Episode 195

195 Albert Owusu-Asare - From Local to Global: The Evolution of a Fintech SaaS

In this episode of SaaS Fuel, delve into the inspiring journey of Albert Owusu-Asare, a visionary fintech leader who journeyed from Kumasi, Ghana to the US, where he co-founded Cadana - a company revolutionizing international payroll systems. With influential roles at Goldman Sachs and Esusu, Albert has harnessed his extensive experience in global finance and consumer banking, empowering employers and employees.

Throughout the episode, Albert shares his insights on transforming global payroll systems to reduce fees and compliance challenges, with a focus on leveraging localized payment systems like M-PESA in Africa. Explore Cadana’s mission to empower international talent by providing seamless, compliant payment solutions across over 200 countries, balancing profit with social impact. Learn how strategic partnerships and innovative solutions are revolutionizing global payroll and creating equal opportunities for talented individuals worldwide.

Key Takeaways

[00:00:18] - African Student’s American College Experience

[00:06:19] - Impact of Payment Delays on Workers

[00:10:59] - Globalizing Localized Payments Through Local Networks

[00:17:41] - Consumer-Centric HR Systems Transformation

[00:27:09] - Investors and Socially Responsible Business

[00:33:07] - Entrepreneurship in Emerging Markets

Tweetable Quotes

“The promise of global work is to create this perception that borders don't exist. The reality is, there are borders, jurisdictions, and tax laws, and companies like us help navigate these issues.” - 00:04:56 Albert Owusu-Asare

“In emerging markets, it's not just the quantum of money, but the velocity of money that matters. A delay in payment can mean school fees are delayed or an elderly person can't access medical care.” - 00:16:45 Albert Owusu-Asare

“We aim to make localized payments global by tapping into local networks. Each time you remove an intermediary from a global payment flow, you get speed increments and fee benefits.” - 00:25:30 Albert Owusu-Asare

“A key part of our success is trust and mutual respect between co-founders. We're able to debate and make objective decisions quickly because we know we're all coming from a good place.” - 00:29:20 Albert Owusu-Asare

“There's an assumption that payroll has to go into a traditional bank. What if I wanted it to go to my cash app or M-Pesa? Payroll systems should decouple from HR admin pay experience.” - 32:14 Albert Owusu-Asare

SaaS Leadership Lessons

Embrace Diverse Experiences for Broader Perspectives: Diverse experiences are significant in shaping a comprehensive understanding of global finance. Leaders should value diverse backgrounds and experiences within their teams to drive innovation and adapt to a global market.
Localize Solutions for Global Scalability: Cadana’s integration with localized payment systems like M-PESA demonstrates the effectiveness of understanding and leveraging regional financial behaviors. SaaS leaders should focus on tailoring their solutions to meet local needs, which can enhance user experience and operational efficiency on a global scale.
Balance Profit with Social Impact: Balance social impact with building a sustainable, profitable business. The aim is to create business models that not only attract investment but also make a positive societal impact, proving that profitability and social good are not mutually exclusive.
Prioritize Trust and Respect in Partnerships: Trust and mutual respect are necessary in successful co-founding ventures. Prioritize building strong, trust-based relationships with their partners and team members to foster a collaborative and resilient work environment.
Adapt to Emerging Market Dynamics: Recognizing the shift towards acknowledging talent in emerging markets, infrastructural challenges and seize of opportunities in these regions must be addressed proactively. By doing so, they can tap into a wealth of talent and drive global growth, as evidenced by Cadana’s success in over 200 countries.