In the latest episode of Why We Lead, Angela and Lynda speak to Tony Craddock, Director General of The Payments Association. Tony is a dynamic leader, a passionate advocate for the payments industry, and an engaging public speaker whose insights are shaping government policies and industry standards. If you’re interested in leadership, financial innovation, or the future of payments, this conversation is a must-listen!
- Leadership comes in many forms. Leadership isn’t a one-size-fits-all concept. Tony believes leadership takes on different shapes, from political figures to sports captains to community facilitators. He shares that he never saw himself as a leader initially, but stepped into the role because it was needed. His journey proves that anyone can lead when they recognise the opportunity and take action.
- What it takes to be a good leader. Leadership isn’t about ease or natural ability, it requires stepping outside of rational judgment at times. Tony reflects that, looking back at the risks he took in his first five years, ‘no one in their right mind would have done the same’. But leadership is about belief, resilience, and the courage to take risks: “You’ve got to have a tolerance for uncertainty,” he says. “You need to hold onto your fundamental values and principles, push the pedal to the floor, and if it doesn’t work, change it.”Tony believes the potential for leadership exists in many people, but often, they just need to give themselves permission to be bolder.
- The power of communication. For Tony, effective communication is at the heart of great leadership. He spent nearly a decade honing his public speaking skills to ensure his message resonates with diverse audiences. He believes preparation is key and that people naturally seek strong leadership, so it’s essential to communicate with clarity and confidence.
- Lessons from success and failure. Tony shares both his proudest moments and his hardest lessons. From founding a business at 29 to creating meaningful work experiences for his team, he finds fulfilment in empowering others. However, not all ventures have been smooth sailing! His experience with a fraudulent IT partner cost his business dearly, forcing him to lay off 35 employees. His takeaway? We learn the most from failure, and resilience is essential for success.
- The role of community in payments. Tony envisions a payments industry driven by collaboration and innovation. He was initially reluctant to use the term “trade association” because it felt bureaucratic, but he realised that community-driven organisations like The Payments Association could reshape the industry’s image. Today, it boasts over 250 members worldwide, working together to drive meaningful change.
- Global innovation and the UK’s opportunity. Looking at global advancements, Tony highlights Brazil’s PIX system as a model for financial inclusion. By mandating industry-wide API integration, Brazil’s central bank helped reduce the unbanked population by 35 million people. Tony believes the UK needs similar bold action to remain competitive and drive innovation in the payments space.
Tony’s story is a powerful reminder that leadership is about stepping up, taking risks, and empowering others. Whether you’re in the payments industry or another field, his insights can inspire you to think differently about leadership, communication, and resilience.
Want to dive deeper into this conversation? Listen to the full podcast episode now! And if you enjoyed this discussion, be sure to subscribe and share it with others who might find it valuable.
Would you like to launch your own podcast? SkyParlour Productions is here to help! Contact us today to find out more.
