Delving inside FinTech innovator Prepaid Financial Services
“Our core strength is achieving consistent profitability,” Valerie Moran, Head of Operations & Client Relations.
It’s late on a Wednesday night in the City. PFS’ owners have reached the end of a selfie queue at a private bank after Valerie Moran was invited to deliver a keynote speech on a hot topic – Diversity and Inclusion. It was a full house. The couple crosses the street to take out cash at a Barclays ATM to test one of their new prepaid cards. (The company acquired the Barclays prepaid portfolio earlier this year). The card is working fine. Cash in hand, they cross the street. Next thing, they see a commotion and hear sirens. A pedestrian was knocked down and is being treated by an EMT. Seeing that the man is conscious and being attended to by a medical professional, they catch a cab. As the door of the minivan closes, they realise that this is the quietest moment the couple has experienced all evening.
Step inside any of Prepaid Financial Services’ offices on Regent Street, Wilmslow, Ireland or Malta and everyone makes the same comment. The buildings are buzzing with activity. Noel and Valerie Moran have spent the past 12 years engineering one of Europe’s hottest FinTechs. Whether it’s tenders or new business, the company is used to winning. Today, news of another award came through – a European FinTech win that will be announced by a UK business magazine in the coming months.
The best questions are simply asked. How did PFS become a permanent fixture on the FinTech radar? It could be that it brings a human touch to Financial Technology as it designs a future cashless society in a non-threatening way. Soon, it will have hired another 100 people this year. We decided to take a stroll behind the curtain of FinTech to get a glimpse into a day in the life of a London tech legend which has been profitable for 11 years in a row.
Diversity and Inclusion are the buzz words of the year. PFS is seen as a leading light in this regard and the stats seem to back this up. Almost 58% of the staff are Women-In-Tech. Close to 44% of employees are from ethnic minorities. Incidentally, Valerie Moran brought the house down with applause when she revealed the stats on stage in the City. She has been invited to speak at Maynooth University’s School of Business in Ireland next month. It is the closest third level institution to the company’s new offices close to Dublin. Valerie and Noel are investing €50 million in a new FinTech centre for 750 people.
But what do the staff have to say? We caught up with one of the team who wanted to share his thoughts about an area of Diversity & Inclusion close to home, Neurodiversity.
“I remember my mother walking over to me in the kitchen and telling me about her little grandson, my nephew. I was surprised more than taken aback. This was the first member of my family I know about who is on the spectrum. I would never have had a close connection with anyone who was autistic before. I still recall that moment when I wondered what it all meant and I was annoyed at myself for not understanding more about the condition before this. To be honest, my heart sank as I was afraid of the unknown. I was fearful of what would happen to him as he got older until everyone in the family let things settled down and we all became properly educated on the subject. My first reaction was completely wrong.
There isn’t enough awareness about autism. There’s a lot of fear, a lot of worry and a lot of unanswered questions. When people do not have all of the information, they are quick to make prejudgements. People can be too fast to make up their minds about someone without having all of the information to hand. I was one of those people. Research changed my mind and my outlook. It taught me a valuable life lesson – I no longer pass judgement and jump to conclusions about people. It’s important to be a role model for him and my 10 other nieces and nephews. Awareness is key. I am confident that just the same as there are so many different kinds of talented people out there, PFS is always looking to hire the best. I see my nephew being considered for a role here in years to come.”
Prepaid Financial Services is proof that innovation can thrive in an environment where difference is embraced. To see the latest job vacancies in the UK, Ireland and Malta visit: