Lissele Pratt is the Founder of Capitalixe, a fast-growing fintech consultancy. Capitalixe specializes in helping medium to high-risk industries obtain market-leading fintech, payments, and banking solutions. Lissele has been recognized by the industry multiple times, she was named in Forbes' 30 under 30 Finance list and won Rising Star of the Year at the UK FinTech Awards 

👉 You can find Lissele here:

• LinkedIn: https://www.linkedin.com/in/lisselepratt/
• LinkedIn Capitalixe: https://www.linkedin.com/company/capitalixe/
• Website: https://capitalixe.com/

👉 And you can find Monica here:

• LinkedIn: https://www.linkedin.com/in/monicamillares/
• Newsletter: Innovating FinTech: https://www.linkedin.com/build-relation/newsletter-follow?entityUrn=7062789745407340544
• TikTok: https://www.tiktok.com/@moni_millares
• YouTube: https://www.youtube.com/@moni_millares
• Website: https://www.moni.millares.com

If you enjoy this pod, please follow and leave a 5 star rating on Spotify and a review on Apple podcasts!

In this Purpose Driven FinTech episode we cover:

(0:00:00) Purpose of Capitalixe: Provide reliable payment and banking solutions to businesses globally

(0:08:14) Underserviced industries, jurisdictions and medium and high risk businesses

(0:13:32) What makes a good product

(0:15:45) Framework for assessing tech partners

(0:19:18) How Lissele got on the Forbes 30 under 30 list

(0:22:01) Overcoming the challenge of lack of experience

(0:23:18) Challenges of being a young CEO

(0:26:25) Company culture and values: teamwork and celebration

(0:28:09) Remote work and freedom as a core value

(0:33:03) Suggestions for promoting diversity in fintech

(0:37:00) Male dominance and challenges in the payments sector

(0:38:59) Importance of transparency for customers, staff, and shareholders

SEARCH QUESTIONS

• What are medium and high-risk industries in payments?
• How do high-risk businesses get payment solutions?
• What is financial inclusion for underserved industries?
• How to find payment providers for high-risk businesses?
• Why do some industries struggle with banking access?
• What makes a business high-risk in payments?
• How to match businesses with specialized payment providers?
• What are the compliance challenges for high-risk industries?
• How do payment service providers assess risk?
• What is the role of consultancy in FinTech payments?
• How to serve underserved jurisdictions in payments?
• What payment solutions exist for Eastern Europe markets?
• How does compliance monitoring work for high-risk sectors?
• How to build a global network of payment providers?
• What transparency practices improve FinTech customer experience?
• How to scale a FinTech consultancy business?
• What are the barriers to payment access globally?
• How do specialized providers cater to niche industries?
• Why is diversity important in FinTech?
• How to create an inclusive financial environment?

—

Production and marketing by Monica Millares. For inquiries about supporting or sponsoring the podcast, collabs or guest appearances email Monica at fintechwithmoni@gmail.com

Disclaimer: This episode does not constitute professional nor financial advice and does not represent the opinion nor views of my current, past or future employers; nor those of the guests. The guest has agreed to record and release our conversation for the use of this podcast and promotion in social media.

Lissele Pratt (Capitalixe): Hey, Monica. I know it's so nice to have to finally get a chance to go on a podcast with you and yeah, I've been following you for ages as well. You're super amazing. I see all the great stuff you're doing in FinTech and yeah.

It's just so great to connect with an inspiring and kick house woman in the industry.

Monica Millares Just like you. Thank you. Because you're also doing like all these amazing things. So these should be a very fun episode,

Lissele Pratt (Capitalixe): I think. Yes, definitely.

Monica Millares So let's get started with what I call a little speed dating exercise, so that then we get to know you a little bit better.

Mm-hmm. So can you tell me what's your favorite holiday so far?

That's, that's my ideal holiday. Switching off and living, like going back to basics. It sounds lovely.

Monica Millares So what's your favorite food then? Is it Thai?

Lissele Pratt (Capitalixe): Oh yeah, definitely Thai food. Maybe I'm biased, but I love Thai food. I find like all the fresh ingredients are so nice and I find it quite healthy as well.

