When it comes to looking for a solution that is out of your industry and surrounded by incomprehensible amounts of jargon, navigating a foreign industry can be made that much harder. Demystifying that jargon and delivering challenger banking and payment solutions on behalf of its customers is Lerex Technology, a fintech that bridges the gap between technology and payments. As part of Acquisition International’s CEO of the Month Spotlight in each issue, we are today highlighting the hard work of the firm’s CEO, Richard Ney.
Conceptualised in 2017 and founded the following year in 2018, Lerex Technology is a digital payment technology solutions provider, offering an introduction-level banking technology platform that enables agency banking and payment card solutions. Demystifying the jargon and advising clients on the best solutions for their market is just one aspect of the business, as it also seeks to run the technology itself and all operations. This way, the firm ensures that the customer can focus one hundred percent of their efforts on their core business, whilst also setting it up their own banking-like programme in just a matter of weeks.
Despite being based in Leatherhead, just outside of London, the service that the team provides has the potential to go well beyond the confines of the United Kingdom. As the fintech market in London has grown quite mature over the years with the rise of competitive banking companies such as Monzo, Revolut, and Starling, Richard and the firm has its sights set firmly on growing into the European market, and maybe beyond one day.
Upon on its foundation, Lerex Technology aimed to enable startups, and small and medium businesses within the financial market to launch their own challenger banking solutions. Through a carefully selected network of referral partners and industry events, the company approaches these fresh-faced financial startups in a bid to help them grow through the use of an innovative and exciting new technology.
However, trying to establish a business in the financial market can be difficult. The financial market is one where some of the smaller companies can struggle to get attention and traction with the current providers. Which is where Lerex Technology steps in. The firm takes the time to support each customer individually and comprehensively, ensuring that they get the service they deserve, no matter the size. Offering every customer the same impeccable level of attention and care, the firm holds customer support and service at its heart. It does this without compromising on its ability to be an approachable and reliable partner for new customers also.
It is this level of commitment to helping clients achieve their own success that has made the company so successful, alongside its easy, professional, and no-nonsense approach. The team is available all hours, ready to lend a hand with the technology that has been purposefully built as a highly available banking platform. Any customer can pick up the technology and begin experiencing success thanks to the in-house industry experts working at Lerex, who ensure that every customer gets the best advice for navigating industry regulations.
“It is this level of commitment to helping clients achieve their own success that has made the company so successful, alongside its easy, professional, and nononsense approach. The team is available all hours, ready to lend a hand with the technology that has been purposefully built as a highly available banking platform.“
Leading the firm into this new era of success is former chief technical officer, turned chief executive officer, Richard Ney. Richard is a living, breathing example of how to smash those stereotypes, pursuing technical and technological brilliance in a world that is becoming increasingly digital. Having been with Lerex Technology since the firm’s early days, there are few individuals with a better grasp of exactly what the company is capable of than Richard himself.
Prior to joining the firm during its conceptualisation stage in 2017, Richard had spent time accruing just short of twenty years’ experience in the technology industry. Beginning his journey with various financial companies as a software developer between 1999 and 2006, this budding CEO has since refined his expertise as chief technology officer in a multitude of startups that he has been directly involved with. Co-founding a great many projects, Richard’s breadth of topics includes wine from the Bordeaux region, stock exchange concepts, trading systems, and social networking for young music artists and producers.
If all of this was not impressive enough, for the past decade, alongside his ventures as a co-founder and an eventual CEO with Lerex Technology, Richard has served a number of companies as a freelance interim chief technology officer and tech advisor. With his keen understanding of all things tech, Richard has been a key freelance partner and advisor for firms such as Bitrater Group, Deloitte Ventures, Deutsche Bank, Inspired Gaming Group, GreySpark, and Greenline Financial Technologies. Then, in September 2017, his work with Lerex Technology truly began.
What initially started as another freelance technical advisor job quickly evolved into a more permanent role as chief technology officer. Having successfully advised the board of directors on all technical aspects, from software architecture and IT infrastructure, to short and long-term IT strategies, it became apparent that Richard had a keen mind for what Lerex Technology could one day become. After serving for almost two years as chief technology officer, he eventually took on his current role of CEO in October 2019, where he has remained since. His desire for technical precision has not wavered, and he often takes a hands-on approach in ensuring that the team has everything they need to create a sustainably successful piece of technology that companies all over Europe can utilise effectively.
Having come a long way in a short time, Richard is now one of the most experienced leaders when it comes to ensuring the success of fintech solutions, with a proven track record of business growth through innovation and a results-driven mentality. The next step for him now will be to continue driving the expansion of Lerex Technology, enabling fintechs and mid-size enterprises to enter the payments arena. In what is an increasingly digital era, Richard’s leadership and technical expertise continues to prove invaluable for the company moving forwards.
Having come a long way in a short time, Richard is now one of the most experienced leaders when it comes to ensuring the success of fintech solutions, with a proven track record of business growth through innovation and a results – driven mentality.
As the firm continues to grow and develop, there is one issue that they have noticed is also increasing as time goes on. The speed of innovation today is always a challenge, for any organisation, startup, or individual to keep pace with. As such, Lerex Technology offers a flexible development process which allows the firm to bring new features to market that much quicker. That is the vision of the firm; to bring new features and ideas to the end user, and make payments easier and more fluid than ever before. It is simpler than it has been, but there is still much to be done. From an outside perspective, it is exciting to see how the latest technology is being used to bring new ideas to market, and to see how the banking space is constantly evolving. For those inside of the industry with direct involvement in those evolutions, such as Richard and his team, the work goes on. We cannot wait to see what happens next.