Watch This (Soft) Space

Fintech is a highly competitive space for any company or start-up to be in. Soft Spaces CEO talks to Business Today on how the company is manoeuvring through the challenges and surpassing expectations to eventually becoming the next unicorn in the industry.

Financial technology, or better known as ‘fintech’, has been around virtually as long as the financial services industry itself. But a new breed of disruptors has since evolved to reshape the payment and financial landscape that we know today.

Fintech is changing the world of finance for consumers in a myriad of ways. Most people think that Fintech is just about the latest mobile application which can help them pay for their meal without the hassle of pulling out cash or a card from their wallets or purses.

But that’s not just the case; it’s much more than that. It delivers financial services and products to consumers in areas such as banking, insurance, investment – basically anything that relates to finance.

And no other company does this better than Soft Space.

Soft Space is a digital payments provider that simplifies the complexity of financial infrastructure and creates value-added features for businesses to expand their growth. Its mission is to conquer the payments sector and expand regionally, and beyond.

Joel Tay, the Chief Executive Officer (CEO) of Soft Space, notes that the fintech space “is an extremely competitive space to be in and only the strong will survive. We’ve come to realize that in order to become effective in this space, you cannot just be a single product company,” he declares.

Soft Space adopts a business-to-business-to-consumer (B2B2C) model that is flexible enough to meet the differing regulations and cultural aspects in the payments sector, which exists in different countries.

By employing a B2B2C model, Soft Space leverages on partner banks within each targeted country, to accelerate the speed to market and enable rapid growth.