As the world celebrates International Women’s Day, we take a moment to shine a spotlight on the remarkable women in PAYSTRAX! We are proud to have so many diverse specialists who embody the spirit of excellence and drive success at our company. Get to know their achievements and future plans below!
Kristina Majauskaite-Adomaviciene, CFO
What are the main factors or tools influencing the growth of the company?
The growth of PAYSTRAX is influenced by a multitude of factors and tools, each playing a significant role in its trajectory. Beyond the invaluable experience and knowledge possessed by employees, other critical elements include strategic planning, and data driven decision making. Utilizing data-driven decision-making processes, we capitalize on insights from market trends, customer behaviour, and operational efficiency, further fuelling our growth.
Company’s Financial Health: is it important and how to measure it?
Financial health is a core part of every business. Business that consistently monitors financial health is better placed to sustain current performance and continue to grow. PAYSTRAX is constantly measuring its financial health by monitoring operating efficiency, cash flows and profitability. Maintaining our company’s financial health allows us to grow and succeed.
Kristina Tamulione, Team Lead of ODD
What are the main factors ensuring quick and smooth onboarding process?
A smooth onboarding process relies on effective communication that ensures understanding of the client’s needs and expectations together with our company’s requirements for specific industries. Clear documentation provides clarity on services or goods that merchant is offering, also if it’s adhering to the compliance regulations. With all that experienced staff is the key factor for quick onboarding. Our team can offer guidance and insights tailored to the client’s and industry specific requirements ensuring quick start of payment acceptance.
How do you envision the future of onboarding? What innovations or enhancements you think would be useful to implement?
The future of onboarding holds exciting potential, with advancements in technology created to optimise the process. AI-driven personalization could tailor onboarding experiences to individual preferences and learning styles, optimizing engagement and retention. Enhanced automation tools could reduce the manual work to the minimum, leaving less space for human error mistakes. Additionally, new technologies could improve verification processes, ensuring secure and transparent documentation throughout the onboarding journey.
Gintare Truksnyte, CCO
What initiatives or innovations were taken in the past year to enhance the effectiveness and efficiency of our compliance efforts?
Last year, we were focusing on strengthening the compliance function, aiming to bring it closer to each member of the company. The compliance team provided in-person training to engage all employees. We aimed to explain complex things in a simple way, while covering and touching on the most important topics and issues. We wanted to show that the compliance function is not only about formal following with the legal requirements, but it is also a daily advisory function for the business to achieve the best solutions and comply with regulations. While the implementation of changes takes time, we are moving in the right direction. The company also offers online training, providing employees with the opportunity to complete it at their most convenient time.
It is important to mention that having the right compliance team promotes confidence in compliance and improves the compliance culture within the company. For me, the right team is defined by 3 things: professionalism, positivity, and can-do attitude.
What do you see as the most significant compliance challenges facing our industry in the near future?
As usual, the main challenge is the implementation of the growing regulatory requirements. Their adaptation to the company’s activities takes a lot of time and resources. The second is the automation (including the challenges of using AI) of processes and tasks to ensure efficiency. Third and no less important is to find the right team member, as we are currently looking for a new colleague.
Akvile Venskaviciute, Information Security Specialist
On what areas PAYSTRAX’s security team is focusing on right now the most?
In the realm of cybersecurity, our focus at PAYSTRAX revolves around safeguarding sensitive data through rigorous measures aligned with best practices in the industry. We prioritize compliance with regulations such as the Payment Card Industry Data Security Standard (PCI DSS), ensuring that data and transactions are handled with the highest level of security. Currently, we implement robust measures to continuously strengthen our defences against potential vulnerabilities. From enhancing our threat detection and response capabilities to fortifying our systems against emerging risks, every action we take is meticulously crafted to uphold the highest levels of data and transactions’ security.
How does PAYSTRAX’s security team collaborate with other departments to enhance overall cybersecurity awareness and resilience within the company?
Collaboration is essential in our cybersecurity efforts at PAYSTRAX. As we start new projects to make our operations more efficient, security is always a top priority. It’s not just something we think about later—it’s one of the first things we consider. Whether we’re introducing new software or improving current processes, our security team works closely with colleagues from different departments to make sure our operations are secure.
Furthermore, our commitment to cultivating a culture of security extends beyond technical measures. We actively engage in comprehensive training programs aimed at raising cybersecurity awareness across the organization. Every member of our team, irrespective of their role, receives training to equip them with the knowledge and skills necessary to identify and mitigate potential risks effectively.
When we start new projects, our motto is clear: security comes first. This mindset runs through every part of our work, ensuring that our operations remain secure and resilient against any threats.
Monika Kareckaite-Siupiniene, Head of HR
What are the main reasons for the minimal employee turnover in the company?
The minimal employee turnover at PAYSTRAX is truly something special. There are a few key factors that contribute to it. One of the main reasons is our strong company culture that fosters a sense of belonging and purpose. We also prioritize employee development and work-life balance, providing opportunities for personal and professional growth. We genuinely care about each other and create a warm and welcoming environment. And this supportive and collaborative work environment plays a big role in keeping our employees happy and engaged. Our team feels valued, supported, and inspired to do their best. These factors combined create a positive and fulfilling experience for our team members, making them less likely to seek opportunities elsewhere.
What strategies is the HR department considering to ensure the company remains competitive in attracting and retaining top talent in this dynamic environment?
The HR department is always looking to attract and retain the best talents by implementing different strategies. Firstly, we rely very strongly on the company’s values, both in the way we work and in the way we select the best candidates to join our team. We are constantly exploring innovative recruitment methods and collaborate with recruitment experts outside the company. We invest heavily in personal and professional development programs and create a positive work culture that encourages development and engagement. We also pay close attention to the environment around us: different internal activities and initiatives, improved employee benefits package, hybrid work opportunities and others. We are open to employee suggestions, opinions, and feedback. We want everyone to feel valued and motivated to grow with us. Creating a great employee experience is what matters to us and ensures that we continue to attract and retain the best talents on the market.
