fintechview Issue #3

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magazine

All Eyes on

the Brand of the Year Themis Christou

Chief Marketing Officer, The Trading Pit Embracing High Performance Culture Velerious Ovsianikas

The Imperative of Cybersecurity in Today’s Digital Landscape Constantinos Papadamou

Issue #3 - April 2024

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Contents 03 04 12

Editor’s Note The Brand of the Year Themis Christou

Transforming your Employees to Brand Ambassadors Georgia Aristeidou

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How the Corporate Culture is shaping the Employer Branding

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Embracing a High-Performance Culture

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The Rise of Fintech Entrepreneurship

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Ensuring Business Resilience

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Fintech Dynamic Enviroment & the Importance of Workspace Security

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Kypros Politis

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Christina Achilleos

Valerijus Ovsianikas

Philippe Ghanem

Constantinos Papadamou

Frixos Mozoras

Cyber Security Architect - Team Lead

Klitos Platis Advocate and Partner at Kleanthous & Platis

8 Pieces of Advice from Successful Women in FinTech

Editor’s Note It gives me great pleasure to welcome you to the third edition of FintechView Magazine for which I have acted as Editor-in-Chief.

This is an issue dedicated to successful brands that excel in customer experience, specialization and corporate culture.

The rapid emergence of numerous fintech start-ups in the finance sector has contributed to the growth of many other sectors and trust in the workplace has been emerging as one of the most popular topics. A happier workforce is clearly associated with companies’ ability to deliver better customer satisfaction and higher employee productivity. When employees trust their leaders, safety and business sustainability becomes a top priority internally and it reflects externally, and customers can enjoy a safer and transparent service.

In this issue we present to you high-level executives, lead ers and specialists in their sector, who share with us their insights on the above-mentioned challenges, the latest trends, and best practices in leadership. Enjoy!

Drosoula Hadjisavva

Read us online www.fintechview360.com Contact us: Consultant editor in chief: Graphic Designer: Photo Production: Content Support:

Follow us info@fintechview360.com • marketing@fintechview360.com Drosoula Hadjisavva Demetra Ioannou Petros Demetriou Maria Phytidou

The information contained in this publication has been obtained from sources the publishers believe to be correct.

The publisher wishes to stress that the information contained is ‘general’ in nature and for informational purposes only, promoting personal opinions and thoughts.

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Themis Christou Chief Marketing Officer at The Trading Pit

The Trading Pit: All Eyes on the Brand of the Year

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Effective branding goes far beyond mere market pres-

ence; it’s about forging deep, meaningful connections with our audience. Our branding strategy is intricately designed

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to resonate emotionally with our traders.

Could you share the key strategies behind the extraordinary journey of The Trading Pit (TTP)?

The Trading Pit’s journey to rapid recognition can be attributed to a multifaceted strategy grounded in extensive market research. We first identified unmet needs in the market and then developed a unique value proposition that directly addressed these gaps, setting us apart from our competitors. Our marketing strategies weren’t just innovative but tailored to resonate deeply with our target audience.

A pivotal aspect of our brand philosophy is ethical transparency. We’ve cultivated a brand environment where clients feel safe, valued, and understood. Our approach is not just about making transactions but about building relationships. We put our traders at the core of every decision, endeavouring to meet and anticipate their needs. This approach extends to product development, customer service, and community engagement. We’re not just a trading platform but a partner in our clients’ trading journeys. Our focus on longevity and a long-term vision has been vital - we’re not chasing quick successes.

What tactics do you use to differentiate The Trading Pit’s brand and messaging?What tactics do you use to differentiate The Trading Pit’s brand and messaging?

We believe effective branding goes far beyond mere market presence; it’s about forging deep, meaningful connections with our audience. Our branding strategy is intricately designed to resonate emotionally with our traders. This is achieved by understanding their aspirations, challenges, and values and mirroring these insights in every aspect of our communication.

We recognise that each trader’s journey is unique, and our branding reflects this diversity of experience.

From novice traders just starting to seasoned professionals seeking advanced strategies, our messaging and services are tailored to meet them at their point of need. This personalised approach helps build a relationship based on trust and understanding.

Support extends beyond transactional interactions; we aim to be a supportive partner in our traders’ financial journeys. By offering support that encompasses educational resources, market insights, and responsive customer service, we are not just a platform but a trusted ally in their trading endeavours.

Presenting

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Valerijus Ovsianikas CEO, Tickmill

6 TTP’s branding is a holistic approach that combines emotional connection, personalised experiences, consistent quality, active engagement, and comprehensive support. This approach has fostered loyalty and a sense of community among our users, setting TTP apart as a brand that genuinely understands and champions its traders.

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Key to our approach is the strict adherence to truth in

advertising. We meticulously avoid making overpromises or presenting any misleading information.

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Facing the sector’s compliance challenges, how does TTP’s marketing strategy maintain integrity and align with ethical standards?

The Trading Pit approaches marketing with an unwavering commitment to integrity and ethical standards, especially in the face of the complex challenges inherent in the trading sector. Our strategy is rooted in transparency; we ensure that all our marketing materials, from advertisements to educational content, are transparent and honest and provide a realistic picture of our services and the risks involved in trading.

Key to our approach is the strict adherence to truth in advertising. We meticulously avoid making overpromises or presenting any misleading information. All our claims are verifiable and presented in a context that accurately reflects market realities. This is crucial in maintaining the trust and confidence of our clients, which is the bedrock of our brand’s reputation.

Moreover, respecting our clients’ privacy and adhering to ethical data use policies is non-negotiable. We employ advanced data protection measures and uphold stringent privacy policies, ensuring our clients’ information is handled with the utmost security and confidentiality. Our communication strategies are tailored to respect the preferences of our clients, and we engage in responsible data practices that prioritise their privacy.

Overall, TTP’s marketing approach, deeply rooted in ethical principles and compliance adherence, is designed to build long-term relationships based on trust and transparency. By upholding these values, we ensure the integrity of our marketing efforts and reinforce our standing as a responsible and trustworthy leader in the trading sector.

Given the intense competition in the trading and prop trading sectors, how does TTP leverage branding to create a unique market position?

The Trading Pit leverages its branding to carve out a unique position in the competitive trading and prop trading sectors by emphasising a holistic and innovative approach. Our branding strategy goes beyond highlighting features and benefits; it encapsulates a narrative of empowerment, expertise, and partnership.

Excellence in customer service is another cornerstone of our brand. We understand that trading can be complex and, at times, daunting. Therefore, we strongly emphasise accessible, knowledgeable, and responsive customer support. Our service team is not just solving problems; they are trusted advisors, guiding our clients through their trading journey.

Positioning TTP as a partner rather than just a service provider is central to our branding. We provide many resources, from educational content to market insights, empowering our traders with knowledge and skills.

This approach fosters a deeper connection with our clients, positioning TTP as an ally in trading.

Furthermore, we actively engage with our community, soliciting feedback and shaping our services and products around our clients’ real needs and preferences. This level of engagement is uncommon in the sector and positions TTP as a brand that genuinely listens and responds.

Could you share your experience with collaborations or partnerships and their contribution to TTP’s success?

Collaborations and partnerships have been instrumental in enhancing The Trading Pit’s reach and strengthening our market position. Our approach to collaboration is strategic and focused on creating synergies that align with our core values and objectives.

One key collaboration area has been with influential figures in the financial world. By partnering with respected financial influencers and thought leaders, we’ve tapped into their expertise and credibility, bringing valuable insights and perspectives to our clients. These partnerships also serve as an endorsement of TTP,

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enhancing our reputation and trustworthiness in the eyes of potential clients.

Sponsorship of financial education programs has been another critical aspect of our collaboration strategy.

By supporting educational initiatives, we’re contributing to the development of the trading community and positioning TTP as a brand that values knowledge and continuous learning. These programs have helped us reach new audiences, particularly among those new to trading, and have established TTP as a knowledgeable and reliable partner in their trading journey.

Beyond financial metrics, how does TTP measure its success and impact within the community and industry?

We recognise that success extends beyond financial performance. To comprehensively gauge our impact and progress, we consider a variety of key indicators that reflect our broader contributions to the community and industry.

