In this interview, StartupReporter explores the journey of Andrei Sieedugin, a fintech expert and open-source contributor with 10+ years of experience in software development and product management, who is currently the Senior Frontend Developer at Payflows.

Fintech has grown exponentially, with revenues expected to reach $1.5 trillion by 2030. What do you think are the key drivers behind this growth?

Andrei: – Ironically, it’s because fintech products have become much more affordable. Many of these solutions have been around for a while, but they used to be challenging to set up and maintain, making them expensive and only viable for large corporations. Over time, they proved their value in reducing costs, so smaller businesses naturally wanted access to the same tools. Today, with a more mature IT infrastructure, we can offer cloud-based solutions that are both powerful and budget-friendly for companies of any size.

We’ve also matured as a society, and it is now normal to trust computers and smartphones even with sensitive areas of our lives, such as finances or mental health.

AI is increasingly integrated into fintech products. What are the most promising use cases you’ve seen?

Andrei: – I’d say it adds a new dimension. You can still build something great without AI, but these days, it often feels like it’s not quite enough. While this tech is on the rise, it’s worth exploring its limits and figuring out what meaningful value it can bring.

About 15 years ago, mobile apps were a big trend. Not every service needed one, but we experimented. Over time, useful apps stayed on our phones — others just faded away. I think we’ll see the same with Large Language Models. We’re currently testing possible use cases, but it’s hard to say which will truly stick. The good news? We’re definitely going to find out.

Many fintech users seek “one-click” solutions. How do you balance simplicity with the complexity of financial operations?

Andrei: – There’s no silver bullet, I’m afraid. The most important thing is simplifying what can be simplified. There will always be operations — especially in finance — that cannot be done with one click. But, if all the surrounding steps are smooth and intuitive, users still feel the overall experience is effortless.

Call it a cognitive bias, but “one click” often means “as few clicks as possible.” We just have to keep asking ourselves whether we have reached this minimum.

In your experience, what are the most common UX mistakes fintech startups make, and how can they avoid them?

Andrei: – I’d say the most common mistake is simply copying what happens in real life.  As I always say, it’s not enough to just use a screen instead of pen and paper; we can and should add something that makes the operation easier.

The best way to avoid this? “Eat your own dog food.” When a company uses its product daily, major UX issues become clear quickly.

You have experience working in early-stage fintech companies. What are the biggest technical challenges they face when building their first product?

Andrei: – The biggest challenge for any IT team in an early-stage startup is meeting the deadlines (tight ones!) without dropping the quality too low. Moving slowly will not let a company reach profitability, and having a very poor codebase might cost a lot during the scaling stage. And by “cost a lot,” I mean not just the time spent rebuilding the app but also the risk of churning users — which is far worse.

It might sound a bit unexpected, but honestly, one of the biggest technical challenges is hiring the right people from the start. 

What emerging technologies will shape the future of fintech interfaces in the next 5–10 years?

Andrei: – It’s possible that within the next decade, we’ll take another big step toward Artificial General Intelligence (AGI). Yes, Large Language Models are great, but they’re just one piece of the AI puzzle, and the following milestones might bring even more exciting features to the products we use.

And yes, when that happens, I might lose my job to AI. But hey — so could any of us.

Do you believe fintech will fully transition to mobile-first interfaces, or will desktop solutions always be needed?

Andrei: – I’m confident that fintech will always need a big screen for administrative tasks. That said, there will be more and more secondary use cases that can be solved with mobile interfaces. The finance team will use desktops, while other departments will probably shift to smartphones and tablets more.

And, if sci-fi movies have it right, we might eventually ditch PCs for something fancier, like floating touchscreen holograms. So, let’s just optimistically call it “big screen” instead of “desktop.”

What’s one fintech trend you think is overrated or overhyped?

Andrei: – Right now, AI is definitely overhyped and maybe even a bit overrated. As we’ve discussed, it’s not something bad; it’s just a stage in its evolution, but today, finding a startup that doesn’t use these buzzwords is close to impossible.

In a year or two, we will reach the point where we don’t need to mention AI — it will be implied. As a user, you don’t care what tech runs under the hood, and trust me, we use a lot of it. It’s a matter of time before LLM becomes another technology, and the “AI-powered apps” will transform into just “apps.”

What’s the most challenging aspect of your work?

Andrei: – The hardest part, I’d say, is keeping the big picture in mind. Of course, it’s possible to do your day-to-day job and move the task cards from “To-Do” to “Done,” but that’s not the best approach. By asking the right questions in advance, you might avoid having follow-up tasks like “Oh, and also, let’s change it here, too.”

