Faisal Husain, co-founder and CEO of Synechron, is the recipient of the FinTech Person of the Year honor for 2017. In the Q&A, Husain provides insight into his business philosophy and where Synechron will be in five years.
(Editor’s Note: Financial Technologies Forum (FTF) recently held its gala event for the winners of its awards competition for post-trade securities operations, the 2017 FTF News Technology Innovation Awards. This year, voters selected Faisal Husain, co-founder and CEO of Synechron as the FinTech Person of the Year. The award recognizes an individual who has been highly effective in advancing a financial technology issue and has impacted the securities operations industry. A self-described technology evangelist and solution architect, Husain is responsible for the vision, strategy and service offerings of Synechron, a financial services consulting and technology services provider. Among other achievements, the company has launched the Financial Innovation Labs (FinLabs) that enable financial institutions to experiment with digital technologies in an “immersive, experiential environment” that has spawned the launch of Synechron’s six blockchain accelerators. The accelerator programs are helping financial institutions hasten the progress of distributed ledger technology (DLT) and artificial intelligence projects. Husain is also credited with advancing the outsourcing paradigm for the industry. Before Synechron, he led the technical development of enterprise-level applications for major firms such as Merrill Lynch and Dun & Bradstreet. Husain took time out of his schedule to answer questions from FTF News.)
Faisal Husain, co-founder and CEO of Synechron
Q: Can you share an anecdote that shows you working out a situation for Synechron that was steeped in conflict?
A: While concentrating on Synechron’s growth story, there have been numerous instances where difficulties did crop up.
Balancing what’s right for shareholders, customers and employees is crucial in developing a successful business.
A “one size fits all” scenario is never the case. What’s right for one group may not be right for another.
For us at Synechron, it is always customer first, employees second and shareholders third. Some companies put the shareholder’s interest first and while that may sound logical it often leads to short-term gains and long-term losses.
Q: Please share with me something about yourself that you’re attempting to improve. How do you think your efforts at Synechron would change if you accomplished your goal?
A: It’s imperative for a professional to keep evolving and attempting new endeavors to ensure complacency is taken care of!
As Synechron continues to grow at a rapid pace both in revenue size as well as geographical footprint, it is important for me to put in the right management practices that will continue to enable not only agility but also the right level of discipline and formality when it comes to decision-making.
Getting this balance right is going to be critical for our future growth.
Q: How did your parents influence you? What lessons did you learn from them that help you in your guidance of Synechron?
A: My parents ensured that they taught me humility, humbleness, empathy and respect for the opinion of others. The fact that my parents practiced a noble profession — education — my mother was a school teacher and father was a principal — did ensure that I learnt the value of modesty and living a simple life.
Having said that, my parents’ guidance and a global view since the very beginning was instrumental in me becoming a risk-taker, albeit calculated at times.
The mantra that I always follow is to “Stay Grounded” and not let success get into my head.
Q: What were the biggest obstacles you experienced in your professional life? How did you overcome them?
Diana Kearns-Manolatos, Director of Marketing for Synechron, accepted the award on behalf of Faisal Husain
A: As I have already mentioned, numerous obstacles and difficulties did crop up while concentrating on Synechron’s growth story.
The biggest challenges are always the decisions where I have to make a decision that results in redundancies. These are very difficult personally to me but important for the business.
I’ve learned that when redundancies happen I need to be as generous to the people affected and treat them with utmost respect.
Q: What are some of the biggest epiphanies that made you into the person you are today?
A: I have always believed that rather than measuring accomplishments in a materialistic way, one must focus on aspects like admiration, love and respect one receives. I feel that’s what actually decides how successful you are.
This thought process comes naturally to me, thanks to my upbringing.
What compliments that thought process is a powerful quote by Theodore Roosevelt: “Keep Your Eyes on the Stars and Your Feet on the Ground.” That actually inspires me to keep achieving more while staying grounded at all times.
Having said that, I look up to entrepreneurs like Steve Jobs, who even after various ups and downs, climbed to the pinnacles of glory and created a mark for himself.
Q: How did you develop your life philosophy? How has that informed your leadership role at Synechron?
A: On the work front, my focus has always been on quality and customer satisfaction while adding value to our clients’ business.
I rely on a customer-centric approach, led by values and ethics that help in nurturing long-lasting relationships. This has been my motto from the very beginning and the same has been finely imbibed into Synechron’s DNA too!
On the personal front, I am guided by the simple philosophy of staying dedicated to whatever I am doing.
Furthermore, I make it a point to be receptive to logical arguments and new perspectives, which ideally help me enhance my personal growth.
Q: Where do you see yourself in five years?
A: Synechron as an entity is evolving and growing pretty well.
Heavy investments in innovation and emerging technology areas backed by organic as well as inorganic growth is definitely the theme for times to come.
I am looking forward to ensure we join the coveted $1 billion league and become one of the most respected companies known for its quality of deliverables, world class services in the digital, business consulting and technology sphere and most importantly, an employer of choice.
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