Customer satisfaction and retention rates are primary indicators of our success. We regularly gather feedback through surveys, focus groups, and direct interactions to understand our client’s experiences and areas for improvement. High retention rates and positive feedback demonstrate client satisfaction, strong client relationships, and trust in our services.

Brand equity is another crucial metric. We assess how our brand is perceived regarding reliability, expertise, and value. This involves monitoring brand recognition, market reputation, and our branding strategies’ effectiveness. A strong and positive brand image indicates that we successfully communicate our values and differentiate ourselves in the market.

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Community engagement and social responsibility efforts are also vital metrics. We participate in and sponsor various community events and initiatives that align with our corporate values. This involvement reflects our commitment to being a responsible corporate citizen and building solid relationships within the communities we serve.

Thought leadership, evidenced through our presence in industry discussions, publications, and media, is another important measure. By contributing our expertise and insights, we establish ourselves as leaders in the field and actively shape the future of the prop trading industry.

Where do you see the prop trading industry heading, and how will this affect TTP’s marketing strategy?

The prop trading industry is poised for significant transformation, driven primarily by rapid technological advancements and evolving market conditions. We anticipate a future where technology enhances trading platforms and fundamentally changes the way trading is conducted.

Given these impending changes, our marketing strategy will be geared towards positioning us as a leader in harnessing and adapting to these technological innovations. Our communication will emphasise our commitment to staying at the cutting edge of technology, showcasing how our platform integrates these advancements to provide traders with superior tools and insights.

Risk management is another critical area that will become even more relevant. As markets evolve and trading strategies become more complex, managing risk effectively is paramount. Our marketing efforts will highlight our sophisticated risk management tools and expertise, reassuring current and potential clients of our capacity to safeguard their interests in a volatile trading environment.

Moreover, adaptability will be a central theme in our messaging. The prop trading industry is dynamic, and our ability to swiftly respond to market changes is a significant competitive advantage. We will showcase our agility in technological adaptation and our responsiveness to regulatory changes, global economic shifts, and evolving trader needs.

In addition to these, our marketing strategy will also encompass an educational aspect. As the industry evolves, there is a growing need for traders to be well-informed about the latest trends and technologies. By providing valuable educational content, we aim to position TTP as a trading platform and a thought leader and educator in the prop trading space.

Furthermore, we will continue to build on community engagement and customer-centric approaches. Understanding and addressing the needs and feedback of our community will remain a cornerstone of our strategy, ensuring that as the industry evolves, our services and communications evolve with it to meet the changing demands of our clients.

In summary, as the prop trading industry heads towards a technology-driven future, TTP’s marketing strategy will be focused on demonstrating our technological prowess, risk management capabilities, adaptability, educational leadership, and unwavering commitment to our trading community. This holistic approach will ensure that we remain at the forefront of the industry, leading through innovation and a deep understanding of our clients’ needs.

What marketing trends and developments are you most excited about in 2024, and how will TTP leverage them?

As we look towards 2024, several cutting-edge marketing trends and developments stand out. The Trading Pit is poised to capitalise on these to enhance our marketing strategies significantly.

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By leveraging advanced AI algorithms, TTP can create

highly personalised user experiences. This means delivering tailored content, specific trading insights, and customised service offerings based on individual trading patterns, preferences, and goals.

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9 AI-driven personalisation is at the forefront of these trends. We are excited about the potential of AI to transform how we interact with our clients. By leveraging advanced AI algorithms, TTP can create highly personalised user experiences. This means delivering tailored content, specific trading insights, and customised service offerings based on individual trading patterns, preferences, and goals. Such a level of personalisation can significantly increase engagement, customer satisfaction, and loyalty.

Ethical marketing and sustainability are also key focus areas. In 2024, TTP aims to champion these initiatives by promoting transparency, responsible trading, and sustainable business practices. Our marketing campaigns will emphasise our commitment to these values, highlighting our efforts in ethical operations and our contributions to sustainable finance. This aligns with our corporate ethos and resonates with a growing segment of clients who value corporate responsibility.

In addition to these, we are also looking at the growing trend of interactive and experiential marketing. We aim to engage our clients in more meaningful and dynamic ways by creating interactive webinars, workshops, and online events. This approach allows for real-time feedback and fosters community among our users.

Another exciting development is the increasing use of big data and analytics in marketing. TTP can gain insights into market trends and client behaviours by harnessing big data. This will inform strategic marketing decisions, allowing us to tailor our offerings and anticipate market shifts more accurately and effectively.

Lastly, social media marketing will continue to play a crucial role. We plan to enhance our presence on various platforms, using them for promotion, community building, customer service, and market education.

The aim is to create a robust online community where traders can share insights, learn, and grow together.

What advice would you give future marketing leaders aiming to replicate TTP’s success and build a lasting legacy?

To future marketing leaders aspiring to emulate the success of The Trading Pit and build a lasting legacy, the path is multifaceted, requiring a blend of strategic vision and practical skills.

Firstly, continuous learning is paramount. The marketing landscape is ever-evolving, especially in the trading sector. Stay abreast of the latest trends, technologies, and market dynamics. This isn’t just about formal education; it involves a mindset of curiosity and a willingness to constantly explore new ideas and approaches.

Understanding your customers is the cornerstone of effective marketing. Dive deep into your audience’s needs, preferences, and behaviours. This understanding should go beyond superficial market research; it involves empathising with your customers, engaging with them directly, and developing insights that drive your marketing strategies.

Embracing technology is crucial in today’s digital age. Whether leveraging AI for personalised marketing, using big data for insights, or exploring new platforms for engagement, technology can significantly enhance your marketing efforts. However, it’s essential to use technology for its own sake and in ways that genuinely add value to your customers.

Maintaining high ethical standards is non-negotiable. This means being truthful in your marketing messages, transparent in your communications, and responsible in handling customer data. Ethical marketing builds long-term trust and credibility, invaluable assets for any brand.

Fostering a culture of innovation within your team or organisation is vital. Encourage creativity, experimentation, and risk-taking. Not every initiative will succeed, but a culture that supports innovation is critical to discovering breakthrough strategies and staying ahead of the competition.

Being responsive to market changes is another critical aspect. The trading sector, in particular, is subject to rapid changes. Your ability to quickly adapt your marketing strategies in response to these changes can set you apart from competitors.

Building trust and a strong brand identity go hand in hand. Trust is earned through consistent, reliable, and authentic engagement with your audience. Your brand identity should reflect your core values and resonate with your target audience. It should be distinctive, memorable, and consistently expressed across all your marketing channels.

Finally, remember that building a lasting legacy involves a balance of achieving immediate objectives and keeping an eye on long-term goals. It’s about making an impact that endures beyond current trends and immediate profits. This requires a strategic vision, a commitment to your brand’s core values, and an unwavering focus on creating genuine value for your customers.

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Who is Who | Themis is the Group CMO at The Trading Pit, a newly launched proprietary trading firm.

Themis has extensive experience in delivering long-term brand growth within the fintech industry. Helped drive the development of several prominent companies, most notably Tickmill, M4Markets and Orbex and the London Barbican Centre, London City Hall, where he worked for the Mayor of London. Specialises in building clean, reputable brands from the ground up and is an expert in marketing and development for start-ups and new-born brands, with over 12 years of experience in managerial positions in building quality brands and magnifying brand equity in the fintech and forex industry.

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Georgia Aristeidou Global Head of HR at the Trading Pit

The power of employer branding and how to transform your employees to brand ambassadors

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Employees are always our best ambassadors, and those who

are highly effective in promoting and representing The Trading Pit’s brand. …Essentially, they are the ones who can authentically share their positive experiences and insights with others.

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What is employer branding and why is it so important nowadays?

Employer branding is simply the process of shaping, defining, and promoting the company’s reputation as an employer and the value it offers, targeting specific personas who align with the company’s DNA, values, and mindset. As correctly mentioned, and couldn’t agree more: ‘If the reputation of a company’s products and services is its face, the employer brand is its heart and soul’. Thus, it is one of the most important factors not only for attracting top-notch talent but also for enhancing employees’ loyalty and engagement within their organization. It shapes the company’s culture and fosters employee satisfaction, retention, and productivity, ultimately contributing to the overall success and growth of the company, and driving employees’ actions towards a common vision.

