Why do you feel that your company has been nominated by the panel?
Volopa offers a diverse range of financial services products which are fully integrated and accessible through its proprietary FX platform. By combining these features with a flexible multicurrency pre-paid Mastercard capable of being branded in its client’s livery, Volopa directly meets its customer’s needs and key objectives and delivers core values of transparency, security, and simplicity.
Why was the company set up? How did you select the vertical and decide to be part of the FinTech community?
Volopa was established to offer corporate and retail customers total transparency in FX service, something that to this point had not previously been offered in the FX market as a whole. Accessed through Volopa’s highly developed, easy to use bank to bank platform with integrated multi-currency, pre-paid Mastercard’s (capable of holding up to 14 currencies on a single card), Volopa has gone on to develop a number of value added services that complemented and expanded its core offering.
Through listening to and working with its customers Volopa has delivered a product range which directly meets their needs, including Volopa Lifestyle and global expense management capabilities, achieving significant discounts on hotels and restaurants while reducing administrative time and delivering cost savings in international travel expenses.
Through use of innovative, relevant, scalable, financial technology, Volopa maintains a low overhead passing cost savings on to customers while continued development of products and services maintain its edge in customer service and value delivery.
What is your company looking to achieve in 2018?
Volopa’s focus is to consolidate on its domestic and European customer base delivering card volumes from its existing and rapidly growing sales pipeline and plan to launch three newly developed products in the New Year with Volopa Media, Volopa Bullion, and VoloPay, to enhance its core offering.
Looking beyond its current UK and European offering, Volopa plans to expand its worldwide service to include special focus on empowering 2.1 billion un-banked customers in Asia, Africa, and Latin America with online e-commerce banking solutions.
What challenges did you face in your initial years? What can your peers learn from it?
Software development took longer, and cost considerably more than we anticipated. As our products were developed the level of complexity increased exponentially which required additional management and cash resources to ensure seamless service delivery and scalability.
If you have to list five factors that have been/are the biggest asset to your organisation, what would they be and why?
Volopa’s people are its strongest asset. Its management team is drawn from the highest levels of the industry with relevant experience and track records of success. Volopa has attracted top managers from leading financial organisations and UK Special Forces and intelligence preparing for the obvious convergence of FinTech products and high level cyber and physical security.
The Volopa Group of companies are independently Authorised and Regulated by the FCA and HMRC underlining our core principals of transparency, integrity, and accountability. A team approach of solution provision, drawn from client consultation which balances technical capabilities with practical solutions fit for purpose. Volopa maintains close cooperation and communication between its teams across IT development, operations, sales and marketing, compliance and customer service.
Speed of reaction to client requests driven by the fact that Volopa owns its technology and can quickly deliver specific features and functionality that directly meets its client’s requirements.
Volopa’s reputation for good governance and focused solution provision enables it to deliver the highest load limits in the industry, issue cards across 41 EEA countries and white-label its cards to promote its customers brands as a card for employees, to cement customer or fan loyalty and reduce costs while increasing efficiency in all areas of its offering.
What makes your company stand out in the FinTech market?
Honesty and transparency in a market traditionally operated with hidden charges designed for profit which disadvantages its users. Volopa is unique in offering its clients real-time market information, highlighting its charges and giving clients the option to transact or not, putting the customer back in control of the facts and the costs.
Volopa’s technology delivers a diverse and relevant product range, 14 independent currencies on one card with the ability to settle in 120 currencies worldwide, complete ease of use, 24hr 365 days worldwide reach, flexible and powerful systems with a strong customer focus.
With so much competition in the FinTech space and so many companies failing to get traction, what has allowed your company to thrive?
Focus on the B2B offering with close consultation with clients to ensure its offering directly meets the needs of each customer. The ability to brand its cards with a client’s own brand increases the value to its customers who can see how the benefits that Volopa delivers will enhance their own offering to staff and clients alike. Volopa has a powerful brand but is equally happy sitting behind and delivering significant value to its customer own brands.
How do you bring the best out of your team?
Our team thrives on the challenges involved in producing unique, world-class products in a friendly, cooperative environment, with the knowledge they are helping millions reach 1st world financial solutions.
A management approach that encourages employee engagement and openness, combining and utilising best management practices whilst taking advantage of the speed of implementation, innovation and communication skills that exists in a small but highly capable and cohesive FinTech team. Volopa encourages continuous improvement, empowers employees and enables autonomy, confident that the team will do their personal and collective best at all times.
With so many buzzwords in FinTech around disruption and innovation, how have you really stepped up to solve an industry problem?
Keep it clear and simple to use. Advanced FinTech is basic FinTech done exceptionally well, also provide total transparency of charges where nothing is hidden.
What do you see as the major trends for the year ahead?
A convergence of cybersecurity technology and enhanced security as a USP in the FinTech space. Volopa is focused on delivering the most secure multicurrency card on the planet and has prepared well for this challenge.