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Nirav Patel, CEO of Andaria

Today I’m bringing you an interview with Nirav P., CEO of Andaria, a 60-person FinTech embedded banking provider, licensed in both EU and UK, with a particular focus on the sports and mobility sectors.

Who are you and what’s your background?

I am Nirav Patel, CEO of Andaria. I graduated from Queen Mary University of London with a degree in Economics, which laid the groundwork for my journey into the fintech space.

Prior to Andaria, I gained experience in investment banking, which sparked my interest in financial innovation and technology.

What is your job title and what are your general responsibilities?

As the CEO of Andaria, I oversee the overall direction and strategy of the company. My responsibilities include leading our talented team, driving innovation in our products and services, and cultivating relationships with key stakeholders.

Can you give us an overview of your business?

Andaria is a leading fintech company licensed in the EU and UK, specialising in providing Embedded Finance solutions.

Our platform empowers businesses to seamlessly integrate financial services into their offerings, enhancing customer experience and driving growth. We pride ourselves on our cutting-edge technology, customisable solutions, and commitment to regulatory compliance.

Tell us how you are funded?

Andaria’s journey has been fueled by a combination of revenue and backing by our sole founder. This approach has enabled us to maintain agility while fuelling our growth and expansion initiatives.

What’s the origin story? Why did you start the company? To solve what problems?

The genesis of Andaria stems from a desire to address the evolving needs of businesses in the digital age and make financial services accessible for all.

Back in 2021, we recognised a gap in the market for flexible and scalable Embedded Finance solutions that empower businesses to innovate and thrive.

Our platform is designed to streamline financial processes, reduce friction, and unlock new revenue streams for our clients.

Who are your target customers? What’s your revenue model?

Our target customers span a diverse range of industries, including ecommerce, sports, mobility, and digital marketplaces. Our commercial model is based on revenue from the platform, transactions and performance pricing plans tailored to the unique needs of our clients.

If you had a magic wand, what one thing would you change in the banking and/or FinTech sector?

If I had a magic wand, I would streamline regulatory processes to foster greater innovation and collaboration within the banking and fintech sector. Removing bureaucratic barriers would enable companies like Andaria to unleash their full potential and drive positive change in the industry.

What is your message for the larger players in the Financial Services marketplace?

To the larger players in the Financial Services marketplace, I would emphasise the importance of embracing innovation and agility in the rapidly evolving landscape. Collaboration with fintech companies like Andaria presents an opportunity to deliver new possibilities whilst gaining a competitive advantage.

Where do you get your Financial Services/FinTech industry news from?

I stay informed about the Financial Services and fintech industry through numerous publications and by following industry experts on social media.

Can you list 3 people you rate from the FinTech and/or Financial Services sector that we should be following on LinkedIn, and why?

  • Marcel van Oost has played a major role in changing the landscape for media influence in fintech. He has grown an impressive network of tens of thousands of connections who look to him for the biggest and most important news stories across the global fintech space.
  • Another one is fintech consultant and entrepreneur Lars Markull, who is responsible for running the Embedded Finance Review; a newsletter that provides content in the form of articles and news summaries with a pure focus on Embedded Finance. The community he’s built on his own accord is extremely impressive and I really appreciate the content he consistently puts out.

Finally, let’s talk predictions. What trends do you think are going to define the next few years in the FinTech sector?

In the coming years, I believe we’ll see several trends shaping the fintech sector, including the rise of decentralised finance (DeFi), increased focus on cybersecurity and data privacy, and the continued integration of artificial intelligence and machine learning into financial services.

These trends will drive innovation, reshape business models, and redefine the way we interact with money and financial systems.

Thank you for taking the time Nirav P

You can find out more about Andaria at http://www.andaria.com.

Ewan is Founder and Editor of FinTech Profile and Mobile Industry Review. He writes about a wide variety of mobile and FinTech industry issues and is usually active on Twitter most days. You can read more about him or reach him with these details.

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