Top Influential Fintech Leaders Redefining the Finance & Banking Industry in 2024

Leadership is not about titles, positions, or owcharts. It is about one life inuencing another. J O H N C . M A X W E L L

Editor’s VIEW How Progressive Leaders Drive Innovation in Fintech e can all agree that leadership styles severely impact employee productivity, inter-departmental communication, and product W and business development. Leaders are essentially meant to enhance employees' commitment towards reaching their full potential by achieving a value-added shared vision with integrity and passion. The role of progressive and visionary leadership is all-important when it comes to new sectors like fintech. Leadership needs to be able to envision the future and be ahead of the curve when it comes to taking bold business decisions. The future of business lies in digital transformation, and it requires a pragmatic leader with the foresight to set the enterprise on the right path. Financial services businesses have undergone more change in the last three years than in the last three decades. It's very important for people leading engineering and product teams within financial institutions to respond quickly to market dynamics, underlying technical changes, and improvements to their services. Leaders also have to show a lot of empathy towards customers and their needs, which has become one of the most important factors in the success of new financial services companies. Overall, being responsible for other people's money is a challenging task, and being a person with a lot of integrity and empathy is of the essence. Leaders come in different shapes and sizes, and people from different backgrounds and experiences tend to bring unique perspectives on things. The fintech landscape is evolving rapidly. We need people with more and more diverse ideas on how to make financial tools universally available to empower people towards their individual progress. This requires a good understanding of how technology is evolving in terms of payments, banking, investing, and lending, among others. At the same time, one also needs good observation skills toward consumer behavior and trends. Mapping the journey of the visionary leaders who are transforming the future of the fintech sector, Insights Success sheds light on‘Top Influential Fintech Leaders Redefining the Finance & Banking Industry in 2024.’ Flip through the pages and indulge yourself in the odyssey of prolonged excellence. Have a Delightful Read!

Creds Editor in chief Merry D'Souza Managing Editor Preston Bannister Executive Editor Eva Miller Visualizer Michael Warner Art & Design Head Donna Claus Co-designer Yasmin Nasser Business Development Manager Sherin Rodricks Marketing Manager Jenny Jordan Business Development Executive Reem Almasoud, Sheldon Miller Digital Marketing Manager Isabel Barnes Technical Head Phil Simon Research Analyst Helena Smith Circulation Manager Finn Wilson sales@insightssuccess.com July, 2024 Corporate Ofce Insights Success Media Tech LLC 555 Metro Place North, Suite 100, Dublin, OH 43017, United States Phone - (614)-859-2600 Email: info@insightssuccess.com For Subscription: www.insightssuccess.com www.twitter.com/insightssuccess Follow us on : www.facebook.com/insightssuccess/ We are also available on : RNI No.: MAHENG/2018/75953 Copyright © 2024 Insights Success Media and Technology Pvt. Ltd., All rights reserved. The content and images used in this magazine should not be reproduced or transmitted in any form or by any means, electronic, mechanical, photocopying, recording or otherwise, without prior permission from Insights Success. Reprint rights remain solely with Insights Success.

Contents COVER STORY Khang Pham Ngoc Redefining the Boundaries of Conventional Banking 08. PROFILES Additiv The Right Technology Partner for your Digital 18. Wealth and Investment Management Asignio Empowering Financial Institutions with 24. Secure Autentication Solutions Bank One Limited A Robust Commercial Bank for the Digital Age 32. FinMKT Empowering Companies with Best-in-class 36. Technology for Scalable Growth FinLocker Keeping Customers and Business Financially Fit 44. ARTICLES Fintech Frontiers Bridging Gapsin the Financial Landscape 28. Fintech Unleashed 40. Pioneering the Future of Financial Services

