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How to be an Entrepreneur in Fintech - Contributor Yunlong Interviewed Fintech-Expert Mi Kuang

Written by: Yunlong Wang, Executive Contributor

Executive Contributors at Brainz Magazine are handpicked and invited to contribute because of their knowledge and valuable insight within their area of expertise.

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According to the Wharton University, “China has been at the forefront of fintech growth and is the largest fintech market in the world”. Yunlong Wang (CEO of Vikcess), interviewed Mi Kuang, who is an expert in the Fintech industry, to explore his professional experience and the development of fintech in China.

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Yunlong: Tell me more about yourself?

Mi: – My expertise is in the field of financial technology. Since 1994, I have worked for the Bank of China and IBM. I was one of the top technical experts in IBM China. In 2014, I joined the preparatory group of Shanghai Huarui Bank and successively served as the general manager of the IT department, and director of the Digital Business Unit. Since 2019,. I have been the CEO of Shanghai Nudge Technology, which is my startup company.

Yunlong: Based on your work and entrepreneurial background, which label do you prefer? Technology or Finance?

Mi: – I think it's mixed, but more about technology. Finance is formidable, and it is rigorous, does not allow mistakes, while technology is used to break through barriers and constantly innovate, which fits my personality and background very well.

Yunlong: Try to describe yourself in only three words.

Mi: – I think: creative, adventurous, and passionate. I'm always motivated by things I eager to do.

Yunlong: In your opinion, what is the future of Fin-tech in China?

Mi: – The open banking/financing will lead the digital transformation for the financial industry with the next few years. At present, cloud computing, big data, artificial intelligence, blockchain and other emerging technologies have been widely used in the financial field in China. In fact, Fintech is developing very rapidly. It is changing the ecology and service mode of the financial industry. What is more, it has derived a series of emerging financial business fields such as Internet banking, Internet insurance, internet securities, consumer finance, online credit reporting, and third-party payment. The ‘Financial Infrastructure’ has been built up.

– At the same time, we can see that Fin-Tech is developing further from consumer finance into corporate finance, which is exciting.

Yunlong: What do you think are the future challenges of Fintech in china?

Mi: – In my opinion, firstly, each technology application term has its own cycle, probably 5-10 years. From technology research to maturity stage, then participate in the fierce competition in the market, and finally, the surviving valuable innovation has the chance to get a large-scale market application. Secondly, while the financial industry is pursuing technological innovation, information security and management will become a major challenge. Thirdly, although some emerging technologies have broad prospects, such as blockchain, they still suffer multiple constraints.

– Therefore, what I learned from so many years of work experience, is that the perfect combination of technology and finance needs external help to boost it, aiming to help technology transformation to serve the industry better. That's the main reason why I founded this company

Yunlong: What was your vital driving force to become an entrepreneur?

Mi: – To tell the truth, I have been working in large companies for quite a long time and would like to try something new. I want to pursue adventure constantly, to prove my creative ideas. So, I was excited to start my own venture. I like to pursuit challenges, keep making mistakes, and then upgrade to the next level.

Yunlong: What is the biggest change in your mind after becoming an entrepreneur?

Mi: – I think it should be a sense of risk and responsibility. As a professional in a big company like I did before, the risk you take is quite limited. But now, as the leader of a company, you may exposure to 100% in potential risks and should have a whole vision to take responsibility to win the trust of your teammates and your customers. That is the biggest change in my mind.

Mi: – In fact, I learned a lot from IBM. The autobiography of T.J. Watson gives me lots of inspiration about doing business and running a company. On the other hand, I'm a fan of Peter F. Drucker since I just started my career. I read his books, which had a significant influence on me at that time. After that, I was obsessed with Professor Clayton Christensen's disruptive innovation theory, which has reshaped my personality and made me more creative and adventurous. It is also the biggest spiritual motivation for me to choose entrepreneurship. I'm currently reading the "Black Swan" by Nassim Taleb. Due to the epidemic in this year, it has dealt a serious blow to the global economy. We should sit down and keep calm, seriously think about our future, and deal with the unknown risks.

To learn more about Yunlong, you can visit his LinkedIn or contact him at:

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Yunlong Wang, is apart from being the CEO & Founder of Vikcess Business Group, also a VC, Writer, and Startup Coach. His main focus is on how the innovation tech changes the business and our world. He devotes most of his time to innovation management, achievement transformation to adapt new markets, technology transfer to apply in a wide range of industries, and startups acceleration with the support of capital. He is playing the role of a bridge, as Vikcess does, which connects Europe and China, to pursuit communication, collaboration, opportunities, and the future.



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