Last week, Carpenter Group and the ‘Bank on It’ podcast traveled north for Boston Fintech Week, a yearly collection of Beantown’s burgeoning financial technology scene.  We spent three days attending various events and interviewing a variety of founders and CEOs, listening to innovators speak about what drives them and their business.  Delving into the weeds with these disruptors is an interesting experience; each has their own path to where they are today, with the dramatic twists and turns you’d expect from an industry built on change.

When attending events such as these, it’s important to take a step back and examine the trends that present themselves from a bird’s eye view.  One common thread was the success of payment platforms; companies like Square and Venmo have laid their stake in the ground, becoming almost ubiquitous in everyday life.  But the events, put on by Fintech Sandbox, showcased the next generation of payment solutions that plan on capitalizing on an overall trend effecting every industry – globalization.

Companies such as Flywire and Toast have made considerate headway in the category, taking away market share that has been reserved for the likes of Western Union for decades.  By focusing on a under-serviced demographic, tech-savvy international students (Flywire) and Southeast Asian immigrant workers (Toast), and promoting ease of use within their communications, these companies were able to scale at an astonishing pace. 

We had the opportunity to speak with Flywire CEO and founder Mike Massaro about the success of his latest venture.  He credits a lot of their growth to their company culture, a popular refrain within the tech scene. But, digging deeper, he did acknowledge that some of their success can be attributed to their communications as well.  Despite some early financial issues, venture capitalists were able to envision Flywire’s rise due to their company’s focus, eloquently presented by internal and external communications like their pitch book, website and collateral. It’s an interesting case study in the importance of clear messaging for any company, and you can hear more from Mike when his interview is released this Thursday on the ‘Bank on It’ podcast.