Hanoi Morillo is an accomplished author, speaker, executive, and international investor. She has had a significant influence on the digital and technological worlds thanks to her years of experience in the field. In addition to being a shark on the television program “Shark Tank Colombia,” Hanoi is a partner in the Latin American companies LA7EM and Gate93.
She brings to the sector her vast experience in digital transformation and innovation as the CEO and co-founder of Fivvy, a new fintech in the USA. Hanoi has demonstrated her capacity to drive and expedite digital transformation through her prior experience as Scotiabank’s Vice President of Digital Banking and CDO. She has also held senior management positions at Google and IBM, where she worked on global projects involving marketing, digital transformation, and innovation.
Below are highlights of the interview conducted between Fortunes Time and Hanoi Morillo:
Describe who you are as a person, inside and outside of the workplace.
I’m a passionately driven individual, very curious, constantly learning, and embarking on new projects. From being a shark in Shark Tank Colombia to writing books or leading a company, with everything in between
Describe your background and what did you do before you started/joined the company?
Originally from Spain, I studied business administration. I started my professional career at KPMG and jumped to the tech world, where I spent 12 years with Google and another 5 years in executive roles at IBM and Scotiabank. At the same time, I became a mentor and angel investor, a keynote speaker, and an author. I wear many hats on the same day.
Tell us about the inception of the company. How did it all start?
It all started with the question: how could we make your experience with money better? We first conceived of Fivvy as a recommendation engine for credit and debit cards. A place where you could go to understand what the best payment method is in your wallet for any particular transaction. That evolved into what we are today: a super app that gets you smarter with your money (from budgeting for expenses to alerting you of fraud in any of your banking accounts or cards—all from a single app) that also has an amazing B2B solution for FIs.
What has made you successful? What do you value?
I’m not afraid to take risks and go outside of my comfort zone. As a way to illustrate this: I’ve moved countries six times, changed roles, changed companies, appeared on a TV show, and written books. I’m very disciplined with my time and my health, and I’m surrounded by amazing friends and family.
Which are the major services of the company and how do they the company to get ahead in the competition? What value-added services does the company provide?
From a B2C perspective in the USA, we allow our users to manage their finances from a single app, with a delightful UX and very simple language. From understanding how you spend your money to how you can reduce your expenses or understand your credit card (how much you have available, payment dates, etc.) Additionally, our users save up to $597 USD by simply getting our payment alerts and avoiding late payment fees. We also detect fraud and suspicious activity, which lets our users detect fraud immediately.
From a B2B perspective, we are a plug-and-play PFM and data analytics platform for FIs in Latin America.
What are the most important aspects of a company’s culture? What principles do you believe in and how do you build this culture?
Culture has always been my No. 1 priority. Before I talk business, I talk people. Culture is definitely our biggest asset. As a startup, we may not pay the incredible salaries other companies can afford, but yet, people stay with us because we are an amazing company to work at. Psychological safety, trust, inclusion, and accountability are some of the pillars of our culture.
What is the significance of innovative ideas in the company?
As a company that is competing with services offered by giants like Mint or Google Pay, being nimble and innovative is key. There’s a constant free flow of ideas and we are not afraid of testing and trying new things as long as they bring value to our users and customers.
Give us your opinion on; do organizations rely heavily on individual heroics or team processes?
I guess that depends on the company, but I’d say it’s a combination of both. I always say that if you want to go fast, you go alone, but if you want to go far, you go together. And I want to go far. However, we all like to have a Messi that you know will respond even when the team can’t. Having those stars is key to keeping the team running and motivated.
What are your responsibilities as the CEO & Co-founder of the company? What is the happiest part of your daily routine?
Talking about what isn’t my responsibility would be easier. Haha. As in many startups, we all wear multiple hats, and I’m no different. However, I do have a significant focus on raising capital, leading commercial conversations with prospects, and ensuring I eliminate any roadblocks so my team can fly.
What advice would you give someone going into a leadership position for the first time?
Deep breath, ask a lot of questions, and be an active listener when you get the answer. Also, remember that you are at the service of your team and not the other way around. Thanks for the interview. Bye.
Nice to talk with you!. I wish you a fantastic day ahead as well. If you have any more questions in the future or need assistance, feel free to reach out. Take care! Good Bye.
