CEO Today United Kingdom Awards

www.ceotodaymagazine.com 58 CEO Today United Kingdom Awards 2018 FINANCIAL SERVICES • RSM European Business Awards Digital Technology winner 2017/2018 • The Queen’s Award for Enterprise: International Trade 2017 • The Sunday Times Hiscox TECH TRACK 100 - 5 years in a row • Deloitte TECHNOLOGY FAST 500 EMEA - 3 years in a row • Deloitte TECHNOLOGY FAST 50 UK - 2 years in a row • FT Future 100 UK 2018 • FT1000: Europe’s Fastest- Growing Companies - 2 years in a row • Sonovate 250 UK FinTechs 2018 • AI Global Excellence Award 2018 - UK’s Most Progressive Financial Services Provider Predicted to Load €2.5 Billion in 2018 Moran is a trail blazer who likes to give back and support his local community, but he never dreamed he would become a success story. After all, he was a kid who left school at 17 with no formal qualifications. Instead of the usual academic route, he carved out his own path and became a Financial Technology leader in the process. But it was not all plain sailing. Noel Moran came through many challenges over the years which he believes contributed to the character of the company and paved the way for its most recent triumphs and the cornerstones that have yet to come. “When PFS was established, I never dreamed we could be as successful as we have become, never mind enjoy a decade of profitability. Well, perhaps somewhere in the back of my mind I did. In 2010, we processed just over £5 million. Contrast this with 2018 - we are aiming to process around Euro €2.5 billion this year,” Noel Moran added. European IPO Snapshot European IPO markets raised €9.3 billion in Q2 2018. Source: PricewaterhouseCoopers IPO Watch Europe. It is important to point out that the profits have been ploughed back into developing the business and employing 165 people. At the very beginning, employee No.1 was his girlfriend who took the risk of giving up her job to take a chance on a start-up. The working and business relationship blossomed. Now, Valerie Moran is his wife and is Head of Client Relations & Operations. Another long-term friend and leadership figure in the industry, Lee Britton, Commercial Director, joined the company in its early days and helped to accelerate PFS’ growth. He is also relishing the prospect of embarking on an IPO and making the leap to PLC status. Here at CEO Today, we are always curious to examine what sets a United Kingdom Awards winner apart? In a word, ambition. An unceasing belief that win-win is possible, no matter what obstacles lie ahead. Take the move to set up a brand new FinTech fund last year. The PFS €1,000,000 Innovation Fund for Entrepreneurs, SMEs, and Schools is the largest fund of its kind. News of the investment pot gained momentum online and went viral attracting entrants from across four continents. The stories behind the entries caught the imagination of national television Producers. Next thing he knew, Mr. Moran was involved in a three-part special aired about the initiative which saw 700,000 people tune in to primetime Saturday morning viewing on Virgin Media Television to learn more. Incidentally, the PFS name has gained traction internationally in recent times. In the past year, an audience of over 1.1 billion people have seen PFS in the news worldwide. The company has embraced the power of “Based on a True Story,” and has discovered that the best way to perfect the art of storytelling is to share more impactful and inspirational stories. Specialists in Navigating Regulatory Matters in Europe Experts in regulatory environments, PFS operates in the new reality of regulation for the industry. At European level, the regulations in question are acts of the European Union that instantly become enforceable and legally binding in every Member State at the same time. EU Directives operate differently as they become law at national level. Every day, EU experts issue recommendations and opinions that are widely publicised but have a zero-binding force. As soon as a Regulation comes into being, it precedes national laws in that area. As Member States cannot block these rules, legislation can be passed nationally to handle matters that arise in the wake of such changes. In the past decade, the company has become a recognised expert in diligently handling the different regulations that exist within a vibrant and ever-changing pan-European marketplace. Regulation and Compliance specialism is a core part of its offering and it has regular discussions with a number of Central Banks in order to file its Anti-Money Laundering (AML) reporting obligations. Over the years, the company has gained the trust of governments as well as traditional financial institutions, fellow FinTechs seekingtoenhancetheirofferings, mobile phone companies seeking to offer financial services products, international NGOs, and corporate clients. In many cases, PFS manages entire programmes including BIN sponsorship, programme management, and end-to- end technology solutions. The company has a sizable number of new programmes going live in the coming months to ease the pain point of customers who came to them in need of cutting-edge solutions and client- friendly processes. Currently, the company is at an advanced stage of seeking to obtain licences to operate in several countries in Africa and Asia. Deep Dive into PFS’ Unique Company Origin Story Picture the following scene in a one-bedroom apartment. A wantrepreneur who had not been paid by his employer in four months had an idea that would ultimately positively disrupt the prepaid landscape. With a wealth of experience gained from a number of financial institutions, Noel Moran had a vision of how to spearhead and grow a business created with ground breaking financial innovation in mind that now employs 165 people. A bird’s eye view of PFS’ upward trajectory reveals a progressive timeline of standout achievements. The seeds were set that would mould the prepaid scene and simplify e-money and payment services for businesses and in turn their customers across the European Economic Area. These plans were hatched at Noel’s white oak kitchen table, a fact that has since become a bedrock of the PFS growth story where foresight, hard work, and an unrivalled passion to succeed have become a reality. Today, the company he started from home, is one of Europe’s largest prepaid issuers. It is a feat that has not gone unnoticed by veterans within the tight-knit financial services industry – the synergy created is palpable as people seek out a real-time one-