Revolut Australia CEO Matt Baxby Interview: 1M Customers

Revolut Australia CEO Matt Baxby: From 3 Employees to 1 Million Customers and Profitability.

Revolut Australia CEO Matt Baxby has done what most Australian neobanks couldn't: reach 1 million customers and profitability. Six years after soft-launching with three employees during a global pandemic, the Revolut Australia CEO sits down with Dexter Cousins on Fintech Chatter to discuss the journey from travel FX startup to 30-product super app, the $250 million saved for Australians, and the ambition to become the country's number one finance app. More importantly, Matt Baxby reveals the hiring philosophy and culture that made it all possible.

This interview was recorded on 4 February 2026.

How Revolut Australia Reached 1 Million Customers and saved them $250M

Dexter Cousins: Matt, congratulations on a massive milestone. Let's start with the big news: Revolut Australia has just hit 1 million customers. Take us through what that means.

Matt Baxby: Thanks, Dexter. Yeah, we crossed 1 million customers at the end of January, which is a really proud moment for the team. But what's more meaningful to me is that we've saved Australians close to $250 million in FX fees compared to what the major banks charge. That demonstrates there's a real need for what we're offering in this market. When you can put that kind of money back in people's pockets, you know you're solving genuine problems.

DC: The awareness is certainly building. People are starting to understand there are alternatives to those airport FX desks, and Revolut is at the front of that pack. But you've evolved well beyond just travel money, haven't you? You're now offering 30 plus products.

MB: Absolutely. When we launched six years ago, the proposition was simple: bring together disparate financial solutions into one app. Things like overseas money transfer, bill splitting, peer-to-peer transfers. One of the key features from those early days that's still incredibly popular is the ability to transfer any currency directly to another Revolut customer in a different market. No friction, no cost, no waiting around for three days. That was the hook.

But you're right: we've expanded significantly. Today we're a modular platform. There's no set use case for our customers. Some people use us primarily for travel, others for everyday spending, some for investing in crypto or US shares. We build based on what customers tell us they need solved.

DC: That's interesting because as a Gen Xer maybe it's my eyes going, but the app is getting more complex to navigate with all those features. Is product proliferation becoming a challenge?

MB: [Laughs] Fair observation. Look, we're very aware of that, and it's something we're constantly working on. But I'd rather have that problem than the alternative: being too narrow in what we offer. The development continues to be driven by customer feedback. If enough customers are telling us they need something, we'll build it. That customer-first approach has been core to our success.

And here's the thing that keeps me confident we're on the right track: word-of-mouth referrals still represent a large proportion of our new customer acquisition. That's the highest compliment we can receive. When customers are actively recommending us to friends and family despite the complexity, it tells me we're delivering real value.

Revolut Business Australia: 235% Growth in Transaction Volumes

DC: Let's talk about Revolut Business. Small businesses are the backbone of the Australian economy, but they often feel overlooked by the major banks and even by many fintechs. What's happening there?

MB: Revolut Business has been incredible since we launched it in 2023. We've seen 235% growth in transaction volumes over just the last 12 months. The opportunity is massive because you're right: small businesses have been underserved for years.

The really exciting development is our new merchant acquiring product. We've just launched physical terminals and payment gateways through "Revolut Pay." What makes this powerful is we have a double-sided marketplace: a large consumer base who already have Revolut on their phones, and a rapidly growing small business base. When you can connect both sides, you create real network effects.

How Revolut Australia Succeeded Where Other Neobanks Failed

DC: That's a significant expansion beyond your core FX and payments business. Speaking of expansion, where are you with the APRA banking licence?

MB: The process is ongoing, and it remains very important to us. A banking licence enables services like interest-bearing savings accounts and broader credit products. It also provides government guarantees on deposits, which builds customer trust and gives us access to more sustainable long-term funding.

But here's what's critical: the lack of a licence hasn't constrained our product delivery or business growth. We've been very deliberate about that. We've continued shipping products, growing customers, and most importantly, we reached profitability in 2024. That's a very different path from other neobanks in Australia.

DC: Indeed. Most of the local neobanks either failed or were acquired before reaching profitability. What did Revolut do differently?

MB: Our strategy was fundamentally different from day one. We established a strong foothold in payments and foreign exchange first: areas where we could demonstrate clear value and actually make money. Then we expanded the product offering from that profitable base.

A lot of other neobanks tried to be full-service banks from the start, which meant massive infrastructure investment before they had meaningful revenue. They were burning capital trying to replicate everything the Big Four do, just with a better app interface. That's incredibly capital intensive and the unit economics don't work until you have massive scale.

We took a different approach. Build what customers need, prove the economics work, then expand. Stay lean, stay focused, stay profitable.

COVID-19 Pivot: How the Revolut Australia CEO Adapted in 2020

DC: Let's go back to the beginning. You joined Revolut in February 2020 as the first Australia CEO. You started with three people, then literally one month later, COVID hit and the world went into lockdown. What was going through your mind?

MB: [Laughs] Honestly? It was a significant inflection point, to put it mildly. Here we were with a travel-oriented FX proposition, and borders just… closed. Completely. For what ended up being over a year in Australia.

But looking back now, I'd say it was the best thing that could have happened to us. It forced us to think much more broadly and pivot into new opportunities immediately. We accelerated our plans for US share trading, we introduced cryptocurrency exposure, we focused on international e-commerce. All the things that didn't require getting on a plane.