Employees are the best brand advocates. What strategies The Trading Pit applied to develop employees as quality brand ambassadors?

Employees are always our best ambassadors, and those who are highly effective in promoting and representing The Trading Pit’s brand. The alignment between employees and the brand cultivates a sense of pride and belonging, transforming them into passionate advocates for the company. Essentially, they are the ones who can authentically share their positive experiences and insights with others, whether it’s through word-of-mouth recommendations, social media engagement, or other forms of communication.

This genuine advocacy from employees can significantly contribute to building trust, credibility, and awareness for the brand among candidates, recruitment agencies, employees, any stakeholders and overall, the broader community.

As HR Department, we have applied various strategies to achieve this goal. Some of them are the quarterly town halls trough we are sharing updates, set priorities and celebrate achievements, by having clear horizontal and vertical communication, by having a culture where all employees should have a well-crafted knowledge of our product, thus employees can understand The Trading Pit’s unique identify, by giving opportunities for a continuous, learning development and growth, by offering to our employees a bunch of perks aligned with their needs (like parental benefits tailored to the parents of the organization) and of course by giving and receiving feedback as our continuous evaluation process involves not only employees evaluations but also managers’ evaluations from their teams.

How is employer branding shaping public perception of your brand? How do you measure? Is this supporting recruitment?

Employer branding plays a significant role in shaping the public perception as serve us as a distinctive identity for our company, setting us apart from competitors within the Fintech industry in the eyes of potential employees and the wider public and, of course, supporting the recruitment process.

14 The fact that top notch candidates and veterans in the marketplace choose us as employers, despite being considered a startup, is an important metric of where we stand in the job market and the role that Employer branding plays in the recruitment process. On the other way around, our capability of having professional employees who created impact on business performance is what gives us a competitive edge.

The low numbers of the turn over and the periodic checks that we are conducting give us the confidence to stand out from other companies. Quarterly we are having as an HR Department individually one on one discussions with all employees, while proudly we are conducting an anonymous survey every six months.

Based on the last anonymous engagement survey we conducted, employees can freely express their opinions and provide suggestions and feedback. If, on the last anonymous survey, the vast majority of employees—98%—stated that ‘if given the chance, I would choose The Trading Pit again as their employer’, while 97.8% ‘feel proud to work for The Trading Pit and consider themselves a part of it’, and 100% are ‘committed to doing what is required to help the organization succeed’, I can confidently say that we have a solid cornerstone for a dynamic and recognizable employer brand.

What’s the ideal onboarding experience in your opinion?

The ideal onboarding experience is the one that carefully crafted a journey that smoothly integrates the new hires into the company’s culture while providing them with the necessary tools and knowledge to excel in their roles. It begins with a warm welcome, where the new employee feels valued and supported from day one. Clear communication channels are established, ensuring that expectations are transparent and values and goals are aligned. Personalized training programs are implemented, catering to individual learning styles and needs, while mentors or buddies offer guidance and support throughout the initial stages.

Continuous feedback methods are implemented, allowing for adjustments and improvements as needed.

By prioritizing both the professional and personal development of new hires, the perfect onboarding experience sets the foundation for long-term success, new joiners’ alignment with our brand and retention within the company.

What advice would you give to the younger generation/candidates who wish to join the fintech sector?

I would say to invest in their skills and be engaged in a continuous learning process, either in informal type of education from employees and colleagues either via learning courses, workshops, seminars, etc in order to develop technical skills (regardless role or position) for understanding the fundamentals. In addition, one should be adaptable and creative, be open to new ideas, technologies and willing to embrace changes as it’s a fast-paced industry. Last but not least I would advise them to be passionate, persistent and committed to their goals and dreams. With determination and hard work, they can build a successful career in the exciting and dynamic field of fintech.

Who is Who | Georgia Aristeidou, who is leading all the Group HR Activities and Strategy, has worked in the Project Management and Fintech industry for over 14 years. She has substantial experience in strategic human resource planning, performance management, managing multicultural teams, staffing, employment contract negotiations, employee benefits and wellbeing, compensation and payroll, planned HR budgets, provision of HR reports and data, training and development, and management coaching. She started her career by managing various projects in one of the leading institutions in the Euro – Mediterranean region for research, sustainable development, social justice and technology-empowered solutions. Part of her duties was the development of indicators, best HR practices and methods, promoting equality and diversity and advising on how to liaise with a wide range of people involved in policy areas such as staff performance and education and development.

She has also worked in the Fintech Industry (Forex and SaaS), where she has overseen efforts that have resulted in more effective and streamlined companywide talent acquisition practices that better utilise technology, a companywide diversity and inclusion strategy, solid onboarding programs, providing information about policies, working conditions and covering all HR related projects and areas.

As Global Head of HR at The Trading Pit, she has changed the function, culture, and impact of HR across the Company to support its business goals and strategies and the needs and aspirations of its employees worldwide.

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Christina Achilleos HR Officer at the Trading Pit

How the Corporate Culture is shaping the Employer Branding

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A compelling brand identity infuses employees with a sense of purpose, aligning them with the company’s mission, vision, and values. This alignment fosters pride and belonging among employees, who become enthusiastic brand ambassadors.

“The top three elements of corporate culture that tend to matter the most to employees are leadership and management style, work-life balance and flexibility, and recognition and appreciation.

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How would you describe The Trading Pit’s corporate culture?

The Trading Pit’s (TTP’s) corporate culture is grounded in a clear vision and a defined set of values that inform decision-making at all levels of the organization. Our foremost priority is transparency and open communication, which fosters trust and collaboration among employees. We firmly believe that transparent communication about company goals, strategies, and performance promotes alignment and engagement among our team members.

Furthermore, TTP places a strong emphasis on continuous learning and development, demonstrated by our investment in training and skills enhancement. This focus not only improves individual performance but also strengthens the organization as a whole.

In light of today’s rapidly evolving business landscape, our culture prioritizes adaptability and resilience. We encourage employees to embrace change and challenges, learn from failures, and continuously strive for improvement.

What are the TTP core shared values?

Some of TTP’s core shared values include innovation, transparency, customer-centricity, integrity, and agility. Innovation is crucial for staying ahead in the rapidly evolving fintech landscape, driving the development of groundbreaking products and services. Transparency builds trust with customers and stakeholders, fostering strong relationships and loyalty. Customer-centricity ensures that all decisions and solutions prioritize the needs and experiences of users, enhancing satisfaction and retention. Integrity is essential for upholding ethical standards and compliance with regulatory requirements, safeguarding the company’s reputation and credibility. Agility enables us to adapt quickly to changing market conditions and

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customer preferences, remaining flexible and responsive in an ever-changing environment. These core values form TTP’s culture and guide its actions, decisions, and interactions as it strives for growth and success in the competitive industry.

Which are the top 3 elements of culture that matter the most to employees based on your experience?

Based on my experience so far, the top three elements of corporate culture that tend to matter the most to employees are leadership and management style, work-life balance and flexibility, and recognition and appreciation. Employees value supportive, empowering leadership that fosters trust and open communication, enabling them to feel motivated and engaged. Additionally, maintaining a healthy work-life balance and offering flexibility in work arrangements, such as remote work options and flexible scheduling, promotes well-being and job satisfaction. Furthermore, employees desire recognition and appreciation for their contributions, whether through verbal praise, monetary rewards, or opportunities for professional growth, reinforcing positive behaviors and increasing morale and loyalty within the organization.

What challenges can the HR sector face in the fintech sector?

In today’s dynamic landscape, the HR sector encounters numerous challenges, particularly within the fintech industry.

Among these challenges, three stand out as pivotal: regulatory compliance, retention and engagement, and adapting to rapid industry growth.

19 Firstly, the regulatory environment surrounding fintech operations is complex and ever evolving. HR has to make sure that hiring, benefits, and workplace rules follow strict financial and privacy laws, which can be different depending on where the company operates. This means HR needs to really understand these rules.

Secondly, retention and engagement are critical concerns in the competitive fintech realm. High turnover rates pose a significant risk to organizational stability and performance. To address this, HR must implement robust employee engagement initiatives, provide meaningful career development opportunities, and cultivate a positive work culture that fosters loyalty and commitment among employees. By prioritizing these efforts, fintech companies can mitigate turnover and retain top talent effectively.

