Chairing the Board - An Art and a Science

The Chairperson of a global fintech company needs to be adept at dealing with the ambiguity of an ever-changing business landscape. They are the voice of reason, the calm in the storm, and sometimes the protagonist in the drama that is the payments industry! These descriptions are particularly fitting of Brian Fox , board member of Cauridor and Chairman of our sister company, BnB Transfer Corp. Brian is an industry veteran who borrows deeply from more than a decade of senior leadership roles at Western Union and has been an integral part of the team since inception.

?????? ?????????????????????? ???????????????? ?????? ?????????????? ?????????????????????????? ???????? ?????? ???????? 10 ??????????, ?????? ?????? ???????? ???????????????? ?????? ???????????? ?????? ?????????? ???? ???? ???????? ?????????? ???????????

It may sound a little obvious but there is a lot of concern around profitability now that was not as concerning years ago. There was a time when the number of options available to the remittance consumer was very limited. Remittance companies needed to build out a network of agent locations in every counterparty country that they sent money to.? I actually worked with people who worked on building wireline connectivity in remote parts of Africa in order to activate agent locations there.? All that to say, remittances were hard in the old days and because of that, competition was not as rife. In 2024 almost every person on earth has numerous channels they can use for money transfer and this has opened the door to hundreds of remittance companies. And with more supply the customer has benefitted from lower prices. The challenge for the business leaders is finding the efficiencies to keep things profitable and ensuring we are investing behind initiatives that bring sustainable customer value.

???????? ?????? ?????? ?????? ?????????????????? ?????? ???????? ?????? ???? ?? ?????? ?????? ?????????? ?????????????????? ???????? ?????? ?????? ???????? ?????????????? ???? ?????? ???? ???????????? ???????????

I may be old fashioned but I think the core requirements for being a CEO have not changed. There are a few things that I feel are most important in a CEO. First is vision. The CEO must have a clear view of where the company is headed, short, medium and long term. That vision provides the key to know what needs to be done by the organization, once that vision is pushed out to the leadership team. Of course an important aspect of that vision that is sometimes forgotten is what the company will not be doing. And to balance that vision, the CEO has to be able to know which way the wind is blowing. A great vision is not much use if it takes the company in a bad direction. So some aspect of humility is required to know when to alter course and steer to a path of greater success. The insight about how to make things better may come from the lowest person on the org chart. A good CEO listens to the team! Once the clear vision is implemented and showing success, it is all about focus. It's not easy to build a money-making, on-going enterprise. Once you have one, I like what I call the "?????????????? ???????????? ???????????????? ??????????".? On the back of the bottle it says: "????????????, ??????????, ????????????". Keep doing those right things but always keep a finger in the air to know which way the wind is blowing.

?????? ???? ?????? ???????? ???? ???? ???????? ???? ???????????????? ????????????, ???????? ???? ???????? “????-????” ???????????????? ?????? ?????????????? ???? ???????? ?????? ???????? ???? ?????????????????? ???? ?????? ???????????????? ?????????????

I have always been something of an information junkie and there is the thing called the Internet that provides me with an endless supply! Kidding aside, since I am not in the day to day operations of the company I have the luxury of reading diverse sources of information about socio-economic conditions in the world, potential political instability, currency movements and technology changes or disruptions. There are friends from industry who contact me on occasion to ask for some advice and I pick up tidbits that way as well. Sometimes though it's as simple as a phone call from our CEO, with something encountered in our own business that gives us insights into a potential business risk. So the short answer is I source from anywhere to try and get an overview of the world.