Highlighting FinTech Leaders: Michael Rangel (Novo)

“Banks will never truly go away. They will become more and more invisible as time goes on, but they will always continue to exist.”

 

 

Michael Rangel headshot

MICHAEL RANGEL (CEO)

 

Traditional banking continues to tremble as FinTech platforms disrupt the status quo. The digital transformation in banking continues to accelerate, as consumers “expect their banks to act and interact more like top technology brands.”

Novo, a Techstars-backed digital bank arrived on the scene in 2016. They aim to give founders and their pride-and-joy (the business) a fully digital banking solution. The company continues to hustle, raising $4.8 million in a March 2019 seed round. In 2018, Novo unleashed what Business Insider termed a “Pocket-Sized CFO to Empower Small Businesses.” TechCrunch Disrupt audience members oohed and aahed at the marvelous artificially intelligent creation.

Captain of this fair ship is Michael Rangel, founder, and CEO. Michael and his crew have cast their gazes skyward along with great modern thinkers and doers. They envision a universe where modern entrepreneurs can bank on their terms.

Take the next great leap with us as we introduce our friend, Michael…

Company 1-line description

Novo is a banking platform that provides better business checking accounts to today’s companies and is powered by a network of FDIC-insured community banks. Novo is bringing small business banking into the modern age with easy-to-use tools for founders on the go.

 

What’s a fun fact about yourself?

I still live with my co-founder.

 

Dinner with 3 people from any time across history, who would they be?

Elon Musk, Jeff Bezos, and Albert Einstein.

 

What’s your favorite thing about working where you do?

“I would rather hire a 100% culture fit than a 100% skill fit any day of the week”
Culture is a massive priority at Novo. I would rather hire a 100% culture fit than a 100% skill fit any day of the week. Working amongst some of the best and brightest minds in fintech is awesome, but what makes it even better is when people look forward to expanding the relationships outside of the office as well.

 

What keeps you up at night?

Ensuring our culture transcends through the organization as we continue scaling employee and user count.

 

What do you think about the future of FinTech that your colleagues don’t all agree with?

Banks will never truly go away. They will become more and more invisible as time goes on, but they will always continue to exist.

 

What bank or FinTech do you have the most admiration for and why?

Venmo (FinTech’s real OG)

 

Does Libra scare you?

I’ve always steered clear of dating libras.

 

Which tech giant will leap into banking first? (Amazon, Microsoft, Google, Apple, etc)

This depends on how you describe the word “banking” … as Amazon already offers more “banking” services to businesses than most banks themselves. Who will become a full-fledged bank first? I don’t think it’d be prudent of any of them.


 
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