Fintech

Arun Dobriyal’s Journey to FinTech Excellence

Published

9 months ago

24 July, 2024

From India to Silicon Valley: Arun Dobriyal's Path to Fintech Excellence

Author: Shannon Sparks
Image: Arun Dobriyal

In India, Arun Dobriyal grew up in a lower-middle-class family, where daily compromises were a reality due to limited resources. Despite these challenges, his parents instilled in him unshakable values of honesty and hard work, guiding him towards a future full of promise and potential.

The foundation of Arun’s career was laid by his early love for computer science and his belief that technology can level the playing field in terms of opportunities for all. His breakthrough came when he was accepted into India’s top government college after cracking the national entrance exam, IIT JEE. This government-funded opportunity was instrumental in helping his family afford him a good education.

Throughout his career, Arun has held senior positions in the fintech and payments industries. His background includes key roles leading game-changing projects at Meta and Snapchat. One of Dobriyal’s biggest career successes was at Meta, where he built an in-house direct debit capability when a bank payment provider threatened to shut down the platform. His strategy ensured that over 100,000 global advertisers continued to access Facebook’s advertising platform, preserving an astonishing $100 million+ in repeat advertising revenue. His strategies enabled Meta to expand its reach into European and Latin American markets, empowering local businesses through targeted ads and effectively connecting them to consumers.

At Snapchat, Arun founded the payments and commerce teams. The payments team, which he led, has built technologies that have handled billions of dollars, providing critical support to large advertisers. He also led the creation of a commerce team that further revolutionized the app by introducing a native checkout product used by thousands of Snapchat brands and influencers, seamlessly integrating social interaction with frictionless shopping. This innovation significantly improved both the user experience and revenue potential. His performance optimization efforts saved the company millions of dollars in data and computing waste and improved the mobile user experience, especially for low-end devices.

As Head of Engineering at VartanaArun is now working to upgrade the archaic B2B lending industry. Vartana’s cutting-edge platform seeks to improve the efficiency, speed, and transparency of financing transactions, which have so far been dominated by large, slow-moving banks. Vartana offers small and medium-sized businesses (SMBs) faster access to financing, enabling them to better manage working capital. This invention has largely enabled Vartana to successfully complete a Series B investment round.

Moving from India to the United States was challenging. Arun initially felt out of place in his new environment and faced linguistic and cultural challenges. However, his persistence and dedication to learning the nuances of the language and local culture allowed him to adapt and thrive. Arun said, “This experience deepened my appreciation for America’s innovative and open-minded culture, which celebrates hard work and merit.” Arun’s journey is a testament to the power of perseverance and the endless opportunities that await those who embrace change and diversity.

Over time, Arun has honed his leadership style to help those around him succeed. Arun’s character shines through in his willingness to mentor and develop a variety of professionals, including engineers, product managers, and designers, throughout his career.

He says, “It is essential for leaders to build strong trust within their teams, solve problems collaboratively, and focus on the success of team members. This is what is at stake.”

Those who have been mentored by Arun attest to his high standards and the sense of purpose and passion for innovation he instills in them. His practical approach and unwavering commitment to problem solving have earned him a reputation as a true leader and trusted advisor.

Constantly driven by a thirst for knowledge, Arun seeks to expand his expertise in software engineering, consumer technology, finance and leadership. His ultimate vision is to lead companies that provide impactful solutions, especially for the benefit of SMBs, fostering innovation and driving overall economic prosperity. In his envisioned future, technology acts as the great equalizer, facilitating financial inclusion and opening doors to greater opportunities for all.

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We are the editorial team of FinCrypto, where seriousness meets clarity in cryptocurrency analysis. With a robust team of finance and blockchain technology experts, we are dedicated to meticulously exploring complex crypto markets with detailed assessments and an unbiased approach. Our mission is to democratize access to knowledge of emerging financial technologies, ensuring they are understandable and accessible to all. In every article on FinCrypto, we strive to provide content that not only educates, but also empowers our readers, facilitating their integration into the financial digital age.

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Fintech

Lloyds and Nationwide invest in Scottish fintech AI Aveni

Published

9 months ago

29 July, 2024

FinCrypto Staff

Lloyds and Nationwide invest in Scottish AI fintech Aveni

Lloyds Banking Group and Nationwide have joined an £11m Series A funding round in Scottish artificial intelligence fintech Aveni.

The investment is led by Puma Private Equity with additional participation from Par Equity.

Aveni creates AI products specifically designed to streamline workflows in the financial services industry by analyzing documents and meetings across a range of operational functions, with a focus on financial advisory services and consumer compliance.

The cash injection will help fund the development of a new product, FinLLM, a large-scale language model created specifically for the financial sector in partnership with Lloyds and Nationwide.

