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Why CEN Standardization is Good for Big Tech and Small Businesses

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CEN is the European Committee for Standardization and works to create standards for 34 European countries in the European Union and European Economic Area. CEN standards, which you can access on iTeh Standards, are used to establish industry standards and technical documents for a variety of industries including:

  • Construction
  • Consumer products
  • Chemicals
  • Air and space
  • Energy and environment
  • Food for human consumption
  • Food for animal consumption
  • Health and safety
  • Defense and security
  • Machinery
  • Pressure equipment
  • Smart living
  • Transport and packaging
  • And more

Why standardization is essential

Standardization in any industry automatically increases important processes’ efficiency and makes it easier and cheaper to do business. Less time is wasted, less materials are wasted, and standards are continually revised to reflect the most efficient processes.

When small businesses and large corporations adopt industry standards, it strengthens the market competition, which supports economic growth. According to CENELEC, an organization that works jointly with CEN, standards “facilitate innovation and promote the adoption of new technologies.”

What’s so special about CEN standardization?

CEN standards are special because they apply to entire industries across the EU.

Any company can create their own standards in business, but they may not have all the information required to know if their standards are actually best for the industry and customers. When businesses in the same industry create their own standards, they’re not operating at their highest potential. They’re also operating in conflict with one another, which can sometimes make it hard to switch manufacturers and suppliers.

Having CEN standards relieves businesses from having to figure out their own standards at a fundamental level. They can still create their own standards for how they wish to do business, but the base level industry standards will be covered.

Having CEN standards also forces manufacturers and suppliers to conform to a set of industry standards, which helps them stay competitive in the market. When manufacturers and suppliers are required to meet the same standards businesses are accountable for, businesses can order raw materials and products from certified sources.

Standardization enhances the customer experience

No matter what gets standardized, it all leads to a better customer experience by creating consistency. In the end, every bump you can smooth out and every wasted second of time you can eliminate leads to a productive work environment. When teams are productive and things are running smoothly from top to bottom, customers are happier.

Likewise, standards also work to maintain safety, which also enhances the customer experience. For example, health departments set standards for handling and storing food to keep it safe, and machine shop workers follow standards for wearing protective gear and clothing to prevent injury.

You can standardize just about anything in a business, including job activities, rules, procedures, technology, services, behaviors, and measurements.

CEN standards are well-tested and documented

The advantage of CEN standards is they’re well-tested and documented. They weren’t just arbitrarily thrown together by collecting theoretical information across industries. CEN standards are created by studying and testing to see what works, what’s most effective, eliminating what doesn’t work, and establishing a set of rules that can be universally applied across the industry.

On the other hand, when organizations come up with de facto standards, they’re often illogical, ineffective, and counterproductive. De facto standards become a big problem when they’ve remained unchallenged for a long period of time. People want to do things the way they’ve always done them, and introducing standards can be off-putting to many.

Many businesses may not even be aware that their standards are actually inefficient methods like workarounds that have simply been in place for a long time.

There’s always room for more standardization

Standardizing industries is a big task – one that is infinite in scope and duration. There will never be an end to standardization. As technology evolves, standards must evolve alongside whatever tech is being brought to the industry.

While the world’s technology evolves, CEN will continue to work hard to create and develop standards for industries. Hopefully, more businesses will embrace these standards and see them as a support system for their business rather than an inconvenient hurdle.

The idea of Bigtime Daily landed this engineer cum journalist from a multi-national company to the digital avenue. Matthew brought life to this idea and rendered all that was necessary to create an interactive and attractive platform for the readers. Apart from managing the platform, he also contributes his expertise in business niche.

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Business

Derik Fay and the Quiet Rise of a Fintech Dynasty: How a Relentless Visionary is Redefining the Future of Payments

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Long before the headlines, before the Forbes features, and well before he became a respected fixture in boardrooms across the country, Derik Fay was a kid from Westerly, Rhode Island with little more than grit and audacity. Now, with a strategic footprint spanning more than 40 companies—including holdings in media, construction, real estate, pharma, fitness, and fintech—Fay’s influence is as diversified as it is deliberate. And his most recent move may be his boldest yet: the acquisition and co-ownership of Tycoon Payments, a fintech venture poised to disrupt an industry built on middlemen and outdated rules.

Where many entrepreneurs chase headlines, Fay chases legacy.

Rebuilding the Foundation of Fintech

In the saturated space of payment processors, Fay didn’t just want another transactional brand. He saw a broken system—one that labeled too many businesses as “high-risk,” denied them access, and overcharged them into silence. Tycoon Payments, under his stewardship, is rewriting that narrative from the ground up.

Instead of the all-too-common “fake processor” model, where companies act as brokers rather than actual underwriters, Tycoon Payments is being engineered to own the rails—integrating direct banking partnerships, custom risk modeling, and flexible support for underserved industries.

“Disruption isn’t about being loud,” Fay said in a private strategy session with advisors. “It’s about fixing what’s been ignored for too long. I don’t chase waves—I build the coastline.”

Quiet Power, Strategic Depth

Now 46 years old, Fay has evolved from scrappy gym owner to an empire builder, founding 3F Management as a private equity and venture vehicle to scale fast-growth businesses with staying power. His portfolio includes names like Bare Knuckle Fighting Championships, BIGG Pharma, Results Roofing, FayMs Films, and SalonPlex—but also dozens of companies that never make headlines. That’s by design.

Where others seek followers, Fay builds founders. Where most celebrate their exits, Fay reinvests in people.

While he often deflects conversations around his personal wealth, analysts estimate his net worth to exceed $100 million, with some placing it comfortably over $250 million, based on exits, real estate holdings, and the trajectory of his current ventures.

Yet unlike others in his tax bracket, Fay still answers cold DMs. He mentors rising entrepreneurs without cameras rolling. And he shows up—not just with capital, but with conviction.

A Mogul Grounded in Real Life

Outside of business, Fay remains committed to his role as a father and partner. He shares two daughters, Sophia Elena Fay and Isabella Roslyn Fay, and has been in a relationship with Shandra Phillips since 2021. He’s known for keeping his personal life private, but those close to him speak of a man who brings the same intention to parenting as he does to scaling multimillion-dollar ventures—focused, present, and consistent.

His physical stature—standing at 6′1″—matches his professional gravitas, but what’s more striking is his ability to operate with both discipline and empathy. Fay’s reputation among founders and CEOs is not just one of capital deployment, but emotional intelligence. As one partner noted, “He’s the kind of guy who will break down your pitch—and rebuild your belief in yourself in the same breath.”

The Tycoon Blueprint

The playbook Fay is writing at Tycoon Payments doesn’t just threaten incumbents—it reinvents the infrastructure. This isn’t another “fintech startup” with a flashy brand and no backend. It’s a strategically positioned venture with real underwriting power, cross-border ambitions, and a founder who understands how to scale quietly until the entire industry has to take notice.

In an age where so many entrepreneurs rely on noise and virality to build influence, Fay remains a master of what can only be called elite stealth. He doesn’t need the spotlight. But his impact casts a long shadow.

Conclusion: The Empire Expands

From Rhode Island beginnings to venture boardrooms, from gym owner to fintech force, Derik Fay continues to build not just businesses—but a blueprint. One rooted in resilience, innovation, and long-term infrastructure.

Tycoon Payments may be the latest chess piece. But the game he’s playing is bigger than one move. It’s a long game of strategic leverage, intentional legacy, and generational wealth.

And Fay is not just playing it. He’s redefining the rules.

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