Innovation in Data and Analytics
14 April, 2025
The Future of Connected Banking
The latest episode of FinTech Focus TV, hosted by Toby Babb, welcomes Nick Simpson, Co-Founder & CTO, and Carl Hasty, Co-Founder & CEO of CoBa, a company at the forefront of transforming connected banking. In this discussion, the CoBa Co-Founders dive into their journey of building a technology-driven business, their successful partnership with Lloyds Bank, the role of AI in financial services, and the importance of a strong company culture. With insights into startup growth, investment strategies, and product innovation, this episode provides a compelling look at the evolving FinTech landscape.
This episode of FinTech Focus TV with Nick Simpson and Carl Hasty at CoBa highlights the growing role of AI in financial services, a theme that directly aligns with the AI recruitment expertise offered by Harrington Starr. As CoBa explores how AI can enhance data analysis, automation, and customer experience, the discussion reflects a broader industry trend where financial institutions are actively integrating AI-driven solutions. With increasing demand for AI talent in FinTech, Harrington Starr specialises in connecting companies with top-tier AI professionals, ensuring that firms can leverage machine learning, predictive analytics, and automation to enhance operational efficiency. The insights shared in this podcast underscore the need for skilled AI engineers, data scientists, and compliance experts, roles that Harrington Starr actively recruits for to help businesses stay ahead in the evolving FinTech landscape.
From Stealth Mode to Securing a Tier-One Banking Partnership
Toby opens the conversation by discussing how CoBa has quickly gained momentum in the industry. Carl and Nick explain that before officially launching the company, they spent a significant amount of time in stealth mode, working to validate their concept through extensive research. They engaged with UK banks and corporates to ensure that there was a real need for their solution before taking it to market. Their discovery phase led them to collaborate with Lloyds Bank, a partnership that helped solidify CoBa’s early success.
Carl reflects on how important it was for CoBa to take a strategic approach before launching. Instead of rushing to market, they spent time ensuring their solution met genuine customer needs. They worked closely with Lloyds Bank, gaining access to their clients and validating their concept with real businesses. This early work was instrumental in securing their first major deal with Lloyds Bank, an impressive feat considering the complexities of dealing with large financial institutions. Their extensive research and interactions with financial institutions allowed them to create a solution tailored to the real needs of businesses, helping them enhance operational efficiency and streamline financial management.
Understanding the Need for Connected Banking
Nick explains that CoBa was founded on the principle of identifying and addressing a fundamental need in banking. Traditional banks offer a broad range of services but often lack seamless connectivity between these services and their clients. Many businesses are forced to use multiple systems, platforms, and manual processes to manage their finances. CoBa’s mission is to bridge this gap by creating an integrated banking solution that connects businesses directly to their banks, eliminating inefficiencies and enhancing the client experience.
Carl elaborates on the fragmentation businesses face when dealing with traditional banks. Many companies must navigate between multiple platforms, telephone calls, and emails just to complete everyday financial tasks. CoBa streamlines these processes, integrating key services into a single, user-friendly platform that enhances efficiency and operational control. By creating a fully integrated system, businesses can focus on what truly matters – growing and expanding their operations without the burden of navigating disjointed banking systems.
Overcoming Challenges in FinTech Partnerships
One of the most significant challenges for startups in the financial sector is navigating procurement and compliance with major banks. Toby acknowledges that many startups struggle to secure enterprise clients due to extensive security and governance requirements. Carl highlights that CoBa had to meet stringent security standards, ensuring that their platform adhered to regulatory requirements. Meeting these challenges meant that CoBa had to build credibility and establish strong compliance processes to ensure its integration with financial institutions was seamless.
Having previously founded businesses before launching CoBa, Carl and Nick were able to navigate the long sales cycle and rigorous compliance demands that come with partnering with a tier-one bank. They share that having a long-term vision and the patience to work through these challenges was crucial to their success. Their approach highlights the necessity for FinTech startups to build long-lasting relationships with financial institutions, ensuring they can offer practical and innovative solutions that align with the evolving needs of modern banking.