That agility, that bias to action, is core to Revolut's culture. Our founders backed us to make those pivots quickly. We didn't spend six months doing market research and business cases. We identified the opportunity, built the product, shipped it, learned from it. That's how we survived and then thrived despite the pandemic.

Revolut Australia's Remote Work Culture: 100 Employees, Work From Anywhere

DC: You mentioned culture, and I want to dig into that because you've built teams at Virgin under Richard Branson, at Bank of Queensland, and now at Revolut. How do those experiences compare?

MB: They're all very different cultures, but there are principles I've carried through. At Virgin, I learned the power of entrepreneurialism and brand: what it means to genuinely put customers first and challenge incumbents. At BOQ, I learned the discipline of running a bank, dealing with regulators, managing risk at scale.

What I've adapted for Revolut is being very specific about what type of people succeed here. We're rigorous about hiring problem solvers: people who can think critically and exhibit a strong bias to action. We assess that through interview scenarios, not just by asking people to talk about their CV.

DC: Your recruitment process has a reputation for being thorough. And you're doing all of this with a "work from anywhere" policy, which is quite different from the banking norm.

MB: The remote working policy works because of the discipline and mindset of the people we hire. We have high expectations for performance, ambitious quarterly KPIs, and structured measurement. There's a misconception that you need people in an office to have performance oversight. What you actually need is clarity on objectives, rigorous measurement, and people who are self-motivated.

If you've hired properly — true problem solvers with a bias to action — it doesn't matter if they're working from a Sydney office or a beach in Byron Bay. They'll deliver. If you haven't hired properly, having them in an office won't fix that.

DC: You now have 100 people in Australia. When you're hiring, what are the absolute non-negotiables?

MB: Problem-solving ability and cultural fit around action. I'd rather have someone who can think critically, move fast, and figure things out than someone with a perfect CV who needs to be told exactly what to do.

We're also looking for people who are comfortable with ambiguity. Revolut is a founder-led organisation. Nick, our founder, sets ambitious goals without caveats. His goal for us is to be the number one app in the finance category in Australia. Not "number one neobank" or "number one among challengers." Number one, full stop. You need people who find that energising, not terrifying.

Revolut Australia CEO on Taking On the Big Four Banks

DC: That's quite an ambition when you're competing against the Big Four banks who control 80% of the market. After six years and 1 million customers, how's that battle going?

MB: We're bringing genuine competition to a market that's needed it for years. The Big Four have had it pretty comfortable: wide margins, suboptimal user experiences, business models built on customer apathy. We're changing that equation.

What's surprised me is how quickly Australians have embraced an alternative once they try it. The word-of-mouth growth I mentioned earlier: that's people voting with their wallets and their recommendations. That doesn't happen if you're just marginally better. It happens when you're delivering something genuinely different.

Are we number one yet? No. But every customer we win, every dollar we save them, every feature we ship: we're getting closer. And unlike some of our competitors who've fallen by the wayside, we're profitable and sustainable. We're in this for the long term.

DC: Looking forward, what's the vision for the next 3 to 5 years?

MB: All our actions, whether it's our F1 sponsorship, our product development, our marketing, are focused on that number one goal. We want to be the app Australians open every day to manage their money. All their money. Spending, saving, investing, borrowing.

We'll continue expanding our product suite based on customer needs. The banking licence, when it comes through, will unlock more capabilities. We'll keep investing in making the experience better, more intuitive, more valuable.

But fundamentally, it's about meeting Aussie consumer needs better than anyone else. That's been our mission from day one, and it won't change.

Revolut Australia Careers: How to Join the Team

DC: For people interested in joining this journey, where should they look?

MB: Head to revolut.com and check out our careers page. We've got live roles across product, engineering, operations, commercial, compliance: pretty much every function you'd expect. If you're someone who loves solving problems, moving fast, and making an impact, we'd love to hear from you.

DC: Matt, congratulations again on the milestone. It's been an incredible journey to watch, and I'm proud that Tier One People could play a part in it six years ago.

MB: Thanks, Dexter. And thanks to you and the Tier One People team. We couldn't have done it without finding the right people, and that partnership has been crucial to our success.

Revolut Australia has 1 million customers and 100 employees nationwide. The company is certified as a Great Place to Work in Australia and is actively hiring. For more information, visit revolut.com.

About Tier One People

Tier One People is Australia's leading fintech executive search firm. Six years ago, Tier One People placed Matt Baxby as Revolut Australia's founding CEO - a placement that has delivered 1 million customers, $250 million in savings for Australians, and a profitable, sustainable fintech business.

That's what happens when you find the 1% who define what's possible.If you're building a fintech team or looking for your next role in fintech, visit tieronepeople.com or connect with Dexter Cousins on LinkedIn.

How to use professional networks for job hunting.

Stop Networking Like Everyone Else (The 95-5 Principle)

Most people treat networking like fitness. They lie on the sofa for three years eating chips and drinking beers, watching sport instead of playing it. Then they wake up one day, realize they've gained 20kg professionally, and can't climb the career stairs anymore.

Sound familiar?

You go three years without talking to anyone in your network. Then you panic. Coffee meetings everywhere. LinkedIn messages flying. Desperate energy everywhere.

Here's the problem: You wouldn't train for a marathon by doing nothing for three years, then running 100km the week before the race. Your network works the same way.

The 95-5 Principle

When I launched Tier One People 10 years ago, I had 5,000 contacts in my database. Most people would email all 5,000. Spray and pray.

I did something different.

I filtered that list down to 98 people using a specific method. That was my critical 5%.