I love spicy food, like I can eat super spicy. So yeah, definitely Thai food and I always ask for like extra, extra spicy when I'm there they look at me like are you okay? Are you sure? Yeah. I'm like, no, I'm tired. I'm sure.

Monica Millares So while we're on the topic and speed dating stuff, If someone is about to go to Thailand, where do they have to go?

Lissele Pratt (Capitalixe): okay. I would say definitely check out Bangkok. I know it may not be everyone's cup of tea, but it's a really, it's like a city like no other. It's intense. It's got everything. It's got amazing rooftop bars. It's got super luxury if you like luxury, like the amazing rooftop bars, amazing hotels.

But it's also got like down to earth kind of places like Street huts, street Mar Street, food markets. So it's got a mixture of everything, and I think it caters to everyone's desires and, and yes requirements. So yeah, I would say definitely check out Bangkok for a few days and then head to Nice Island like Koa movie or like Pettet.

I love Pettet. It's, that's also the same. It caters to everyone's needs. So if you want to go cheap, you can go cheap. Or if you wanna go luxury, you can have luxury. Awesome. Cool.

Monica Millares Yeah. Yeah. So what is your favorite book so far?

Hmm. Because I've learned all about the importance of creating financial freedom for yourself, and that involves obviously investing into different areas like property. So, I, I, I invest, I like to invest into property. I do that on the side and It's all about creating recurring revenue for yourself and ultimately creating freedom where you don't have to work anymore.

So I learned a lot. I, I first read that book when I was like 18. Mm-hmm. And then since then I'm like, oh, this is the money mindset that I need. And I think it's really helped me in business as well. Awesome.

Lissele Pratt (Capitalixe): So, For me, purpose in life has always been about what am I go, what am I doing on this earth?

Like what am I here to do and how am I going to create an impact in this world? And that's also helped within business. So for me, purpose has been about helping other people wherever I can. Improving the efficiencies and also creating. An inclusive and equal world. Mm-hmm. I'm very big on obviously equality and diversity, and I think I've been brought into this world to help create that change.

That companies all around the world, regardless of their industry and their location, obviously not sanctioned countries have access to reliable and reliable payment and banking solutions across the globe. And not just reliable ones, but ones that are gonna help them scale their business and take it to the next level.

Obviously this includes new FinTech solutions that that have come out making them known of that. And yeah, that's, I think that's also part of my purpose, helping to make the world a better place in, in one way or another. If, if it's through equality and diversity or if it's through helping businesses.

Actually help them to operate their business because if they don't have an actual bank account or a good payment solution, then they can't scale their business like without payments or a bank account you just can't operate. So, and why is

Lissele Pratt (Capitalixe): What the banking side or the Yeah, the I guess for me it was all about, Finding out rather than just working for money which I know a lot of people do, like just operating your business for money.

It's all about actually, what am I helping? Like I feel like when you have a purpose, you. Are more passionate about what you do and you are more likely to work harder, and it, it motivates you to keep going. So that was what I was trying to find in my business and in the industry that I'm operating in and in life as well, that that's what helps me become a good entrepreneur and, and help me to really scale my business.

Lissele Pratt (Capitalixe): Oh, thank you.

Monica Millares Can you tell us a little bit about your journey and how did you come up with the idea of starting Capital X?

Lissele Pratt (Capitalixe): Yeah, so it's, it just, it just really happened randomly actually. So, Initially what happened, me and my business partner, who's also my fiance so we met in the industry. We've been together for almost seven years now. We, we actually met we were working at the same company, on the same team and we discovered that there was a, like a gap in the market to serve.

Service the Underserviced industries, and not just the Underserviced industries, but also Underserviced jurisdictions in the world. So there's a lot of other countries out there that aren't getting access to reliable payments and banking solutions. Now in London for example, we are swamped with so many good FinTech products.

What happened was we dis, we discovered that there was a gap in the market to serve the under service industries. So yeah, we decided to set up a. A company that actually enables and specializes in that area where we help medium, we call them medium and high risk industries, where financial institutions or psps have deemed them as that.

Because if a compliance team aren't robust, not, sorry, not robust, but aren't experience in that specific area or that specific industry, it's gonna cause a lot of delays for their business. And obviously when there's delays in your business, then your business falls behind and you can't pay customers.

