News

An Interview with Bernard Teo from YouAdMe

An Interview with Bernard Teo from YouAdMe

Tell me a little bit about yourself.

Born and bred in Singapore, I had a strong foothold in the Media and Entertainment industry for 20 years. I started my entrepreneurship journey with a Digital Media Agency in 2008, amassing an array of homegrown and International brands under my belt. I further propelled my digital media solutions into Cambodia 2 years ago.

In your 1 min elevator pitch, how would you best describe your Fintech Solution?

Today’s retail is going through difficult times and is suffering the consequences of the digitisation of society. Fundamentally, there is a bigger problem: stores cannot keep up with the changing behaviour of consumers who are connected 24/7. Retailers urgently need to innovate if they want to stay relevant in a world dominated by online marketplaces and sharing platforms.

Technology and innovation are the drivers for FinTech, but the future of FinTech lies in ability to sustain businesses long-term. YouAdMe helps to improve businesses by connecting retailers directly to consumers, allowing smarter decisions through sharing of feedback so businesses can deliver a higher standard of service to consumers, facilitating high value and recurrent transactions within a single platform.

What inspired you to start YouAdMe?

YouAdMe was not born out of the blue. It was an idea that evolved from my original intention to create value for businesses and consumers.

Having witnessed the transformation of the media landscape, and the automation of the media industry with technology, I felt that regardless of the platform, digital or traditional, media was built for one thing – communication. I wanted to reignite the conversation between brands and consumers, for a sustainable long-term solution and value add to the buy and sell marketplace that ultimately existed to cater to customers.

What did you wish you knew before you started your first business?

Too many cooks spoil the broth. Business partners may share the same goals, but if your values are not aligned, it is very difficult for the business to move forward.

How do you see the current Fintech industry and what do you think of it in the next 5 years?

Fintech is no longer exclusive to the financial sector. In the past, people would associate the term ‘Fintech’ with financial institutions. However, today, with the automation of goods and services, Fintech is a term widely heard and implemented in all areas of our lives. Fintech is technology and innovation used to make our lives easier with seamless transactions. I believe that in the next 5 years, Fintech wouldn’t even be a term but would have become a way of life.

What was the greatest challenge you’ve faced with this start-up?

To identify the best vehicle for Fintech innovation and high quality user experience.

If you had one piece of advice to someone just starting out, what would it be?

Many people think that the hardest part of a start-up is fund-raising, so much that they lose sight of what the business sets out to be. It is important to stay focused on creating value. Because when you create true value, your business becomes a need for society, and not some fancy ideal to cater to the businessman’s ego.