Unless you've been living under a rock the past year or so, you've probably heard about Horde. The startup started its journey with us in 2019 and has since grown from a one-man show to a diverse team of 18 employees. The team at Horde is known for challenging established banks in their compliance towards PSD2, and in this member's spotlight, we talk to none other than Horde's own Chief Compliance Officer, Silje Algrøy, about what it's like to work in a fintech company that’s both innovative and heavily regulated.
Members' Spotlight with Silje Algrøy
What's your biggest pet peeve?
When people enter the bus before letting others out.
Any book or author that has inspired you?
“The achievement habit” by Bernard Roth.
What could you talk about all day?
Compliance obviously, but lately I also discovered Formula 1. It’s a bit of an obsession.
Name one thing about yourself that your LinkedIn profile doesn’t tell us.
I once won the National Championship playing cornet. My skills have declined over the years though.
Do you have any guilty pleasures?
What is your favorite Twist (chocolate), and why?
Chocolate toffee. Duh, it’s the best!
What is it like to be the only one working with compliance in a fintech company that’s both innovative and also heavily regulated?
I would lie if I said it was easy, but then again, I think the role of a compliance officer never is.
When developing innovative services in Horde, we often find ourselves “ahead of the law”. You must find a way to ensure that the company complies with existing regulations, and at the same time be able to think outside of the box. This is a continuous balancing skill and I get to challenge myself every day.
Where do you see Horde in two years?
I think the company will create a new position in the market as an independent third-party, making user-friendly services as well as cooperating with banks. Also, I think Horde will be the Norwegian “go-to” app for personal finance, and with that, we may have to recruit a few more compliance officers!
What has been Horde's most important success factor thus far, and what do you think it will be going forward?
The team. Employees at Horde are given a lot of responsibility. Creating a culture where the team feels ownership of the product is important for motivation, not only when things go as planned but also when it doesn’t. Starting a business doesn’t happen without surprises, something Horde has experienced more than once. Having a dedicated team that is willing to lay down the work is crucial to overcome obstacles along the way.
What’s the best thing about your job at Horde?
Being part of a startup. It takes a lot of effort, but in return, it’s twice as rewarding when you reach your goals. Did I mention I have awesome colleagues?
Also, getting the opportunity to impact the industry, as one of few Norwegian companies with a PSD2-license.
Are there any fintechs that you look up to and have been impressed by? If so, why?
There are many impressive fintechs out there. Personally, I have embraced new ways of saving in my daily life. For example, I love how the Kron app has made savings and investments easy - something I thought of as a hassle before.
Who would you nominate next, and what would you like to ask them?
Stine Neteland, CEO of Stacc X.