Understanding how users will perform their everyday operations might allow the company to focus on more important features instead of polishing the existing ones based on user feedback.

Andrei, can you describe your journey into fintech and software development? What inspired you to pursue this field?

Andrei: – I consider myself lucky: I’ve loved programming since school, so making a career out of it was an obvious choice. At some point, I tried to be a manager and even succeeded as a CPO, but eventually, I stepped back to what I genuinely enjoy.

As for fintech, it wasn’t something I set out to pursue — it just happened. I applied for roles that looked interesting, and there was a match between me and an employer. So, really, you could say it’s on the fintech companies — they created products I liked and had open roles at just the right time.

You’ve worked on various fintech projects — how has your role evolved over time, and what skills were most crucial for your growth?

Andrei: – I’ve stayed on the tech track, so my role still doesn’t include being in charge of other developers. However, stepping into a manager’s shoes has helped me the most. Not only do I understand my supervisors better and communicate with them more easily, but I can also help business and IT teams understand each other. 

I always encourage friends to try a managerial role if the opportunity arises. It’s a zero-risk move: either you’ll enjoy it and grow into the role, or you’ll go back to tech with a new perspective — and be a better developer.

As for me, I’m still the guy who makes things work. The difference now is that I am a “manager of one”, able to take on significant parts of a project without guidance. “With a great career path comes great responsibility” — even if you’re not managing a team.

If you could give one piece of advice to someone entering the fintech industry today, what would it be?

Andrei: – Don’t be afraid of it. Fintech might seem intimidating — like mistakes here are somehow more serious than in other industries — but that’s not really the case. 

I once witnessed a mistake that probably cost more than I can count, and it was an entertainment app. My point is that although fintech seems super serious and scary, it’s not. At the end of the day, it’s just another complex domain you can simplify. 

What’s the best piece of advice you’ve ever received?

Andrei: – It went like “ride the wave” — meaning, choose the task you actually feel like doing at the moment. And honestly, I couldn’t agree more. When you make a wrong choice, you usually end up getting stuck, so it might be better to give yourself a break and come back to it later.

If you try to overcome the ”I don’t want to do it now” feeling, you usually don’t advance, which makes you miserable. But if you switch to something else (or even nothing at all), you often get to the finish line faster. It feels counterintuitive, but it does help, and it’s especially good for your emotional state.

Can you recommend some books?

Andrei: – The advice above came from Winning Without Losing by Martin Bjerregaard and Jordan Milne, which I can wholeheartedly recommend. It helps you understand that working 12 hours daily is usually about poor time management rather than dedication.

My all-time favorite, though, is On Writing Well by William Zinsser. It’s about structuring your thoughts and shortening your texts to be easily digested. As you can probably tell, I don’t always succeed — but I swear, I try.

What purchase of €100 or less has most positively impacted your life in the last six months (or in recent memory)?

Andrei: – A professional chalk and chalk bag for billiards. I know — something like a lint remover might be more universally useful, but hear me out on the metaphor.

First, I’m a big fan of cue sports, and buying something for your hobby is always a great idea.

Second, professional chalk doesn’t leave traces on the baize, and keeping things tidy also positively affects us without costing anything.

And finally, when you’re playing billiards, you chalk your cue before every shot. Having a proper chalk bag means you can do it without thinking — just reach in and go. This little trick lets you concentrate on what’s important instead of wandering around the table.

If you had a gigantic billboard anywhere with anything on it — metaphorically speaking, getting a message out to millions or billions — what would it say and why?

“Don’t forget to be happy.”

Yeah, it’s vague — but that’s the point. Everyone has an answer of their own. And sometimes, we just need to take a break to find our answer and start moving toward it.

Rapid-fire questions:

• Coffee or tea? – Tea. It might be cocoa but not coffee.
• Dogs or cats? – Cats.
• Summer or winter? – Summer.
• Sweet or savoury? – Sweet, I won’t lie.
• Fiction or non-fiction? – Fiction. There’s enough non-fiction around us.
• City life or countryside? – City.
• Comedy or drama? – Comedy.
• What’s your favourite book that has influenced your entrepreneurial journey? – “Everything is Negotiable” by Gavin Kennedy. It’s quite enlightening for introverts like me.
• What app do you use the most? – Telegram.
• What’s your go-to productivity hack? – No mess at the workplace == no distraction.
• What would you like to wish the readers? – I wish you to achieve what you think you’ll never achieve.