Podcasts Business Tech Can't Save Us S2 Ep38: Building More Accessible and Transparent Financial Services with Swastik Nigam from Winvesta

S2 Ep38: Building More Accessible and Transparent Financial Services with Swastik Nigam from Winvesta

Published: Feb. 23, 2023, 4:59 p.m.

Winvesta is a cross-border neobank that provides a wide variety of products to developing markets, including global banking accounts, investment portfolios, and payment collections. The company was born out of Swastik\u2019s desire to develop a product suite that would give investors in developing markets access to financial services in developed markets.\xa0
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\nIndia is the largest user base for some of the tech companies in the world, including Facebook. However, people were not able to invest in these companies; Swastik wanted to fix this.
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\nWe begin this episode by discussing this piece on the future of digital payments. \u201cThe promise of blockchain, which is a longer-term promise, remains, helping to drive trust and speed without necessarily being a currency itself,\u201d Swastik points out. \u201cBlockchain will continue aiding payments in various ways without necessarily aiding just the flow of crypto.\u201d\xa0
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\nThroughout all this talk about bitcoin and payments, Swastik is particularly interested in how businesses will continue to foster trust in an industry such as fintech, where people will only use your products if they trust you.
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\nGetting into the next piece on what\u2019s hot and what\u2019s not in the fintech space, Swastik continues to emphasize the need for trust, especially given that we\u2019re in a recessionary period. He points out that people are becoming far more conservative with their money, and as this happens, they are becoming \u201cless trusting of people they don\u2019t know,\u201d giving rise to the need for mitigating fraud and increasing trust in the system.
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\nWe delve into how the fintech ecosystem can benefit from transplanting use cases from emerging markets and how Winvesta has managed to increase speed, control, and transparency for both its retail and business customers. Our conversation also covers some predictions for the fintech space in 2023 and a new Tech product Swastik plans to build to automate task prioritization, complete with some self-adjustment capabilities.
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