Company Name Featuring Descrip?on Bart Vanhaeren is a co-founder of InvestSuite, passionate Bart Vanhaeren about delivering innova?ve investment solu?ons that InvestSuite empower financial ins?tu?ons and enhance customer www.investsuite.com CEO & co-founder engagement in wealth management. Brian Vieaux is an opera?ons strategist at FinLocker, dedicated Brian Vieaux FinLocker to developing user-centric financial tools that simplify personal President & Chief www.finlocker.com finance management and enhance customer engagement. Opera?ng Officer Bruce Lowthers is a strategic leader at Paysafe, focused on Paysafe driving growth and innova?on in payment solu?ons to Bruce Lowthers www.paysafe.com enhance user experiences and support businesses in the CEO and Execu?ve Director digital economy. Chris?ne Schmid is a strategic leader at Addi?v, driving innova?ve embedded finance solu?ons to empower wealth Chris?ne Schmid Addi?v managers and enhance client experiences in the financial Head Strategy www.addi?v.com services sector. David Jarvis is a forward-thinking entrepreneur at Griffin, David Jarvis Griffin dedicated to building a pla?orm that simplifies financial Founder & Chief www.griffin.com services and enhances accessibility for businesses and Execu?ve Officer individuals alike. Julian Mwika is a digital services expert at Bank One Limited, focused on leveraging technology to enhance banking Julian Mwika Bank One Limited experiences and drive digital transforma?on within the Head of Digital Services www.bankone.mu financial sector. Rising from Chief Finance Officer at Home Credit Vietnam to Home Credit leading one of Vietnam’s most innova?ve financial ins?tu?ons, Vietnam Finance Khang Pham Ngoc he is pioneering new fron?ers at the intersec?on of banking Company Limited General Director and socioeconomic impact. www.homecredit.vn Kyle Rutherford is a visionary entrepreneur behind Asigno, Asigno dedicated to transforming the digital landscape with cu?ng- Kyle Rutherford www.asigno.es edge solu?ons that streamline processes and enhance user Founder & CEO engagement in various industries. Luan Cox is an innova?ve leader at FinMkt, commi?ed to Luan Cox crea?ng efficient financial solu?ons that empower FinMkt Founder, Chief businesses and individuals to navigate the complexi?es of www.finmkt.io Execu?ve Officer modern finance. Paul Kawtal is a dynamic leader at Till Payments, focused on Till Payments Paul Kawtal revolu?onizing payment solu?ons to enhance customer www.?llpayments.com CEO experiences and drive business growth across various sectors.

be our doubts of today., , The only limit to our realization of tomorrow will - Franklin D. Roosevelt

Khang Pham Ngoc General Director Home Credit Vietnam Finance Company Limited

Top Influential Fintech Leaders Redefining the Finance & Banking Industry in 2024

Empowering Individuals and frontiers at the intersection of banking Vietnam's digital-first business model. Communities through Financial and socioeconomic impact. By leveraging cutting-edge fintech Solutions capabilities, the team meets consumers Home Credit Vietnam’s ethos hinges on the digital platforms they frequent inance is about far more than on sustainable and community-driven most, offering customized lending just numbers on a balance financial solutions. The company options tailored to their unique needs F sheet. It's about discovering supports people underserved by and means. human potential and creating inclusive traditional banks. This aligns directly economic opportunities that empower with the government's financial Let us learn more about his journey: people and uplift communities. inclusion strategy, opening doors to new opportunities for these customers. The path to Home Credit Vietnam This forward-thinking philosophy from “Our mission goes beyond just offering Khang Pham Ngoc, General Director financial products,” Khang affirms. Khang's journey to Home Credit of Home Credit Vietnam Finance “We empower our vulnerable and Vietnam wasn't random, as he harbored Company Limited, captures his unbanked customers to access simple a vision for the future from a young visionary approach to leadership. and quick loan packages in line with age. Rising from Chief Finance Officer at their financial capacities.” Home Credit Vietnam to leading one of Vietnam's most innovative financial This inclusive philosophy harmonizes institutions, he is pioneering new seamlessly with Home Credit