Those 98 people generated over 95% of my business results in the first year.

Here's the truth: 95% of your results will come from 5% of your network.

Not 10%. Not 20%. Five percent.

How to Find Your Critical 5%

Break your network into three tiers:

Tier 1: Former bosses and colleagues who are now in hiring positions. People who know what it's like to work with you and can now make hiring decisions.

Tier 2: People with massive networks. Clients, law firm partners, investors, VCs, board members. People whose job is knowing other people.

Tier 3: Everyone else.

Your critical 5% is Tier 1 plus Tier 2. That's your focus.

The Message That Actually Works

Here's what everyone else writes:

"Hi X, how are you? Not sure if you heard but I was made redundant the other day. I'm on the market and I've attached my CV. Would love to catch up for a coffee, my shout."

See the problem? You're leading with your need. You're asking for too much. And you're valuing their time at the price of a flat white.

Here's what works:

"I'm thinking about a few possible career paths and as someone I highly rate and whose opinion I trust, I wondered if you had two minutes to chat. I know you won't sugarcoat things."

Two minutes. Not coffee. Not lunch. Not a job.

Two minutes is incredibly hard to say no to.

The Psychology That Makes It Work

When you ask people for two minutes, they ask you for coffee.

When you ask them for their honest opinion, they give it. I've never met a single person who didn't enjoy telling me what they really thought.

But here's where the magic happens:

As soon as someone says "I think you should do X," they feel responsible for helping you do it. And they follow up with "Let me introduce you to Y."

Now you get another meeting with an influential person who could hire you. And you arrive pre-endorsed.

This is the compound effect. One conversation generates 1-2 warm introductions. Those introductions generate more conversations. Those conversations generate opportunities.

When I sent my two-minute message to 98 people, I had 60 meetings confirmed within 3 days. That's a 61% response rate.

Not because I'm special. Because the message made it easy to say yes. And because I focused on my critical 5%.

The Trust Shortcut

Years ago, I watched a sales rep push past me at a networking event and try to force his business card on a CEO. She calmly put her hands behind her back and said:

"You don't need to give me that. What you need to do is get someone I know and trust to give it to me."

That taught me everything about networking.

Stop trying to build trust from scratch with cold emails and forced connections. That takes months or years.

Instead, leverage the relationships you already have. When your former boss introduces you to their colleague, you don't start at zero. You start at 50%. You borrow their trust, their credibility, their relationship capital.

That's why warm introductions are 10 times more powerful than cold outreach.

Start Today

Your critical 5% might be 10 people. It might be 50. It might be 200. The number doesn't matter.

What matters is this: Stop trying to network with everyone. Start identifying your critical 5%.

Better contacts beat more contacts every single time.

Listen to the full episode for the complete T1/T2/T3 framework, exact email templates, and the two-minute call structure that turns conversations into opportunities.

Download the Network Activation Worksheet with email templates, conversation scripts, and tracking tools.

Fintech Jobs: And How To Find Them.

Finding Your Next Role in Fintech - Episode 1

If you're struggling to land a job in fintech here in Australia, you're probably approaching it the wrong way.

Most people searching for fintech jobs treat the hiring process like they're applying for permission to work. They craft the perfect resume, polish their LinkedIn profile, and hope someone notices them among hundreds of other applicants. But here's the uncomfortable truth: in today's competitive fintech job market where candidates need an average of 294 applications to secure employment, being "qualified" isn't enough anymore.

It's time to stop looking for happiness and start solving problems.

The Career Balance Sheet Framework for Fintech Jobs

In Episode 1 of our new video series, Finding Your Next Role in Fintech, we introduce a framework that flips the traditional fintech job search on its head: the Career Balance Sheet.

Just like a company's balance sheet shows assets and liabilities, your Career Balance Sheet demonstrates the tangible value you've created throughout your career. But instead of listing job duties and responsibilities, you're documenting concrete problems you've solved and quantifying the value you've delivered.

This isn't about exaggeration or spin. It's about recognising that every role you've held, every project you've completed, and every challenge you've overcome has created measurable value for someone. Your job is to articulate it clearly.

Why This Changes Everything When Applying for roles in Fintech

When you position yourself as a problem-solver rather than just another applicant in the fintech jobs market, three things happen:

  1. You stand out immediately. While other candidates applying for fintech jobs are saying "I have 5 years of experience in payments," you're saying "I reduced payment processing failures by 40%, saving $1.2M annually."
  2. You speak the language of business. Fintech executives don't hire people for credentials, they hire solutions to their problems. When you demonstrate that you understand their challenges and have solved similar ones before, you're no longer competing on qualifications alone in the fintech job market.
  3. You build confidence. Searching for fintech jobs can be demoralising, especially when you're facing rejection after rejection. But when you take inventory of the real value you've created, you remember what you're capable of and that confidence shows up in every interview.

Real Examples of Career Balance Sheets for Fintech Roles

In the episode, we walk through four detailed examples across different fintech roles. These real-world scenarios show how professionals in various fintech jobs have documented their value:

The AI Implementation (Risk & Compliance)

The Regulatory Framework (Compliance Leadership)

The Strategic Sale (Business Development)

The Product Acceleration (Operations/Product)

Each example demonstrates a simple but powerful formula: Problem + Solution + Quantified Value = Your Competitive Advantage

Types of Fintech Jobs This Framework Works For

This Career Balance Sheet approach works across all fintech jobs, including:

No matter what type of fintech job you're pursuing, documenting your value creation is what sets you apart from other candidates.

