What does the customer gain and what are the risks of using the Flipful service?

Flipful is an easy way to make every day a payday. It allows you to choose when to receive your earned salary, reducing stress and making you stop asking yourself – when will it be already?

The questions asked by customers (companies) are nothing new, especially if they are about to start something unprecedented. Potential customer frequently asked questions: does this mean that additional information about employees will be needed? What is the difference with an advance payment? Will the employee be able to withdraw more than he earned? How could this work in the current solutions?

As with any business, the Flipful user might meet both benefits and risks. The end user (employee) gets the opportunity to be protected from unforeseen expenses at any place and time. It could be an analogy of using an umbrella that can be activated when needed. This option reduces stress, as the user will no longer have to worry so much about their financial situation. Financial well-being is also improving – research shows that, if a person can handle money more flexibly and receive it more often, then he or she can build up savings more effectively.

A risk that is important to mention (which happens in some cases) is insufficient financial prudence, which can lead to the situation, when all available limits are spent and there is not enough for mandatory bills. To avoid this and other risk situations, Flipful has incorporated financial literacy training in the employees’ mobile app, as well as company-defined amount and withdrawal limits, so that money is spent only for real needs.

The benefit of the company is the opportunity to improve productivity, because employees focus on work, they don’t have to think about finances at that moment.

As well as a very important aspect – loyalty – employees will not be deceived by a salary supplement, if they have the opportunity to handle their salary flexibly. This in turn reduces staff turnover costs and time spent selecting candidates.

And, of course, one of the most important points when choosing a job is the environment in the company and involvement. Feeling that the employee is taken care of, they value their employer, thus also increasing the employer’s own reputation not only in the eyes of existing but also potential new employees.

But considering the risks, if the service is not properly communicated in the company, and the employee feels that it is not money earned, but that he borrows from the employer, then the employee may not understand why part of the salary will be deducted at the end of the month, thus creating a bad impression of the employer.

If this service is introduced for a fee to your employees, they would have to pay for the request and for the withdraw, but if it is not successfully communicated, the employee may be unhappy that he or she has to pay for it. Therefore, it is very important to talk to the employees themselves, as well as the communication must be as transparent as possible, so that if you pay, you know what for. Sounds simple, modern and even exciting, doesn’t it?

What does it take to get started?

Stage 1 – we identify existing processes – how salaries are currently paid, on what date, where they are listed, etc.

Step 2 – we prepare a proposal – how we can provide our service to this company with minimal changes, what will be our role. Preparing a plan on how it will all work.

Step 3 – the implementation phase – when we actually send employees information on where the application can be downloaded and what needs to be done. The company signs a contract and, accordingly, the company’s employees have instructions on further processes.

Ko iegūst klients un kādi pastāv riski izmantojot Flipful pakalpojumu?

Flipful ir vienkāršs veids, kā katru dienu padarīt par algas dienu. Tas atļauj izvēlēties, kad saņemt savu nopelnīto algu, samazinot stresu un sev galvā uzdoto jautājumu- nu, kad būs?

Klientu (uzņēmumu) uzdotie jautājumi nav nekas jauns, īpaši, ja viņu vēlme ir uzsākt ko vēl nepiedzīvotu. Potenciālie klientu visbiežāk uzdotie jautājumi: vai tas nozīmē, ka vajadzēs papildus no savas puses piegādāt informāciju par darbiniekiem? Kāda ir atšķirība ar avansu? Vai darbinieks nevarēs izņemt vairāk nekā nopelnījis? Kā tas varētu darboties mūsu esošajos risinājumos?

Kā jebkurā biznesā, Flipful lietotājam ir gan savi ieguvumi, gan riski. Gala lietotājs (darbinieks) iegūst iespēju jebkurā vietā un laikā būt pasargātam no neparedzētiem izdevumiem. To varētu pielīdzināt lietussargam, ko aktivizēt brīdī, kad nepieciešams. Šī iespēja samazina stresu, jo lietotājs vairs tik daudz neuztrauksies par savu finansiālo stāvokli. Kā arī uzlabojas finansiālā labklājība – pētījumi pierāda, ka, ja cilvēks var elastīgāk rīkoties ar naudu un to var saņemt biežāk, tad viņš var izveidot uzkrājumus efektīvāk.

Risks, kuru būtiski pieminēt, kas notiek atsevišķos gadījumos, ir nepietiekama finanšu prātība, kas var novest pie tā, ka tiks izņemts viss pieejamais limits un nepietiks kādam rēķinam. Lai izvairītos no šādām un citām riska situācijām, Flipful ir iestrādājuši darbinieku mobilajā lietotnē finanšu pratības izglītību, kā arī no uzņēmuma puses nosakāmus summu un izņemšanas reižu limitus, lai nauda netiktu tērēta tā pat vien, bet gan reālām vajadzībām.

Uzņēmuma ieguvums ir iespēja uzlabot produktivitāti, tādēļ, ka darbinieki fokusējas darbam, viņiem nav jādomā par finansēm tajā brīdī.

Kā arī ļoti svarīgs aspekts – lojalitāte – darbiniekus nevarēs pārmānīt ar piemaksu pie algas, ja viņam būs iespēju elastīgi rīkoties ar savu algu. Tas, savukārt, samazina darbinieku mainības izmaksas un laiku, kas patērēts kandidātu atlasē.

Un, protams, viens no svarīgākajiem punktiem izvēloties darba vietu ir vide uzņēmumā un iesaiste.  Jūtot, ka par darbinieku rūpējas, viņi novērtē savu darba devēju, tādejādi arī pieaug paša darba devēja reputācija ne tikai esošo, bet arī potenciālo darbinieku acīs.

