Market and credit risks are integral to money borrowing within the finance industry. Financial risks and money lending go hand-in-hand, raising questions on the viability of taking loans. With technology and innovation at the cornerstones, entrepreneurs are embarking on a journey of transforming the volatile scenario of the finance industry for good.
The entrepreneurial journey comes with ample risks that shape the vision and approach of an entrepreneur. And what can be riskier than dealing with finance? With the FinTech industry in the picture, entrepreneurs are delving into the world of finance and technology in their own unique way. Jay Modi has marked his entrepreneurial journey by smoothening the lending process for Canadians.
Jay sheds light on his and his team’s vision-
“We look forward to serving Canadians for many years to come as the world turns more towards digital means to accomplish what once was a manual and tedious process.”
Rising as an Entrepreneur
Jay Modi was born in London, United Kingdom, and later moved to Canada in 1997 at 14. His educational journey started at Western Canada High School in Calgary, Alberta, and ended at the University of Calgary. He preferred focusing on business over pursuing degrees, which he believes to be the best decision of his life. From household goods trading to a successful real estate venture, Jay tried his hands at a number of businesses.
His extensive professional career gave him a chance to live his dream of working on film projects. He even worked as an executive producer of a Hollywood film project, The Bronx and Bull. However, his career took a turn while he worked with some huge hedge funds of New York’s investment and asset management industry.
Inspired by his father’s skilled finance management and entrepreneurial experiences, he started his entrepreneurial journey with some pre-acquired business skills and knowledge. Jay is a bonafide fintech expert with diverse knowledge of finance technologies.
“I figured financial technology would help people better understand their financial lives as well as provide them with access to financial products online.”
Jay Modi on Finance Technology
Finance technology remained an area of interest for Jay since the beginning of his entrepreneurial journey. Understanding the advantageous aspects of finance technology, Jay embarked on a journey of transforming people’s financial lives. He believes in the power of artificial intelligence and its impact on the virtual finance industry. The introduction of online banking apps excited him, propelling him to the way of simplifying online lending for Canadians. “I think a lot of people were afraid of the concept of conducting their financial affairs online a decade ago, but now trust has been established.” Jay recognized this shift of customers towards online banking and conceptualized the idea of easing online lending. However, the loopholes in the financial regulation system worried him, compelling him to relax regulations in some financial areas in the future.
Leadership at a Glance
In Jay’s view, all successful leaders and entrepreneurs have a clear vision of their business. This is reflected in his leadership as well. As an inspiring leader, Jay follows a strong work ethic to step ahead of the market competition. He infuses this work ethic into his team members to motivate them to work hard. Jay’s leadership is highly driven by team-building and attracting new talents into the business. As a leader, he directed innovation into the finance business by relying on passionate individuals. He prefers a fun working environment as opposed to a strict hierarchical and formal one.
Jay believes one cannot do everything by oneself; leaders must learn to delegate. He understands the thin line between micromanaging and directing people toward a shared goal. As a business owner, Jay has exercised this ability to grow his business exponentially.
Secret Behind the Success
The secret behind Jay’s successful career is his smart business approach, driven by people’s perspectives. As a smart business leader, he learned from his past mistakes to bring change. Jay attributes his success to effective partnering. He believes partnering with the right people helps in building long-term business relationships. Jay came across affluent people and people with little wealth to realize the importance of having a positive mindset. Setting an example for other entrepreneurs is what drives him to succeed.
As an inspiring leader of the FinTech industry, Jay Modi believes that conventional banking will not change. Thus, the advancement of financial technology is inevitable.
Work-life Balancing for Leaders
As an entrepreneur, Jay emphasizes the importance of work-life balance for leaders and entrepreneurs. In his view, business takes up most of the attention and time of entrepreneurs, leaving them with an exhausting work-life. Hence, they need to take breaks to save themselves from overworking. Jay highlights the importance of getting into physical activities and spending family time to feel charged. Spending time with family and friends and going to the gym are some leisure activities that boost his energy to work. Jay also focuses on delegating tasks to other people to maintain a healthy work-life balance and eliminate mental fatigue. Taking little breaks on a daily basis is the key to work-life balance, as articulated by Jay.
Inspiring Entrepreneurs
In order to navigate the competitive business world, Jay has some priceless advice in store for entrepreneurs. The Fintech Award Winner advises new entrepreneurs to ensure they have a viable business idea appropriate for the marketplace. Jay enlightens novice players about the salience of partnering with investors before putting one’s money at stake. His take on AI as a disruptive technology in the Fintech sector is preparing business leaders for future digital transitions.
Jay’s approach in utilizing networking as an entrepreneurial tool is a pathbreaking idea for novice entrepreneurs to succeed in this highly competitive business world. He inspires future leaders to be proactive in building connections to explore opportunities with increased exposure. With his visionary leadership, Jay Modi has emerged as a trailblazer in the FinTech business. His personal website is a considerable contributor to the development of other FinTech trailblazers.
As these new technologies become more commonplace in the payments world, businesses will be well-suited to maximize efficiency and gain a competitive edge within their respective industries
