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

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’s desire to develop a product suite that would give investors in developing markets access to financial services in developed markets.

India 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.

We begin this episode by discussing this piece on the future of digital payments. “The promise of blockchain, which is a longer-term promise, remains, helping to drive trust and speed without necessarily being a currency itself,” Swastik points out. “Blockchain will continue aiding payments in various ways without necessarily aiding just the flow of crypto.”

Throughout 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.

Getting into the next piece on what’s hot and what’s not in the fintech space, Swastik continues to emphasize the need for trust, especially given that we’re in a recessionary period. He points out that people are becoming far more conservative with their money, and as this happens, they are becoming “less trusting of people they don’t know,” giving rise to the need for mitigating fraud and increasing trust in the system.

We 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.