So it's all about. Matching these companies up with providers that are best suited to their needs and specialize in their, in their industry and can cater to what they're looking for. So how I started with it is, it was, it was actually on a plane to Thailand, my favorite place. And yeah, I just thought actually this kind of makes sense.

And then match them up with the providers that are best suited to their needs. Yeah. Given what they need. And it could just be that they, it may not just be one solution that they need. They may need an array of solutions and we'll put them in contact with the best ones. Okay.

Monica Millares So I have a question. You mentioned basically your clients are medium and high risk businesses.

Mm-hmm. Mm-hmm. What categorizes them as medium and high risk?

Lissele Pratt (Capitalixe): So they're more. Susceptive to I guess fraud within their business because they have high amounts of volume and transactions to make. So, for example, a company like an e-Money institution, they're categorized as high risk, even though they're, they're so financial institutions working with other financial institutions because of the large amounts of money that they're both using, it's.

What also makes it high risk is the com, the a m L procedure, the k y c. It's a lot of work for a compliance team to, to manage and monitor. So the companies that we're introducing them to have robust. AML and KYC procedures, they have the good technology for that to cater to these types of industries.

Monica Millares So just to summarize, Basically what you do is you do not provide the financial services to the businesses, but you kind of connect them with a network of businesses that can cater for their

Lissele Pratt (Capitalixe): needs. Exactly that. Yeah. Correct.

Monica Millares Cool. And then how do you think about your product? Like what makes. Your product a great product, which is not a product, it's not a tech product.

It's more like a service.

They're protective with tier one banks. Also the solutions that they can offer. So an array of FinTech products that are gonna help our clients scale their business. So that's, I think that's how we see product. Also the efficiency of their service, how quickly the funds get delivered, if there's any delays or any.

Issues on the backend system and also the customer service, because in today's world in FinTech, if you're not delivering a good service, they're gonna go somewhere else. So this is what we do when we're finding or taking on new providers for our clients. We ensure they they tick all these boxes, yes.

And then we'll move on to the negotiation stage and bring them on as a provider that we can introduce to our clients. Cool. So

And then we have to do all these due diligence on, on the vendors and then partners, I'd like to call them partners. Mm-hmm. And then basically assess them and then, Decide who is the best band partner for what we're looking for. Mm-hmm. Seems like you're an expert in assessing partners. Exactly. Yeah.

Yes. So yeah. What could be your framework? Like what is it that we can use and you're like, Hey, these are the five things that you have to do when you're assessing a partner, a tech partner.

Lissele Pratt (Capitalixe): So, For FinTech, specifically security of funds, you need to make sure that they're regulation, the, they're at a very good regulation.

Oh wow. Yeah. So, and then when they come to us, we consult them and tell them what they should be looking out for and ensuring that. M obviously mentioning that the security of funds and the regulation where they're regulated. So obviously, for example, the UK has robust compliance procedures. The FCA regulation is probably one of the highest in the world.

So looking out for going for countries where you know, that they have high regulation standards. So for example, Singapore the uk, France, Germany a lot, most of Western Europe have robust and Compliance procedures and regulations. So in that area you can trust you can trust their services.

Do they, do you do any of the compe? Are any of their competitors using them? So for example, if you know someone that's already using their service, then that's you and the the everything's running smoothly, then you're gonna feel more confident using that. So sometimes we'll have within a certain industry clients asking do any of our competitors use them?

And we'll say yes. And obviously we are under nda, so we'll have to ask them. Permission to share contact details. So, yeah, it's all about looking out for how reputable they are in the industry how long they've been established who they bank with as well. So if they're banking with tier one providers like Barclays or h s bbc, then you know, for example, there's obviously been a lot of backlash recently with Signature Bank and, and everything else where they've collapsed.

Monica Millares Interesting. Yeah. I hadn't thought about the who they bank with. But yeah, that is, yeah, that is key. Yeah.

Lissele Pratt (Capitalixe): So if a provider's banking with a tier one provider, usually what happens?

Well, what always happens in a, in a good regulated provider is the client money is held in tier one, segregated client accounts with, for example, Barclays or H Hssbc. So that means they're. Funds are fully protected with h. S bbc. That means that the provider can't exactly use that money for anything else, that they can't use it for investment purposes or anything.

