Tanu Arora is a Senior Manager in Account Management (Customer Success), based at our US Headquarters in San Francisco. She’s bubbly, brilliant and utterly obsessed with facilitating customer feedback loops to build and improve Nium’s product suite.
In this feature of “Voices of Nium”, we invite you to join us as Tanu shares why she believes cultivating a fail-fast mindset is crucial to those who want to be successful in the fintech industry. She also gives us the insider scoop on how she/her team supported a Nium customer in remarkable business growth with a (nearly) 600% increase in volume. Tanu further reveals why she follows the ethos of; “wise (wo)men learn from their mistakes, but wiser (wo)men learn from the mistakes of others.”
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Which 3 words do you think your colleagues would use to describe you and why?
I think they would describe me as a “do-er”, “earnest”, and “unabashed”. I tend to say “yes” to even the toughest of challenges, never shy away from taking ownership, and don’t hesitate to ask for help when I feel I need support.
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You achieved your MBA at the University of San Francisco and before that you obtained your Bachelor of Commerce at Panjab University. Do you think it was through studying that your love of business and the finance sector developed?
Yes, absolutely! Although, truth be told, I started my MBA at 21 years old right after my Bachelor of Commerce. Now that I look back on it, I think it was a bold decision that paid off. I learned a lot about the corporate world through my fellow classmates, and as they say, “wise (wo)men learn from their mistakes, but wiser (wo)men learn from the mistakes of others.” I emerged from my MBA with an in-built knowledge because of jumping into my MBA at 21 that I then applied to my own professional life.
During my time in business school, I discovered a dual passion for working with data and engaging with customers. Playfully referring to myself as a "citizen analyst," I found joy in leveraging data to enhance customer interactions.
When I became a Nium’er in March 2023, a noteworthy experience unfolded. A customer with an annual recurring revenue exceeding $1 million expressed dissatisfaction with high return rates. Delving into the data, we discovered that the actual return rate was only around 0.03%. Empowered by this insight, we engaged in a constructive conversation that significantly improved customer sentiment. By December of the same year, we witnessed a remarkable (nearly 600%) increase in volume, showcasing the transformative impact of data-driven customer interactions.
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What’s the best thing about being an Account Manager with Nium? What’s the most challenging thing about being an Account Manager at Nium?
I am a huge product advocate and I love helping my clients to grow their businesses. It’s also important to me to be able to have a tangible impact on improving the experience of money movement globally. Nium affords me this opportunity. I can give another example here. One of our payroll customers were struggling to make a specific payroll for their team members, due to an unforeseen regulatory change with a competitor. However, they contacted us on a Friday and by the following Monday, we had a solution in place for them, and all was up and running. It gives me an immense sense of achievement and pride to be part of a team who can turn around magic like that in a mere few hours.
Having said that, I think the most challenging part about being an Account Manager is that when challenges arise, there’s often no way to predict timeframe. Our customers trust us to have their employees paid on time, get the best FX rates, and control corporate purchasing. Sometimes, these challenges arise when you least expect them to for example, on the weekend. We always act with urgency, and I truly admire my coworkers who do all that needs to be done to solve any issue as quickly as possible.
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You’re an avid communicator! How important is continuous conversation and feedback in ensuring long-lasting and transparent relationships with customers?
I consider it paramount. Maintaining an open channel for communication enables our customers to freely express their feedback. It’s essential that we foster an environment where we can continually enhance our product offerings. We host regular meetings with our clients, and the insight we get from these transparent discussions has contributed to the inception of some of Nium's latest features, such as our Nium chronometer.
Our Payment Chronometer drew its inspiration from a marine chronometer which helps with precise navigation on the ocean. Our payment chronometer helps our customers effectively sail through the difficult cross-border payment high seas.
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How do you collaborate with the product teams in your current role?
Nium operates with a customer-first mindset, and as such, customer feedback serves as the cornerstone of our product roadmap. I've actively engaged some of our customers as beta testers, notably for new features like Nium Portal. Others have provided extensive feedback on our existing product offerings, leading to the introduction of features such as GPI tracking for Swift payments.
I take pride in establishing a robust feedback loop, integrating customers early in the product development process, and invite them to actively participate in pilot programs. This approach reflects our commitment to continuous improvement and ensures that our product aligns closely with the evolving needs and preferences of our customers.
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What’s the one thing you wish someone told you before you started at Nium that you’d pass onto a newbie now?
I would encourage a newbie at Nium to embrace a continuous learning mindset. The fintech industry is dynamic and rapidly evolving, with advancements in technology, regulatory changes, and market trends shaping the landscape. Therefore, be prepared to adapt, stay informed about industry developments, and actively seek opportunities for ongoing education. Cultivating a fail-fast mindset is crucial. At Nium, we thrive on speed and aren't afraid to seek help when needed.
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Nium’s ethos is “Simply Better Together.” What does that mean to you? How do you think Nium’ers bring this into their everyday work?
Our values of #KeepItSimple, #WinItTogether and #MakeItBetter signify a dedication to transparent and straightforward communication, a focus on user-friendly solutions, and an unwavering pursuit of product and service excellence. This entails a continuous commitment to improvement, proactive problem-solving, and fostering a collaborative spirit both within the company and in partnership with our valued customers.
At Nium, our collective effort is directed towards understanding not just what a customer 'wants,' but delving deeper into their true needs. We take pride in uncovering opportunities to simplify our customers' lives. Through a seamlessly integrated API, thorough documentation, and an unyielding dedication to customer success, we facilitate a shared journey that truly embodies the essence of “Simply Better Together”.
