Payment Expert’s ID Check: Payments Professionals offers insight from industry leaders and experts on how they got their start in the financial industry, from their early years in education, to how they have been able to climb the corporate ladder.
This week, Noel Goddard, Founder and Managing Director of Currency Stream, shares the open minded nature you must have in being able to navigate the payments industry, why a “great execution of an acceptable plan is better than no execution of a perfect plan”, and why the global transformation of the world is providing the opportunities for tomorrow.
Where did you go to university and what did you study? What impact did this have on your current professional journey?
I went to the University of London (UCL) and graduated with a Bachelors in Law.
Academia was never my strong suit, as I really couldn’t see how the information I was being given would actually help me deliver the successful, happy and balanced life I knew I wanted.
Due to this, I have often decided not to hire anyone based solely on academic ability during my professional career. Instead, I look for dynamism and street-smart people who have a hunger to succeed but with evidence of the ability to apply analytical thinking to problems.
Were you part of any sports clubs or societies at university and has this influenced your educational and professional development?
Not officially but seemed to gravitate towards the social aspects of university far more than I should have done. Never regretted a sunrise though!
What was the first job you had in the industry and are there any lessons from this you still draw on?
My first industry job was at Sapient (which now goes by the name Publicis Sapient), an IT services and consulting company. I worked as a Relationship Director for the company, working closely with web1.0 startup companies which included DMA (Direct Market Access) brokers, a multibank FX and Interest Rates platform and a global Property and Casualty Insurance business.
During my five years at Sapient, I learnt the importance of having clear outcomes in business and helping all stakeholders to keep focused on these outcomes at all times in every decision we made. It was an invaluable lesson to learn when building up my own business.
Who was your biggest role model – inside or outside of your industry – who continues to inspire you in your current career?
My old boss: Hemant Kishan – Director at Sapient. He taught me the art of managing teams across many disciplines. He was a warm, fair and firm leader of people.
He taught me that blame flows uphill and praise flows downhill. If a team member failed in a task, it was ultimately my fault for not training them better, training their managers better or imparting my expectations clearly enough. If something went well, it was always their success, not mine. I am nothing without them and their excellence.
When was your first big break in the industry? Why was this such a significant moment for you?
It happened at FTT Global, the first company I founded, when we secured our first white-label partnership with a Nasdaq-listed online broker. Suddenly we had a fantastic case study and a world recognised brand wanting to partner with us.
It was a wonderful validation for all the team’s hard work and a strong recommendation for our way of doing business differently, with absolute transparency at the core of everything we did (and do today).
Was there a moment you faced in the industry that really challenged you? How did you overcome this?
I don’t think there has been any one moment that stands out, as founding, growing and managing a business over many years is just a series of opportunities and challenges. I have always tried to treat success and failure as the two imposters that they are.
In times of success, I like to celebrate the team’s achievements but I always make sure to look at what I could have done better to support them through the process, so we can make the next win less painful to achieve.
In times of stress or failure, it is my job to insulate the team from the excesses of the pain, keep calm and move forwards. You can’t change the past, only learn from it, so I never try to react in the moment but to reflect on the problem later to ensure the best possible outcome next time we face a similar challenge.
What are some of the skills you deem essential to starting in your industry and how have yours developed over the years?
Don’t over analyse and trust your gut. It’s important to do your homework and research thoroughly but don’t overplan anything. Great execution of an acceptable plan is better than no execution of a perfect plan. As soon as you start, the plan will change as you learn and adapt to reality.
What is some advice you would give to an aspiring person looking to get a start in your respective industry?
If you think things have changed in the last 25 years then you haven’t seen anything yet. The world is about to go through a century of unbelievable transformation in ways most people cannot even imagine.
We are a global society in a way that has never been seen before. Resources are global, information is ubiquitous and everyone has easy access to a consolidated view of every piece of knowledge ever created in the palm of their hand, thanks to the internet, AI and smartphones. We have only just scratched the surface of what this means personally, socially, culturally and economically.
The current backlash against this global reality comes from scared leaders and outdated institutions fighting against the tide of positive opportunity. Their pushback is ultimately just minor friction on the path of progress and will not stop the wheel of change turning.
Change is bringing massive opportunity and it is the small, nimble and brave companies (and the people that make them up) that will become the next Google, Amazon and Meta. Just because we can’t see them yet does not mean they aren’t out there.
It could very well be you or your business that shapes the future, so be brave and jump into the void!