At just 12 years old, he identified his roles in France. This breadth of need to return to Vietnam for family ambition: Banker or CEO. This early experience has not only honed his reasons. This confluence of fate and aspiration planted the seed that would skills as a finance professional but has opportunity led him to his current guide his career path. also imbued him with a profound position in this industry, and he has understanding of business operations now been with Home Credit Vietnam For Khang, the path to realizing his and strategy. From navigating the for over 6 years. childhood dream was not without its complexities of corporate finance to challenges and obstacles. Over the spearheading strategic initiatives, his Driving Financial Eminence course of 23 years, he navigated multifaceted career path reflects his through the finance industry, diligently versatility and agility in adapting to In his position, Khang recognises the honing his skills and accumulating diverse environments and challenges. profound significance of numbers in invaluable experiences along the way. shaping organizational strategy and However, his journey back to Vietnam execution, and holds a deep-seated Before returning to Vietnam to work and into consumer finance wasn't desire to forge meaningful connections for Home Credit, he had spent a long entirely preordained. By chance, his between financial data and business career in various financial previous manager sought a CFO in objectives – therefore assumes a management and planning Vietnam with a double culture multifaceted role that transcends background, which coincided with his traditional financial responsibilities.

At the heart of his role lies a dual He has already demonstrated an ability mandate: to act as both a defender and to go beyond expectations by an enabler of the organization's encouraging open communication and financial health. In his capacity as a collaborative partnerships with internal defender, Khang ensures discipline and teams and external stakeholders. effectiveness in operational processes. Khang cultivates an environment of This instills confidence in stakeholders trust and mutual respect, where diverse and mitigates risks, thereby fortifying perspectives are valued, and the foundation upon which the constructive dialogue thrives. organization's success rests. Navigating Challenges, Embracing Conversely, as an enabler, he catalyzes Opportunities: The Future of innovation and strategic empowerment, Finance in Vietnam: creating a culture of continuous improvement and forward-thinking Khang's position as General Director at within the organization. Home Credit Vietnam grants him a unique position to observe and Central to Khang's approach is a focus anticipate the future trajectory of the on striking the delicate balance finance industry in Vietnam. In this between short-term objectives and ever-evolving landscape, he identifies a long-term goals. Leveraging his myriad of challenges and opportunities financial acumen, he deftly allocates that will shape the industry's course in resources and capital to maximize the years to come. returns while safeguarding the organization's long-term sustainability. At the forefront of opportunities lies By adopting a strategic lens that Vietnam's rapidly growing middle class reaches beyond immediate gains, he and their increasing embrace of digital ensures that every financial decision is technologies. With a population that is aligned with the overarching vision becoming increasingly connected and and mission of the organization. laying tech-savvy, the market presents vast the groundwork for enduring success opportunities for financial inclusion and prosperity. and digital innovation. As consumers

seek convenient and accessible financial solutions, there is a growing demand for digital banking services and mobile payment platforms, driving the need for agile and customer-centric fintech solutions. Moreover, Vietnam's robust macroeconomic fundamentals and favorable demographic trends further bolster the outlook for the finance industry. With a young and dynamic population, coupled with sustained economic growth, Vietnam stands poised to become a key player in the global financial landscape. As the country continues to attract investment and encourages innovation, the finance sector is primed to play a pivotal role in driving economic development. However, amidst these opportunities, he acknowledges the presence of significant challenges that must be navigated to ensure sustainable growth and resilience. One such challenge is the issue of market fragmentation, characterized by the presence of numerous players operating in silos, often resulting in inefficiencies and duplication of efforts. In a fragmented market, achieving scale and nurturing collaboration becomes increasingly challenging, hindering the industry's ability to realize its full potential. Furthermore, global economic uncertainties and geopolitical tensions present additional headwinds for the finance industry, posing risks to stability and growth. As Vietnam's economy becomes increasingly interconnected with the global market, it becomes susceptible to external shocks and volatility, necessitating prudent risk management practices and strategic foresight. Despite these challenges, Khang remains resolute in his optimism about the future of consumer finance of Home Credit and the economy of Vietnam in general.