It's there for that specific use client money. Okay,

It's like, what was so amazing about you that were like, whoop, whoop, I'm in the list.

Lissele Pratt (Capitalixe): You know what, when I first got it I actually thought I was dreaming. I actually had to slap myself. I always say this, I had to slap myself because. I was like, oh my God, how can someone like me get on a, like a, an amazing prestigious list like that.

It was honestly like, I think I cried as well just because for me, I started my business at the age of 23 where no one believed in me and I wasn't taken seriously enough in the industry. I was a young female woman, like I was a young woman entrepreneur that's in FinTech where it's male dominated. And I wasn't taken seriously and to have that recognition for me it was like actually, I can do it, and I've got the backing of Forbes that have said, well, it's basically adding substance to what I can do and proving myself in the industry.

I don't, it doesn't. And maybe some people might think, oh, maybe they won't take me seriously enough. No, this is what I need to do to be taken seriously. I need to put myself out there and, and share my challenges and experiences with people and have a community and support that are there for me. And I feel like I have a, like a young energy, so I have a new way of thinking.

And yeah, it was it's a great. Backing for me. Yeah. And I'm here to do good things. I'm not here to just make money. I'm here to actually make an impact and serve my purpose. Good.

Monica Millares So I'll challenged you probably, this is like a common question that you get a lot. So for young peop, young entrepreneurs get this a lot.

So this idea of at a young age, yes. You have a lot of energy, you have a lot of of drive, you do not have experience. Mm-hmm. How do you answer to that question or challenge that I'm sure you get it all the time, that it's like, hey, especially when you're started, you were like 23, 25. You have like zero experience.

Lissele Pratt (Capitalixe): So when I first started at 23, I already had five years of experience cuz I started at 18. So I guess, I mean, I still had the expertise there, but for me it was all about, I didn't, like, my age didn't really matter to me.

It was all about serving a purpose, which was helping these companies. Obtain the right payment and banking solutions for their business, and it was also delivering on the results. When I showed results, then companies started trusting me and they started wanting to do business with me, and that was always my aim.

Delivering the results that these companies need, and then the results speak for themselves. Right. Cool.

Monica Millares So it was results oriented. I always say that as well, but I'm like, yeah, results oriented. How do you, I'm like, whoa, I just. Work well.

Lissele Pratt (Capitalixe): Yeah. Just deliver on your results and then let the results do the

Monica Millares talking.

Lissele Pratt (Capitalixe): Yeah, I mean, definitely age. As mentioned at 23, I wasn't taken seriously enough. It was tough but I stood my ground and persevered. Yeah. Now I have sub substance to prove I'm worth taken seriously for in this industry.

Also another thing is I have a D H D which which also comes with its fair share of challenges. But I've got a good team around me. I've got an amazing pa. Who knows of my condition and she helps support me in the right way, and my team will know it as well. So they can sometimes say like, oh, this is Elle's, A D H D, brain going again.

And then the other saying, oh, I've got a D H D, therefore I'm an amazing entrepreneur. Yeah, there's a two sides. So yeah, tell us a bit about the two

Lissele Pratt (Capitalixe): sides. Yeah, so you know what, I actually never mentioned, like I, you probably see I've never actually mentioned the fact that I've got adhd. This is probably the, the first time on a podcast because of the, the exact reason, like Oh, mm-hmm.

But I mean, there are my, my business partner my fiance, he definitely sees the difference between me and him. There's definitely good sides of it. But I'll, I'll tell you like this, the areas that I do struggle with, which is paying attention, like it's, it's in the, the word, so attention deficit, hyperactive disorder.

And then obviously there's really, really good sides. So if I'm, I'm, I, I would say like I'm the visionary. Entrepreneur of the business. I'm always thinking ahead, like what areas can we innovate? Where can we take this to the next level? What strategies can we implement? That, that are gonna help grow the business.

So I'm always thinking of those like creative ways and I don't just go from what the industry is doing. I do, I also do it differently because of my, I feel like my, my mind has helped me to, to think differently. So there's that, and there's also the hyper focus that I get. So when I'm specifically interested in a project I'll spend the whole day and night working on it, and I won't.

