The pace of change in the financial world is accelerating while many so-called futurists are content to make predictions without putting their ideas into practice. However, among this sea of speculative prognosticators, one entrepreneur is making a tangible impact in the financial world. Andrea Agostinone, the co-founder of Inbank, is a financial futurist who is leading the charge for embedded finance and the integration of technology and finance.
Embedded finance refers to the practice of integrating financial services into the experience of purchasing products and services from businesses that typically do not offer financial services. The convergence of technology and finance has enabled the development of this new paradigm in which traditional financial institutions are no longer the sole providers of financial services. With the rise of digital solutions, embedded finance provides users with a streamlined and simple experience, giving them access to financial services without leaving the platform they are using. The rise of embedded finance is altering the financial market and opening up new avenues for businesses to enhance their offerings and better serve their customers.
Born in Italy, Agostinone started his journey as an international tax lawyer, working in mergers and acquisitions across several countries. However, by 2007, he sold his business and started a new journey in the Baltics. While in the Baltics, Agostinone co-founded Colonna, a real estate company that became one of the largest real estate operators in the region. Building on the success of Colonna, Agostinone co-founded Inbank in 2013, a revolutionary consumer finance business that uses technology like artificial intelligence to gather information.
Inbank was granted a license by the Estonian Central Bank, the first time in history that a bank owned only by private individuals received such accreditation. Inbank quickly captured 30% of the local consumer credit market share due to various reasons, including technological literacy and foresight. Agostinone and Inbank have grown their services and helped democratize access to capital through the use of embedded finance, which enables partners of banks to become financial frontlines. This is a far superior model to traditional banking, where customers go to a bank to get a loan and face delays, annoyance, and compliance issues. With embedded finance, the customer can finance their purchase directly with the dealer, who is backed by a bank.
Inbank has expanded beyond the Baltics and now operates in several countries, including Czechia and Poland, and will soon expand into Italy. Inbank is on its way to becoming a unicorn based in Estonia, and it is leveraging its innovative products and technologies to achieve higher valuations. Agostinone believes that embedded finance, along with blockchain technology, represents the true future of the financial world.
Agostinone is not just a visionary entrepreneur but also a well-rounded individual who values the importance of life beyond business. He is a passionate pilot who flies private planes around the world and reminds all of us caught up in the hustle to strike a balance between work and life.
To follow Agostinone, you can find him here on Instagram.