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December, 2018
Archive

1895

From Book to Bank: How a Fintech Firm Found Its Calling

via Knowledge@Wharton

In the rapidly evolving world of fintechs, cutting-edge intermediaries that seek to disrupt traditional banking or cater to underserved niches, success depends on rigorous customer screening and proactive regulatory compliance, according to Vladislav (Slava) Solodkiy, cofounder and CEO of Puerto Rico-based Arival Bank. Solodkiy is also managing partner at Life.SREDA, a Singapore-based venture capital firm that over the past six years has invested in more than 20 fintech startups and successfully exited from nine. He has documented his journey from a fintech investor to a founder of a digital bank in his book, The First Fintech Bank’s Arival – From Book to Bank in 12 Months.

Arival claims to be the first digital fintech bank to be focused on small businesses, the so-called “gig economy” of entrepreneurs, freelancers and startups, and small and medium-sized business enterprises that use crypto currencies to receive and pay money. While it may be difficult to identify the ‘bad guys’ among those customers — who could be money launderers or others with dubious backgrounds — prompt reporting of problem cases to regulators and remedial action to prevent future occurrences could save fintechs from hefty fines, according to Solodkiy and Arival’s chief operating officer, Jeremy Berger. Arival is now in the process of securing a federal banking license in the U.S. and exploring similar licenses in Europe and Asia. Solodkiy and Berger shared insights into their strategies for Arival Bank and the road ahead for fintechs in an interview with Knowledge@Wharton. (more…)

About, Banks, Cryptocurrencies, Hotnews, Open Source/ API, People of fintech

December 20, 2018

6435

How the Banking Status Quo is Being Challenged in the Age of Fintech and APIs

 

It’s no secret that digital disruption is challenging the status quo in the banking world. The Digital Banking Asia Summit team spoke with Jeremy Berger, Chief Operating Officer at Arival Bank, a venture-backed digital banking startup for SMEs, to discuss new trends, innovating models, APIs and open banking. Jeremy is also the Portfolio Director of Life.SREDA, one of the first fintech only venture capital funds in Southeast Asia.

Additionally, Jeremy helped create (and now advises) Goldbell Investments, the corporate VC arm of the Goldbell Group, focusing on investments in fintech, mobility and automotive innovations. Prior to joining the venture capital and startup scene in Singapore, Jeremy worked for various fintech startups as well as one of the largest wealth management firms in the US.

(more…)

About, Banks, Hotnews, Influences FinTech, Open Source/ API, People of fintech

December 17, 2018

6569

The First Design Thinking Bank

The story of a London Design Awards winner

As a perfect way to celebrate the end of 2018, Arival Bank came home as winners yet again. This time at DRIVENxDESIGN London Design Awards 2018 – a prestigious award in the field of product, spaces and ‘digital&experience’ design. Since 2014, the Awards’ constant purpose is to “accelerate transformation, celebrate courage and growing demand for design.” The credit for yet another trophy (last month, Arival won Finovate 2018 in Hong Kong and FintechInn in Lithuania) goes to Vladimir Belyakov, Art Director of Arival Bank.

Vladimir’s prior collaboration with Life.SREDA Venture Capital, who would later create the first digital fintech bank for SMEs, started over three years ago. With an impressive portfolio of corporate identity in his back pocket as he developed the globally recognized Life.SREDA brand and Arival Bank thereafter, one of his best projects by far.

This is the story of Arival Bank from Vladimir’s perspective. A story about creativity, constant search for identity, user experience and true teamwork.

(more…)

Banks, Design, Influences FinTech, Interviews

December 11, 2018