Business

Avi Ben Ezra explains How to Increase Business Confidence in the Digital World

Published

6 years ago

July 5, 2019

The CTO of SnatchBot, Avi Ben Ezra, recently provided guidance to hundreds of bot developers and tech professionals on practices that increase business confidence. Below are some extracts published with his authorization.

Security first: Overcoming the damage done by hackers

Despite high-level encryption, hackers constantly find new ways to exploit some of the most trustworthy enterprises and organizations such as Google, Facebook, British Airways and T-Mobile. This is resulting in a situation where consumers simply no longer have any confidence in businesses. At the same time, there has been an increase in the number of people who are willing to share their personal data with those companies whom they deem to be reliable and trustworthy. This also includes those businesses who are constantly providing people with excellent value. Based on these facts what can business owners and CEOs do? The obvious answer is that every business owner and CEO of an organization should consider trust between the business and the consumer as a very vital priority.

In fact, it should take precedence over everything else such as quality services or superior products and even delivery services. It must be remembered that people and businesses are part of a digital environment which is resulting in a situation where businesses are more visible than ever before. Although transparency can be a good thing it is also raising the stakes considerably. Even the slightest mistake instantly becomes public knowledge and this can have a serious impact on consumer confidence and trust.

Understanding the importance of trust

There are many professionals now who are able to analyze businesses and organizations and who can then proceed to formulate a strategy which will allow that business to earn the trust of the consumer. The best strategy will always be to have a long-term and proactive approach when it comes to the important issue of creating trust with consumers. Managing and steering that process can be one of the most important things which a CEO or business owner will ever do. Everything has to be done according to a carefully formulated plan.

The first step will be to analyze the business or organization since you need to know exactly what is happening in that business or organization. You need to determine how much the business or organization is currently trusted by the consumer. You need to take a careful look at exactly what the consumer is expecting and you need to determine how successful you are in providing in those needs. You also need to ask some probing questions from the consumer in order to determine whether they are comfortable to share their personal information with your organization or business. If there is any resistance it is important to determine what it would take to gain the confidence of the consumer.

It can be difficult for startup businesses

You might be running a business which is making use of relatively new technology. You may be in the situation where you’re trying to attract interest in that product. Many things have to be overcome such as the initial skepticism of your target audience. It can be an uncertain time before they will eventually gain trust in your business. It will be important to consider these issues and to determine the best approach in order to ensure some measure of success. One tool which is often used when it comes to things such as trust is known as a trust roadmap. This can be implemented as soon as the analyses of your business have been completed and those results can then be used to determine the areas in which your company might be lacking. There are five areas which have to be considered when it comes to issues of trust and they are privacy, transparency, security, reliability, and fairness. You will have to find a way to convince the consumer that you will be able to protect the user data. You will also have to have convince them that all of their sensitive information is a priority as far as your business is concerned.

Don’t promise more than you can deliver

Do you have the means and resources to deliver on your promises? It will be disastrous for your business to fail the consumer after you have made certain promises. You will require an excellent business model as well as well formulated policies and it’s important to be always transparent as far as your products and services are concerned.

It is also important to frequently request feedback from your customers because this information is essential to gauge how much has been accomplished and how far the business has progressed as far as the trust of the consumer is concerned. Accountability is a very important indicator of the reliability and trustworthiness of any business organization. Every employee in that business organization has to work together in order to create an organization which will be able to earn the trust of the consumer. This will require strong leadership that is able to set an example which will clearly indicate exactly what it means to earn someone’s trust.

On the deployment of AI and Chatbot Technology:

With this, Ben Ezra seems to think that not only will consumer confidence increase, but also predictability for businesses, followed by business confidence.

Business

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

Published

2 days ago

October 17, 2025

Matthew Wiles

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.