionally well, rather than trying to match the breadth of functionality offered by traditional players from the outset. Expand your feature set gradually based on customer demand and strategic priorities.
Keep a close eye on the evolving payments landscape, including the launch of new real-time payment networks like FedNow, and adapt your product roadmap to support these systems as they gain adoption.
Recognize that the fintech industry, like many others, is subject to hype cycles and market fluctuations. Stay focused on building and shipping products that solve real customer problems, and trust that success will come with time and consistent effort.
When building payment functionality into your product, pay close attention to edge cases and error scenarios, striving to make it as easy as possible for customers to troubleshoot and resolve issues. A smooth payment experience is critical to customer satisfaction and trust.