Lastly, the rapid growth characteristic of fintech startups presents unique challenges for HR resource management. As companies scale, HR processes such as recruitment, onboarding, and performance management come under increasing pressure to accommodate expansion without compromising quality. Strategic scalability planning and the implementation of efficient HR systems are essential to support the company’s growth trajectory while maintaining operational excellence.

How does branding inspire employees?

Branding serves as a powerful source of inspiration for employees in various ways. A compelling brand identity infuses employees with a sense of purpose, aligning them with the company’s mission, vision, and values. This alignment fosters pride and belonging among employees, who become enthusiastic brand ambassadors. Furthermore, branding provides clarity of direction and priorities, guiding employees in their roles and decisions. When employees understand and believe in the brand’s commitment to customer satisfaction, they prioritize delivering value, leading to better service and customer experiences. Moreover, being associated with a distinct brand that stands out in the market inspires employees to contribute in maintaining and enhancing the brand’s competitive advantage. Overall, branding inspires employees by instilling a sense of purpose, pride, belonging, direction, customer focus, and competitive differentiation, resulting in increased engagement, motivation, and commitment to the company’s success.

Who is Who | Christina Achilleos is an accomplished HR Officer with a passion for fostering a positive work environment and maximizing employee potential. With 4 years of experience in human resources management and talent acquisition, spanning the luxury and Fintech industries, she has honed a keen understanding of recruitment, employee relations, and talent development strategies. Christina holds a Master’s degree in Human Resources Management from the London School of Economics. Her background in Psychology, with a Bachelor’s degree, provides her with a nuanced insight into psychological theories and concepts beneficial in the corporate realm of HR. With strong interpersonal skills and a collaborative approach, Christina excels in building relationships with colleagues at all levels of the organization. She consistently endeavors to effectively communicate HR policies and procedures, providing guidance and support to both employees and management. As an HR Officer, Christina is driven by her commitment to creating a positive workplace culture where employees feel valued, motivated, and empowered to achieve their full potential.

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Valerijus Ovsianikas CEO, Tickmill Europe Ltd.

Embracing High-Performance Culture

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At Tickmill, our values guide us to cultivate a healthy corporate culture and uphold a high-quality standard in the workplace. We aim to create an atmosphere of transparency, honesty, integrity, and teamwork, where our people can feel motivated, valued, and fairly rewarded.

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What’s a successful business approach nowadays especially in the forex brokerage sector?

In his book “Principles”, renowned investor Ray Dalio, has outlined the fundamental principles that drive a successful business approach, and these have resonated deeply with me as they offer practical and actionable guidance for achieving personal as well as professional goals.

The main takeaway of the book is that finding the truth is the best way to make decisions, and that our ego, emotions, and blind spots will inevitably impede the discovery of the truth. Dalio presents his major strategies to overcome these weaknesses, including practicing total receptivity, extreme honesty and transparency, productive conflict, and credibility-centered decision making.

Following your principles is paramount, regardless of your area of work or your responsibilities in your company. You must determine what is acceptable for you in your daily work to achieve your final goals. This is also in line with the editor’s note in the first issue of fintechview magazine, which states that one of the critical elements for driving a business is having the right people and the right team in place. Here is principle number one: When you are building your team, you need to foster a strong corporate culture and an environment where employees feel inspired, motivated, and creative.

What is the company culture that Tickmill wants to promote?

At Tickmill, our values guide us to cultivate a healthy corporate culture and uphold a high-quality standard in the workplace. We aim to create an atmosphere of transparency, honesty, integrity, and teamwork, where our people can feel motivated, valued, and fairly rewarded.

Tickmill’s corporate culture is built on four fundamental pillars: TRANSPARENCY We practice openness by communicating openly, sharing information and knowledge, and building trust and strong bonds within our teams.

We implement an open-door policy by valuing team members’ opinions and contributions, ensuring their

Presenting

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Valerijus Ovsianikas CEO, Tickmill

22 efforts are recognized, and providing adequate support and feedback when needed.

We reject hierarchical thinking by treating every member of our team as equally important.

We facilitate ease of communication by allowing freedom to contact any member of the company through various communication channels (Slack, email, face-to-face).

HONESTY We hire honest, trustworthy, and reliable professionals.

We foster open communication and feedback by enabling direct and honest dialogue between departments and encouraging the exchange of diverse ideas. This way, we are able to identify and implement the best possible solutions.

We demonstrate accountability by ensuring all our employees are able accept responsibility for their actions.

INTEGRITY At Tickmill, we believe that integrity is inextricably linked with honesty.

We uphold integrity by adhering to the TM values, crafting a moral code of conduct, that is both individual and collective, for all our TM members to follow.

We respect our people’s culture and background and foster a culturally diverse company that supports diversity, equity, and inclusion.

SYNERGY We enhance synergy by collaborating to achieve a greater purpose (our departments and team members can work together seamlessly to complete a project, create a campaign, or organize a successful event).

Success is never a one-person job. It is always the collective efforts of a team that produce the best results. At Tickmill, we bolster creativity and productivity by empowering our people to collaborate, experiment, and exchange ideas so that they can achieve their common goals.

Since the inception of our company, our mission has been to provide the optimal environment for our traders and team members to grow and succeed in their endeavors. To accomplish this, we equip them with all the support, knowledge, and tools they need to achieve their objectives.

What does it mean for Tickmill to know/implement these values?

Our corporate culture is based on our core values, which serve as a moral compass for our employees and their daily interactions with other colleagues and clients. Our values – transparency, integrity, honesty, and synergy – guide us to work together towards a common objective and to respect one another as well as our clients.

Our values also inform our service to our clients. We practice transparency by sharing information about the company and our trading conditions, including our fair pricing structure with no hidden fees. We uphold integrity by following best practices in the industry and collaborating with regulators to provide the safest possible service. We demonstrate honesty by putting traders first and offering some of the best trading conditions in the industry. We enhance synergy by enabling our different departments to work together closely and flexibly to meet the ever-changing needs of the market and our traders.

At Tickmill, implementing and embodying our core values is of utmost importance to us. We inspire our employees to live by the TM values and apply them in everything they do. We consider it essential for all our 300 staff members to understand and embrace these principles as the bedrock of our business. At Tickmill, we believe that this continuous cultivation of our corporate culture is the key to our success.

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We inspire our employees to live by the TM values and apply

them in everything they do. We consider it essential for all our 300 staff members to understand and embrace these principles as the bedrock of our business. At Tickmill, we believe that this continuous cultivation of our corporate culture is the key to our success.

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How many years has Tickmill been in business, and what’s your long-term vision?

Tickmill was founded in 2014, and we’ve celebrated our 9th-anniversary this August. Despite our company’s relatively young age, Tickmill has enjoyed remarkable growth and success mainly due to the extensive experience of its top management team in the financial industry. They have managed to skillfully navigate a dynamic financial world and deliver a high-quality product.

Our long-term vision at Tickmill is to emerge as a global leading brokerage firm by utilizing our in-house technology across the entire value chain.

What is, in your opinion, the future of the forex industry, and how is Tickmill preparing for it (mentioning AI, new products, fintech, etc.)?

The forex industry is currently faced with numerous challenges, especially in the regulatory arena. The increasing complexity and diversity of the regulatory frameworks, requires forex brokers to constantly monitor and update their policies and procedures to align with the changing regulatory requirements and expectations across different jurisdictions. Tickmill is committed to complying with the regulatory frameworks across the different jurisdictions where it operates. Currently, we hold licenses across a number of different regions including CySEC in Cyprus, FCA in the UK, as well as licenses in South Africa, Labuan, and Dubai.

One of the primary challenges in the forex industry is automating various business processes to simplify complexity. With the integration of AI and other advanced tools, our capabilities for automation are ever evolving.

Moreover, the industry has become highly competitive, requiring sophisticated solutions in payment systems, lead generation, and more. This technological threshold can also create significant barriers for newcomers who may lack the required capital bandwidth to enter the fintech space. Looking to the future, the industry is also expected to undergo even further consolidation, much like what has occurred in the US, where only a few major players will dominate the market.