Building Your Own Career Balance Sheet

Ready to document your value? We've created a free Career Balance Sheet worksheet to guide you through the process.

The worksheet helps you:

Download the Career Balance Sheet Worksheet (Free PDF)

Why This Matters for Fintech Jobs in 2025

In 2025, fintech jobs in Australia have become more competitive than ever. With sustained economic pressures and increased application volumes, standing out in the fintech job market requires more than just qualifications, it requires proof of how much value you create.

The candidates getting hired aren't necessarily the most experienced. They're the ones who can clearly articulate the problems they solve and the value they create. This approach gives you a competitive edge.

Understanding what fintech employers are really looking for (problem-solvers who can demonstrate measurable impact) is the key to landing your next fintech role.

Watch the Full Episode

This blog post only scratches the surface of what we cover in Episode 1. In the full video, we walk through:

About This Series

Finding Your Next Role in Fintech is a 5-part video series that applies business methodologies like first principles thinking, lean startup, design thinking, enterprise software sales frameworks and go-to-market strategies to your Fintech Job Search. Whether you're pursuing permanent roles or exploring fractional opportunities, this series will transform how you approach the fintech job market.

Coming Soon:

Looking for Fintech Jobs in Australia?

At Tier One People, we specialise in connecting exceptional fintech talent with financial technology companies across Australia and globally. Whether you're searching for fintech jobs in risk management, compliance, payments, lending, or business development, we understand what employers are looking for.

If you're ready to position yourself as a problem-solver rather than just another applicant in the fintech job market, we'd love to connect.

Explore Fintech Jobs | Subscribe to Our Newsletter

Dexter Cousins is Managing Director of Tier One People and host of the Fintech Chatter Podcast. With over 25 years in recruitment, he works at the intersection of AI and fintech, helping shape Australia's position in the global fintech ecosystem.

Frequently Asked Questions About Fintech Jobs

How hard is it to find a job in Fintech in Australia right now?
Fintech jobs in Australia are highly competitive in 2024-2025, with candidates needing an average of 37 applications to secure employment. The market has seen increased application volumes due to economic pressures, making it essential to differentiate yourself through proven value creation rather than just qualifications.

What skills do employers look for in fintech jobs?
Fintech employers prioritise problem-solving abilities and measurable business impact over credentials alone. They look for candidates who can demonstrate how they've created value through cost savings, revenue generation, risk mitigation, or process improvements in previous roles.

How can I stand out when applying for fintech jobs?
Use the Career Balance Sheet framework to document specific problems you've solved and quantify the value you've created. Instead of listing job duties, show concrete results like "reduced compliance processing time by 85%" or "generated $20M in new ARR."

Are there remote fintech jobs available in Australia?
Yes, many fintech companies across Australia now offer remote and hybrid fintech jobs, especially in technology, compliance, and business development roles. The Career Balance Sheet approach works equally well for remote fintech positions.

What types of fintech jobs are most in-demand?
Currently, high-demand fintech jobs in Australia include compliance and risk management specialists, AI/ML engineers, payments specialists, business development professionals, and product managers with fintech experience.

Fintech Job Market Advice With Claire Alexander

Dexter Cousins is joined by Claire Alexander, founder of Coach Claire. She's here to share her secrets on how to navigate the fintech job market. 

About Claire Alexander

Claire is a Global HR and Tech Talent Executive, Career Coach and ex-Employment Lawyer. She's also the founder of Thinktechstartup, an HR advisory business supporting tech startups turning into tech scaleups. Claire was previously Global Head of talent for Fintech unicorn Zip.

A Break Down of the current Fintech Job Market

Claire shares her top tips on how to stand out in the job hunt, from engaging with potential employers online to the power of networking. We'll also be breaking down the pros and cons of LinkedIn's 'Open to Work' badges, the role of recruiters, and the art of approaching companies strategically. 

But that's not all. We're also addressing the tricky path of job applications and interviews. How do you follow-up without annoying recruiters? How do you handle rejection? And, most importantly, how do you determine your worth when evaluating a job offer? 

With Claire's expert advice, we discuss how understanding your motivations for wanting a job can aid in salary negotiation. This episode is an absolute treasure trove of practical, actionable advice – don't miss out!

121: Stake - Dan Silver

In episode 121 of Fintech Chatter Podcast, Dexter Cousins chats to Dan Silver, COO and co-founder of Stake. 

What is Stake App?

Stake is a share trading app launched in July 2017 by Matt Leibowitz and Dan Silver with the ambition to open up Wall St to the world.

Since launching, Stake has amassed over 450,000 customers across Australia, New Zealand, the UK and Brazil by spearheading commission-free brokerage.

The Stake App offers investors access to over 8,000 stocks across the US and ASX markets through a sophisticated and seamless platform.

Stake has grown to 135 staff and is booking $20 million in revenue a year. Stake recently completed its $90 million Series A funding from Tiger Global and DST Global Partners.

Dexter chats to Dan about his experience of giving up a corporate career and launching his own business. Dan shares his lessons on scaling, leadership, resilience, global expansion, bootstrapping and capital raising.

Check out the Stake Platform

Check out jobs at Stake


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About Tier One People

100: Brett King Rise of Technosocialism

We've got a very special episode to celebrate episode 100 of Fintech Chatter Podcast.

And to commemorate such an occasion Dexter Cousins is joined by the Godfather of Fintech, Brett King.

