Global Fintech Interview with Siddhartha Jha, Founder and CEO at Arbol

Hi Siddhartha, please tell us about your fintech journey so far.

It all started with my passion for mathematics and statistics, which led me to pursue a career in the financial industry. Throughout my various roles in the industry, I gained valuable insights into understanding markets, risk management, and managing risk across commodities and volatile markets.

However, it was my realization of the impact of climate risk on the financial industry that led me to found Arbol. I wanted to change the way stakeholders, from the world’s smallest farmers to the largest corporations, proactively assess and manage climate risk. That’s how Arbol was born.

Arbol aims to revolutionize the way that climate risk is managed by providing accessible and affordable parametric insurance to those who need it most. Our platform provides a reliable way for individuals and companies to mitigate their climate risks, ultimately helping to create a more sustainable future.

I’m proud of what Arbol has accomplished so far, and I’m excited to see what the future holds for our company and the broader fintech industry.

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How according to you should companies embrace fintech to transform their business more significantly?

I believe that companies should embrace fintech to transform their business more significantly by leveraging the power of emerging technologies like AI, blockchain, and big data. These technologies have the potential to bring much-needed efficiency, transparency, and scale to legacy processes and operations.

By embracing fintech, companies can transform their businesses by streamlining their operations, reducing costs, and improving customer experiences. It is important for companies to stay agile and embrace innovation in order to stay ahead of the curve in today’s rapidly evolving business landscape.

Could you please explain how are you spanning technologies like blockchain, AI and data science for your company?

At Arbol, we are committed to using the latest technology to provide our clients with innovative and effective solutions for managing climate risk. We have integrated blockchain, AI, and data science into our platform to create a scalable and efficient system for our parametric insurance offerings.

Blockchain technology is used to introduce operational efficiencies to claims processing, allowing for transparent and streamlined transactions. This technology also ensures that our data infrastructure is secure and tamper-proof, which is critical in today’s world.

AI is used to automate our entire underwriting operation, providing us with real-time insights into weather patterns and other climate risk factors. This allows us to accurately and efficiently assess risk and develop customized insurance products that meet our clients’ specific needs.

Finally, we use data science to analyze vast amounts of data and derive insights that help us to refine our offerings and improve our clients’ experiences.

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Given your expertise and experience in the tech industry so far, we’d love to hear about some of your biggest learnings and hurdles.

I have had the privilege of navigating a rapidly evolving landscape where technological innovation is constantly changing the rules of the game. Through this journey, I have learned a great deal about what it takes to succeed and the challenges that must be overcome.

One of my biggest learnings has been the importance of staying agile and adaptable in the face of uncertainty. The world of fintech is marked by constant disruption, with new technologies emerging and evolving at a breakneck pace. In order to stay ahead of the curve, it is essential to maintain a culture of experimentation and innovation, where failure is not only accepted but encouraged as a means of learning and improving.

Another key lesson I have learned is the critical role that partnerships and collaboration play in achieving success. In a world where no single company can possess all the expertise and resources needed to succeed, forging strategic alliances with other players in the ecosystem is essential. Whether it is partnering with fintech startups to leverage their cutting-edge technology or collaborating with established insurers to tap into their deep industry knowledge and customer relationships, partnerships are key to unlocking new opportunities and creating value for all stakeholders.

Another major hurdle has been attracting and retaining top talent in a highly competitive and rapidly evolving industry. With the demand for skilled professionals in fintech-insurance far outstripping supply, it is essential to create a workplace culture that fosters innovation, rewards creativity, and empowers employees to take risks and pursue their passions.

How will the fintech segment shape up in the next couple of years, given the constant innovations and investments in certain areas? What do you think this landscape will look like in future?

The fintech industry has experienced tremendous growth and innovation in recent years, and I believe this trend will continue in the years to come. We are witnessing significant investments in areas such as blockchain, artificial intelligence, and machine learning, which will further revolutionize the way we conduct financial transactions and manage our personal finances.

One of the most significant areas of growth in the fintech industry is the rise of digital payments and the move towards a cashless economy. With the increasing popularity of mobile payments and digital wallets, we are likely to see a continued shift away from traditional payment methods such as cash and checks. This trend will be further driven by the ongoing development of blockchain technology and the emergence of decentralized finance (DeFi) platforms, which are poised to disrupt the traditional banking system.

Another area of growth in the fintech industry is the increasing use of artificial intelligence and machine learning to automate and streamline financial processes. From chatbots and virtual assistants to fraud detection and risk analysis, AI is already transforming the way we interact with financial services, and I believe we will see even more innovative applications of this technology in the future.

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Your favorite line from your published book “Interest Rate Markets.”

I am not sure if I have a favourite line, but it was certainly a pleasure writing the book and I have been overwhelmed by the reception it has received over the years.

Thank you, Siddhartha ! That was fun and we hope to see you back on globalfintechseries.com soon.

[To share your insights with us, please write to sghosh@martechseries.com]