Episode 1

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Published on:

16th May 2023

The role of Purpose in FinTech and how to craft a strategic Purpose to create differentiated Products that add customer value | Simon Clarkson, Founder and Consultant CMO at Purposecraft

Simon Clarkson is the Founder and Consultant CMO at Purposecraft where he helps companies develop and implement a clear, evidence-based strategic purpose, while empowering functions to be catalysts for change and creators of customer value.

In today’s episode, we go deep to understand what do we mean with Purpose. Its impact on company success, the governance to measure it - and how he’s successfully done this with a 9000 people organization! We explore the role of Purpose in FinTech and discuss a framework you can use to define a clear evidence-based strategic purpose to differentiate your Product and FinTech.

We discuss how Purpose and Strategy are two sides of the same coin and how strategic purpose development is the highest level of strategy, which involves defining the value that a company brings to the world and drives its strategic direction.

👉 You can find Simon here

👉 And you can find Monica here:

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In today’s episode we cover:

(02:05) The Why of Purposecraft - a story about their journey and how they got into existence

(06:26) Purposecraft’s purpose and problem statement they are solving

(10:07) Definition of purpose in the context of an organization

(11:34) The relationship between having a clear purpose and having impact in society

(16:03) The role of the CEO, Clevels and Board when creating a company purpose

(16:54) The impact of leading with the heart

(19:27) How Simon brought a 9000 people organization on board setting up a new company purpose


(23:03) How to measure purpose and success


(25:23) Fintech and purpose


(30:38) How our capabilities and identity place us in a unique way to help customers with financial well being in a way that it's different than everybody else


(35:50) Questions can we ask ourselves to set a strategic purpose


(40:53) Where to find out more about Simon and Purposecraft


(41:15) Closing question: If you could change one thing, just one thing in Fintech, to make fintech better and have positive impact to customers, staff and investors, what could it be?


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Production and marketing by Monica Millares. For inquiries about sponsoring the podcast, email fintechwithmoni@gmail.com


Disclaimer: This episode does not constitute professional nor financial advice and does not represent the opinion nor views of my current, past or future employers; nor those of the guests. The guest has agreed to record and release our conversation for the use of this podcast and promotion in social media.

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About the Podcast

Purpose Driven FinTech (& AI FinTech Innovations)
Building FinTech Products & AI in FinTech with Impact
Welcome to Purpose Driven FinTech!

I'm your host, Monica Millares - Product Leader and fellow FinTecher.

These days, with the rising cost of living, financial stress among customers, loss of trust in banks, speculation of crypto, and uncertainty, we're facing unprecedented challenges. But there is hope. We as FinTechers have the power to make a positive impact.

Our products, the how we do product, and our people can make a difference on customers’ financial lives - and as a result, in the quality of their lives.

However, more than ever Founders, CEOs, Leadership teams and all FinTechers have a ton of pressure to build solutions that actually solve customer problems, that people want, that are differentiated And profitable

Yes that's you and me too!

That's why I've created this podcast!

I speak with Founders, Product Leaders, VCs, and industry experts to uncover their stories, challenges, and lessons learnt in building products with impact.

You'll get to hear real-life conversations, and you’ll walk away with practical questions, frameworks and insights that you can apply to your own FinTech products. So, are you ready to make a bigger difference in FinTech?

Let's come together and discover how Purpose, Product, and People can help us create a future of better financial wellbeing while building sustainable and profitable FinTechs.

Follow me on LinkedIn, TikTok, and  YouTube to stay connected and be part of the conversation.

Cheers to making better FinTech and making FinTech better!

Love, Moni 

About your host

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Monica Millares

Monica advocates for financial safety for all. She is the Product Principal at BigPay, where she leads Product and Design. As part of the founding team, Monica led building BigPay’s product from zero to one, to multi product line, and international expansion. Her leadership shaped the culture and ways of working to grow from startup to scaleup. BigPay has over 1.4 million customers, and has presence in Malaysia, Singapore and Thailand.

Monica has almost 20 years’ experience in Financial Services. Prior to BigPay, she was one of the first joiners in UK’s challenger Tandem Bank, where she focused on building credit cards from scratch. Previously she worked in leading Financial Services brands like Visa, Barclays, and a Mexican Development Bank.

She sits on the Board of PayEd, and is recognised as Singapore’s #Fintech65 Product Leaders and Women in FinTech. She’s been multiple times speaker at the prestigious conference Money2020 and shared stage with JP Morgan, Standard Chartered Bank, Konsentus, and Money2020’s Rise Up. Her commitment to innovation and financial inclusion resonates in her podcast “Purpose Driven FinTech” where she explores how FinTech’s can have 10x more impact.

Monica has a background in Engineering and a Master’s Degree on Analysis, Design, and Management of Information Systems from the London School of Economics.