In one of the recent articles, Express Computer mentioned that the Indian fintech space has the potential to contribute immensely to the economy. Experts from the fintech space opined that the pandemic has actually given them an opportunity to prove their worth even more.
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Going by the same lines, Cube Wealth, a fintech startup has introduced fun and rewarding games on its mobile applications to make transactions easier. Satyen Kothari, Founder & CEO, Cube Wealth shares his entrepreneurial journey.
How do you think the recent times have aggravated the need for tech-based products?
I think these trying times have shown investors the value of high-quality advice. It has also highlighted the inherent advantage of technology-based products like Cube Wealth. I can, however, look at data. If you look at the SENSEX we have already climbed up from around 25,000 pts back in March to 31,600 in the first week of May. And if you believe in the overall India story for the long term (10-20 years), buying stocks of high-quality companies as evaluated by the experts is still the way to go.
How has Cube Wealth simplified wealth creation for the professionals? Could you delve a little deeper?
Cube Wealth has simplified wealth creation for busy professionals. It gives regular investors access to top-notch advisors and Wealth Coaches. Earlier only the ultra-rich had access to such high-quality advisory. It is the combination of a simple no-drama app interface and the human touch we provide that sets Cube apart.
The app lets you do things you don’t want to do without anyone else’s intervention. So you can set up SIPs, track your portfolio & browse recommended funds on your own. Then there are things that you need help with – so our expert advisors can guide you with financial analysis, tell you what to buy, and even more importantly when to sell your mutual funds & stocks.
Could you enlighten us on the multiple layesr of security your startup is abiding by?
We use a lot of tech behind the scenes for usability, performance, security. For example our apps have simplified login like no one else. So the user can quickly see their portfolio value even during their daily commute without entering many passwords etc.
But yes, behind the scenes there are multiple layers of security using technology to ensure the wrong person cannot touch your portfolio.
Figuratively speaking, the traditional process of filling in KYC can be a little monotonous. Can technology come to aid?
To truly simplify wealth creation Cube looks has a two-pronged approach. There are things technology can do better. When you can share basic financial details & do boring things like KYC in a few clicks why would you waste an hour talking to a traditional bank advisor? On the flip side, why would you spend time studying the markets when a dedicated Wealth Coach and excellent market advisors can do it for you? There’s a sweet spot between the 100% human-centric old guard and the new wild west of investment apps – that’s where Cube Wealth sits. The best of human and tech.
What are your finances like? Could you share some numbers?
We raised $2 million in 2016. We have built the company from this money. Our investors come from all parts of the globe and they love our long term mission.
Where do you see Cube in a few years down the line?
The plan is to scale up Cube so that many more busy professionals can create wealth using our knowledge and platform.