Business

What Holds People Back in Their Tech Careers That They Are Not Thinking About

Published

2 years ago

October 5, 2023

If you want to advance in your technology career, it makes sense to grow your technology skills. Achieving a new certification, attending a bootcamp, or earning an advanced degree are all steps that tech professionals take as they seek to move ahead in their careers. However, focusing on tech skills alone will not be enough for many tech professions.

“I have a warning to cloud engineers, software engineers, network engineers, and all hands-on technology professionals,” says Michael Gibbs, CEO of Go Cloud Careers. “If you limit your learning to tech skills, you will have a more difficult time succeeding in today’s modern world. Even worse, you run the risk of being replaced or outsourced within the next five years.”

Michael has over two decades of experience training students for high-paying positions in the field of networking and cloud computing. The unique programs offered through Go Cloud Careers provide students with unparalleled technical competency as well as proficiency in the soft skills needed to succeed as elite technology professionals. Go Cloud’s training gives its students an exceptionally high success rate at securing six-figure jobs.

“The good news is that there are things that any tech professional can do to increase their income, get promoted, and thrive in their career,” Michael says. “The key is focusing on the skills that will never become obsolete.”

Developments that are transforming the tech world

To thrive in today’s tech space, tech workers need to pay close attention to three ongoing developments, each of which is contributing to a major shift in tech opportunities. The first involves the quality of technology, which has increased dramatically in recent years. Keeping tech up and running is not as much of a challenge as it once was.

“When I started working in technology over 25 years ago, the tech didn’t always work,” Michael explains. “Qualified technology people were in high demand and the better your tech skills, the more you earned. But things have changed. In today’s world, tech works much better. Those who support it aren’t as busy as they once were.”

Globalization is another development that is challenging the security of certain tech jobs. The Covid-19 pandemic proved that geography is irrelevant when it comes to staffing. As a result, the pool for tech employees is much larger than it was just a few years ago.

“Do you think a business would prefer to pay $200,000 to an engineer in the US or $56,000 to an engineer in India?” Michael asks. “In either case, the person is receiving equivalent compensation when adjusted for cost of living and will be performing the same quality of work. This means a company can get four capable people overseas for the price of a single person in the US. If you were the CEO, who would you hire?”

Artificial intelligence (AI) is the third development that is reshaping the tech space. AI tools like ChatGPT have already proven they can code. To compete, developers will need to develop new skills that AI cannot offer.

Skills that can boost your tech career

To stay competitive, tech workers need to add business skills to their tech talents. Many applicants know how to configure technology, but few know how technology can transform the business where it is being deployed.

“Developing your business acumen allows you to understand the value that technology brings to organizations,” Michael says. “When you add business acumen to your tech skills, you are better equipped to help a business increase its revenue, its employee productivity, and its profits.”

Leadership skills will also help tech workers to have successful careers. Technology can’t replace leadership. Good companies will always look to hire and promote those who can lead others.

“Early in my life, I heard an African proverb that changed the trajectory of my career,” Michael says. “It states that if you want to go fast, go alone, but if you want to go far, go together. That’s the secret of success in tech or any field. Build a great team and be able to lead that great team and you will advance in your career.”

Being able to sell is another business skill that can help tech professionals. To be effective and advance, tech pros must be able to sell customers on solutions, sell management on the need for resources, and sell their teams on the importance of contributing to projects. Success in any elite technology role requires being able to sell.

Shifting from engineering to architecture

As engineers and other hands-on professionals add business acumen, leadership skills, and soft skills to their capabilities, they become a more critical part of the organization. Another step they can take to increase their value is to shift their focus from engineering to architecture.

“Engineers that are hands-on only without great communication skills, leadership skills, or sales skills will struggle as the tech field continues to evolve,” Michael warns. “Architects are not as vulnerable, as they focus on designing systems that improve business performance. In fact, architects are the key to digital transformation.”

Technology architects, like cloud architects, enterprise architects, and network architects, assist businesses in leveraging technology to improve business performance. They provide a unique and valuable mix of technology expertise and business acumen.

“Architects understand the customer’s business problem and the ways in which technology can solve the problem,” Michael says. “They bring the human touch to the digital transformation process, which is why they cannot be replaced by technology.”

Business

Inside the $4.3B Quarter: What’s Fueling Black Banx’s Record Revenues

Published

1 week ago

January 16, 2026

Matthew Wiles

Every quarter brings fresh headlines in fintech, but few make the kind of impact achieved by Black Banx in Q2 2025. The Toronto-based global digital banking group, founded by Michael Gastauer, reported an extraordinary USD 4.3 billion in revenue and a record USD 1.6 billion in pre-tax profit, while improving its cost-to-income ratio to 63%.

These results not only highlight the company’s operational efficiency but also mark a pivotal moment in its journey from challenger to global leader. The big question is: what’s fueling such impressive financial performance?