Currently, Tickmill is actively working on introducing its proprietary trading platform as the next step in its technological evolution.

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“

One of the primary challenges in the forex industry is automating

various business processes to simplify complexity. With the integration of AI and other advanced tools, our capabilities for automation are ever evolving.

”

Who is Who | Valerijus is a former staff member of Deloitte and Microsoft and has previously served as the CEO of Admiral Markets. He is currently the CEO of Tickmill Europe and a member of the Board, as well as the Chairman and one of the shareholders of Tickmill Group, where he brings over 40 years of valuable business experience. Valerijus has shared his business insights and approach in his 2008 book, “Forex 101,” as well as in numerous articles. His motto is to always do something in the best possible way or not do it at all.

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26

Philippe Ghanem Founder & CEO at SquaredFinancial

The Rise of Fintech Entrepreneurship & The Changing Landscape of Finance As the global economy is becoming increasingly digital, traditional financial institutions are facing unprecedented challenges, especially with today’s geopolitical and economic context. The rise of fintech entrepreneurship has disrupted the financial industry and is reshaping the way we think about banking, payments, lending, and investing.

Philippe Ghanem, Founder and CEO of SquaredFinancial, envisions a future where financial services build relationships grounded on trust and empathy and where innovative solutions propel financial inclusion.

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Looking back on my journey in the financial services industry, I can’t help but feel an overwhelming sense of gratitude and accomplishment. I’ve faced challenges, celebrated triumphs and learned invaluable lessons along the way.

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As a veteran in the FinTech industry, you have helped build financial institutions. Can you tell us a bit more?

In 2010, I co-founded ADS Securities, establishing it as a premier online brokerage firm serving both institutional and individual clients. I had a pivotal role in the growth and transformation of the company which was headquartered in Abu Dhabi, with offices in Singapore, London, and Hong Kong.

During this period, the Dublin-based SquaredFinancial continued to serve international white labels.

In 2022, I took the leadership, driven by a strong determination to steer my company through its upcoming developments. Since then, the company has revamped the financial landscape and the essence of investor experience. SquaredFinancial marks the beginning of an exhilarating mission to empower global investors and enhance their interactions with the capital market.

What are the pillars of your success?

One of the key aspects of fintech entrepreneurship is its ability to democratize access to finance. I strongly believe that innovation is fundamental to success. Traditional banks often have stringent requirements for opening accounts or obtaining loans, which can exclude a significant portion of the population, especially those in underserved communities. Fintech startups, on the other hand, are leveraging technology to lower barriers to entry and provide financial services to a broader customer base. Which is why SquaredFinancial extended its offerings, dedicated to meeting the diverse needs of traders to the global markets. Today, we find

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28 ourselves firmly on the path toward becoming a one-stop shop, diligently progressing towards the realization of our goal. Over the course of the past three years, we have successfully attracted significant investors and notable entrepreneurs to our endeavors. We have expanded exponentially into challenging countries and jurisdictions. We have increased our products threefold and integrated high technology and automation into our systems. We are strengthening our payment system starting with a Visa card, a card that a few brokers around the world offer. We are providing cutting-edge trading platforms and a state-of-the-art mobile application because we aspire to provide our traders with the flexibility to engage in diverse investment opportunities, enabling them to trade anytime and anywhere.

What we have achieved so far would not have been possible without our team, because it’s all about people: our clients who choose us as their long-term trading partner and who believe that we can help them grow and diversify their investments; our team who live and breathe the service they want to give to our customers, who share with us the same culture and are investing their knowledge and know-how to further grow SquaredFinancial and within it.

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Technology has always played a significant role in finance, but the recent advancements have allowed for the emergence of fintech startups that are challenging traditional players.

”

What role does technology play in the development of SquaredFinancial?

Technology has always played a significant role in finance, but the recent advancements have allowed for the emergence of fintech startups that are challenging traditional players. I am an advocate of highly sophisticated and evolving technologies, such as AI. We, at SquaredFinancial, have incorporated them into our solutions to provide unparalleled prospects for our clients. We leverage a combination of technology, financial expertise, and automation to optimize our service quality, and our latest mobile app update is an example. This update places a significant emphasis on security and user experience, all made possible through innovative robotics and automation processes.

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The digital age presents unprecedented opportunities for individuals and businesses to thrive in an ever-changing financial landscape.

”

What’s the future of Fintech entrepreneurship?

Looking back on my journey in the financial services industry, I can’t help but feel an overwhelming sense of gratitude and accomplishment. I’ve faced challenges, celebrated triumphs and learned invaluable lessons along the way. As technology continues to advance, fintech entrepreneurship is only expected to grow in the coming years and we can expect more innovative solutions to emerge. The digital age presents unprecedented opportunities for individuals and businesses to thrive in an ever-changing financial landscape.

Who is Who | Philippe Ghanem, a Swiss national, is a ‘C’ suite executive who is seen as an innovator and visionary in global financial markets. As an investor and an expert in trading a range of asset classes, he has developed a reputation for building financial services companies based on his insight and understanding of trading systems. Well-defined people management skills gained from 15 years of senior leadership and high-level management roles, with responsibility for over 300 employees across multiple international regulatory environments. He has a track record of building and maintaining the performance of teams to achieve financial and commercial goals. He has developed and launched a number of retail and institutional trading firms including the Abu Dhabi-based ADSS Group, where he was CEO and vice-chairman. In 2005, Philippe Ghanem and Georges Cohen co-founded the Dublin-based Squared Financial Services Limited. His departure from ADSS was announced on 25 June 2019. In 2020, Philippe Ghanem returned to SquaredFinancial to take the company through the next stage of its development. In 2021, SquaredFinancial reported a 266% growth in its volumes, along with a 200% increase in gross profits.

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The power in your hand Your gateway to opportunities sqfin.com

Trading carries risk.

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Ensuring Business Resilience: The Imperative of Cybersecurity in Today’s Digital Landscape

by Constantinos Papadamou , COO at eSafe Solutions Ltd In the continually advancing digital age, where businesses heavily rely on technology, the significance of cybersecurity cannot be overstated. Cybersecurity, a comprehensive term encompassing measures to protect computer systems, networks, and data from unauthorized access, attacks, and damage, goes beyond being a mere technical concern. It stands as a critical aspect of safeguarding valuable assets, maintaining customer trust, and ensuring uninterrupted operations. In this era of digital evolution, innovative and robust cybersecurity approaches are imperative, as traditional measures alone are no longer sufficient.

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The digital era has brought unprecedented opportunities for businesses, but it has also exposed them to an escalating threat landscape. Cybercriminals are growing more sophisticated, exploiting technological vulnerabilities to gain unauthorized access to sensitive information.

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The Escalating Threat Landscape of Cybercrime The digital era has brought unprecedented opportunities for businesses, but it has also exposed them to an escalating threat landscape. Cybercriminals are growing more sophisticated, exploiting technological vulnerabilities to gain unauthorized access to sensitive information. Alarming statistics reveal a consistent rise in cybercrime, with the speed of adversaries decreasing exponentially. Two years ago, it took an adversary about 98 minutes to achieve lateral movement, in 2022 went down to 84 minutes and year to date we see adversaries move at the velocity of 79 minutes. This means that your defenses have less than an hour and a half to detect the threat, respond and remediate. Other than the exploitation time the type of attacks constantly changes. In 2023 over 71% are malware free. No hosting place is more secure than the other (on premise or cloud). In 2023 there was a 95% increase in cloud exploitation. Cyber Security practices are a must to be applied not only for the on premise infrastructures but for the cloud ones.

This reduction in time, coupled with the evolving nature of attacks, underscores the urgent need for businesses to adopt modern and integrated cybersecurity solutions.

Safeguarding Valuable Assets Businesses, as repositories of sensitive data, including customer information, intellectual property, and financial records, face severe consequences in the event of a breach. To mitigate these risks, businesses must implement robust cybersecurity measures. Legacy solutions, such as traditional antivirus software, are no longer sufficient to counter advanced attackers. At eSafe Solutions, we continuously evaluate our cybersecurity portfolio to ensure its effectiveness against the latest threats. Modern and integrated security, along with a defense-in-depth approach, is crucial to minimizing risks.

