Solving Scams as a Second Time Founder

In this episode I spoke to Nicky Goulimis, co-founder and CEO of TunicPay, about why she started a second company, what TunicPay is building, and how they’ve managed to land some of the UK’s biggest banks as customers in under three years.

Here’s what we covered:

•       What it’s really like to start a second company

•       The difference between fraud and scams 

•       Why all of the fraud defences banks have built over 20 years don’t work for scams

•       How TunicPay’s payment context protocol works

•       Who should bear liability for scams 

•       How TunicPay landed major UK banks as their first customers, and how they navigated those organisations

•       How they’re thinking about entering the US market, where the bank liability model is completely different

•       Why Nicky thinks FinTech has been unambitious about scams, and what she’d like to see

If you work in financial services, fraud, or payments - or if you’ve ever been close to being scammed - you should listen to this episode.

Timestamps:

00:00 Nicky's Entrepreneurial Journey

13:05 Solving scams

20:18 Understanding Liability in Fraud Prevention

25:15 Stopping scams in real time

32:06 Navigating Partnerships with Major Banks

38:12 Expanding into the U.S. Market