e27 has been dedicated to nurturing a supportive ecosystem for entrepreneurs since its inception. Our Contributor Programme offers a platform for sharing unique insights.
As part of our ‘Contributor Spotlight’, we shine a spotlight on an outstanding contributor and dive into the vastness of their knowledge and expertise.
In this episode, we explore the journey of Reinis Simanovskis, Co-Founder and CTO of Finfra, as he works to establish embedded lending in Indonesia. Finfra provides the necessary infrastructure and seamless integration for technology companies in Southeast Asia to embed financial services from application to decision to operations.
Thoughts, goals, and journey
Before transitioning into fintech, Simanovskis worked as a management consultant, primarily collaborating with Telco and some banking clients across Europe and Africa. Upon visiting a friend from university, he decided to relocate and join him in founding Danabijak initially, and now they have co-founded Finfra together as well.
Simanovskis specialises in embedded lending, setting up full-scope loan management systems from scratch.
“In embedded lending, there’s a trend that this is the best avenue how to distribute Impact funds as you can target distribution channels that fit your impact criteria. In loan management systems, there’s been a significant shift over the last five years. There has been a huge switch from in-house-built systems to outsourced SaaS services, and the outsourced systems are getting better and cheaper each year. At first glance, it looks easier to set up lending systems. Also, the KYC, fraud and risk challenges are increasing — meaning your system needs are increasing as well,” Simanovskis noted.
The driving force
Simanovskis became part of the e27 contributor community in March last year. His articles, which delve into topics like embedded lending, lending as a service, AI, and more, have amassed over 3000 content views.
Also Read: Top 10 contributing startup founders shaping the tech industry
“I’m mostly a rather quiet guy and not necessarily jumping in the spotlight. I saw this as an opportunity to create some content based on the experience I’ve gathered in the industry and hopefully provide useful guidance to others,” he said candidly.
Advice for budding thought leaders
Simanovskis emphasises the importance of consistency when offering advice to aspiring thought leaders. “Consistency in communication and in your message is key,” he reflects. “Building your personal brand is achievable with a simple yet consistent message.”
Juggling too many things?
When discussing how he maintains work-life balance, Simanovskis highlights the importance of eliminating time-draining habits that don’t contribute to personal or professional goals. “Last year, I switched off all my social media except LinkedIn,” he shared. “This not only saved time but also freed up mental bandwidth. Whether your goals are in your career, family, or elsewhere, it’s crucial to conduct an internal audit to ensure your time and mental energy align with them.”
Staying in the loop
To stay updated and informed about the latest happenings and changes in his field, Simanovskis said, “Keeping a wide network both here in Indonesia and back in Europe with relevant peers. Luckily, in Latvia (where I’m from), there’s a huge number of global fintech lending founders and professionals, which makes it a lot easier for me to keep up with global trends!”
He recommends the Fintech Insider Podcast by 11:FS, hosted by one of the leading fintech consultancies globally. The podcast features great guests and covers excellent topics, keeping listeners up to date with global trends.
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The post Reinis Simanovskis: Building embedded lending infrastructure for SEA appeared first on e27.