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32 Navigating the Regulatory Landscape: PSD2, NIS2, and DORA In response to the escalation of cyber threats, governments and regulatory bodies have introduced legislation to enhance cybersecurity measures. Notable directives in the European Union include PSD2 (Payment Services Directive 2), NIS2 (Network and Information Systems Directive 2), and DORA (Digital Operational Resilience Act).

PSD2 Compliance: Aimed at securing electronic payments, PSD2 mandates businesses in the financial sector to implement strong customer authentication (SCA) measures and adopt secure communication protocols.

NIS2 Compliance: Focused on enhancing the overall cybersecurity posture of essential services and digital service providers, NIS2 requires companies to prioritize risk management, incident response planning, and reporting obligations. Unlike the small coverage of the initial NIS, NIS2 coverage is extended to many other business verticals. While both directives aim to enhance cybersecurity within the EU, NIS2 represents a significant evolution by expanding the scope of coverage, introducing stricter requirements, and promoting greater harmonization across member states. NIS2’s broader reach and heightened focus on cybersecurity resilience reflect the evolving nature of cyber threats and the increasing importance of digital services in today’s economy.

DORA Compliance: The Digital Operational Resilience Act establishes a comprehensive framework for ensuring the operational resilience of digital services, emphasizing risk management, incident response, and oversight of third-party dependencies.

Staying abreast of legislative changes is crucial for compliance. Adhering to PSD2, NIS2, and DORA not only ensures legal compliance but also strengthens the overall cybersecurity posture of businesses, helping them navigate the complex and evolving landscape of digital operations.

Companies subject to these directives need to act swiftly, as cybersecurity requirements necessitate time for implementation. With NIS2 becoming a legal requirement in October 2024, businesses must secure internal systems, protect external interfaces, and comply with risk management, reporting, and recovery measures to avoid fines of up to €10 million or 2% of annual global revenues. The impact of NIS2 will extend through supply chains, making cybersecurity a priority in procurement processes. eSafe Solutions, with 17 years of experience in Cyber Security, provides services to support companies in meeting directive obligations, ensuring solutions align with extended business strategies, especially as systems span multiple cloud environments and remote work continues.

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The rising tide of cybercrime necessitates a proactive approach to safeguarding valuable assets, maintaining customer trust, and ensuring regulatory compliance.

Businesses must invest in comprehensive cybersecurity strategies, including employee training, regular system updates, and strict access controls.

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Embracing Cybersecurity as a Business Priority In conclusion, cybersecurity transcends technical concerns to become a business imperative. The rising tide of cybercrime necessitates a proactive approach to safeguarding valuable assets, maintaining customer trust, and ensuring regulatory compliance. Businesses must invest in comprehensive cybersecurity strategies, including employee training, regular system updates, and strict access controls.

Moreover, staying abreast of legislative changes, such as PSD2, DORA, and NIS2, is crucial for compliance. Adhering to these regulations not only ensures legal compliance but also strengthens the overall cybersecurity posture of businesses. On the contrary, companies that are not obliged to follow those regulations does not mean that they will not be targeted.

In the dynamic digital landscape, the question is not whether a business will be targeted by cybercriminals but when. Prioritizing cybersecurity is not just a defensive measure; it’s a strategic decision that can safeguard the longevity and reputation of businesses in an increasingly interconnected world.

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Who is Who | Constantinos currently holds the COO position of eSafe Solutions Ltd. He started his career at Hellenic Bank as a Systems Analyst and gradually saved his position as an Enterprise Architect following various promotions in senior positions within Hellenic Bank.

He is an experienced manager leading technical and operation teams. Overseeing large projects, by controlling budget, activities and expected deliverables and acting as the technology lead. Currently focusing on Cyber Security, assisting companies to identify their Cyber Security risk areas and enable protection aligned to their business strategy. Enables the business leaders of the organizations to recognize that the responsibility for developing a strong security culture rests with everyone in the organization—from the top down. Targets to push organizations to adopt a cyber resilience culture by being cybersmart.

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Frixos Mozoras Technology & Business Development Director Securité One

The importance of workplace security

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Organizations can’t afford to let their guard down, instead, they must proactively anticipate threats in order to avoid them and ensure the safety and security of their business.At Securité One, we have carefully studied and focused on how such a dynamic working environment operates, so that we are able to serve our clients effectively.

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What is workplace security and why is it important?

Workplace security refers to the measures put in place to protect people, assets, and information from physical and digital threats. When thinking about workplace security, especially within sophisticated and complex environments such as the fintech sector, it’s important to ensure you have the right measures in place to guard against both physical and digital security threats.

Physical security involves the safeguarding of physical assets, such as employees, equipment, visitors, and office space.

On the flipside, digital security refers to the protection of data, information, ideas, and systems, vital to the success and integrity of your business.

Organizations can’t afford to let their guard down, instead, they must proactively anticipate threats in order to avoid them and ensure the safety and security of their business. This requires proper planning, tools, and teams. Fintech companies have a dynamic working environment, where collaborators, such as Securité One, must meet their standards of efficiency, quality, and unique needs. At Securité One, we have carefully studied and focused on how such a dynamic working environment operates, so that we are able to serve our clients effectively.

35 35 What are the needs today’s Fintech companies have with regards to security?

In today’s modern workplace, there’s a lot to protect. And not everything is evident to the untrained eye or easy to spot. That’s why security in the workplace starts with the right strategy both physically and digitally. The characteristics that a a security partner should understand in order to respond to today’s Fintech companies needs, include: • The size and fluctuation of the personnel according to the circumstances.

• The locations, both local and global, and the different security challenges and cultural practices in each region.

• The number and diversity of the departments with different working hours and schedules.

• The potential risks of internal threats from staff who may have access to sensitive information or be influenced by external groups.

• The presence and importance of on-site servers that support a large area or region.

• The division and usage of the office space by the same or different staff members.

• The variety and complexity of the office facilities, such as work areas, servers, warehouses, kitchens, dining areas, gyms, car parks, call centers, etc.

• The frequency and scope of the renovation and relocation of the premises.

• The possibility and impact of dissatisfied customers targeting the fintech companies.

• The high level of network security required to protect the data and systems.

• The number and responsibilities of the departments and their data access rights, such as the department of process ing of assets, department of purchases, head IT, IT security department, maintenance department, and director.

• The occurrence and nature of ad-hoc events and VIP invitees.

36 How can geopolitical crises affect such corporate environments with regards to security?

It’s a fact that geopolitical issues are affecting business and the economy in general. At the corporate environment level, we have observed throughout the years that when geopolitical issues occur, like for example the recent wars between Russia - Ukraine or Israel and Palestine, safety needs to be increased especially when there are conflicting interests due to financial and banking issues, employment cost effectiveness, or racist behavior from nationalist groups among employees.

Our responsibility is to act proactively when we observe any constant changes and replacement of staff in multinational organizations based in Cyprus, and to ensure that no organization or individual is targeted by other nationalist groups who may obtain information from staff already working in-house giving them an opportunity to cause data leaks or other damages.

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At the corporate environment level, we have observed through-

out the years that when geopolitical issues occur, like for example the recent wars between Russia - Ukraine or Israel and Palestine, safety needs to be increased especially when there are conflicting interests due to financial and banking issues, employment cost effectiveness, or racist behavior from nationalist groups among employees.

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What products/tools improve workplace security?

There are a number of efficient technologies out there to help you accomplish your security goals, but here are a few to get you started: Access control technology / It’s important to control building access to your offices. To achieve this, you need to invest in an access control system. Access control can come in different forms. Some of the most common access control systems you may be familiar with include badges, QR codes, facial recognition, or touch ID. For workplaces, access control means you can manage building security in one or all of your office locations. You can control who can enter your building and with what level of permission, giving you peace of mind that your people and property are secure.

Intruder & Fire Safety alarms / Installing sensors and alarms throughout the workplace can help detect potential security breaches.

For example, motion sensors can trigger an alarm if someone enters a restricted area, while smoke detectors can alert personnel to potential fires. By using sensors and alarms, you can quickly respond to security threats and prevent damage or theft.

Visitor management system / A visitor management system (VMS) verifies that only authorized visitors enter the workplace. It allows you to monitor who is on-site and when. To avoid any unwanted guests and security breaches, you can use your visitor management solution to screen visitors before they enter your office.

