There are a few common reasons why some Fintech companies fail or start heading to a downfall without realizing, and I’m going to be pointing out two of these mistakes. It can be very easy for a Fintech company to loose sight of some vital laws in the Fintech world due to consistent success over a long period of time.

While your plane is navigating the rough wind, some are getting ready to overcome the storm.
Mind you that every company wants to succeed as well, that’s why you need to always be ready to up your game whenever the need arise.
A Fintech company that have had a mouthful of success overtime can easily fall into these mistakes or even a company that is not so intentional in their approach.


One of the biggest reasons some Fintech companies fail is that their technology doesn't scale well. These companies often build their technology in-house, which can be a big challenge when their customer base is large and diverse. Having a technology that scales well is key if you are working towards a large customer base which is every Fintech company’s dream. These companies also need to be able to quickly adapt to changes in the market, but if their technology is not scalable, this can be very difficult.

Another common reason some Fintech companies fail is that their customer base isn't large or diverse enough. It’s one thing to have a technology that can scale well, it’s another thing to have a diverse and large customer base that is diverse. These companies often focus on a niche market, which can make it difficult to get a large customer base. I’m not saying it’s wrong to niche down even though I wouldn’t give such an advice, I’m only saying it’s going to take a lot more effort in getting a large customer base.

Additionally, these companies often don't have a wide distribution network, which can make it difficult to get their products into people's hands or get project works as well because they are focused on one or two services.

You might have probably read this as a programmer and you’re think, “okay, what does this have to do with me?” Well…., you might end up having your own company in the nearest future or even get the opportunity to work with a team of programmers in a company.

Getting a little knowledge on this for later because you never know what might happen tomorrow isn’t such a bad idea, right?

With this, I would like to say that it’s important as a company to always stay sober to avoid the downfalls that come with getting hit by the storm. The constant change and flexibility of technology is too magical to not always be updated and current with the latest.
A smart programmer knows how to adapt to these changes and grow, than stay and complain about it.

Hope this helps someone and I will see you on the next one!

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Thanks for reading