David Boyd, the Managing Director of Finty.com, Shares His Entrepreneurial Journey

    “Once you know what you want to do, work out a plan and start doing it. Your plan should be flexible enough to deal with all the ups and downs that happen along the way until you get the flywheel going’’. -David Boyd’s advice for rising and passionate entrepreneurs.

    David Boyd is the Managing Director of Finty.com. In the beginning, this was a product comparison site for Australians. Boyd has been in marketing since 2000. After moving to Australia, he noticed a gap in the market and decided to launch a comparison website focussed on credit cards after researching the opportunity. This is how he started finty.com.

    It all started as a product comparison site for Australians that was focused entirely on credit cards. At that time it was CreditCardCompare and their mission was to make that customer journey much easier and smoother. It took a lot of work and a long time for things to get going. The focus of this company for the rest of this year is to go deeper into the main product verticals they compare across the countries they are already active in. They have a few countries in mind for where to open next.

    In this interview, David Boyd discusses his entrepreneurial journey with Business Upside. He also talks about his business concept, mission, marketing strategies, initial working experience, core values, recruitments, advice for young entrepreneurs, challenges faced, satisfying moments, next goal, and success.

    Edited excerpt of the Interview:

    Business Upside [BU]: How did you get your idea or concept for the business?

    David Boyd [DB]: Like many good ideas for business, it came from being in the industry. I’ve been in marketing since 2000. After moving to Australia, I noticed a gap in the market and decided to launch a comparison website after researching the opportunity.

    [BU]: What was your mission at the outset?

    [DB]: The business began as a product comparison site for Australians and was focused entirely on credit cards.

    When we started, the market was much earlier in its development. It was so early that people weren’t familiar with comparison sites for credit cards, and many banks weren’t set up to receive applications online. Our mission was to make that customer journey much easier and smoother.

    [BU]: How do you think the market responds to credit cards today, especially in younger demographics?

    [DB]: In Australia — where we began — the market has grown, but lending regulations and surging house prices have constrained demand. It’s harder to get approved. Most people in Australia only have one credit card; many people don’t have one at all.

    Attitudes to credit cards are very different in Australia than in the USA or Canada. Although our research shows a recovery in demand for credit cards in Australia, many people are wary of them. That’s not the case in the other markets where we operate.

    In Canada, for example, credit cards are seen as a tool to make life — and air travel in particular — easier and more enjoyable. While demand softened during the pandemic, our analysis shows a strong travel-led recovery in credit card search activity by Canadian consumers.

    [BU]: What was your experience in the initial days?

    [DB]: It took a lot of work and a long time for things to get going. There were a lot of late nights as the business gradually ramped up. Looking back, we were almost entirely focused on digital marketing. We did the same thing over and over again.

    [BU]: What are the core values of finty.com?

    [DB]: Make complicated things simple for consumers. Financial products like credit cards, mortgages, and crypto exchanges are presented with many complex details and can be daunting for the average user. People get hung up on that stuff — it’s our job to make it easier.

    [BU]: What do you look for in an employee?

    [DB]: Character, competency, and chemistry. It’s hard to find a good match, especially if you limit your search to your local area. What we value are people who want to work hard, especially if they are fastidious. It makes a huge difference when you have people around you who can delegate things, knowing it will be done right.

    [BU]: What is one piece of advice for someone planning for their financial independence at the early stage of their career?

    [DB]: We started our business as a side project, which is something I would highly recommend to anyone thinking of starting their own business. Having that regular income gives you the flexibility to try things that might not pay off.

    Once you know what you want to do, work out a plan and start doing it. Your plan should be flexible enough to deal with all the ups and downs that happen along the way until you get the flywheel going.

    [BU]: What were the biggest roadblocks or challenges you had when you first started in the profession, and how did you overcome them?

    [DB]: Ours has always been a remote team spread out around the world. While there are benefits, it’s hard to beat being in the same place simultaneously with the people you work with. It has also made networking and face-to-face meetings with partners more difficult.

    [BU]: What has been your most satisfying moment in business?

    [DB]: There have been many along the way. As a marketer, it’s very satisfying to dream up a campaign, plan it out, and then execute and see the results flow into the business. An example was when we gave away 1 million frequent flyer points.

    [BU]: What is the next goal as the Managing Director of Finty, you wish to accomplish?

    [DB]: Our focus for the rest of this year is to go deeper into the main product verticals we compare across the countries we are already active in. We have a few countries in mind for where to open next.

    [BU]: How do you define success?

    [DB]: In terms of business, success looks like a functional operation that’s profitable.

    More Information:

    Company URL: https://finty.com/us/about/people/david-boyd/

    David Boyd’s LinkedIn URL: https://au.linkedin.com/in/davidnboyd



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