My name is Krisjanis Znotins, and I am thrilled to share my insights over my first 4 months as the CEO of Wandoo Finance. Before venturing into the dynamic world of Fintech, my career was set in Corporate Banking at various well-esteemed institutions. However, my actual journey towards Wandoo Finance started at Eleving Group, another notable Latvian Fintech company, where I headed several successful financing and mobility businesses in Latvia. Now, at Wandoo Finance, I plan to bank on my wealth of experience to contribute to our mission of empowering underbanked communities across international markets as well as becoming a vertically integrated Fintech company.
Firm stance in Europe with further global expansion:
Wandoo Finance is headquartered in Latvia with current operations in Spain, Poland, and Romania. Even though we are proud of our accomplishments, our mission is to spread financial empowerment, addressing the unique needs of the underbanked across diverse regions – therefore, we intend to march on. Leveraging on our team’s experience and our internally developed systems, we look toward expanding to the Africa and Latin America regions, thereby entering enormous and promising markets. Our global expansion plans are rooted in our commitment to challenge the status quo of the financial industry. We believe that by using our innovative technologies and solutions we will be able to create new possibilities for communities across the globe.
Our products are simple to use and customised for the consumer. Whenever we look to improve our consumer experience or add new products, we start by gathering consumer feedback. Understanding our customers’ needs, Wandoo Finance has streamlined our customer experience to ensure minimal delay between ‘applying and money in the bank account’. Sometimes finance may not be sexy, but it should always be easy. In Spain and Poland, we offer consumer loans to service customers when it matters the most, while in Romania, our Credit Line product provides our clients with increased flexibility and accessibility.
Team above all:
Our team is our core and I mean it. Be it IT, risk scoring, marketing, customer experience, or product development: the team behind it is above all. At Wandoo we are lucky to have a wide variety of industry professionals with previous experiences from several well-established Fintech companies. Therefore, I’m confident that we have assembled the exact team to reach our goals with. To add, I would say the journey is as important as the destination. To reiterate two of Wandoo’s core values:
- We value our people as much as our results in a culture of mutual trust and respect,
- Embracing creativity and innovation. As the new CEO, my task is to be the glue between the capable professionals we have on our team and to steer our ship toward our North Star.
Our commitment to digital transformation is thorough. From the application process to decision-making, Wandoo Finance operates in a fully digital environment. Our recent launch of a mobile app for our Romanian product is just a glimpse into the future, as we plan to extend this convenience to Spain and Poland, ensuring our clients always have quick and easy access to our services.
The era of AI in customer assessment:
Abundance of credit may occasionally prove harmful for some customers. This is why at Wandoo we rely heavily on our in-house risk-scoring procedures, powered by Artificial Intelligence. On average, we collect more than 1 million data points for each customer, of which, even little as 50 to 100 points can make all the difference. The resulting 15% rate of approval on loan applications helps us balance between granting funds to those in need and keeping our risk levels under control. Our risk scoring is connected to an in-house CRM system with the aim of ensuring a seamless yet tailored experience for all of our customers.
All product innovations and new features can be quickly tested and put into action in no time. This ensures that our customers have access to the latest and most tailored financial solutions in the industry, continuously adapting to their evolving needs.
Funding is important:
Wandoo has continuously found success in attracting the funding needed for growth. We have used various sources, starting with equity, extending to the P2P platform Swaper, and also – individual investors. P2P lending is rapidly evolving, therefore, we expect Swaper's long-term investment products to provide us with long-term financing solutions in order to diversify our source of funds. As we grow, we may also look towards sourcing necessary funds with the help of Crowdfunding platforms. I can reveal that as it stands, our goal is to issue bonds on Nasdaq as early as 2025, which will help us achieve our goals and fulfil our mission at an increased pace.
Potential investors can reach out to us directly – we’re always open to discussion about individual investment opportunities. Join us on this exciting journey as we continue to redefine financial services, making a positive change in the lives of our customers and investors.
Visit https://wandoofinance.com to learn more.