CCTV / CCTV is another technology that can help you monitor and secure your workplace. CCTV stands for closed-circuit television, which is a system of cameras and monitors that can record and display video footage of the premises. CCTV can help you deter and detect intruders, vandalism, theft, or other criminal activities. It can also help you gather evidence and identify suspects in case of a security breach.

What’s Securité One mission and vision?

Securité One applies modern security practices and methods to provide security solutions for dynamic working environments. We offer durability and trust in our services. Driven by expertise, communication, directness, our proud team, and 24-hour support, we deliver multi-level security services, including security system installations, security system services, patrols, and more.

Securité One was established to offer excellence and viable solutions to the contemporary security challenges of modern businesses operating within a fast-changing environment. Our experts have the knowledge and expertise required to address a wide range of security issues or any other physical threats.

Our ambition is to become and be recognized as the most trustworthy and reliable private security company across Europe, by implementing and offering the highest levels of security services within dynamic markets. At Securité One, we continuously expand our range of products and improve the quality of our services leveraging our client-first approach, and we are proud to deliver on our promises!

“Securité One applies modern security practices and methods to provide security solutions for dynamic working environments. We offer durability and trust in our services.”

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Who is Who | Frixos Mozoras is the Director of Technology and Business Development at Securité One, a leading provider of security solutions for dynamic working environments. He brings over a decade of hands-on experience in physical and technological security, as well as a certification in security training. He is also the founder and CEO of Securité One and has successfully launched several other security companies and training academies. He holds an MBA and a bachelor’s degree in Security Management. Headed by Frixos Mozoras and with offices based in Limassol, Securité One serves multinational organizations across Cyprus.

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Kypros Politis Cyber Security Architect - Team Lead

Cyber Security: A Year in Review, Major Attacks Recap & Trends in 2024

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Emerging trends include double-extortion, where attackers steal sensitive data before encrypting it, and triple-extortion, where they threaten to release data, sell it, or use it for other malicious purposes. Organizations should prepare by implementing robust backup and recovery plans, regularly updating and patching software, conducting employee training to recognize phishing attempts, and investing in advanced threat detection and response capabilities.

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What should businesses do proactively to defend themselves from cyber security assaults and incidents and limit their impact?

Online business and especially fintech should proactively defend against cyberattacks and limit their impact. Businesses should conduct regular cybersecurity risk assessments to identify vulnerabilities and threats. Prioritizing risks based on potential impact and likelihood is helping to develop a risk management strategy to mitigate and monitor identified risks. Staying compliant with cybersecurity regulations and finally ,businesses should define a cybersecurity strategy and roadmap which is essential for businesses to enhance their protection against cyber threats. By proactively taking these measures, organizations can significantly enhance their cybersecurity posture, reduce the risk of cyberattacks, and minimize the impact of incidents when they do occur. Remember that cybersecurity is a shared responsibility involving technology, processes, and people within any organization.

What is the significance of Zero Trust security in 2024, and how does it differ from traditional security models?

Zero Trust security is crucial in 2024 because it challenges the traditional security model of “trust but verify.” In a Zero Trust model, organizations never trust any user or device by default, even if they are inside the network perimeter. Instead, they continuously verify and authenticate users and devices, granting access on a least-privilege basis. This approach is essential because it acknowledges that threats can exist both outside and inside the network, making continuous verification and strict access controls critical for security.

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How are artificial intelligence and machine learning being used to enhance cybersecurity defenses?

Artificial intelligence (AI) and machine learning (ML) are playing a significant role in cybersecurity in 2024 and 2025. They are being used to analyze vast amounts of data and identify patterns indicative of cyber threats. AI and ML can automate threat detection, improve the accuracy of anomaly detection, and enhance incident response by providing real-time insights. These technologies also help in behavioral analysis to detect insider threats and advanced persistent threats that may evade traditional rule-based systems.

What are the emerging trends in ransomware attacks for 2024, and how can organizations better prepare against them?

In 2023, ransomware attacks continue to evolve with Research specialists (CPR*) reporting an 8% increase in global weekly cyberattacks in the second quarter, marking the highest volume in two years. Cybersecurity predictions for 2024 broadly fall into seven categories: Artificial Intelligence and Machine Learning; GPU farming; Supply chain and critical infrastructure attacks; cyber insurance; nation state; weaponized deepfake technology and phishing attacks. Emerging trends include double-extortion, where attackers steal sensitive data before encrypting it, and triple-extortion, where they threaten

40 to release data, sell it, or use it for other malicious purposes. Organizations should prepare by implementing robust backup and recovery plans, regularly updating and patching software, conducting employee training to recognize phishing attempts, and investing in advanced threat detection and response capabilities. *CPR: resource is Check Point Research With the increasing adoption of IoT devices, what are the main cybersecurity challenges organizations face in securing their IoT ecosystems in 2024?

IoT security is a critical concern in 2023 due to the proliferation of connected devices. Challenges include device vulnerabilities, lack of standard security protocols, and difficulties in patch management for IoT devices. Organizations must implement strong device authentication, network segmentation, and monitoring to protect against IoT-related threats. Additionally, they should consider the entire lifecycle of IoT devices, including secure provisioning and decommissioning.

Can you foresee how cyber security will develop in 2024?

We expect to see advancements in AI-driven cyber attacks and corresponding defenses. As technology evolves, so do the methods of those looking to exploit it. There will likely be increased emphasis on securing IoT devices, given their proliferation in various aspects of our lives. Quantum computing might also become

more prevalent, posing both opportunities and challenges for cybersecurity. Additionally , in terms of regulations, we might see more stringent data protection laws and cybersecurity standards globally. Governments and organizations will likely continue to invest in cybersecurity measures to protect sensitive information. Of course, these are just predictions, and the landscape can change rapidly. We all need to keep an eye on reputable tech and cybersecurity sources for the latest trends and advancements!

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In 2024 we expect to see advancements in AI-driven cyber attacks and corresponding defenses. As technology evolves, so do the methods of those looking to exploit it. There will likely be increased emphasis on securing IoT devices, given their proliferation in various aspects of our lives. Quantum computing might also become more prevalent, posing both opportunities and challenges for cybersecurity.

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Who is Who | Kypros, Cyber Security Architect - Team Lead at eSafe, has over 25 years of expertise in the field of IT and specializes in seamlessly combining network centric and data-centric controls. As an experienced Security Expert, he has a passion for developing powerful defense techniques. Kypros previously held the position of Associate Manager at the IT/Infrastructure Security Division at the Hellenic Bank for over 16 years.

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Klitos Platis Advocate and Partner at Kleanthous & Platis

AI at Work: The Need for Structured Legal Policies As generative AI technologies such as ChatGPT become integral to workplaces, Klitos Platis, advocate and partner at Kleanthous & Platis, explores the vital legal considerations and the broader impact of these technologies.

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The European Parliament’s recent approval of the AI Act, signals a significant shift in how businesses must approach generative AI in the workplace. The AI Act is designed to safeguard fundamental rights, democracy, the rule of law, and environmental sustainability against the risks posed by high-risk AI technologies, while simultaneously promoting innovation and establishing Europe as a global leader in AI development.

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How is generative AI being used in workplaces, and for what purposes?

Generative AI, particularly large language models (LLMs) like ChatGPT, is increasingly finding its way into workplaces, albeit in the early stages of formal adoption. Its applications range from document generation and internal communication to more complex tasks like coding and idea generation, transforming it into a vital tool for enhancing workplace productivity and innovation.

What are the key risks employers should consider when integrating Generative AI? Employers need to be cautious of several risks associated with generative AI: Security and Privacy: Data inputted into public LLMs could be vulnerable, raising data protection concerns.

Accuracy and Completeness: The technology’s probabilistic nature may lead to inaccuracies or incomplete outputs, potentially affecting decision-making processes.

Bias: Output from generative AI could reflect exising socetal biases, leading to discriminatory outcomes or content. Employers must carefully consider these challenges, draft and implement policies to safeguard data and ensure the responsible use of AI technologies to prevent discriminatory outcomes or inaccurate decision-making.

Is Implementing a Generative AI Policy Essential for EU Employers?