With a relentless drive to excellence borrowing, budgeting, and saving can to deploy loan packages as well as and a focus on creating value for help them avoid irresponsible lenders financial and livelihood support customers and communities, Home and achieve their long-term financial programmes for disadvantaged women Credit believes that the industry has the goals and avoid bad debt. in localities nationwide. As a result, resilience and adaptability to overcome hundreds of disadvantaged women and obstacles and thrive in the face of Sustainable Finance for a Brighter their families have received support to adversity. Future: improve their income and quality of life. A recent report by Decision Lab, in Home Credit Vietnam's mission is to collaboration with Home Credit empower people to live the life they Within the framework of the project, Vietnam has shown that despite the want. They achieve this by providing Home Credit also organises training greater demand for consumer credit accessible and responsible financial sessions on financial management and and personal finance products, not all solutions. These solutions, including livelihood skills for women under consumers can borrow from banks. service cash loans, installment loans Home Credit's comprehensive digital for motorbikes, and consumer goods financial model. The report says that those on low through 16,000 points-of-sales incomes might not have the paperwork nationwide, empower people to pursue Moreover, Home Credit Vietnam required for a bank loan. About a third their dreams, achieve their goals, and embraces digitalization as a means to of people either do not have or would build a brighter future for themselves enhance its sustainability efforts and not be comfortable providing their and their families. Home Credit deliver greater value to its customers. labour contract (31%) or wage slip Vietnam strives to make a meaningful By leveraging progressive technologies (33%) as part of a loan application. impact in the lives of its customers. and digital platforms like the Home App and Home PayLater, the company This lack of access to loans is However, the company's obligation to aims to streamline processes, improve increasing the appeal of credit cards sustainability goes beyond its core efficiency, and enhance the overall and buy-now-pay-later (BNPL) plans. business operations and puts customer experience. From digital Almost half (44%) of people used a environmental, social, governance onboarding and loan approval credit card over the last 12 months. (ESG) at the heart of its commitment processes to online financial education Meanwhile, BNPL has amassed a 16% to responsible business in Vietnam. resources and mobile services, Home share of the consumer credit market Home Credit is also the pioneering Credit Vietnam is at the forefront of despite being a relative newcomer to consumer finance company in Vietnam, driving digital transformation in the Vietnam. applying ESG principles to all finance industry. activities Consumer finance companies such as Led by Khang Pham Ngoc, Home Home Credit can help to bridge the For example, to improve financial Credit Vietnam is driving positive gaps in access to credit and financial literacy, Home Credit has accompanied social impact in 2024 by providing literacy. Unlike banks, consumer the Communications Department under accessible and responsible financial finance companies can make it easier the State Bank of Vietnam to develop solutions. for people on low incomes to access the Smart Money series on television credit through simpler application and radio. In addition, this digi-finance "We do things right by focusing on the forms, faster approval procedures, and company also collaborated with customer," emphasizes Khang. This more convenient digital platforms. This Vietnamese financial experts to publish translates to prioritizing customer helps them achieve their daily financial the book “Now you Know - A Guide of needs across both their financial goals to enable them to feel good and Smart Money Management.” services and online offerings, positive about life. ultimately serving the well-being of the To support the community, it has Vietnamese community. Meanwhile, consumer finance embarked on the Home for Life companies are in a position to project, in which Home Credit helps empower people to take control of their women take control of their lives. For money through strengthening financial nearly 10 years, Home Credit has literacy. Educating customers on coordinated with local women's unions

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Leadership is not about being in charge, Its about taking care of those in your charge. - Simon Sinek

