CEO of True Finance talks fintech, innovation and finserve
Tim Yelchaninov is the CEO and Co-founder of True Finance and an official Forbes Business Council Member. He has almost a decade of experience in the financial industry and is a passionate advocate for good customer servicing. We caught up with him to find out more.
Describe your journey into fintech. How did you get here?
I got my start with Trend Capital, this is a PNW- based fintech company that reaches millions of users and consumers daily. They have an amazing team culture and a team of leadership, it was incredibly inspiring. Watching them solve problems using technology got me fired up to be a leader in the fintech space. So here I am, trying to solve problems to help people become the best version of themselves.
Who was your childhood hero and why?
Police officers. I was that kid on the playground swing, singing “bad boys” by Inner Circle. I admired them as courageous leaders that made the world a better place. Early on, this caused me to feel a certain burden to help people around me and specifically protect kids from bullies. An interesting fact, before joining Trend Capital, I was interviewing for multiple police agencies in Washington State. But things worked out for the best and here I am in fintech instead. No regrets.
What's the best piece of advice you’ve ever received?
“Be patient with yourself and others” I actually heard that from John Piper. Life is not always going to be easy and everyone has their own journey. Part of being a great human is encouraging others to reach for the stars while helping them see it takes a lot of persistence and perseverance.
Name one piece of technology you couldn’t live without and tell us why (excluding your mobile phone)
I am inclined to answer that it’s my laptop. But that feels like cheating and a very common answer. So I will choose my LinkedIn account. While building True Finance, I have connected with amazing leaders, been inspired by posts, and found answers to hard questions. This network has been an absolute catalyst for me over the past six months.
True Finance is moving from strength to strength - did you ever think your plans would take you to this point when you first started out?
Not at all, our team had ideas of potential products but we etched them with a pencil. None of our plans were permanent because we wanted to follow the data, speak to potential customers, and bring real solutions to the table. Our market research helped narrow in our MVP and here we are. Now True Finance is being built to help customers break the cycle of bad credit and massive debt. We aim to have a generation impact on the finances of our users.
Is there a personal achievement from the past 12 months of which you are particularly proud?
Yes, I became a morning person! I used to dread waking up early but now it’s the highlight of my day. I begin with jogging, move into a time of meditation, and follow up with a lot of coffee and work. And this is not a once-a-week thing, it’s every single day. I am officially a morning person and I love it. It all came about as I sat down to evaluate my day and when I am most productive. I found that in the morning, my mind was most clear and ready to execute. As I move into the afternoon, my mind moves into a creative cycle so I leave the late afternoon for creating, writing, and planning. I call this my rhythm. I hope everyone finds theirs, it’s life-changing.
Describe yourself in three words
Husband, Father, Creator
What inspires you in Fintech today?
Helping people inspires me. Having a positive impact is driving me forward with True Finance. I was given an opportunity to launch a product and my desire is to build a product that makes people smile. Solutions that are a catalyst to breaking the cycle of bad credit and no money. We want to help people get approved for homeownership, get more college scholarships, pay down debt faster, or simply save enough to go on a vacation for the first time in years! We have a solution and it’s going to change lives.
What’s next for Tim Yelchaninov?
The next step is finding the right partner for venture capital. We are looking for someone that wants to leave a generational impact on the finances of families. In the meantime, True Finance is preparing to launch our MVP. Outside of work, I will strive to become the best version of myself to my wife, my three daughters, and my team at True.