Absolutely. Given the widespread use and inherent risks of generative AI, establishing a comprehensive policy is crucial. Such a policy should detail acceptable use cases, define approved platforms, and set guidelines for data handling, content verification, and employee training, aiming to balance risk mitigation with the productivity benefits of AI tools.

What Employment-Related Claims Could Arise from the Misuse of Generative AI? Misuse of generative AI could lead to various employment-related claims in the EU, including: Claims related to bias and discrimination, if AI-generated decisions reflect systemic biases. Unfair dismissal or detrimen-

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44 tal treatment claims, if AI contributes to decision-making without adequate human oversight. Intellectual property infringement claims, if employees use AI to create content that violates third-party IP rights.

Following the European Parliament’s Adoption of the AI Act, How Should Businesses Prepare for Generative AI Integration?

A: The European Parliament’s recent approval of the AI Act, signals a significant shift in how businesses must approach generative AI in the workplace. The AI Act is designed to safeguard fundamental rights, democracy, the rule of law, and environmental sustainability against the risks posed by high-risk AI technologies, while simultaneously promoting innovation and establishing Europe as a global leader in AI development.

With the AI Act set to regulate AI applications based on their risk levels, businesses must align their AI strategies with the new legal framework. This involves conducting AI risk assessments, consulting legal experts, and ensuring AI deployments are transparent, equitable, and within the legal standards set by the EU, thus fostering a responsible AI ecosystem.

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AI is definitely the Legal Game Changer. Looking ahead, AI’s role in law is set to grow.

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What’s the Future of AI in Law? AI is definitely the Legal Game Changer. Looking ahead, AI’s role in law is set to grow. As AI technology becomes more sophisticated, its applications will likely extend to more complex tasks, offering even greater efficiency and effectiveness. At the same time, the legal profession will need to adapt, acquiring new skills and embracing a collaborative approach with technology.

The rise of AI presents an exciting opportunity for the legal profession in Cyprus and beyond. By embracing AI, law firms can transform their operations, offering better services to clients, and ensuring they remain competitive in a rapidly evolving legal landscape. Despite its many benefits, AI’s integration into the legal profession is not without challenges. Concerns around job displacement, data security, and ethical considerations remain. Lawyers and law firms need to ensure that AI use aligns with professional obligations and does not compromise client confidentiality or autonomy.

Who is Who | Klitos Platis, an Advocate, Legal Consultant, and Partner at Kleanthous & Platis, is primarily engaged in litigation, real estate, energy, and fintech. With a BSc in Economics and memberships in both the Bar of England & Wales - being part of the Honourable Society of the Inner Temple - and the Cyprus Bar, Klitos combines his legal knowledge with economic principles to provide holistic solutions. Beyond his practice, Klitos contributes to professional development as a trainer with the Human Resource Development Authority of Cyprus.

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Career Pieces of Advice from Successful Women in the FinTech space March is recognized as Women’s History Month. Women’s History Month highlights the unique contributions of women throughout history and contemporary society.

However you define success right now or in the near future, there are lessons to be learned from people who have gone before. To help you along your way, we’ve pulled together useful advice from successful career women, leading in the fintech space.

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What career advice would you give your younger self when starting out in the challenging world of fintech or to young women who wish to enter the sector?

Ugne Buracien, Group CEO at payabl.

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“My piece of advice is to find your voice. Don’t be intimidated by who is around you. If you know your stuff then share it with confidence. Knowledge is power and confidence is key. Also do not be afraid to make mistakes, if you are proactive – you are bound to fail sometimes, that is not a disadvantage – learning from your mistakes and bettering yourself is a great skillset to have.”

Daniela Egli, CEO at The Trading Pit “This is a great question! Here are some of my thoughts and tips, which I hope will help some women starting on their professional journey in fintech: Learn A LOT - acquire relevant knowledge and skills both on the job and outside of it (ie take different courses); hard and soft skills are equally important. However, aim to “ask the best questions” and not “know everything” - which is quite impossible. Asking the right questions can lead you to the best solutions, helps you “connect the dots”, fosters collaboration and invites different perspectives on the same matter leading to better outcomes. Network - connect with people in the industry in various roles, find a mentor who can help you navigate through challenging times. Stay true to your values and aim for roles and companies that meet these values . Be bold and assertive, avoid con-

47 stantly apologizing in a bid to be heard or be considered polite. At the same time, stay humble and appreciate the people around you as together with others you will be able to accomplish your professional goals”

Drosoula Hadjisavva, Chief Marketing Officer at SquaredFinancial “ It’s truly a challenging sector and my advice to young women aspiring to enter the sector, is to embrace the opportunities that take you out of your comfort zone and that you can learn from. Confidence comes from knowledge, knowledge comes from learning, and learning comes from personal initiative, your inner passion and love for what you do. Find your voice and never compromise your wants, become confident in presenting your authentic self. Authenticity garners respect and trust from others, allowing you to grow.”

Carla Nemr, Chief Business Development Officer MENA at Tickmill To all the women who aspire to pursue a career in the fintech world, I would suggest, first and foremost, staying up to date with the latest trends and developments, as this is a rapidly evolving industry. An excellent way to do that is to attend industry events, follow thought leaders on social media and connect with people in the industry to build your network and learn from others. Seek mentors, as they can help you navigate the industry and develop your career. Most importantly, though, be passionate, be curious, be confident.

Madalina Rotaru, CEO MENA at CAPEX There are several pieces of advice to consider. First, build a strong foundation of knowledge and skills in finance and technology. Pursue a degree in a related field and seek practical experience through internships or other opportunities. Additionally, stay updated with industry trends by closely monitoring the industry news daily. To succeed in this fast-evolving industry, working diligently and constantly improving and developing your skills is essential. It’s also advisable to follow as many field experts as possible who will provide valuable information to help you in your career.

Marilena Iakovou, Chief Marketing Officer at Doo Group “To young women who wish to enter the fintech world, I would advise them to be confident in their abilities, seek out mentors and role models, and be willing to take risks and try new things. I can attest to the fact that the industry is constantly evolving and there are many exciting opportunities available for those who are passionate about innovation and technology. By staying curious, learning from others, and being open to new experiences, young women can make a meaningful impact in the industry and achieve great success.”

Viktoria Soltez, Founder & CEO at PSP Angels Young women are very lucky as they are born to an age where they have the best possible opportunities in the history of humankind. Thanks to technological advances, the gender, colour and other personal differences seem to disappear (if you’re working from home the only performance indicator is your work other than your personal circumstances). My advice to everyone (not only women) is to take advantage of this amazing opportunity and embrace their dreams. I truly believe that every disadvantage can be turned into an advantage if used wisely, so we should dare to try new things, fail, learn and do it again. With this mindset, there is no failure, only a lesson.

Donna Stephenson, Founder & CEO Emerald Zebra Recruitment Agency “Having a mentor is a valuable experience. I encourage young women aspiring to enter the fintech sector in Cyprus to find mentors who can provide guidance, support, networks for opening doors to opportunities, valuable insights and to be a trusted confidant as you progress in your career.”

Vaida Saltenyte, Partnerships Head at Focused.io “I would like to emphasize two things. First, educate yourself as crazy. There is not enough time to consume all the knowledge there is so while self education is extremely important, building personal network is even more so. Educate and network (partying on friday nights does not count as networking) as much as possible. Find professional events that are interesting to you, joining local meetups, online webinars, online programs - invest in yourself. This will allow me to learn from other people and their experiences as well.

And secondly - find a mentor or few mentors. We cannot know everything about life or business and career when we start, so having people with whom you can talk about your ambitions and desires is crucial for your success - remember to build that support circle, it will be priceless. I wish someone had told me this when I was young.”

Georgia Aristeidou, Global Head of HR at The Trading Pit “I would say to invest in their skills and be engaged in a continuous learning process, either in informal type of education from employees and colleagues either via learning courses, workshops, seminars, etc in order to develop technical skills (regardless role or position) for understanding the fundamentals. In addition, one should be adaptable and creative, be open to new ideas, technologies and willing to embrace changes as it’s a fast-paced industry. Last but not least I would advise them to be passionate, persistent and committed to their goals and dreams. With determination and hard work, they can build a successful career in the exciting and dynamic field of fintech.”