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he financial landscape, once a rigid tapestry woven they are chipping away at the stigma associated with from brick-and-mortar banks and paper statements, financial exclusion, paving the way for greater economic T is rapidly unraveling and reweaving with threads of participation. code and algorithms. This transformation, spearheaded by the audacious and agile explorers of the fintech frontiers, Micro-lending Microscopes aims not only to modernize but also to fundamentally bridge the gaping holes that have rendered certain Access to credit is often the missing piece in the puzzle of populations and economies financially underserved. financial well-being. Traditional banks, however, often view small loans as an unprofitable gamble. Enter micro-lending The Chasm of Exclusion platforms powered by fintech. These platforms leverage data analytics and alternative credit scoring models to For millions, navigating the financial system feels like assess loanworthiness beyond traditional metrics. This scaling a sheer cliff face. Lack of access to traditional allows them to cater to underserved communities, enabling banking services, limited financial literacy, and stringent small businesses to flourish, farmers to invest in their crops, credit requirements leave many stranded on the fringes, and individuals to finance healthcare emergencies. Kiva, in unable to build wealth, weather emergencies, or participate the US, and Zidisha, in Africa, are prime examples of how in the burgeoning digital economy. Fintech ventures, micro-lending is providing life-changing access to capital however, are scaling these cliffs with innovative tools, for those who have long been ignored by traditional aiming to extend a bridge of financial inclusion to every institutions. corner. Financial Literacy Beacons Mobile Money Marvels Knowledge is power, and nowhere is this truer than in the Imagine a world where your phone doubles as your bank, realm of personal finance. However, a lack of awareness your wallet, and your financial advisor. Fintech is making about fundamental financial concepts leaves many this a reality with mobile money solutions. In regions where vulnerable to predatory practices and poor financial bank branches are scarce, these platforms are enabling decisions. Fintech is stepping up to illuminate the path with unbanked populations to save, send, and receive money financial literacy initiatives. Educational apps, interactive through their mobile phones. In Kenya, M-Pesa games, and bite-sized explainer videos simplify complex revolutionized rural economies, while Bangladesh's bKash financial terms and empower individuals to manage their empowered women with financial independence. These money better. Platforms like Mint and PocketGuard are mobile marvels are not just bridging the geographical gap; helping users track expenses, understand budgeting, and 28 July, 2024 www.insightssuccess.com

Fintech Fron?ers 29 July, 2024 www.insightssuccess.com

make informed investment decisions, while robo-advisors future. By closing the chasms of exclusion, empowering like Betterment and Wealthfront are democratizing access individuals with knowledge, and tackling the challenges of to expert financial guidance. bias and ethics, fintech has the potential to unlock a world where everyone, regardless of background or circumstance, The Invisible Walls of Bias can fully participate in the vibrant tapestry of financial well- being. The journey is ongoing, but the promise is clear: Even within the traditional financial system, bias and through collaborative efforts, responsible innovation, and an discrimination can create invisible walls, disadvantaging unwavering commitment to inclusivity, fintech can truly certain groups based on factors like race, gender, or credit bridge the gaps and build a financial future that works for history. Fintech is using its analytical prowess to challenge everyone. these walls with AI-powered algorithms. By factoring in alternative data points and mitigating unconscious biases, these algorithms aim to provide fairer credit assessments, insurance quotes, and investment opportunities. While concerns about algorithmic bias remain, responsible development and robust oversight can ensure that technology becomes a tool for financial equity, not inequality. Collaborating Across the Divide Bridging the gaps in the financial landscape requires more than just innovative tools; it demands collaboration. Fintech partnerships with established financial institutions can leverage the strengths of both worlds. Banks can provide the regulatory framework and physical infrastructure, while fintech startups can inject agility, innovation, and customer- centricity. Such partnerships have the potential to create hybrid models that serve diverse needs and unlock the full potential of financial inclusion. Navigating the Ethical Minefield The rapid pace of fintech innovation must be accompanied by a commitment to ethical practices and responsible growth. Concerns around data privacy, algorithmic fairness, and cybersecurity need to be addressed proactively. Regulatory frameworks must evolve to keep pace with innovation, ensuring consumer protection without stifling creativity. Responsible development and ethical considerations are not roadblocks; they are the guardrails that will ensure that the fintech revolution benefits everyone, not just a select few. To Conclude, The financial landscape is no longer a static map; it's a dynamic canvas being reshaped by the brushstrokes of fintech innovation. These daring frontiersmen and women are not just filling in the gaps; they are painting a picture of a more inclusive, accessible, and empowered financial 30 July, 2024 www.insightssuccess.com

