Having spent a decade consulting in the payments and banking industries, Ryta Zasiekina, Founder of CONCRYT, has gained a reputation as a dynamic decision-maker and skilled negotiator. Originally from Ukraine, Ryta was forced to flee her homeland for Riga, Latvia, in spring 2022, where she started her first business, a payments consultancy for e-commerce and fintech businesses, and is now founder and co-CEO of CONCRYT.
Can you tell us a little about your background and the company?
I am a qualified engineer and have spent around a decade in the payments and banking industry as an independent entrepreneur and business advisor. My specialism is in general e-commerce and FinTech business consulting, payment processing, alternative payment methods, risk management and anti-fraud.
After graduating from university, I was unsure of my place in the world. I studied the biographies of many successful people in business and politics, the institutions they graduated from and the level of education they received. From this, I compiled a checklist of the skills, competencies and traits I knew I would need to reach my goals.
I tried my hand at several different companies across various industries, and in time, I uncovered a new area of e-commerce that instantly captivated me. CONCRYT was created to help merchants across all sectors make quantifiable impacts in the online space, by combining unrivalled sector knowledge and experience to create a sustainable, mature, efficient global payments business.
How did the idea come to you for the company?
Since the pandemic drove so many merchants online, e-commerce businesses now recognise the importance of having a digital payment services solution in place. With the Covid-19 crisis behind us, our online shopping habits are here to stay, so merchants now want to expand revenues, broaden their offerings and increase the value on offer from cross-border payment capabilities – which is where CONCRYT can help. At each step of that journey, we have the expertise to help our merchant partners and can provide an unparalleled level of personalised support.
What are the key successes?
It’s early days for CONCRYT,, but we have already assembled a diverse team of industry innovators who understand the importance and are passionate about payments. Their approach to work is to proactively seek solutions, be prepared for challenges and constantly adapt our processes to maximise profit and efficiency. Subsequently, we’re ideally placed to help businesses go beyond just offering payments; we aim to help our clients reimagine money to make it flow seamlessly.
What challenges have you faced and how have you overcome these?
On a personal level, I have had to defy the odds to set up my businesses as a woman in a traditionally male-dominated industry. I’ve had to learn a lot about the industry – and myself – extremely quickly.
In my younger years, I was impatient to scale the career ladder — I exuded self-confidence but had nothing concrete by way of experience to back it up. I have overcome these personal and professional challenges by exercising patience. Over time I have developed the skills and experience to hold my own and command respect as a business owner – not a female business owner.
What are your plans now/for the future?
Right now, I am focused on establishing CONCRYT as game-changers in payments who can provide the advanced payments technology that helps customers worldwide realise their potential.
I’m really proud of the work we’ve done so far. The combination of our team’s extensive experience gives CONCRYT the versatility to cover multiple fintech domains, and we boast a wide network of banking and finance connections across the globe that will open a world of opportunity for our e-commerce clients.
What would you like to share with others to encourage them to start their own entrepreneurship journey?
I think women in business are still afraid of coming across as too competitive or aggressive. My advice is to beware of being too hesitant and not competitive enough – it can mean you miss out on opportunities. Everyone in business should remember that to achieve success, you need to compete with others, so when it comes to decision-making, you need to turn your emotions down as much as possible if you are to be taken seriously.
It’s also important to demonstrate strategic thinking; men rarely expect this from women in business. To do this, you need to clearly visualise how each decision will affect the future outcome. I believe that women make the fiercest competitors in business; they are more systematic and thoughtful, diplomatic and purposeful. So, a woman – arguably more so than a man – must work hard to protect her reputation, as only she is responsible for her name in business. Reputation is very important.
I would also say, don’t just sit around and wait to be noticed. Women should not be afraid of tackling new challenges, however complex they may be. Skills can be learned along the way and experience can be gained – but if you never take that first step, you’ll never know what you’re capable of.
Can you share your top tips for entrepreneurial success?
- Lead to be a leader, not merely to manage people. Too many young people want to realise themselves as managers purely to stroke their own ego, when in practice, the team doesn’t really perceive them as leaders at all. For me, leadership comes with a certain degree of maturity and awareness, when you have something of value to share with people.
- Listen. Ask your team leading questions to clarify understanding of the task or project, and have them visualise and vocalise what the finished picture should look like. Truth is born from such conversations. Issuing directives where you are simply handing out tasks and telling people what to do is completely ineffectual for business.
- Exercise fairness. People have a very good sense of justice or injustice in relation to themselves and others, and often they communicate their grievances more among their peers rather than their superiors.
- Don’t shy away from uncomfortable decisions. To lead, you must balance business needs with those of your employees simultaneously, which can be very difficult.
Who are the people who inspire you the most and why?
Michelle Obama inspires me a lot. I consider her as an example of a woman who can be successful and at the same time knows how to keep a balance between all areas of life. She’s an inspiration to many women in the world.
There are also lots of people to whom I’m grateful for giving me opportunities and seeing my potential – business owners and leaders who helped me gain experience and hone my mind. They have inspired me to demonstrate these qualities, and I hope that in turn I can inspire others.
What are your favourite inspirational /motivational quotes?
“Opportunity does not knock; it presents itself when you beat down the door.”
If you don’t believe in yourself and what you are capable of, you can’t expect anyone else to buy into your vision either.
What are your Instagram, Facebook and LinkedIn social handles and also website links so our readers can connect with you?
