Making waves in the new world of Open Banking

Wednesday, 7 September 2022

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Sarah Wallis the Cofounder of fintech company Skript and a payment industry expert. Sarah began her career in computer science but after over 20-years of life in the corporate world, she was ready to shake things up and do something different. Sarah turned her corporate knowledge and fintech expertise into a startup which achieved the highly coveted Open Banking data accreditation to level the playing field between smaller fintech companies and the big banks.

At I2N’s Startup Stories at I2N Hub Honeysuckle on Wednesday 7 September, Sarah shared her story of how she leveraged her consulting, financial, leadership and computer science expertise into solving the problems of Open Banking.

Skript is making waves in the new world of Open Banking to radically transform banking services. They provide the technological infrastructure and data capabilities to help innovative companies create next generation financial solutions through the power of Open Banking, taking banking services to the customers instead of the customers to the bank.

Catch up on Startup Stories with Sarah Wallis

Top Takeaways:

  • Always be on the lookout for new grants and be aware of their expiry date! Grants also have an R&D tax offset, so be sure to take advantage of this. Keep up-to-date on grant opportunities with the I2N monthly newsletter.
  • In the early stages of your startup, VCs are often looking at the founders rather than the idea, so make sure your experience and expertise can sell the product that you are creating.
  • Your network is vitally important if you are looking to get into the B2B space. Now is the time to get to work and create your network. I2N Connect events are a great place to meet people.
  • Be sure you vet your VCs to understand what they’ll expect from you, especially when times get tough. Learn how to know how to negotiate; don’t give away more than 10-20% of your company.
  • Make sure your startup has value and is beneficial to customers. You will find this out by listening to them – so eat your feedback vegetables!

The University of Newcastle's I2N works with individuals and organisations from across the Hunter region and beyond to turn ideas and challenges into opportunity. As a leading driver of economic and business growth, the I2N cultivates an entrepreneurial mindset that is behind many of the region's most innovative businesses and leaders.

Keep up to date with future I2N events, programs and opportunities by subscribing to I2N's monthly newsletter or visit www.newcastle.edu.au/i2n

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