Joseph Twigg, CEO of Aveni, explains: “The financial services industry doesn’t need AI models that can quote Shakespeare, it needs AI models that offer transparency, trust and, most importantly, fairness. The way to achieve this is to develop small, highly tuned language models, trained on financial services data, vetted by financial services experts for specific financial services use cases.

“FinLLM’s goal is to set a new standard for the controlled, responsible and ethical adoption of generative AI, outperforming all other generic models in our selected financial services use cases.”

Robin Scher, head of fintech investment at Lloyds Banking Group, says the development programme offers a “massive opportunity” for the financial services industry by streamlining operations and improving customer experience.

“We look forward to supporting Aveni’s growth as we invest in their vision of developing FinLLM together with partners. Our collaboration aims to establish Aveni as a forerunner in AI adoption in the industry, while maintaining a focus on responsible use and customer centricity,” he said.

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Fintech

Fairexpay: Risk consultancy White Matter Advisory acquires 90% stake in fintech Fairexpay

Published

9 months ago

29 July, 2024

FinCrypto Staff

Treasury Risk Consulting Firm White Matter Alert On Monday he announced the acquisition of a 90% stake in the fintech startup Fair payment for an undisclosed amount. The acquisition will help White Matter Advisory expand its portfolio in the area of cross-border remittance and fundraising services, a statement said. White Matter Advisory, which operates under the name SaveDesk (White Matter Advisory India Pvt Ltd), is engaged in the treasury risk advisory business. It oversees funds under management (FUM) totaling $8 billion, offering advisory services to a wide range of clients.

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White Matter Advisory, based in Bangalore, helps companies navigate the complexities of treasury and risk management.

Fairexpay, authorised by the Reserve Bank of India (RBI) under Cohort 2 of the Liberalised Remittance Scheme (LRS) Regulatory Sandbox, boasts features such as best-in-class exchange rates, 24-hour processing times and full security compliance.

“With this acquisition, White Matter Advisory will leverage Fairexpay’s advanced technology platform and regulatory approvals to enhance its services to its clients,” the release reads.

The integration of Fairexpay’s capabilities should provide White Matter Advisory with a competitive advantage in the cross-border remittance and fundraising market, he added.

The release also states that by integrating Fairexpay’s advanced technology, White Matter Advisory aims to offer seamless and convenient cross-border payment solutions, providing customers with secure options for international money transfers.

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Fintech

Rakuten Delays FinTech Business Reorganization to 2025

Published

9 months ago

29 July, 2024

FinCrypto Staff

Rakuten (Japan:4755) has released an update.

Rakuten Group, Inc. and Rakuten Bank, Ltd. announced a delay in the reorganization of Rakuten’s FinTech Business, moving the target date from October 2024 to January 2025. The delay is to allow for a more comprehensive review, taking into account regulatory, shareholder interests and the group’s optimal structure for growth. There are no anticipated changes to Rakuten Bank’s reorganization objectives, structure or listing status outside of the revised timeline.

For more insights on JP:4755 stock, check out TipRanks Stock Analysis Page.

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Fintech

White Matter Advisory Acquires 90% Stake in Fintech Startup Fairexpay

Published

9 months ago

29 July, 2024

FinCrypto Staff

White Matter Advisory Acquires 90% Stake in Fintech Startup Fairexpay

You are reading Entrepreneur India, an international franchise of Entrepreneur Media.

White Matter Advisory, which operates under the name SaveDesk in India, has announced that it is acquiring a 90% stake in fintech startup Fairexpay for an undisclosed amount.

This strategic move aims to strengthen White Matter Advisory’s portfolio in cross-border remittance and fundraising services.

By integrating Fairexpay’s advanced technology, White Matter Advisory aims to offer seamless and convenient cross-border payment solutions, providing customers with secure options for international money transfers.

White Matter Advisory, known for its treasury risk advisory services, manages funds under management (FUM) totaling USD 8 billion.

Founded by Bhaskar Saravana, Saurabh Jain, Kranthi Reddy and Piuesh Daga, White Matter Advisory helps companies effectively manage the complexities of treasury and risk management.

The SaveDesk platform offering includes a SaaS-based FX market data platform with real-time feeds for over 100 currencies, bank cost optimization services, customized treasury risk management solutions, and compliance guidance for the Foreign Exchange Management Act (FEMA) and other trade regulations.

Fairexpay is a global aggregation platform offering competitive currency exchange rates from numerous exchange partners worldwide. Catering to both private and corporate customers, Fairexpay provides seamless money transfer solutions for education, travel and immigration, as well as simplifying cross-border payments via API and white-label solutions for businesses. Key features include competitive currency exchange rates, 24-hour processing times, extensive currency coverage of over 30 currencies in more than 200 countries, and secure, RBI-compliant transactions.

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