Payment Expert’s ID Check: Payments Professionals offers insight from industry leaders and experts on how they got their start in the financial industry, from their early years in education, to how they have been able to climb the corporate ladder.
This week, Andy Hocking, CEO of Tribe Payments, discusses how he made his way from handling cash at UK racecourses to mingling with some prominent leaders in the digital payments sector – and the lessons he learned along the way.
Where did you go to university and what did you study? What impact did this have on your current journey?
I completed my undergraduate studies in Economics at Aberystwyth University. The core principles of economics continue to influence how I structure my thinking. About a decade later, I pursued an Executive MBA at Warwick, which profoundly enhanced my understanding of organisational behaviour and change management.
Were you part of any sports clubs or societies at university and has this influenced your educational and professional development?
I played Lacrosse and American Football and held leadership roles, such as Treasurer and Chair of my halls of residence. I suspect that exposure to leadership roles earlier in life prepared me for this later in life, I didn’t even think about that at the time.
Did you have any jobs outside of the industry before making your start in it and was this experience a motivation to get into the industry you aspired to be in?
As a teenager, I worked at various racecourses around the UK. Occasionally, I carried rucksacks (literally) of cash from the turnstiles to the secure room, maybe this weight drove me to digital payments!
What was the first job you had in the industry and are there any lessons from this you still draw on?
My first role was as a Market/Data Analyst at Barclaycard Merchant Services. During my nine years at Barclays, I was fortunate to work in various roles across different functions and lines of business, including Issuing and Acquiring. This breadth of experience helped me understand the interconnectedness of different business areas and the constant opportunity-cost decisions that have to be made.
Who was your biggest role model outside of the payments industry who continues to inspire you in your current career?
I don’t think I have one, I probably pick traits I like about different people and try to emulate those. I suspect the more you hold a particular individual up as a role model, the more you’re likely to get disappointed.
When was your first big break in the payments industry? Why was this such a significant moment for you?
I think joining Barclaycard, working with some great leaders. But the real acceleration in my career came from undertaking my first expat assignment and the MBA at the same time.
Was there a moment you faced in the industry that really challenged you? How did you overcome this?
COVID was challenging for me as it had been for everyone. I’d been working on an M&A deal for a year or so, and we were about to formally engage when everything got put on hold. Patience is indeed a virtue, and eventually, we completed the deal.
Lastly, what is some advice you would give to an aspiring person looking to get a start in your respective industry?
Learn the basics. Do what interests you. Meet the commitments you make. And don’t be afraid to take risks and push yourself into uncomfortable places.