In today’s show, Brett talks about his new book, Co-Authored with Dr Richard Petty The Rise of Technosocialism

The book examines how the 21st century is going to be the most disruptive, contentious period humanity has ever lived through. 

Our most sacred ideologies around politics, economics and social constructs are being challenged, Brett and Richard explore how technology can be a force for good and create an advanced and fair society. 

Tune in for a fascinating discussion on

Make sure you listen to the end to be in with a chance to win a signed copy of The Rise of Techosocialism.

For more info on the book and to pick up a copy go to - https://riseoftechnosocialism.com/

Author Brett King

Brett King is a world-renowned entrepreneur, futurist, speaker, international bestselling author, and media personality. 

China’s President Xi Jinping cited his book Augmented: Life in the Smart Lane on the topic of Artificial Intelligence in his 2018 national address; the same book that was listed as a Top 10 non-fiction book in North America. 

In 2019 his book Bank 4.0 was awarded the Top Book by a Foreign Author in Russia for that year.

In 2020 King was inducted into the Fintech Hall of Fame by CB Insights. In 2015 he was shortlisted for the Advance Global Australian of the Year Award. 

His books have been released in over a dozen languages. Banking Exchange magazine dubbed him the “King of Disruptors”, while The Australian newspaper in Australia called him the “Godfather of Fintech”.

Author Dr Richard Petty

Dr Richard Petty is a government policy advisor, entrepreneur and awarded academic. Based in Hong Kong, Richard has lived and worked in Greater China since the 1990’s. 

He is a past Chairman of the Australian Chamber of Commerce Hong Kong & Macau and CPA Australia, and is founding Vice Chairman, Hong Kong ASEAN Economic Cooperation Foundation.

Richard sits on the board of listed companies in the United States and Australia, has advised on projects with an aggregate economic impact in the hundreds of billions of dollars, and has led reviews of several economies and studies on economic competitiveness in several countries.

Mobiquity appoints Gus Quiroga as VP APAC.

Tier One People supports the launch of another world-class company in Australia.

Mobiquity, a full-service digital transformation enabler, announced its expansion into Asia-Pacific with the appointment of former Microsoft and IBM Watson Director, Gustavo Quiroga, as Vice President of Business Development Financial Services, APAC.

Tier One People were behind the hire, cementing our position as the go-to executive search company for world-class Fintech companies launching in the region.

Acting as advisors and executive search partners to Mobiquity, it took just four weeks to complete the search and appointment of the APAC Regional Director for financial services.

It takes Tier One People to build world-class Fintech companies.

Commenting on the announcement, Gustavo said: “I’m delighted to join Mobiquity and support the company’s rapid expansion across the Asia-Pacific region.

“I joined Mobiquity to develop, design and implement digital products and services that create meaningful experiences with customers. Giving customers a ‘Wow’ moment is what drives me, and I look forward to using my expertise to develop partnerships where we can achieve this every day.”

Matthew Williamson, Vice President of Global Financial Services, Mobiquity said: “Our appointment of Gustavo demonstrates Mobiquity’s commitment to hiring an A-list team of talent that has far-reaching industry expertise.

Expect additional announcements over the coming weeks as we help Mobiquity build a world-class team of tier-one people. Mobiquity has secured Adrian Nowell from Digizoo. Adrian was instrumental in building Aussie Smart Bank, 86 400 from idea to a pioneering digital bank in record time.

You can read the full article in Finextra

Looking to launch in Australia? Speak to the experts. We've helped Revolut, TrueLayer, 10x and many others launch successfully in Australia. - Contact Dexter Cousins for a confidential discussion.

Do you need a resume?

We live in a digital world - yet many of the processes and systems we use are stuck in an analog world. None more so than recruitment. Despite rapid technological advances this century, the process of hiring has remained largely unchanged over the last 100 years. No part of the hiring process causes more debate than the resume.

How many pages should a resume be? 

This is a question I am asked every day. And everyone has their own answer.

Many people are even questioning if we need resumes at all.

You may think of the resume as a record of work so why bother when we have LinkedIn?

But the origins of the resume were as much a marketing tool as a record of work. 

So where did the resume originate?

In 1482, a 30-year-old Leonardo Da Vinci wanted to work in the city of Milan as a town planner/architect. So he sent a letter to the Regent of Milan, outlining his skills and experience.

The resume was born!

Leonardo Da Vinci's resume in 1498

At the time of Da Vinci, there were obviously no job boards, no recruitment agencies, no LinkedIn, no internet, no video, no phones. 

LDV didn't even have a job he could apply to. So how did he pique the interest of the Regent enough to get a job? 

Here’s the clever thing LDV did with his resume. Rather than just list the things he had done, he listed 11 ways he could improve the city of Milan with examples to back it up. 

Marketing 101 - Identify a problem, present a solution and describe the value it creates.

So not only was Leonardo Da Vinci a supremely talented innovator, engineer and artist, he was also a highly gifted marketer!

The big problem with resumes

The regent of Milan didn't receive hundreds of resumes. He only received one and it was unique!

Today your resume is amongst millions being submitted to job boards and recruitment agencies on a daily basis.

A 2018 study revealed recruiters take on average 7.4 seconds to decide if you are a fit or not.

How do you get your expertise across in a few pages in just 7.4 seconds? Clickbait?

Not quite but if you look at the science behind a clickbait headline it is there to draw the reader in. Then provide more detailed information.

So should your resume be more like a landing page?

We are at the beginning of the data/digital revolution

Now is the time to innovate, ditch the resume, get with the program and stop relying on a tool that’s over 500 years old.

