Interview: Konstantin Vaysman, chairman of Mobile Finance Group – financial inclusion
Summary
KV: The traditional bricks-and-mortar banking model is a costly solution to giving people access to financial services, especially in rural areas. Mobile money supports digital identification (enabling consumers to open an account without having to visit a branch) and breaks the monopoly of banks on the provision of financial services. The next factor is regulation – ensuring that the market framework is ready for remote identification/digital onboarding and checking whether a financial services licence is required. KV: Before founding Mobile Finance Group, which works under Wallet Factory brand, I held various board and top executive positions in banks and financial institutions over more than 25 years. I increasingly realised that fintechs were the future of financial services and have used my management experience, industry knowledge and IT background to create an international MFS company.