Prithik Arumugam : Leveraging Years Of Experience To Transform Financial Education
Prithik Arumugam
CEO
Can you share details about your professional background and experiences, as well as the motivation that drives your daily routine?
I hold a degree in data science and have certifications as a data analyst and business analyst. Over the past three years, I've been actively involved in startups focused on E-commerce (EECOM) and fintech. My journey includes working in two companies, one in fintech and the other in a tech startup. The startup environment provided a rich learning experience as I collaborated with various teams in different domains such as management, tech, sales, and marketing. This diverse exposure allowed me to gain valuable insights into how startups operate.
In my role in the Ecom sector, I had the opportunity to connect with industry leaders. Their inspiring stories and work ethics became a catalyst for my entrepreneurial journey. Transitioning from an employee mindset to an employer mindset became a key focus, and having like-minded individuals around me provided crucial support.
My daily routine revolves around feedback, a practice I adopted from someone I met. As a CEO and founder, I prioritize vision and strategic planning, leaving the day to-day operations to the team. Gathering feedback from users,
clients, and various departments helps me fine tune processes. I ensure transparency in the vision for the entire team, creating a purpose for each day. Taking one day at a time, I follow a structured approach, outlining plans in the early morning and tackling tasks sequentially. This disciplined routine helps maintain focus and clarity in achieving our goals.
How would you characterize FINMATE as an organization?
FINMATE was established with my Co-founder and Friend Manish Sankpal to bridge the gaps of financial ‘formal’ education. Our primary goal was bridging the gap between formal education and financial literacy. The lack of formal financial education is identified as a major contributing factor to the high incidence of financial scams. While the Indian education system has adapted to include new curricula such as coding, robotics, and statistics, it has unfortunately overlooked the importance of financial formal education. In response to these challenges, FINMATE offers a comprehensive curriculum developed in collaboration with industry experts. The curriculum covers fundamental financial topics often neglected in traditional education systems. Our organization is committed to creating an immersive and student-friendly learning experience to foster a robust foundation in personal finance. By doing so, FINMATE aims to equip the youth of today with the confidence and skills needed to navigate real-world financial challenges effectively.
Can you elaborate on your leadership approach and the strategies you employ to guide your team?
My leadership approach is straightforward – I focus on nurturing individuals. I firmly believe that to create an exceptional product or service, you need an exceptional team. As founders and CEOs, it's our responsibility to cultivate the right talent and instill the necessary skill sets. We often onboard freshers, providing them with ample opportunities to upskill and contribute new ideas.
As a leader, the key is to concentrate on fostering the right mindset and ensuring a shared vision between founders and the team. Maintaining cohesion is crucial, and a united front with clear communication and vision helps the entire team progress together. Transparent
Under Prithik's leader-ship, FINMATE is on a mission to empower the next generation with practical financial lit-eracy
How would you characterize FINMATE as an organization?
FINMATE was established with my Co-founder and Friend Manish Sankpal to bridge the gaps of financial ‘formal’ education. Our primary goal was bridging the gap between formal education and financial literacy. The lack of formal financial education is identified as a major contributing factor to the high incidence of financial scams. While the Indian education system has adapted to include new curricula such as coding, robotics, and statistics, it has unfortunately overlooked the importance of financial formal education. In response to these challenges, FINMATE offers a comprehensive curriculum developed in collaboration with industry experts. The curriculum covers fundamental financial topics often neglected in traditional education systems. Our organization is committed to creating an immersive and student-friendly learning experience to foster a robust foundation in personal finance. By doing so, FINMATE aims to equip the youth of today with the confidence and skills needed to navigate real-world financial challenges effectively.
Can you elaborate on your leadership approach and the strategies you employ to guide your team?
My leadership approach is straightforward – I focus on nurturing individuals. I firmly believe that to create an exceptional product or service, you need an exceptional team. As founders and CEOs, it's our responsibility to cultivate the right talent and instill the necessary skill sets. We often onboard freshers, providing them with ample opportunities to upskill and contribute new ideas.
As a leader, the key is to concentrate on fostering the right mindset and ensuring a shared vision between founders and the team. Maintaining cohesion is crucial, and a united front with clear communication and vision helps the entire team progress together. Transparent
communication is vital within the team, allowing everyone the space to voice their thoughts, express their wishes, and contribute new ideas. Encouraging innovation is a fundamental aspect of leadership.
In essence, my leadership philosophy revolves around hiring the right people, nurturing their talents, fostering transparent communication, and providing the space and time for team members to innovate and contribute to developing high-quality services for our clients.
How do you stay informed about current industry trends?
I find Youtube to be my go-to platform for staying updated. Unlike traditional media, I appreciate the variety of perspectives from individual creators. This accessibility allows me to quickly learn and gain insights into global events. My content consumption has shifted from entertainment to education, broadening my vision as a business owner.
Social media and tech channels are instrumental in swiftly integrating new ideas, aiding businesses in connecting with diverse audiences. In addition to online sources, I value face-to-face interactions through meetups and coffee chats. These exchanges, encompassing both success and failure stories, keep me well-informed about industry developments. Learning from others' experiences fosters collaboration within my team for future endeavors.
Where do you see yourself heading in the future?
My goal is to revolutionize the Edtech industry by establishing a dominant presence in providing immersive learning experiences that surpass traditional methods, including virtual ones. I aspire for FINMATE to be recognized as the platform that not only delivers outstanding financial education but does so in the most effective manner. I believe that this immersive learning should be accessible to everyone, irrespective of their background. If I can improve their lives by just one percent, I would consider it a successful achievement, creating a genuine win-win situation for all.
Prithik Arumugam, Co-Founder & CEO, Finmate
Prithik Arumugam the CEO of FINMATE Education. He is a visionary leader in the education and financial literacy sector. With a background in Data Science, he co-founded FINMATE in 2023, aiming to provide accessible financial education for students worldwide. Prithik is dedicated to empowering the next generation with essential financial knowledge.
In essence, my leadership philosophy revolves around hiring the right people, nurturing their talents, fostering transparent communication, and providing the space and time for team members to innovate and contribute to developing high-quality services for our clients.
How do you stay informed about current industry trends?
I find Youtube to be my go-to platform for staying updated. Unlike traditional media, I appreciate the variety of perspectives from individual creators. This accessibility allows me to quickly learn and gain insights into global events. My content consumption has shifted from entertainment to education, broadening my vision as a business owner.
Social media and tech channels are instrumental in swiftly integrating new ideas, aiding businesses in connecting with diverse audiences. In addition to online sources, I value face-to-face interactions through meetups and coffee chats. These exchanges, encompassing both success and failure stories, keep me well-informed about industry developments. Learning from others' experiences fosters collaboration within my team for future endeavors.
Where do you see yourself heading in the future?
My goal is to revolutionize the Edtech industry by establishing a dominant presence in providing immersive learning experiences that surpass traditional methods, including virtual ones. I aspire for FINMATE to be recognized as the platform that not only delivers outstanding financial education but does so in the most effective manner. I believe that this immersive learning should be accessible to everyone, irrespective of their background. If I can improve their lives by just one percent, I would consider it a successful achievement, creating a genuine win-win situation for all.
Prithik Arumugam, Co-Founder & CEO, Finmate
Prithik Arumugam the CEO of FINMATE Education. He is a visionary leader in the education and financial literacy sector. With a background in Data Science, he co-founded FINMATE in 2023, aiming to provide accessible financial education for students worldwide. Prithik is dedicated to empowering the next generation with essential financial knowledge.