Customer Growth as the Core Driver

One of the clearest engines of revenue growth is Black Banx’s expanding customer base. By Q2 2025, the platform had reached 84 million clients worldwide, up from 69 million at the end of 2024. This 15 million net gain in six months demonstrates both the attractiveness of its services and the scalability of its model.

Unlike traditional banks, which rely heavily on branch expansion, Black Banx leverages digital-first onboarding that allows customers to open accounts within minutes using just a smartphone. This approach is especially effective in regions underserved by legacy institutions, where access to affordable financial tools is in high demand.

More customers don’t just mean higher transaction volumes—they generate a compounding effect where network size, brand trust, and service adoption reinforce one another.

Real-Time Payments and Cross-Border Solutions

A major contributor to Q2 revenues is the platform’s real-time payments infrastructure. Black Banx enables instant cross-border transfers across its 28 supported fiat currencies and multiple cryptocurrencies, helping both individuals and businesses bypass the traditional bottlenecks of international banking.

For freelancers, SMEs, and multinational clients, this means faster liquidity, reduced foreign exchange costs, and simplified global operations. The demand for real-time financial services is growing rapidly—Juniper Research projects global real-time payments turnover to hit USD 58 trillion by 2028—and Black Banx is strategically positioned to capture a significant share of this market.

Crypto Integration as a Revenue Stream

Another key revenue driver is crypto integration. While many traditional institutions remain hesitant, Black Banx embraced digital assets early and has built infrastructure to support Bitcoin, Ethereum, and the Lightning Network. In Q2 2025, 20% of all transactions on the platform were crypto-based, reflecting strong customer appetite for hybrid banking services that bridge fiat and digital assets.

Revenue comes not only from transaction fees but also from value-added services like crypto-to-fiat conversion, staking yields (4–12% APY), and blockchain-enabled payments. For customers in markets with unstable currencies, these services act as a financial lifeline, further expanding the platform’s relevance.

AI-Powered Efficiency and Risk Management

Record revenues would be less impressive if costs ballooned at the same rate. But Black Banx has proven adept at balancing growth with efficiency. Its cost-to-income ratio improved to 63% in Q2, down from 69% a year earlier, thanks to heavy reliance on AI-powered automation.

AI now drives fraud detection, compliance, and customer onboarding—areas where traditional banks often struggle with cost inefficiencies. By automating these processes, Black Banx can process millions of transactions securely while maintaining profitability at scale. This level of efficiency is rare in fintech, where high growth often comes at the expense of margins.

Regional Expansion and Untapped Markets

Geography also plays a role in fueling revenues. Much of the Q2 growth came from Africa, South Asia, and Latin America—regions where demand for mobile-first banking continues to soar. In 2024 alone, Black Banx reported a 32% increase in SME clients from the Middle East and Africa, signaling the strength of its positioning in underserved markets.

By extending services to populations previously excluded from formal banking—migrant workers, rural communities, and small businesses—Black Banx taps into vast pools of latent demand. The strategy proves that financial inclusion and profitability are not mutually exclusive but mutually reinforcing.

Diversified Revenue Streams

Another factor behind Q2’s record revenues is Black Banx’s diversified business model. Income is not tied to a single service but spread across multiple streams, including:

Transaction fees from cross-border transfers and payments.
Crypto trading and exchange services.
Premium account features for high-net-worth clients.
Corporate services for SMEs and international businesses.

This diversification insulates the company against volatility in any single segment, creating stable revenue growth even in shifting market conditions.

Michael Gastauer’s Strategic Blueprint

Behind these results is Michael Gastauer’s long-term strategy: scale aggressively but with efficiency, innovation, and inclusion at the core. His vision has always been to create a borderless financial ecosystem, and Q2 2025’s performance is evidence that this vision is not only achievable but sustainable.

By balancing mass-market accessibility with premium features, and by blending fiat with digital assets, Gastauer has positioned Black Banx as a category-defining player in global finance.

The Road Ahead: Toward 100 Million Clients

Looking forward, the company’s goal of reaching 100 million customers by the end of 2025 will likely be the next catalyst for revenue growth. More customers mean more transactions, more data insights, and more opportunities to refine and expand its service offering.

If current momentum holds, the USD 4.3 billion quarterly revenue milestone could be just the beginning of an even larger growth story. The challenge will be ensuring systems scale securely while maintaining trust in an environment where privacy and compliance are paramount.

A Record That Signals More to Come

Black Banx’s Q2 2025 performance—USD 4.3 billion in revenue, USD 1.6 billion in pre-tax profit, 84 million clients worldwide, and a lean 63% cost-to-income ratio—is more than a financial milestone. It is a signal of how the future of banking is being rewritten by platforms that are borderless, crypto-inclusive, and data-driven.

What fueled this record-breaking quarter is not one innovation but a combination of strategies—scalable onboarding, real-time payments, crypto integration, AI efficiency, and expansion into underserved regions. Together, they form a model that doesn’t just challenge traditional banking but actively builds the foundation for global dominance.

For Black Banx, the road ahead is clear: the $4.3 billion quarter is not an endpoint but a launchpad for even greater scale and profitability.