But everyone demands a resume I hear you say. Of course, they do.

At the time, the only medium LDV had available to showcase his skills and expertise was writing.

But you have video, podcasts, blogs, websites, GitHub, Twitter, LinkedIn, Instagram, Club House, Newsletters. The list of possibilities to convey your skills and expertise is endless!

So how would Da Vinci market himself today🤔

If Da Vinci followed conventional advice, he'd spend months trying to figure out how to distil his vast experience into two or three pages.

Here’s a few things I think LDV would do to market himself in 2021.

Is this a lot of work? Absolutely!

And it should be. If you think of yourself as a business is it acceptable the only way you would promote your business is through a 3 or 4-page brochure? Do companies even have brochures today?

If you are struggling to get all of your experience into a resume, that’s because it is impossible.

Remember we are in the data/digital age. A written 3-page document holds less than a megabyte of information. A video file contains hundreds of megabytes!

Instead of ‘A picture paints a thousand words’ - ‘A video paints a billion words’

If you don't think this is relevant just look on LinkedIn and Twitter and you will see the competition you are up against. There are people creating a personal brand and doing a great job of marketing themselves. To the extent that the work comes to them.

So do you still need a resume?

Yes, you do need a resume, but only as part of a multi-channel marketing strategy.

The debate around resumes concerns me. It seems the vast majority of the workforce believes they hold no responsibility for conveying relevant information in ways that clearly articulate their value to a prospective employer or client.

And it causes me even greater concern when writing a resume is outsourced to a resume writing service. No one can or should do a better job of communicating your expertise and experience.

Would you agree that your ability to present and communicate effectively with words is a critical component of your daily work?

With most of the world operating remotely, it has become more important than ever that our writing skills are up to the task.

One final thing + a free resume template

The resume was designed for A4 paper. But most people will read your resume on a laptop screen or smartphone (we have the data to back this up)

The A4 format actually works quite well for a smartphone - if you keep the formatting simple.

At Tier one People we’ve put together our design know-how coupled with data to create an optimised one-pager resume. The only thing that is missing is your clickbait headline!

You can download the one-pager for free.

66: Limepay - Careers Special, Claire Alexander

Dexter Cousins ushers in 2021 and season 3 of the FinTech Australia Podcast with Claire Alexander, Head of People at Limepay. 

In this special show Dexter fields questions from you, the listeners, on Fintech career advice.

Tune in as Claire and Dexter discuss which skills are in demand, which skills you should focus on developing, what stage a Fintech will hire specialists over generalists and how to position yourself when applying to roles in Fintech.

They also share insights on resumes, cover letters and how to work best with recruiters. As well as covering one or two career dilemmas.

Find out more about Limepay at https://limepay.com.au

About Claire: Claire has extensive experience in talent acquisition, HR strategy & transformation and coaching. Combined with her passion to build start-ups, Claire also has a coaching business that supports her clients to achieve their career goals using simple strategies and NLP frameworks. 

Since arriving in Australia Claire has spent the last 10+ years in the talent acquisition and HR space.  More recently she supported Zip Co to expand globally as their Global Head of Talent and Organisational Design.

Claire is now helping to scale Limepay, an upcoming Fintech set for rapid growth over the next 12 months. 

Follow Claire on LinkedIn 

Fintech Career Advice

Fintech is soooooo hot right now and judging by the amount of enquiries we get at Tier One People, it feels like everyone wants to work in Fintech.

Fintech isn't for everyone. Here are five questions we recommend asking yourself to find out if Fintech is for you.


1. Are you ready to join a Fintech Startup?

What is a startup? Everyone has their own definition. At Tier One People we have identified distinct phases of growth in a Fintech startup. It is important to make the distinctions as each phase is in effect a completely different business.

We have created some typical profiles to give context.

Startup Fintech.

Usually 1 - 50 people with minimal funding or bootstrapped (self-funded). Generating some revenue but not much. Likely to still be working out of a coworking space or innovation hub. The business is still at a volatile stage and uncertainty remains around long-term success.

Scaleup Fintech.

Typically 50 - 300 people big. Likely to be well funded or listed and generating significant revenue. Moving out of startup and starting to become an enterprise. A mix of the founding team and new hires coming from more corporate backgrounds. Potential to hit Unicorn status.

Blitz Scale Fintech.

300 people plus, going global and hiring at a huge rate. Now way past unicorn status. HUGE investors onboard. Examples Revolut, N26, Klarna, Afterpay.

The secret to success when joining a Fintech is to get on board when your skills and experience can make the most impact. When we do see hiring fail it's usually not because the wrong person was hired. But the right person is hired at the wrong time.

Fintech Startup Hiring Tips

2. What is your risk profile?

Have a mortgage or family commitments? You may want to think about joining a business in blitz scale mode. There is likely a lot more security and a higher base salary can be offered with some ESOP. But you have probably missed out on the opportunity to become a millionaire!

Can you take one or two risks financially if the role doesn't work out? Maybe you are not quite sure if you can adapt to the demands of a startup. Try a scale up.

If you are slightly bonkers, can handle flexible working ie working 24:7 thrive on uncertainty, fear, challenge and building a legacy while not getting paid much then a startup might be right for you.

3. What do you offer?

Most people think that Fintechs are one huge innovation lab where people ride round on skateboards dreaming up how to use blockchain to solve world hunger. 

