Business

David Seruya: How to Prevent Burning Out When Running a Business?

Published

3 years ago

September 5, 2022

Burnout does not only deal with the body but also with one’s mind and emotions. It’s likely to occur when you’re faced with repeatedly stressful situations — which is common for business owners who have a lot of responsibilities on their shoulders.

Suffice to say that, as a business owner, burnout is something that should be prevented at all costs. After all, you not only have to take care of yourself but also the men and women that you have working under you.

Preventing Burnout

For David Seruya, who has started up several businesses, the stress of running a business is certainly not new. As a result, he’s cultivated his own methods of preventing burnout to ensure that he can continue to run his business smoothly:

5 Unique Ways to Preventing Burnout

Note that some of the methods listed below may or may not apply to you. Some may also work better for you than others. This is to be expected, as everyone has their own unique needs. So, take care when trying things out to find out what will work for you and your own circumstances:

1. Spend some downtime with family and friends

Family Outing

David Seruya’s preferred method of de-stressing and preventing burnout is spending time with his family. He stated that he’s always been a family man and that he’s long admired his father for being able to juggle his work and personal life so well over the years.

His goal is to become just like his dad in this case and, as such, has always reserved time to spend with his family during the weekends — going as far as to completely cut himself off from his work emails and messages during breaks! In this way, he’s able to relieve some of the stress from work and separate himself from the burden of his responsibilities for a time.

It’s not a completely foolproof solution for some, as it doesn’t necessarily take care of the underlying causes of stress, but this method should at least help you start fresh mentally and be more prepared to deal with whatever is causing you so much troubles.

2. Organize your work and root out inefficiencies

Organize Your Work Process

The previous method is actually closely related to this one. More specifically, you need to get yourself into a better state so that you can effectively get your work back on track.

Most of the time, the reason for stress for business leaders is a failure in their own processes. This can take many forms, from something as simple as disorganized documents or rowdy employees causing trouble. Whatever it is, David Seruya suggests that you take the time to dig the rotten root out. By doing so, you can stand stronger and grow more comfortably.

3. Prioritize the most important tasks

Another thing that might be causing your issues is the fact that you have been inundated with tons of tasks and too little time to take care of them all. If so, then the first thing you should do is establish which of these tasks is most important to you and work on them correspondingly.

David Seruya stated that, if there is really no time to accomplish all tasks, then this would be the time to accept the fact that you won’t be able to get them all done. At which point, you should begin to look for alternative solutions or alert the client/customer accordingly.

4. Delegate tasks

Delegating Tasks

One of the biggest mistakes a leader can make is not trusting their team enough to let them take on some heavier responsibilities. If that’s the case for you, then you need to seriously consider the people under your charge and whether or not you’re lack of trust is a result of their own failures or a failure to choose the right candidate for the job in the beginning.

Whatever the case may be, you need to figure out how to solve the problem so that you can have people at your disposal that you can rely on when things get rough.

5. Review your end goals

If what’s making you burn out is your state of mind, then a “refresh” in your thinking might help more than the other methods introduced thus far. For this, David Seruya suggests that you take a look at your end goal and the reward awaiting along with success. In this way, you can hopefully start to reinvigorate your spirits and focus on growing your business.

Review Your Goals

Business

How Black Banx Has Sped Digital Payments Into Its Global Phase

Published

4 hours ago

March 13, 2025

Matthew Wiles

The payments industry has grown substantially in the last decade, with digital transactions now practically a given in most parts of the world. A key contributor to this globalization of payments has been Black Banx, a Toronto-based global digital bank founded by German billionaire Michael Gastauer.

Through innovative fintech solutions, a commitment to financial inclusion, and strategic investments in blockchain and artificial intelligence, the company continues to make transactions quicker and easier no matter where the sender or receiver is in the world.

The Cross-Border Payment Boom

Global transactions have never been more essential to the world economy. From businesses engaging in international trade to individuals sending remittances back home, the demand for fast and cost-effective cross-border payments has skyrocketed. In fact, FXCintelligence projects that the cross-border payments market will hit an astonishing US$290 trillion by 2030, driven by the rise of e-commerce and digital trade.

Historically, moving money across borders wasn’t simple. Traditional banking relied on a complex web of intermediaries, leading to slow processing times, high fees, and inefficiencies. But fintech has changed the game. Companies like Black Banx have introduced digital-first solutions that eliminate unnecessary middlemen, enabling instant, affordable transactions.

