Interview with FinTech Specialist Ferhan Patel

New York City NY

02 June, 2022

6:20 AM

Description

The workplace is changing. Digital transformation and the adoption of collaborative technologies are forcing enterprises to rethink their office spaces and processes. The modern workforce is also changing, with Millennials making up the largest cohort of new employees. These digital natives expect different things from their jobs, and react differently to traditional payment. The millennial generation is the largest living generation today. By 2029, they will make up 72% of the global workforce, along with Generation Z. In the years to come, the combined purchasing power and influence of these two generations will shape the world of commerce. It is predicted that Millennials will be the ones who make up the largest share of the workforce, accumulate the greatest wealth, and hold positions of influence and power," says Ferhan Patel, Canadian FinTech Professional. It is fair to say that Ferhan Patel is a well-rounded entrepreneur whose list of ventures, enterprises and achievements is extensive. He is the co-founder of one of the industry’s best online global payment processors. Ferhan Patel covers a broad range of speaking topic such as e-wallets, risk & fraud monitoring, payments compliance and emerging payments technology in Canada and US. . We are therefore very grateful that we got to ask him a few of our own questions to gain some insight in to the FinTech world. How Did Ferhan Patel Become an Entrepreneur? Ferhan Patel: As a child, I showed an aptitude for computer science, academia, and hard work. I also developed a passion for entrepreneurship early on. Additionally, from a very early age, I had a desire and an ability to solve problems. Coming from a modest background, I envisioned a successful career path from an early age. I started out by working alongside my father, in our family owned grocery store. To this day, I credits my discipline, drive and passion for problem solving and entrepreneurship to this early experience - and the expert advice of my father. What Topics is Ferhan Patel Most Passionate About? Ferhan Patel: Financial Inclusion and empowering people through financial literacy, and related investments in the field. Also the satellite topics such as E-Commerce – Credit Card & Alternative Payments, Payment Service Provider/Payment Facilitation, E-wallet, Prepaid Cards, Digital Gift Cards, AML/KYC and Risk Monitoring & Automation. How Does Ferhan Patel See the Future of this Field? Ferhan Patel: FinTech consolidation, neobanks in emerging markets, and open modular banking will make this world more agile and hopefully more equitable and affordable. It is my belief that Decentralised Finance is the way to democratize finance, and I am sure that the future will be decentralised, technologically. What are Ferhan Patel’s passions outside of work? Ferhan Patel: It is my passion to empower young entrepreneurs and build diverse businesses, especially in tech and real estate. Outside of work, one of my favorite pastimes is painting—I love being able to create something beautiful from nothing. Of course, art creation also requires a keen attention to detail and a lot of patience. Luckily, I have cultivated both of those qualities!