Monica Millares Cool. So it's like hyper focused. Yeah. So then how are you building your company culture?

Lissele Pratt (Capitalixe): So we have, so company culture is definitely a big thing for us.

I think for me we have. So our, our, our values are what we have, values that we have in the business, which we always ingrain into our employees. And we all essentially like eat, sleep, breathe it, which is teamwork makes the dream work. So we always go on about if we're working as a team, helping each other, supporting each other, then we're all going to succeed together.

I mean, we all work hard. I think my team are very results driven as well because when they deliver results, they get a lot of incentives. We celebrate a lot together. That's important. Yeah. Yeah. We love to celebrate, go out for nice dinners drinks. So yeah, I think that's very important.

And also ensuring that the wellbeing of our employees is, is important as well. I always check in on them and like how they're doing with their mental health, how. How everything's doing. We offer. Paid mentoring here and also paid therapy if they need it. Mm-hmm. We also have this thing called dove days.

Monica Millares Cool. Yeah. So it seems like you're building a balanced culture of high performance and wellbeing.

Lissele Pratt (Capitalixe): Yeah, exactly. And I feel like I'm also promoting a lot my. Values of, of myself as well, which is freedom is the ultimate success. So we're a remote, working remote first work from anywhere company. And this all has also allowed us to hire working mothers as well. Who can't actually go into the office because they have young kids to look after.

And a lot of, well, me, me specifically, I love to travel the world, so I love to work from wherever. And there's part my team that like to do this as well. And I feel like it just gives that extra level of freedom. And I feel like when you feel like you're free, you have the success, you feel like you're your own person again.

Lissele Pratt (Capitalixe): Important. Exactly. Like when I was working in, in the city of London.

I mean it, I had the best experience. Like the city life was great, but I think what was getting me, like why I wanted to create this type of company was because I wanted to have that freedom. I didn't wanna go on a tube every morning when it's raining outside or gray to go into an office and then go back when it's dark again.

I want to. Living a nice sunny place in Portugal, for example, where I can go to the beach have some nice wine or seafood I wanna explore and like migrate to Thailand when it's winter. You know, I want, that's, that's freedom for me. I

Monica Millares like that. I like that approach that it's like, Hey, I don't need to be.

In the cold weather.

We're gonna travel and also work so,

Monica Millares I like that. I'm like, I'm not going to say no to that. It's like I like, I like that culture. Yeah. Cool. So other than flexibility when it comes to diversity in FinTech, what are your thoughts? And I'm very happy to go deep on this one, not surface level. Hey, we need mentoring.

Lissele Pratt (Capitalixe): Yeah. So there's a lot of noise happening right now. I think it's a big topic, like more and more women are.

Becoming, getting to senior level positions and they're doing their part to create change and make an impact and, and share their voice. And I think there are definitely companies that are implementing this. But I also think there's quite a few companies out there that just like whenever, I don't know if they hear it, they just block it out.

They don't, and I think Interesting. Yeah. And I think what these companies need to understand that it's not just diversity or equality in the industry. It's not just to make the world a better place. It's actually gonna help your company perform better and outperform your competition. And there's a lot of studies out there.

If you are, if you all look the same and think the same, if you're just a room full of white men, same age, you are not gonna have a diverse way of thinking. You're gonna be just. It's not gonna help your company outperform your competition and get better. And I think that's crucial in, in, if you want a successful company, you have to have diversity.

Yeah.

Monica Millares So I think we all buy into the diversity. We all need diversity. Yes. Yeah. We buy into the whole thing. And the McKinsey thing. Mm. Can you give us, like, you say, results? Can you give us suggestions on how to go about it?

People speaking up about it, like for action to take place. People who have experienced the adverse effects of non diversity, I think it's important for them to share their experiences. Mm. And for people to see the ones, I guess for, for men to see. And specifically because now we're talking about obviously the lack of women in the industry, what we've gone through the challenges that we faced and.

Why it's important to, for us to have a better working environment. Because if we don't have a good working environment, then how can we thrive? How can we be our best authentic selves? How can we really put ourselves to that fullest potential? If we don't have a nice environment to work in, then how are we gonna be the best we can be?

