A year that was…
I’d like to start by making a wish. I hope everyone reading this has had a year where you saw personal growth. Don’t be disappointed if it wasn’t monetary or in any material form. But consider the version of you today from what you were at the start of the year, growth.
Growth is the one word that defined our organisation this year. We grew in numbers, spirit, solutions and above all our happiness levels while being associated with Interpolitan Money. I recollect joining earlier this year and on my first day, I was unfortunately down with the bug. I was heartily pleased with how it was received in the organisation starting with our global executive just saying – “Sorry to hear this Anoop, please take your time” to total strangers reaching out to wish me well.
We didn’t have a physical office for the first few months. Not because we didn’t want to, but because there were partner-led delays in delivering the office (like all real estate associations). I distinctly remember countless phone calls, visits, and planning meetings while setting up the office. It felt personal. It felt like it was my money that was being deployed & I felt the obligation to make sure we got in return what we wanted from that investment.
When the office was finally ready in Jun’22, I was delighted beyond words. Again, it felt personal. It felt as if there was instant gratitude for all the hard work that went into making the office look the way it did. By this time, we had hired a few employees who were equally elated to be in the office and luckily they felt the same way about WFH (that it works, but when overdone it can spoil culture). I spent the day getting things in order and at the end of the day while the sun was setting, I sat in my cabin overlooking the Mahalakshmi Racecourse in awe of the Bombay City! This is a city of dreams; this is a city where people make their dreams come true. One such was my dream to lead a team of ninjas that will build a world-class cross-border platform.
We set out the year with broad-level planning about India that included drawing up a budget, cashflows, plans to hire, defining TAM & TG and everything future – we verbalised our dreams. There were so many little snippets of frames in that one vision in the dream. Every single snippet is a workstream today. While I write this, there’s a lot that’s to be done. A lot has remained unachieved. But it gives me great confidence to know that our quest continues with the same passion and vision.
India presents a large opportunity for Interpolitan Money. As a business that is focused on Global Transaction Banking, we genuinely believe that there’s a big void waiting to be filled to make cross-border banking seamless & frictionless.
Access to offshore banking is one of the tenets of transaction banking, globally. We are setting out to solve this through a solution under LRS (Liberalised Remittance Scheme) for Students & Individuals (we made a conscious choice to remain high-value low volume here to deliver shareholder value at the start as against at the end). Our banking tie-up in India allows us to collect up to $10,000 per transaction in a dedicated account in India from students & individuals. Please refer to my blog Decoding Liberalised Remittance Scheme. For us, this was a stepping stone into the country. One of the many things we want to solve.
Our next goalpost is to make policy advocacy supporting the trends of wealth diversification and how Individuals & Institutions are looking at diverse ways to deploy their wealth offshore. We believe this story will continue to play out for the next 3-5 years owing to the rising inflationary pressures, currency weakening and Indians demanding better conditions of living. More and more Indians are looking at buying immovable properties offshore & are actively looking at residencies, businesses & education. This globalisation of Indians is a key trend that we will ride on and will continue to support the gap in banking through our offshore banking solutions that we already provide to thousands of clients.
In the near term, Interpolitan Money will become a brand recognised as a global private bank that provides customised solutions to its clients starting with banking accounts and associated ecosystem of trade, company set-up, design management, deal-making, investments & loans. We aim to become a full-service firm that will continue to look at our high-value clients’ needs from a holistic point of view.
In the long term, our vision will continue to take us to more locations such as Singapore & Hong Kong to continue delivering excellence when it comes to global banking solutions.
I started my journey in a very tepid fashion with uncertainty looming over our economies and as I write this, we continue to face headwinds in the business, but that said India story continues to be strong and impactful. We remain committed to the country not just because it makes sense but because we love her, and we want to make a difference.
So as the year ends, I am filled with professional & personal gratitude and quite charged up to deliver on our vision in the country. I am blessed to be working with some smart brains in the business who continue to share the passion and vision of the organization and are equally geared up to build the organisation along with me.
What are your thoughts about 2022?
A truly global alternative banking solution
Interpolitan Money is an FCA licensed financial institution that is headquartered in London, we offer a comprehensive alternative banking solution, utilising cutting-edge technology to handle multi-currency accounts from beginning to end, allowing our clients to pay, collect and hold funds in 55+ currencies from 160+ countries.
Accelerate your international growth with named local accounts, and virtual IBANS and access our FX risk management solutions.
Client funds are held in designated, safeguarded bank accounts, with our tier 1 banking partners.
We aim to open client accounts within 7- 10 working days.
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