Success is not how high you have climbed, but how you make a positive difference to the world. - Roy T. Bennett

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Pioneering theFutureof Financial Services 40 July, 2024 www.insightssuccess.com

Fintech Unleashed he financial services industry, once shrouded in an convenience. These seamless interactions not only save aura of formality and inaccessibility, is undergoing time and frustration but also foster a sense of control and T a tectonic shift. At the forefront of this revolution empowerment over one’s finances. stands fintech, a potent blend of finance and technology, redefining how we manage money, borrow funds, and Innovation on Demand invest for the future. This unleashed force is not merely disrupting the status quo; it’s building an entirely new Unlike the lumbering giants of traditional finance, fintech landscape where finance is user-centric, frictionless, and startups are fueled by agility and innovation. They can accessible to all. experiment with new technologies, adapt to changing consumer needs, and launch new products at lightning Democratizing Finance speed. Blockchain technology, for instance, is being explored to create secure and transparent platforms for One of the most transformative aspects of fintech lies in its cross-border payments, remittances, and asset management. ability to democratize finance. Traditional financial Artificial intelligence is revolutionizing fraud detection, institutions, with their rigid structures and high entry personalized financial advice, and automated wealth barriers, often excluded large sections of the population. management. Fintech companies are at the forefront of these cutting-edge advancements, constantly pushing the Fintech startups, however, are leveraging technology to boundaries of what’s possible and ensuring that financial bridge this gap. Mobile banking apps have brought financial services remain relevant and dynamic in the face of ever- services within the reach of even those with limited access evolving challenges and opportunities. to physical branches. Micro-investing platforms allow individuals to participate in the stock market with mere Personalized Touch spare change. Peer-to-peer lending platforms bypass traditional banks, connecting borrowers and investors and democratizing access to credit. This inclusivity is not just a Financial decisions are deeply personal, yet traditional moral imperative; it’s also an economic catalyst, unlocking banks often treat customers as one-size-fits-all numbers. the potential of millions who were previously left behind. Fintech, however, is ushering in an era of personalized financial services. AI-powered algorithms analyze your Frictionless Experiences spending habits, financial goals, and risk tolerance to offer customized investment portfolios, loan options, and Forget waiting in long queues or filling out mountains of insurance plans. Robo-advisors provide personalized paperwork. Fintech is all about frictionless experiences that financial advice tailored to your unique circumstances, make managing finances effortless. Imagine paying bills, democratizing access to wealth management strategies that transferring funds, or applying for loans with just a few were once the exclusive domain of the affluent. This shift clicks or voice commands. AI-powered chatbots answer towards personalization ensures that financial products and your queries instantly, while machine learning algorithms services truly meet the needs of each individual, leading to personalize your financial products and services. Biometric better financial outcomes and a stronger sense of financial authentication eliminates the need for cumbersome well-being. passwords, adding an extra layer of security and 41 July, 2024 www.insightssuccess.com

Challenges and Considerations As with any transformative force, fintech comes with its own set of challenges and considerations. Data privacy and security are paramount concerns as fintech companies handle sensitive financial information. Robust regulations are crucial to ensure consumer protection and prevent systemic risks. Additionally, the rapid pace of innovation can be overwhelming for some consumers, and digital literacy needs to be addressed to bridge the gap and ensure inclusive access to the benefits of fintech. A Collaborative Future The future of finance is not about fintech replacing traditional institutions; it’s about collaboration and co- creation. Banks and fintech startups can work together to leverage each other’s strengths - the established infrastructure and regulatory compliance of traditional banks combined with the agility and innovation of fintech. This symbiotic relationship can pave the way for a truly user-centric financial ecosystem where the needs of the individual are placed at the heart of every decision. In conclusion, fintech is not just a buzzword; it’s a revolution in the making. It’s about empowering individuals, making finance accessible, and shaping a future where money works for everyone. By embracing innovation, fostering collaboration, and ensuring responsible growth, fintech has the potential to transform the financial landscape, unleashing a wave of prosperity and inclusivity for generations to come. The race to pioneer the future of financial services is on, and those who embrace the power of fintech will be the ones who shape the course of this exciting and transformative journey. 42 July, 2024 www.insightssuccess.com