I didn't have any female, like senior role models around, and I just felt so left out. I, I just didn't feel like I belonged and I was told by the men around me that women don't belong in this industry. Oh, wow. You were told that? Yeah, I was told that. Mm-hmm. So I, I started to think that, and then there was this lady that actually came a senior lady who, who, who I was paired at.

Pair them up with another lady from a different company or, you know, there's mentoring platforms. Are there like mentor crews, there's wise up, there's so many mentoring platforms. If you can pair them up with a senior level person, then that's gonna really help them to feel like they have a sense of belonging.

And then when you feel like you belong, then you can actually do your job and you won't feel the self, like you won't have a lack of confidence. And the feeling that you don't belong. Cuz if you feel like you don't belong, then you're not, it, it just, you're not gonna do a good job. Yeah. I've

Monica Millares nev that's a very good point.

Lissele Pratt (Capitalixe): Yeah, I mean, there was a lady in compliance. But that's, that's about it. Like I, I couldn't really speak to her either.

Monica Millares I, I hope. That doesn't happen much these days.

Lissele Pratt (Capitalixe): Yeah, I know, I know. And quite honestly, I think it does when you I've had a look at some small payments companies on LinkedIn and I see they're just men, like smaller ones and yeah.

And I've, I've, I've got some friends that have their own payments companies, and I'm like, do you have any women on your team? They're like, yeah, we, I mean, they don't have senior women, but they just have like junior level women. I'm like, oh, pair them up with me. I'll help mentor them. I, I, I'm like, without no intentions, I just wanna help because I know how the feeling is.

Monica Millares You know? Yeah. That sounds like a horrible feeling. Yeah. I've never had that. Like, do I belong in this industry? I've never felt that before, but I think it's gonna be horrible to feel that.

Lissele Pratt (Capitalixe): Yeah. And being told by your teammate that women don't belong in this industry is, that's a killer.

Yeah.

Monica Millares Yeah. That is. That is just bad, unacceptable behavior, whether you're a man or a woman. Like it's just not being a nice human to tell someone You don't belong here. Yeah. Like, come on. What's the. What's the company culture here like?

Lissele Pratt (Capitalixe): Yeah, it was like, it. The, so the industry, the specific sector in FinTech that I work in, payments, foreign exchange, like deliverable effects, it is very now dominated, especially on the actual sales floor.

But now that I'm progressed, I'm more senior. I've got my own company. I'm like, no, that's not normal. That's, that's just, that's not acceptable really.

Monica Millares No, that sounds just not acceptable. Like you cannot tell someone, you do not belong here. I'm like, what are you talking about? We're a team. Yeah, I know.

Okey dokey. So as we get towards the end of the episode, if you were to change one, one, just one thing in FinTech to make FinTech better for customer, staff and shareholders, what could you do?

If you're transparent with what's happening in your business, then the cu your staff are gonna feel more comfortable there if you are. Letting them know what's happening, like what are the next steps, like what's happening in your business, rather than having that hierarchy or they don't need to know that.

It's gonna create a more inclusive environment. And yeah, especially for customers if you can't offer them a specific service. Don't just ignore them. Tell them why, because that happens a lot in the payments industry. If they can't cater to a specific client, even though they've been speaking with them, they'll just ignore them and not reply to them.

So it's horrible. It's horrible. Yeah. It doesn't create a nice, it creates adverse me, like adverse media within the industry. Right. So yeah, transparency and being, just being a good person. Just, yeah. Yeah.

Lissele Pratt (Capitalixe): good people. Yes. Yeah, exactly.

Yeah. We are good people. And yeah, I think just being honest with your customers, if you can't service them, then just let them know. Yeah.

Monica Millares As simple as a, yeah. Transparency. Mm-hmm. Can take us a long way. Mm-hmm. Well, it's been a pleasure having you in the show, Desel. Thank you so much. Where can we find more about you and capital likes?

Lissele Pratt (Capitalixe): Yeah, it's been such a pleasure speaking with you, Monica. Thank you for having me. You can find us on our website, which is capitalized, capitalized.com. Obviously with an x or you can connect with us on LinkedIn as well. Same name. You can also connect with me on LinkedIn. If you wanna reach out for any questions, I'm always here.

And happy to help open for

Monica Millares mentoring too. Open

Lissele Pratt (Capitalixe): for mentoring.