Bhairav Trivedi on CAB’s future roadmap featured in e-Forex Magazine
Published // 20th April 2021
Crown Agents Bank plans new services
Our CEO Bhairav Trivedi talks to e-Forex on Crown Agents Bank’s planned new services and future roadmap.
What attracted you to Crown Agents Bank?
I am driven by the ability to really make a difference through my work – not just at an organisational level, but at an individual level. Crown Agents Bank is at an inflection point in its development, driving forward with its digital transformation. My experience in developing my own financial services company and transforming businesses in the financial services sector, means I can make an impact through leading the company to success in building out its new technologies. In parallel, but linked to this, my personal values around making a difference align with Crown Agents Bank’s overall mission – it’s all about the impact we can make to our customers and end users by moving money to where it is most needed in a socially responsible manner.
What are the bank’s goals over the next year and how do you see the bank developing, longer term, over the next 2-3 years?
The bank has been through lot of growth in terms of the products and services we offer, with a strong product roadmap and pipeline of joint ventures with partners for 2021. As part of our digital transformation, we are developing new Crown Agents Bank services for our customers, due to launch soon, and we’re also strategically partnering with local, cutting-edge technology providers in the regions in which we operate. Beyond 2021 we will continue driving forward with our strategy of being a transformational technology company, while retaining the stability and reliability we are privileged to experience as a UK-regulated bank. These two factors: innovation and reliability in the fintech world are pretty rare and being in possession of both means Crown Agents Bank has extremely strong sustainable growth potential for the next 2-3 years – and beyond.
How will you help CAB realise its goals?
I have worked in the financial services sector for more than 25 years, across all aspects of business: strategy, sales, marketing, business development and operations. Because of the variety of my experience, I have a holistic view of what a business needs to do to scale effectively and rapidly in a fully regulatory compliant manner, and I also understand the needs and focus areas of different departments in the bank. I will be working with each team to understand how we can support them in driving towards our growth goals and making sure we have the systems and resources in place to set them up for success, so we can realise our goals as a collective group.
What products or services excite you in cross border payments and FX?
There are some really exciting innovations happening in the last mile delivery space for the unbanked in emerging and frontier markets. Verifying last mile delivery to individuals without a bank account has always been a tricky area in terms of visibility, as the trail stops after the payment has been made into the final bank account – which may not be into the hands of those who need it. With new technologies, we can create digital identities for individuals without bank accounts based on biometric data, such as fingerprints, retina scans, etc. This means we can verify them as the intended recipient, release funds and track them all the way to receipt – for example into a mobile wallet. Going back to my earlier point about impact, this sort of development is crucial in terms of the difference it can make. For example, with millions needing vaccinations globally, secure last-mile delivery services to unbanked health workers means that we can ensure reimbursement is received by those doing such important work, without the risk of fraud. By putting these safeguards in place, workers are properly incentivised to continue distributing vaccines, tackling the spread of coronavirus in these regions and gradually eliminating the global pandemic.
Find the full article here: https://e-forex.net/news/mar-2021-crown-agents-bank-plans-new-services-20.html