The Importance of Culture in Building a Successful FinTech Company
Toby steers the conversation toward the topic of company culture, an area he is particularly passionate about. Carl and Nick emphasise that culture has been a critical foundation for CoBa’s success. Unlike many startups that outsource development, CoBa has onshored all key functions, ensuring that their core team is aligned and working closely together. This decision allows for better collaboration, problem-solving, and innovation. By fostering an environment of continuous learning and innovation, CoBa has successfully built a team of high-performing professionals dedicated to improving banking solutions.
Nick explains that CoBa has cultivated a hybrid work environment, where employees work from the office two to three days per week. He highlights that when the team is together in person, there is a buzz of innovation—with engineers and product specialists brainstorming and problem-solving in real time. Ensuring that employees remain engaged and invested in the company’s mission is essential for fostering long-term innovation and business success.
To further strengthen their culture, CoBa has implemented quarterly awards where employees vote on colleagues who best embody the company’s core values. This initiative helps reinforce a positive work environment and ensures that their mission-driven approach remains at the heart of their operations. By recognising and rewarding dedication and excellence, CoBa ensures that employees remain motivated and continue to contribute to the company’s long-term growth.
Strategic Hiring and the Role of Recruitment in FinTech Growth
As a growing FinTech company, CoBa has been deliberate in its hiring strategy, ensuring that every new hire aligns with their values. Toby, as the founder of Harrington Starr, a FinTech recruitment business, is keen to discuss how companies can attract and retain the best talent. Carl shares that CoBa’s recruitment process is highly selective, focusing on candidates who demonstrate strong collaboration skills, problem-solving abilities, and a shared commitment to their mission. Ensuring that the right talent is in place is a cornerstone of CoBa’s ability to grow and scale effectively within the financial sector.
Nick adds that CoBa’s hiring philosophy prioritises diversity and aptitude over traditional qualifications. Rather than relying solely on technical tests, they conduct conversational interviews to assess candidates’ critical thinking and adaptability. This approach ensures that CoBa continues to build a highly skilled and cohesive team capable of driving the company’s success. Recruitment is crucial for enabling FinTech firms to remain at the forefront of innovation and technological advancement, and CoBa’s hiring practices are designed to support this long-term vision.
The Future of Connected Banking and What’s Next for CoBa
As the episode comes to a close, Toby asks Carl and Nick to crystal ball the future of CoBa and connected banking. Their vision is clear: to continue building a platform that integrates every aspect of business banking, from payments to lending, ensuring that banks and their clients can seamlessly interact through a unified system.
With a scalable SaaS model, a commitment to innovation, and a strong company culture, CoBa is well-positioned to drive real change in financial services. As banking technology evolves, businesses will increasingly demand more personalised and connected financial solutions, and CoBa is at the forefront of making that a reality. By continuously refining their offerings, expanding partnerships, and leveraging cutting-edge technology, CoBa is set to become a key player in shaping the future of FinTech.
The insights shared in this episode of FinTech Focus TV with Nick Simpson and Carl Hasty of CoBa provide a compelling look at the evolving landscape of connected banking, the role of AI in financial services, and the importance of strategic hiring in FinTech growth. Their journey from stealth mode to securing a major partnership with Lloyds Bank is a testament to the power of innovative technology, strong company culture, and smart recruitment. This discussion highlights the very themes that Harrington Starr, as a leading FinTech recruitment company, champions—ensuring that the right talent is in place to drive technological advancements and industry growth.
As CoBa scales its operations and integrates AI-driven banking solutions, their approach underscores the increasing demand for highly skilled AI engineers, product managers, data analysts, and compliance experts—roles that Harrington Starr specialises in recruiting for. The challenges CoBa faced in building a high-performing team and creating a culture of collaboration, innovation, and adaptability are the same challenges that many of Harrington Starr’s clients encounter. Through expert talent acquisition strategies, Harrington Starr connects forward-thinking FinTech companies with professionals who can accelerate digital transformation, drive AI adoption, and strengthen product development.
This podcast is not only an inspiring startup success story but also a reflection of the dynamic shifts within the FinTech job market. As AI continues to shape banking, payments, and risk management, recruitment in these areas has never been more crucial. Harrington Starr remains at the forefront of FinTech hiring, ensuring that businesses like CoBa can access the best talent to build the future of financial services. If your company is looking to scale, innovate, or integrate AI-driven solutions, partnering with Harrington Starr is the next step in securing a competitive edge in the industry.
