The role of Purpose in FinTech and how to craft a strategic Purpose to create differentiated Products that add customer value

Simon Clarkson is the Founder and Consultant CMO at Purposecraft where he helps companies develop and implement a clear, evidence-based strategic purpose, while empowering functions to be catalysts for change and creators of customer value.

In today’s episode, we go deep to understand what do we mean with Purpose. Its impact on company success, the governance to measure it - and how he’s successfully done this with a 9000 people organization! We explore the role of Purpose in FinTech and discuss a framework you can use to define a clear evidence-based strategic purpose to differentiate your Product and FinTech.

We discuss how Purpose and Strategy are two sides of the same coin and how strategic purpose development is the highest level of strategy, which involves defining the value that a company brings to the world and drives its strategic direction.

👉 You can find Simon here

• LinkedIn: https://www.linkedin.com/in/simonclarkson/
• LinkedIn Purposecraft: https://www.linkedin.com/company/purposecraft-ltd/
• Website: https://purposecraft.co.uk/

👉 And you can find Monica here:

• LinkedIn: https://www.linkedin.com/in/monicamillares/
• TikTok: https://www.tiktok.com/@moni_millares
• YouTube: https://www.youtube.com/@moni_millares
• Website: https://moni-millares.mystrikingly.com/

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In today’s episode we cover:

(02:05) The Why of Purposecraft - a story about their journey and how they got into existence

(06:26) Purposecraft’s purpose and problem statement they are solving

(10:07) Definition of purpose in the context of an organization

(11:34) The relationship between having a clear purpose and having impact in society

(16:03) The role of the CEO, Clevels and Board when creating a company purpose

(16:54) The impact of leading with the heart

(19:27) How Simon brought a 9000 people organization on board setting up a new company purpose

(23:03) How to measure purpose and success

(25:23) Fintech and purpose

(30:38) How our capabilities and identity place us in a unique way to help customers with financial well being in a way that it's different than everybody else

(35:50) Questions can we ask ourselves to set a strategic purpose

(40:53) Where to find out more about Simon and Purposecraft

(41:15) Closing question: If you could change one thing, just one thing in Fintech, to make fintech better and have positive impact to customers, staff and investors, what could it be?

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Production and marketing by Monica Millares. For inquiries about sponsoring the podcast, email fintechwithmoni@gmail.com

Disclaimer: This episode does not constitute professional nor financial advice and does not represent the opinion nor views of my current, past or future employers; nor those of the guests. The guest has agreed to record and release our conversation for the use of this podcast and promotion in social media.