In a market characterized by rapid change and high complexity, fintech companies like ZTL need tools that provide overview and control over incentive schemes. For ZTL, with a growing number of employees and a need for structure in the option program, Unlisted has become an important part of the solution.
Sabine Merky, CFO and HR manager at ZTL, joined the company in August 2023 with experience from larger, international companies. – "This is my first time working in a scale-up. Option programs are new to me – in my previous roles it was never part of the package."
ZTL was established in 2018 and currently has 18 employees, all based in Oslo, but with an international profile – the team speaks a total of 12 different languages. The company provides payment services for the B2B market through an open-banking platform that is fully integrated into ERP systems.
Previously, the option program was handled via Excel and PDF documents. Grants were made manually and signed electronically, but provided little oversight for employees. – "Employees had no control over how many options they actually had. Everyone had to have their own Excel to keep track of what had vested."
With Unlisted, ZTL has gained a platform that gives both management and employees full insight into the option program. – "Employees finally have control. They see what they have been awarded, what has vested, and what has been exercised."
Sabine explains that the collaboration with Unlisted has been close and effective. – "We have worked with Stein and developed better filtering options and overview. Although we still have a way to go internally to fully utilize the platform, it has been an incredibly good collaboration."
Not all employees are equally committed to the stock option program. – "Some are very interested, others don't care that much. For some, salary is more important because stock options don't pay the mortgage."
Still, Unlisted has made it easier to explain and visualize what the options mean. – "We have a young employee who is very interested and explains it to the rest of the team. It helps a lot."
The choice fell on Unlisted after a recommendation via network. – "We had done some research on different solutions, but Unlisted was the simplest and more adapted to our needs, especially when it comes to giving employees insight into their options."
Sabine is clear that Unlisted has been of great value to ZTL's option program. – "It provides a professionalism that we didn't have before. Employees experience more transparency and security."
To get the full benefit, she wishes they had adopted it earlier. – "I definitely recommend Unlisted to other companies – but start early!"
ZTL looks forward to further developing the use of Unlisted, Sabine particularly sees the value in having structure and insight. – "We should use it more. It's a very good solution, and we've received incredibly good support and follow-up."
With Unlisted, ZTL has put in place an important tool to professionalize and clarify the option program, which gives both employees and management a better overview, motivation and security.
