Richard Bangyay started his career as a banker with Canada Trust before the TD acquisition. By 1999, he moved to CIBC's Imperial Service, managing a $300 million portfolio of the bank's high-net-worth clients. By 2003, he transitioned into the insurance industry, and by 2006, he started his management company, Bangyay Capital Management Inc., where he had encountered problems during the 2008 financial crisis and was closed down by regulators.

The rebuilding process took work, and learning new industries is challenging; however, when "I" becomes "WE," problems become solutions. In 2011, a chance encounter with an experienced enterprise solution architect created Richard's first technology company, Revelatio Technologies, which built a software platform called LifeForce. LifeForce took advantage of the tablet form factor. Insurance agents do not need to bring paper-based application forms and optional forms such as Extreme Sports declaration. The optional forms are available on demand if the agent ticks the checkbox. Intuitive, time-saving, and efficient, from application to policy delivery in 15 days instead of the usual 30 to 40-day turnaround. The solution was presented to CLEIDIS, and the insurance agents who tried LifeForce loved the experience. A significant insurance company reviewed the platform and was impressed with its capabilities; however, it declined to implement it because the tablet computing form factor is in its infancy. There was a significant concern regarding market adaptability. Today, every insurance company uses an application to sell their policies, which proves that Richard Bangyay's vision 13 years ago for the insurance industry was the right way to do business.

After selling Revalatio Technology's IP, Richard Bangyay got into construction, building a 200-unit social housing project with cooperation with a local general contractor in Libreville, Gabon, a $20M beach townhomes resorts project financed by Barclays Bank in Grand Baie, Mauritius, and a potential housing project in the Philippines (stopped by COVID-19) taught Richard that people in different parts of the globe have the same need. A seamless, easy-to-understand payment system with minimal fees led to the founding of Merlin Payment Solutions Inc. in May of 2021.

Today, Merlin Solutions platforms solve challenges in the Financial and Medical industries. Leveraging artificial intelligence and machine learning, Merlin creates forward-looking products that give users advantages over traditional practices. Its AI-based medical diagnostic tool is being developed with Merlin's customers using their patient data, and its current form outperforms the incumbent software of a multi-million dollar company and is compatible with every medical device manufacturer, such as Philips Electronics. Merlin is also going into production with a financial company in Asia that has an automated lending system. This system automates lending adjudication, creating operational efficiency and increasing revenue margins.

Three and a half years after founding Merlin and after all the mistakes and pivoting, Richard Bangyay proves that focus and determination are vital to pushing forward a startup. He started by addressing a need, pivoting, reiterating, and reiterating again until a solution fit the need. He shared his secret: "Making mistakes and failing is part of it; quitting is not." Today, Merlin works with two enterprise-level customers, one in each vertical, medical and financial.

My final word, Merlin, is pointed in the right direction under Richard Bangyay's stewardship. They have a long way to go before being considered a unicorn startup. Still, Richard's determination, his "quitting is not an option" attitude, his ability to rally the right people around him, and his uncanny way of relating to customers tell me they have a good chance. That is all Richard told me: "Give me a chance, and I will see it through." Good luck, Merlin and Godspeed, Richard Bangyay.

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