In reality most Fintech are struggling just to stay alive. If you are dreaming of bringing killer ideas and strategising all day long, forget it.  Having ideas and making ideas happen are very different. In a Fintech you need to bring relevant skills to the table and demonstrate where you can execute on the vision with minimal resources.

4. Who do you know?

Most Fintechs started out by hiring mates or mates of mates. It stands to reason that when it is your business you want to hire people you can trust to deliver.

75% of the Tier One People network will find their next role through a direct contact. If you don’t have any friends in Fintech then you need to make some.

5. How much do you love Fintech?

I am constantly amazed by people who tell me they are passionate about Fintech, yet know nothing about the sector. At Tier One People we live and breath Fintech. But we have to work hard to keep building our profile and build our knowledge base. Meetups and industry events are a great way to get started if you need to gain knowledge and meet people.

Fintech is a tight-knit community and you will find many members are quite accessible when you contribute to the community in a positive way. 


FinTech Talent Hot Spots in 2019

 2019 is shaping up to be a HUGE year for FinTech in Australia. But where is all the FinTech Talent to help you grow your business?

Together with our partners, clients and good old market research we have compiled a list of the most in demand skills. FinTech startups can’t match the salaries of well capitalised businesses and often struggle to hire the talent they need. We have excluded startup data from our research and have focussed on companies series A and beyond.

Sales Directors.

Banking and Financial Services Software companies have big plans in 2019. Established banks will look to defend their position as Australia goes Neo Bank crazy. Large international players now see Australia as a major strategic play as open banking puts Australia on the map for innovation.

New banks means new clients requiring core banking systems, lending platforms, security, CRM, Analytics. An endless list!

Sadly, there is a serious lack of sales talent out there. Expect to pay $180,000 as a base salary for anyone with 5 years-experience enterprise software/SaaS sales. But don’t expect too much in return for your money. Most sales people change companies every 12 – 18 months. In an environment where deals can take anywhere from 6 -18 months to complete, even at $180,000 you won’t get a deal closer.

If you are looking to grow your FinTech business by hiring someone who can close deals with Banks and Financial Institutions, expect to fork out $220,000 plus bonus, benefits and LTI, if you want to see results. Take a look at this advert as an example.

Head of Partnerships.

FinTech’s with a B2B or B2B2C model require Account Directors who can win new business and act as the link between the tech team and client. So, they created the Head of Partnerships role.

Part Business Development, part Account Management, to secure the best people for this type of role you are looking $180,000 - $200,000 plus bonuses/benefits.

As this is a fairly new role to the Australian market, talent from advertising and media agencies can often present the best skills match. Alternatively we find talent from the US and UK are accustomed to this model and will often make the best hires.

Chief Growth Officer.

Are the days of the CMO numbered, a slow death by 1000 (job) cuts? Marketing today is all about growth - ROI and the numbers don’t lie!

Sales and Marketing, especially in B2B models is returning back to its origins, one integrated and seamless function. The revenue generating engine room of the business. The challenge lies in finding people with a broad base of experience, that encompasses Product, Sales Pipeline, Digital Marketing, PR and Brand.

$225,000 plus super and bonuses is the starting point for a capable CGO who will deliver results. Expect to pay more depending on the size and scale of the role.

Senior Product Managers

Judging by the feedback from clients and the market, it seems many FinTech’s are considering a pivot or growth into new markets. We have held a number of discussions over the last 90 days with clients looking for a similar profile. A Head of Product Development who can change Product teams focused on process ( and who seem convinced that applying Agile methodology solves everything) into product development teams shipping product that sells.

The right person typically comes from an engineering background. They break the mould by demonstrating commercial acumen/results and an ability to change the behaviours and beliefs of product teams.

Expect to pay anywhere from $180,000 plus benefits and bonus for this type of person. Our research suggests they will be in big demand 2019, no doubt the figure will rise.

Cyber Security.

As the challenger banks officially launch in 2019, the thing that keeps CEO’s awake at night (apart from trying to get a license) is security. Ironically, the best Cyber Security people I know don’t class themselves as Cyber Security specialists. They are risk experts.

If you are on the hunt for a Cyber Security specialist expect to pay big dollars. Or go to the source, Eastern Europe and hire the people who are your potential threat!

Developers and Engineers

No change there, each year it gets harder. I heard Google recently paid an engineer in London a $3m salary. Expect to pay what you have to pay to get the right person. It is extreme, but we have plans underway to help the FinTech community access top development talent on reasonable salaries!

Data Science.

AI continues to be the buzzword of 2019. Will it follow the same path as Blockchain? Business leaders are beginning to recognise the limitations of Ai and the potential business issues it can cause.

Instead of replacing humans, the buzzword of 2019 will be ‘augmentation’ as we seek to automate mundane tasks. The emphasis will be on machine learning. Hardly ground breaking, we have been doing that in the workplace since the industrial revolution!

Still, a great data scientist will cost around $150,000 in 2019. And if you want a genuine AI/ML specialist, our research team is scouring the universities and colleges around the world.

 

Making a Career Move to FinTech

Fintech is one of the hottest employment sectors. With banking and financial services facing HUGE disruption and so many banking and financial services execs entering the Fintech job market, there is increased competition for opportunities.

Lean Startup Approach To Job Hunting.

When Tier One People does advertise a role, we receive 150 – 200 applications on average. Couple that with a market search and on average you are competing against 300 plus potential candidates. How can you give yourself a competitive edge and ensure you are the one securing the dream move to Fintech?