Two roads diverged in a wood, and I—I took the one less traveled by, And that has made all the difference. - Robert Frost

Top Fintech Leaders Redefining the Finance & Banking Industry in 2024 e are in an era where technology has democratized financial services, giving W customers unprecedented access to information, tools, and advice. However, for many financial institutions, it's an uphill struggle to make their products competitive in this new age. As a result, to remain competitive, these institutions are turning to technology. And personalization is the holy grail that they need to stay on top of their competition. But to get there, they'll need a fresh approach to using technology and data to change their culture and workflows. first-time homebuyers on their journey to achieve FinLocker is one such organization that is helping financial homeownership. FinLocker is Day 1 Certainty approved by institutions to deliver financially personalized services. The Fannie Mae for direct source asset verification. company is changing the face of personalized financing solutions through an app that gives clear, concise, and We provide financial institutions with a custom, white- engaging financial fitness information in a mobile-friendly labeled instance of FinLocker with their own brand, so their format. consumers can stay within the platform for their entire homeownership journey. The consumer doesn't need to use In the following interview, Brian Vieaux, President and any of the other disparate apps on the market to build and COO, talks about the company's USP, the need for going monitor their credit, manage their finances, budget, and mobile in making sound financial decisions, traversing the save for their down payment, pay down debt, and begin pandemic, and how the organization is ushering into the their online property search. student loan area in the forthcoming years. FinLocker provides a unique USP for each business Please brief our audience about your company, its category. For example, the platform enables mortgage Unique Selling Proposition (USPs), and how it is lenders and originators to connect with homebuyers at the currently positioned as a leading player in the financial top of the sales funnel and provides a high-tech, high-touch services space. solution to manage a larger pipeline of homebuyers and recover homebuyers initially turned down for a mortgage. FinLocker offers the next generation in customer relationship-based performance marketing to empower The tools in the FinLocker platform prepare homebuyers mortgage originators, lenders, servicers, banks, credit for a mortgage and homeownership and enable the unions, credit counselors, and housing advocacy non-profits homebuyer to initiate a mortgage application directly from to provide personalized financial solutions and experiences the app with their lender once they have achieved mortgage for their customers through the FinLocker financial fitness readiness. This service contributes to an increased lead to app. loan pull-through rate for mortgage lenders and originators. FinLocker has partnered with Fannie Mae, Freddie Mac, Once homebuyers become homeowners, they continue to Microsoft, and consumer housing advocacy groups to help use their sponsoring mortgage lenders or mortgage 44 July, 2024 www.insightssuccess.com