Black Banx’s Rapid Growth: A Testament to Demand

Black Banx has experienced explosive growth, reflecting the increasing demand for seamless global payments. By the end of 2024, the company’s customer base had expanded to 69 million users across 180+ countries—a staggering 76% growth from 39 million in 2023.

This growth wasn’t accidental. Black Banx’s success stems from its ability to offer frictionless cross-border banking, catering to individuals and businesses worldwide. It’s offerings include:

Instant Multi-Currency Accounts – Customers can open accounts online within minutes, eliminating the need for physical bank visits.
Cryptocurrency Integration – Black Banx has accepted Bitcoin and Ethereum since 2016 and expanded its crypto services in 2024 by integrating Solana and the Lightning Network, allowing for ultra-fast, low-cost cross-border transfers.
Zero-Intermediary Transfers – By leveraging blockchain technology, the company bypasses traditional banking infrastructure, significantly reducing fees and processing times.

AI-Powered Payments: Enhancing Speed and Security

If there’s one technology that has reshaped digital payments in 2024, it’s artificial intelligence. AI is now at the heart of fraud detection, customer service, and transaction optimization, making global payments more secure and efficient.

Black Banx has fully embraced AI, using predictive analytics and automated systems to streamline operations. AI-driven chatbots handle customer inquiries, reducing response times and improving service efficiency. Meanwhile, real-time fraud detection algorithms flag suspicious transactions, preventing financial losses and building customer trust.

The results? Black Banx achieved a cost/income ratio of just 68% in 2024—one of the best in the industry—demonstrating how AI-powered automation can drive profitability while maintaining top-tier service.

Financial Inclusion: Breaking Down Barriers

Despite living in a digital age, over 1.4 billion people worldwide remain unbanked, according to the World Bank. Traditional banks have long failed to serve these individuals due to bureaucratic hurdles, geographic limitations, and high fees. Black Banx has made financial inclusion one of its core missions, particularly in underbanked regions like Africa, the Middle East, and parts of Asia-Pacific.

In 2024, the company’s impact on financial inclusion was profound:

32% year-over-year increase in SME clients in Africa and the Middle East – Black Banx empowered businesses in these regions with seamless digital banking services, reducing reliance on inefficient traditional banking channels.
Instant digital accounts with minimal documentation – Unlike traditional banks, which require extensive paperwork, Black Banx allows users to open accounts quickly, enabling greater access to financial services.
Affordable cross-border transactions – By eliminating intermediaries, the company ensures that even those in remote regions can send and receive payments without excessive fees.

The Future of Cross-Border Payments: Crypto and Blockchain

Cryptocurrency is no longer a niche asset—it’s gradually become a key cog in the global payments machine. Recognizing this early on, Black Banx became one of the first digital banks to integrate Bitcoin and Ethereum into its platform back in 2016.

In 2024, the company doubled down on its crypto-first strategy, incorporating Solana and the Lightning Network. These technologies allow users to complete cross-border transactions in seconds while avoiding the high fees and delays associated with traditional banking infrastructure.

Black Banx is also exploring crypto-based lending services, a move that could disrupt traditional financial models even further. If successful, decentralized finance (DeFi) solutions could provide businesses and individuals with access to capital without the constraints of conventional banking regulations.

A Year of Record-Breaking Financial Success

While many tech companies faced financial turbulence in 2024, Black Banx defied expectations, posting record-breaking numbers:

Annual revenue: US$11.1 billion (exceeding the forecasted US$10.8 billion)
Pre-tax profit: US$3.6 billion (far surpassing the original US$2.4 billion projection)
Customer base: 69 million users worldwide
Cost/income ratio: 68% – demonstrating operational efficiency
Capital distributions: US$2.90 per share

Black Banx’s financial success highlights the immense demand for efficient digital banking services, proving that fintech is not just a disruptor but the future of global finance.

What’s Next for Black Banx in 2025?

Given its past success, Black Banx is setting ambitious goals to build on its 2024 momentum. The company aims to:

Expand its customer base to 100 million users – By reaching more individuals in emerging markets, Black Banx hopes to further its mission of financial inclusion.
Strengthen its presence in digital asset banking – With growing demand for cryptocurrency-based financial services, the company will continue integrating blockchain solutions.
Enhance global payments infrastructure – By entering new markets and refining its AI-driven systems, Black Banx plans to make transactions even faster and more accessible.
Lower its cost/income ratio – Through further automation and AI optimization, the company aims to improve operational efficiency.

By embracing AI, blockchain, and a relentless commitment to financial inclusion, Black Banx has clearly been key in accelerating the transition of the world to a truly global payments system.