How to Lead the Digital Charge
Fintech expert Magda Milas, Business Development Manager at Monri Payments, speaks with Alma Ribanovic, Group Practice Leader Affinity at GrECo Group about the profound impact of digital transformation on businesses, highlighting the essential role of leadership, the challenges faced, and the innovative solutions that are driving change.
The Definition and Importance of Digital Transformation in Business
Ribanovic: Can you define digital transformation and why it is important for businesses?
Milas: It’s not just about adopting new tech—it’s about rethinking how you work, serve customers, and create value in a digital world. In payments, this means agility, real-time access, personalization, and seamless user experiences. Innovation only works when it solves real problems.
Changing to Meet Customer Expectations
Ribanovic: What are key drivers behind digital transformation in an organisation?
Milas: The main driver is customer demand. People expect fast, simple, digital-first solutions. Fintech competition, regulations like PSD2 and MiCA, and the need for new revenue streams also push change. In ecommerce, better payment options reduce cart abandonment and boost conversions.
Transformation Occurs When People Believe in the Change
Ribanovic: What role does leadership play in successful digital transformation?
Milas: Leadership is critical. It’s not the tools that drive change—it’s the people behind them. Leaders must inspire, align teams, and communicate clearly. Resistance comes from uncertainty. Transparency, trust, and shared purpose make transformation stick.
Resistance to Change Creates the Biggest Hurdles
Ribanovic: Can you describe a digital transformation project you’ve worked on?
Milas: At a crypto startup during COVID, we launched a new crypto-based payment method in Croatian retail—overcoming regulation and building trust from scratch. I also led payment upgrades in telecom and ecommerce, simplifying processes and improving results. The biggest challenges? Legacy systems, resistance, and education—all addressed with communication and quick wins.
Defining KPIs Is Essential from the Start
Ribanovic: How do you measure the success or ROI of digital transformation initiatives?
Milas: KPIs should be defined from day one. Corporates look at revenue, cost savings, and timelines. Startups may focus on adoption or product-market fit. I use both quantitative (growth, efficiency) and qualitative (customer satisfaction, team engagement) indicators.
Treating Data as a Strategic Asset
Ribanovic: What role does data play in digital transformation, and how can companies use it effectively?
Milas: Data powers everything—from fraud detection to better decisions. But it’s only effective when it’s accessible, clean, and understood across departments. Whether you’re a startup or a large company, using data strategically creates smarter, faster, more human-centric services.
You Don’t Need a Big Budget to Move Forward
Ribanovic: How can small or mid-sized businesses approach digital transformation on a limited budget?
Milas: Start with one problem that improves customer experience. Use simple, affordable tools. Partner with bigger players to scale faster. Budget doesn’t define success—mindset and focus do.
Customer Experience First Is the Key to Survival
Ribanovic: How do you see the role of customer experience evolving with digital transformation?
Milas: It’s the heart of everything. In payments, people expect fast, secure, invisible experiences. Tech should make life easier, not more complicated. Companies that don’t prioritize customer experience won’t survive. The real magic? Making complexity disappear for the user.
About Magda Milas
Magda Milas is Business Development Manager at Monri Payments, a fintech expert, and a leader in promoting women in the industry as President of Alice in Blockchains and Executive Board Member at EWPN.
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