The financial technology industry is undergoing a rapid transformation, with a plethora of new technologies emerging every day. With so many options available, it is challenging to determine what constitutes real progress and what is merely a trend. The speed of change in this field is dizzying, leaving many struggling to keep up. This landscape of constant innovation requires experts to have a sharp eye to recognize genuine advancements and a forward-thinking approach to harness their potential. It’s a challenging task, but one that is essential to remain competitive and relevant in an ever-evolving financial landscape.
Andrea Agostinone
One such expert, Andrea Agostinone, a former international tax lawyer hailing from Milan, is making waves in the financial industry with his company, Inbank. After spending 15 years in mergers and acquisitions, Agostinone sold his business and started a new life in the Baltics, where he founded Colonna, a successful real estate company. In 2013, he co-founded Inbank, which has disrupted the consumer credit market in the Baltics and is paving the way for the future of financial technology.
Inbank was the first private bank to receive a license from the Estonian Central Bank, and it quickly captured 30% of the local consumer credit market share. The company’s success is due to its use of groundbreaking technology, such as artificial intelligence, to gather information and its original use of embedded finance. Embedded finance allows partners of banks to act as financial frontlines, providing a more convenient experience for consumers. Instead of going to a bank for a loan, customers can finance a purchase directly through a dealer, backed by the bank, without any extra steps.
Inbank has expanded beyond Estonia and now operates in several countries, including Czechia and Poland, with plans to expand into Germany this year. The company is poised to become a unicorn, driven by its advanced products and technologies.
Agostinone believes that embedded finance and blockchain technology will shape the future of finance, not cryptocurrencies. He also emphasizes the importance of living a meaningful life beyond business pursuits. As a pilot, he enjoys flying private planes around the world, reminding modern entrepreneurs to balance work and life.
Inbank, under Agostinone’s leadership, is showing how financial technology can improve the customer experience and challenge traditional banking practices. Its innovative use of embedded finance and technology is poised to have a significant impact on the future of finance.