I've been in the recruitment game for over twenty years. Over that period, I have given career advice to 25,000 plus people and helped thousands of people find a job. I've worked with hundreds of clients.

Putting all of this experience together I've developed a simple approach that helps people accelerate the job search and maximise their career options. The system in many ways follows the principles of Product/Market fit applied in Lean Startup methodology developed by Eric Ries. The distinction here is YOU are the PRODUCT/Service and a potential employer is a CUSTOMER.

Step 1. Start with ‘SO what and why should anyone care’

The most common mistake I believe people make when thinking about any career move is who they FOCUS on. When contemplating the next step, we have been conditioned to ask questions such as

‘What am I looking for?’, ‘What will make me happy?’ ‘Where do I want to be in 5 years-time?’

I see a big issue with this line of questioning. What you want is not the focus of a potential employer at this stage. What every employer is focussed on is solving their problems.

The first step of any job search is to ask yourself one simple question.

“What is the BIG problem I solve?”

 

Step 2. Are You Solving A Real Problem?

This is a critical step. If you are solving problems Fintech’s don’t have or don’t see as a problem then the job search is going to become tough.

Typically, we see people moving out of a large corporate environment promoting their expertise in Innovation or Transformation. These problems are prevalent in big banks, but not such an issue in a Fintech startup.

The growing adoption of AI and rapid advancements in technology mean it's very easy for tasked based skills to be considered less important. And the focus is shifting to people's ability to make an impact and deliver outcomes.

Even if a FinTech needs your solution, will they use your service, or will they use someone else? There is a lot of competition out there. Are you as good as, if not better than your competitors?

If not, what areas need improvement to make your product the market leader?

Step 3. Define the benefits YOU bring.

In most instances’ businesses are experiencing one of three problems. Over the years we have come up with different terms, change, transformation, strategy, sales, product fit, disruption. But ultimately, most problems facing a FinTech founder can be distilled to the following:

REVENUE - Sales and Growth

SCALE - Operational efficiency

Ultimately your product (YOU) may have one or two benefits to a FinTech. You can demonstrate where you can GROW revenue and/or SCALE a business. People who demonstrate the ability to drive revenue and scale are naturally in the greatest demand because they will have the most IMPACT on a business.

A Fintech startup will usually hire the person they feel will make the greatest impact immediately.

Step 4. The VALUE CREATION exercise.

It surprises me how few people know or can estimate their value to a business. I often hear the term “Value Add” dropped in resumes and interviews. Yet when I ask how? I am met with a blank stare.

The Lean Startup talks about the Value Hypothesis Test which determines whether a product or service truly delivers value to customers. As you are the PRODUCT, I recommend a simple value creation exercise to determine the value you bring to a potential employer.

List your career achievements and attach a dollar value.

As an example, you may have automated a process, which resulted in a reduction of head count, saving costs. If you managed to reduce headcount by one and that person was on a salary of $100,000, over a five-year period, you have saved the business $500,000. In other words, you have created $500,000 worth of value.

Repeat this exercise for every notable contribution you have made to a business and total the amount.

You might be surprised how much value you can bring to a FinTech startup.

Step 5. Market Fit and Your Go to Market Strategy.

Most job seekers spend 100% of their time and energy with a go to market strategy that doesn’t fit the customer.

The typical job search mirrors a B2C marketing campaign. High volume, low touch.

You've applied to hundreds of jobs on line, you tick all the boxes, yet don’t even get a response. You meet multiple recruiters who said you were perfect for the job and you never hear back.

This high volume approach rarely works, especially when your are targeting the wrong person.

A job search should mirror a B2B marketing campaign, low volume, highly targeted with multiple touch points. You need to find a way to get in front of your customers and pitch your solution.

Evan Wong, CEO of Checkbox.ai (RegTech of the Year 2017 and 2018) has this advice:

I had to grow our network of Tier One clients from nothing. Coming straight out of University, I had no existing contacts or network in Corporate land.  So, I started out by creating a general profile of people I thought that would be interested in the product. Through a combination of research, Google searches, reading articles, blog posts and LinkedIn profiles I built a target list of ideal customers.

Next, I’d reach out by email asking to set up a short call for feedback, not to sell anything! Just feedback on the Checkbox value proposition. The discussion would usually be followed up a few months later with an in-person demonstration of the product. At the end asking for recommendations or referrals to other contacts in their network.

Today most of our business comes from word of mouth and thought leadership marketing. Being active at industry events and conferences helps our profile a lot.

Step 6. Pivot or Persevere.

Moving straight out of corporate and into a FinTech startup is tough. Especially in this market. You are likely to face lots of rejection. Does this mean you should give up on a move into FinTech?

Don’t despair, this is where you might want to PIVOT or change your strategy. Feedback from interviews and meetings with potential employers can help form the basis of your Pivot.

It may be you need experience in a smaller business before a FinTech startup is comfortable hiring you. A credit union, mutual, or smaller bank undergoing digital transformation can be a great stepping stone to a FinTech.

Could there be opportunities in your current employer that will help you build your skills and experience?

A corporate venture fund?

An acquisition of a fintech startup?

Maybe you just need to PERSEVERE. The key here is to immerse yourself in the FinTech ecosystem. It is what I call Proximity. The more people see you around the FinTech scene the more likely they are to offer you a job.

Go to FinTech meetups, attend events, keep in contact with Founders, post relevant content on Linkedin and Twitter, start following the people who have a profile, look for opportunities to help and connect people.

Follow these steps and before long you will find your Tribe, doing game changing work with amazing people.