Startups re-inventing bankingKristo Käärmann
Computing in 2020?
ICDEE Kyiv 2013 - @kaarmann
News in 2020?
ICDEE Kyiv 2013 - @kaarmann
Money in 2020?
ICDEE Kyiv 2013 - @kaarmann
Money in 2020?
ICDEE Kyiv 2013 - @kaarmann
Banking is already a tech business It is complicated but not hardOpportunity is enormous $$$People know not to like banks
Why banking?
ICDEE Kyiv 2013 - @kaarmann
$30 + 3%
$100bn+ yearly = 70% of ukraine GDP
takes 5 days !?
How to transfer money unwisely?
ICDEE Kyiv 2013 - @kaarmann
Idea: crowdsource currency launched in January 2011 saved $15 million in bank fees raised $7.3 million – Peter Thiel, Index, IA team of 45: London, Estonia, Ukraine
Objective: make a $100bn business into a $10bn business
How did we tackle the problem
ICDEE Kyiv 2013 - @kaarmann
30x
Earning trust online is possible ...
Lessons learned: trust
ICDEE Kyiv 2013 - @kaarmann
… but it is sooo hard! earn 11 out of 10 with every interaction social proof: customers, investors look and sound professional
Lessons learned: trust
ICDEE Kyiv 2013 - @kaarmann
Biggest asset for a startup Recommendation from a friend 10x better
chances to success than advertising
As a founder or exec you have to speak with them routinely
Lessons learned: customers
ICDEE Kyiv 2013 - @kaarmann
Your only edge and best defenceThe only focus is speed of growthFight the forces that slow you
down
Lessons learned: speed
ICDEE Kyiv 2013 - @kaarmann
People hate their current product?Your solution is 10x better?Plan how to get customersFocus on trust and experienceBe faster than the incumbents
Innovating finance – a checklist
ICDEE Kyiv 2013 - @kaarmann
Anything is possible.
ICDEE Kyiv 2013 - @kaarmann
We imagine a world where you can send money across the world instantly for a low cost.