Periodically NACUSO has featured CEOs in a fun spotlight interview. We sat down recently (virtually of course) with Siva Narenda, one of the co-founders and CEO of Tyfone to find out how they came to be, what's the plan for the future and what does Siva do in his spare time. Here's his story:
PART ONE: Life Story and Experiences...What’s your current position and can you give us a brief overview of what it is you do in your work?
I am one of the Founders of Tyfone and CEO of the company which means I get to do all the things no one else wants to do. It’s important for me to define our purpose and why we exist and the value we bring to the ecosystem. Our purpose is to fill the gap between most consumers wanting money in community minded financial institutions, but they see digital services are done better by big banks. By filling this purposeful gap with innovative digital technologies with a great user experience we enable credit unions to compete with the big banks even in the digital domain.
What would you say most motivates you to do what you do? What are you most excited or passionate about?
A couple of things. From a market vantage point, we believe there is a place for big banks. The bigger you are, the faster you grow; however, that doesn’t tell the whole story. We want to really look at retail consumer needs and we know that community minded financial institutions are very necessary to serve retail consumers. From a technology vantage point, digital banking is where innovation happens, and it moves fast. What is true today is not true tomorrow and learning is a passion for me. When your brain hurts, it’s fun! So, both the market need and technology pace motivates me.