FinTech Awards Wales – Exclusive Interview: Confused.com

Matt Hyde, Director of FinTech Awards Wales meets:

Louise O’Shea,

CEO of Confused.com

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As part of our new interview series, Matt Hyde, Director of Recruit 121 and FinTech Awards Wales, talks to professionals in Wales’ booming FinTech sector. This week Matt caught up with Louise O’Shea, CEO of Confused.com.

Tell us about your main focus at Confused.com.

Our customers are at the forefront of everything we do. Since its inception when Confused.com started in 2002, its sole purpose has been to help solve genuine customer problems by bringing clarity to an often confusing industry.

Now that we are facing a cost of living crisis, our customers need our help more than ever. Plus with so many other things that add to life’s daily confusion, what we do at Confused.com is make our customer journey as quick and easy as possible. And we continue to help our customers across more and more products and areas of their journey.

Another main focus for us at Confused.com is our people. We believe that if you love what you do, you will do it better. That’s why we put so much emphasis on making Confused.com a great place to work. We invest in our employees and their future, both in their professional and personal lives.

What impact do you feel the FinTech Awards Wales are making in the FinTech sector in Wales?

FinTech Awards Wales is a time to celebrate and recognize great achievements. Recognition is a core part of our ethos at Confused.com and being able to do this across the Welsh FinTech sector is an extension of that. We see participating in the awards as part of what makes Confused.com a great place to work and they are a special moment in our calendar.

Role models, representatives and spokespersons are crucial, especially in an industry that has typically been London-centric and male-dominated. FinTech Awards Wales provides a platform for our role models to use their voices and encourage more people into the Fintech sector in Wales. The awards recognize people who have a willingness to learn and grow and are passionate about the industry. We need these people and their talents for the Welsh FinTech sector to grow, so a forum to celebrate them is key.

Why have you chosen to support the awards and in particular be the main sponsor?

Confused.com was one of the first FinTech companies in Wales and we strongly believe that we have a responsibility to ensure that Fintech flourishes in Wales for the benefit of all. Our current team and alumni are all passionate about growing Fintech in Wales and encouraging more people into the sector. The awards are a major event and provide an excellent opportunity to reinforce the work of various organizations and people. Plus, we love to have fun at Confused.com, and the prizes are definitely an opportunity to have a good time!

How do you feel the Welsh economy has fared post-Covid and what predictions do you have for the next 12 months?

The COVID-19 pandemic continues to see an impact on the Welsh economy even as we move into the new normal. Remote working in particular has affected Welsh companies. Where we previously benefited from a pool of talent in Wales who needed to work in Wales, now our staff can work for any company anywhere. While this is great for individuals, it makes it harder for companies in Wales to attract and retain the excellent talent we have here. Interestingly, it is also the start of a boomerang effect. Those who chose to telecommute for companies outside of Wales now want to be present and connected with their colleagues again and look for work more locally. They realized what they were missing!

The cost of living crisis that everyone is facing will also affect businesses, because their costs may increase or the demand for their products and services may decrease. As we have seen in the FTSE, company valuations can be reduced and new investment capital becomes harder to come by. This can cause some companies to struggle for years to come, it is important to always consider this when looking for a new job. Over the years, Confused.com has stepped in a number of times to recruit people who have had to be let go due to company closures, and I expect we’ll see more of that in the near future.

What is Confused.com doing today to support FinTech in the future?

Confused.com was a founding member of FinTech Wales, a not-for-profit organization growing the FinTech ecosystem in Wales. We have recently followed in Admiral Group and the principality’s footsteps in collaboration with the FinTech Wales Foundry programme. The Foundry provides world-class guidance and support for start-ups.

We are also passionate about growing Welsh talent. We support the Cardiff Commitment, offer a range of graduate programmes, and most recently we are exploring a scheme that will specifically train female developers. There is so much demand for great technology and data talent, and we want to ensure that this talent is diverse and that careers in technology and data are fully inclusive.

Finally, what is the best advice you have received and what advice would you give?

A good mentor taught me to always be flexible and open when it comes to opportunities because they often come when you least expect them. Throw yourself in and be as hands-on as possible, even if you are unsure whether you can do something or not. You only regret the opportunities you don’t take, so don’t let them get away from you. Thanks to that mentor, I am today the CEO of Confused.com!

The advice I would give is to understand what motivates you personally and therefore professionally. Tap it and use it to propel yourself forward. Stay true to it, and it will help you navigate the difficult decisions you’re bound to face.