In this episode Peita shares the strategy of Avenue and their focus on a niche business banking product neglected by banks, the bank guarantee.
Avenue have digitised this paper process which takes up to 60 days to offer a bank guarantee in 24 hours!
We also talk about the challenges of dealing with regulators in the aftermath of failed digital banks Xinja and Volt, while also looking at the big successes like Judo.
Peita also shares her personal experience as we talk about the 'glass cliff'. Peita shares her own inspiring story of backing herself and taking on the CEO role at a very difficult time in the business.
I also get the chance to ask Peita about what I believe is the hardest part of being a scale up CEO, taking the reigns from founders whilst they remain in the business.
Finally I just want to say a MASSIVE well done to everyone involved in the Avenue journey. There is no tougher startup challenge than building a bank - it's the Everest of startup mountains to climb.
You can find out more about Avenue Bank and careers https://www.avenuebank.com.au/careers
Until the next episode, keep well!
Dexter.
