CEO of True Finance talks fintech, innovation and finserve
Tim Yelchaninov is the CEO and co-founder of True Finance and an official member of the Forbes Business Council. He has almost ten years of experience in the financial industry and is a passionate advocate of good customer service. We caught up with him to find out more.
Describe your journey to fintech. How did you get here?
I started with Trend Capital, this is a PNW based fintech company that reaches millions of users and consumers daily. They have a fantastic team culture and a team with leadership, it was incredibly inspiring. Seeing them solve problems using technology made me become a leader in the fintech space. So here I am, trying to solve problems to help people become the best version of themselves.
Who was your childhood hero and why?
Police officers. I was that kid on the playground singing “bad boys” by Inner Circle. I admired them as courageous leaders who made the world a better place. Early on, this led to me feeling a certain strain to help the people around me and specifically protect children from bullies. An interesting fact, prior to joining Trend Capital, I interviewed for several police agencies in the state of Washington. But things worked out for the best and here I am in fintech instead. No regrets.
What’s the best advice you’ve ever received?
“Be patient with yourself and others” I actually heard that from John Piper. Life is not always going to be easy and everyone has their own journey. Part of being a great person is encouraging others to reach for the stars while helping them see that it takes a lot of persistence and perseverance.
Name one piece of technology you couldn’t live without and tell us why (except your mobile phone)
I’m inclined to answer that it’s my laptop. But it feels like cheating and a very common answer. So I choose my LinkedIn account. While building True Finance, I’ve connected with amazing leaders, been inspired by posts, and found answers to tough questions. This network has been an absolute catalyst for me over the past six months.
True Finance is going from strength to strength – did you ever think your plans would take you to this point when you first started?
Not at all, our team had ideas for potential products, but we etched them with a pencil. None of our plans were permanent because we wanted to follow the data, talk to potential customers and bring real solutions to the table. Our market research helped narrow down our MVP and here we are. Now True Finance is being built to help customers break the cycle of bad credit and massive debt. We aim to have a generational impact on the finances of our users.
Is there a personal achievement from the past 12 months that you are particularly proud of?
Yes, I became a morning person! I used to dread waking up early, but now it’s the highlight of the day. I start with jogging, go into a period of meditation and follow up with lots of coffee and work. And this isn’t a once a week thing, it’s every single day. I am officially a morning person and I love it. It all happened when I sat down to evaluate my day and when I am most productive. I found that in the morning my mind was clearest and ready to execute. As I move into the afternoon, my mind moves into a creative cycle, so I leave the late afternoon to create, write, and plan. I call this my rhythm. I hope everyone finds theirs, it’s life changing.
Describe yourself in three words
Husband, father, creator
What inspires you in Fintech today?
Helping people inspires me. Making a positive impact drives me forward with True Finance. I was given an opportunity to launch a product and my desire is to build a product that makes people smile. Solutions that are a catalyst to break the cycle of bad credit and no money. We want to help people get approved for home ownership, get more scholarships, pay off debt faster, or simply save enough to go on vacation for the first time in years! We have a solution, and it’s going to change lives.
What’s next for Tim Yelchaninov?
The next step is to find the right venture capital partner. We are looking for someone who wants to leave a generational impact on the family finances. Meanwhile, True Finance is preparing to launch our MVP. Outside of work, I will strive to be the best version of myself for my wife, my three daughters and my team at True.