servicer's white-labeled FinLocker to monitor their credit, their financial life. FinLocker is preparing to empower manage their finances, monitor their home equity, and net consumers also to link their payroll data. worth. FinLocker provides a valuable engagement platform that enables financial institutions to create customers for life Imagine a world where consumers are walking around with and cross-sell additional financial products via the app. an app on their phone that's digitally linked in real-time, not only to their financial transactional data but also their What other solutions does your company offer, and how income and employment data. We see a world where are these making an impact on the industry and your consumers, from a push of a button, can not only apply for clients? a loan; it could be an auto loan, a student loan, a credit card, or a mortgage loan, and be approved instantly based on this Improving the credit eligibility of our clients' consumers directly sourced data. can help them improve their eligibility to achieve multiple financial milestones. Financial institutions who use the Taking into consideration the current pandemic, what FinLocker platform to stay connected with their consumers initial challenges did you face and how did you drive can have the opportunity to serve and profit from 15 your company to sustain operations while ensuring financial transactions within a 10-year period from the safety of your employees at the same time? typical consumer: home purchase, home insurance (annual), home warranty, auto loan, auto warranty (annual), credit The Covid-19 pandemic impacted FinLocker in many ways cards, refinance, home equity line of credit (HELOC), debt and continues to do so. FinLocker is a digital native, as in a consolidation, and another home purchase. fully digital business. At the start of the pandemic, FinLocker refocused the company's priorities to provide Being an experienced leader, share with us your opinion safety for our team by implementing a remote working on what impact has the adoption of modern technologies environment, which also added agility to our hiring and such as AI, big data and machine learning had on the staffing process. Knowing that we could sustain operations finance niche and what more could be expected in the and product development in a remote working environment, future? over the past 12 months, we have cast a wider net to attract top talent to fill various positions in all company The advent of these features and functions with tools like departments. AI and the analysis of big data and machine learning has created a much more intuitive, streamlined mortgage As a fintech company serving the mortgage industry, digital process for consumers going through the financial services transformation is a business imperative. The pandemic process, regardless of the loan product. I come from a impacted product development on the FinLocker app and mortgage background, and I've watched large mortgage our go-to-market approaches. FinLocker adjusted its companies and mortgage tech providers focus on helping product roadmap on when and how we launch new features streamline the mortgage application process, which requires to calibrate with our client's priorities, especially in light of a lot of data gathering from their consumers. the extraordinary refinance and origination volumes experienced by our mortgage banker and originator clients. One specific area for FinLocker is how consumer permissioned direct source data has aided asset data What would be your advice to budding entrepreneurs collection and verification. By enabling consumers to link who aspire to venture into the financial services space? their bank accounts inside their FinLocker account, the transactional data from those bank accounts can be used to Budding entrepreneurs who aspire to venture into the make credit and lending decisions, as opposed to the financial services space have two opportunities. They can traditional way of providing a stack of bank statements to truly innovate by creating a new category for their new their lender. Fintech venture by developing the next generation financial services solution. They should start by identifying the Another example where we're continuing to see expansion various problems consumers have that relate to their is going beyond transactional asset data by enabling finances and how technology can help solve those consumers to link their own payroll data, similar to how a problems, or at a minimum, alleviate or lessen those consumer using a personal financial management app problems. would connect their bank accounts to see a holistic view of 46 July, 2024 www.insightssuccess.com

The other area where most new businesses tend to excel is taking a current solution for a problem and making that solution better or faster, or some combination thereof. That's one of the things that we've done at FinLocker. Initially, we didn't really create a new category per se. However, we understood the friction that consumers face in the traditional mortgage application process, and the FinLocker platform has moved forward from there. This concept of leveraging consumer permissioned data and letting consumers leverage their own data in a way that they haven't been able to before by using it to initiate financial transactions. How do you envision scaling your company's operations and offerings in 2022? FinLocker is a B2B2C platform, so scaling happens in two ways. The first way to scale is to add more customers by adding more businesses that will distribute the FinLocker platform to their consumers. We have a robust pipeline within the mortgage vertical, specifically large mortgage lenders who are in the implementation stage with our product and will begin distributing their white-labeled FinLockers to their customers and prospects over the next 90 days. That's going to significantly ramp up our user base in terms of consumers using the FinLocker platform. Secondly, we continue to look at the FinLocker app as a holistic consumer financial experience, so we're continually reviewing how to add tools and features into the app to solve consumer problems, which also adds value to a lender providing the app to their consumers. So, while we focus today on mortgages, we're looking at other areas to help solve problems. There's a massive population of consumers who are either credit invisible or credit light that need help either creating a credit profile or expanding their credit profile to improve their credit score. That's not just a mortgage use case. That broadly applies to consumers to benefit them for related financial services like buying auto and home insurance that are somewhat priced based on a consumer's credit score. We've got another focus in the student loan area to help consumers with student loan debts who may be eligible to reduce their payments through a digital experience that we can provide. 47 July, 2024 www.insightssuccess.com

Success consists of going from failure to failure without loss of enthusiasm. - Winston Churchill

Top Influential Fintech Leaders Redefining the Finance & Banking Industry in 2024

Top Influential Fintech Leaders Redefining the Finance & Banking Industry in 2024

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