Checkbox, a fintech firm, is the center of interest for various Australian startup founders and investors.
Thanks to the efforts of various startup incubators in Australia, the fintech industry, which attempts to apply digital advances to current financial modes of operation in order to improve the quality of financial services, is becoming much more well-known.
CEO Evan Wong’s innovative business, Checkbox, automates complicated rules into cloud software without the need for developer code.
In this article, we highlight Evan Wong’s and his Checkbox startup’s success story.
About Evan Wong, Fintech Startup Checkbox CEO
Evan Wong has more than ten years of experience leading businesses in several industries. Evan is the creator and managing director of Hero Education, a tuition company that creates and manages tutor networks for students, in addition to being the CEO of Checkbox. at addition to working as a consultant for Social Impact Hub, he has also held executive positions at other businesses.
“I love doing startups because the work is very challenging, diverse, and rewarding. It is amazing to be able to create something new and find other people as well who want to join you on your journey and vision to deliver value to customers and solve big, hairy problems for the world”. said Evan Wong
Achievements So Far
A revolutionary idea from fintech firm Checkbox is to digitally translate lengthy and difficult rules (such as tax, audit, governmental regulations, and legal documents) into easily understandable software.
Businesses can save money thanks to this conversion, which also creates new revenue sources through monetization possibilities.
Checkbox has garnered praise from critics and won a number of important accolades as a result.
“Checkbox has won a series of accolades both in Australia and globally, including RegTech of the Year at the Australian Fintech Awards, the Westpac Innovation Challenge, the Next Money Fintech Finals, and StartCon’s Pitch competition which has Checkbox representing Australia at the Startup World Cup in San Francisco in May this year.” Evan Wong added.
Secret to Building The Right Team
Hiring the appropriate people is essential for a business in the financial sector. Utilizing the appropriate technologies is crucial, but it’s also crucial to foster a culture that values innovation and customer happiness.
Evan responded when asked what the key was to creating teams:
“Finding a technical co founder was the most important decision when it came to building the team.”
Such a choice meant that teams could work effectively and conflict-free while also assisting in the alignment of technical and business goals.
First Idea That Got Rejected
Not everything goes well right away. Entrepreneurs must ascend a number of ladders in order to sharpen their thinking and find their game-changing concepts.
Evan’s experience working for finance start-up Checkbox is similar. Evan tried to update employment compliance regulations for small firms before coming up with the notion of putting legislation into software, only to discover that it lacked a revenue model.
In other words, nothing gives rise to good startup ideas. Instead, they serve as the foundation for preexisting concepts.
Mistakes Every Startup Owner Should Avoid
The extraordinary success of Checkbox in the fintech sector is proof of the originality of the concept and the quality of its execution.
When asked about the most common entrepreneurial mistakes, Evan responded:
- Diving straight into building your idea before you validate the need for your solution.
- Giving away equity too lightly because it is currently worth nothing.
- Spending all your time at events and meetups instead of building your product and company.
Advice for Startups
Evan has accomplished a remarkable feat in his long career as the CEO of financial firm Checkbox and the founder of numerous other businesses. His accomplishment is a great source of motivation for aspiring entrepreneurs.