Bet, domājot par riskiem, ja pakalpojums nav pareizi nokomunicēts uzņēmumā, un darbiniekam šķiet, ka tā nav nopelnīta nauda, bet, ka viņš aizņemas no darba devēja, tad darbinieks var nesaprast, kāpēc mēneša beigās tiks noņemta daļa no darba algas,  tādā veidā  radīsies slikts iespaids par darba devēju.

Ja šo pakalpojumu ieviesīs par maksu saviem darbiniekiem, būtu  jāmaksā par pieprasījumu, par izņemšanas reizi, bet tas nebūtu veiksmīgi nokomunicēts, darbinieks var būt neapmierināts, ka viņam par to jāmaksā. Tāpēc ļoti būtiska ir saruna ar pašiem darbiniekiem, kā arī komunikācijai jābūt maksimāli caurspīdīgai, lai, ja maksā, tad zina par ko. Izklausās pavisam vienkārši, moderni un pat aizraujoši, vai ne?

Kas ir vajadzīgs, lai uzsāktu darboties?

1. posms – mēs apzinām esošos procesus – kā šobrīd algas tiek izmaksātas, kādā datumā, kur uzskaitītas utt.

2. posms – sagatavojam priekšlikumu – kā ar minimālām izmaiņām mēs varam nodrošināt mūsu pakalpojumu šajā uzņēmumā, kāda ir mūsu loma. Plāns, kādā veidā tas viss darbosies.

3. posms – ieviešanas fāze – kad mēs faktiski nosūtam darbiniekiem informāciju, kur var lejupielādēt aplikāciju un kas jāizdara. Ar uzņēmumiem ir noslēgts līgums un attiecīgi uzņēmuma darbiniekiem ir instruktāža.

Kad finanšu vadība aizrauj. Intervija ar Flipful vadītāju – Jāni Putniņu

Vadoties pēc mūsdienu klientu vēlmēm un apvienojot to ar finanšu labklājības vīziju, tika radīts jauns pakalpojums – Flipful, kas piedāvā saviem lietotājiem pasargāt sevi no neplānoto tēriņu sekām. Intervijā, uzņēmuma Flipful vadītājs Jānis Putniņš, stāsta par to, kā nonāca līdz idejai radīt jaunu finanšu rīku Flipful, kā arī pastāsta par pašu pakalpojumu un tā priekšrocībām.

Jāni, Tu esi finanšu jaunuzņēmuma Flipful vadītājs.  Kāda loma finansēm ir Tavā dzīvē?

Šodienas Covid-19 apstākļos, kā nekad, cilvēki izjutuši uzkrājumu nozīmi. Negaidītā situācija valstī veicināja arī neplānotus izdevumus. Daudzi ir zaudējuši darbu. Bet kā būtu, ja mēs veltītu vairāk laika savu finanšu sakārtošanai?

Šodien vairs nevienam nav jāstāsta, cik svarīgi ir parūpēties par naudas lietām. Finanses ir būtiska ikdienas sastāvdaļa, kurai ir jābūt sakārtotai. Sakārtoti finanšu jautājumi ļauj justies droši par savu rītdienu, t.s. “drošības spilvens” pat tad, ja rodas negaidīti pavērsieni dzīvē. Nedomāju, ka visiem ir jābūt nozares profesionāļiem, taču pamata zināšanas gan noderēs ikvienam. Finanšu pratība uzlabo ne tikai finansiālo stāvokli, bet arī kopumā ceļ dzīves kvalitāti un mazina ikdienas stresa līmeni.

Pats savas finanses pārvaldu jau no 16 gadu vecuma. Pēc savas personīgās pieredzes zinu, ko nozīmē dzīvot “no algas līdz algai”. Esmu vairākus gadus gan studējis, gan strādājis finanšu nozarē, tai skaitā, pārdzīvojot finanšu krīzes periodu. Līdz ar to esmu pieredzējis gan labus, gan ne tik labus laikus, gan veiksmīgus, gan ne tik veiksmīgus piemērus.

Pastāsti sīkāk par savu darba pieredzi finanšu sektorā!

Mana darba pieredze banku sektorā vērojama jau no 19 gadu vecuma. Sākumā strādāju Swedbank kā klientu apkalpošanas speciālists privātpersonām,  sniedzu konsultācijas  uzņēmumiem par bankas pakalpojumiem un iespējām. Pēcāk kā projektu vadītājs izstrādāju uzņēmumiem risinājumus naudas plūsmas jautājumos – kā plānot ienākošo un izejošo maksājumu plūsmu un izvēlēties rīkus biznesa atbalstam.

Luminor (exDNB) mana pieredze vairāk skāra banku digitālos risinājumus, piemēram, bija jāievieš un jāpalaiž tirgū mobilā banka. Šajā jomā bija ļoti svarīgi izzināt klientu pieredzi no lietotāja puses. Kopumā banku sektorā vairāk kā 10 gadu garumā esmu strādājis ar dažādiem finanšu pārvaldības aspektiem un projektiem, kas arī palīdzēja veidot daudzpusīgu izpratni par klientu vajadzībām.

Nosauc 3 galvenos iemeslus, kāpēc izveidoji Flipful!

Pirmkārt, cilvēkiem ir vajadzība pēc risinājuma, kas ļauj neaizņemties naudu no trešām pusēm un tikt galā ar neplānotiem tēriņiem pašiem. Flipful sniedz cilvēkiem ētisku alternatīvu saņemt nopelnīto algu, ko izmantot neplānotiem izdevumiem. Un situācijā, ja steidzami jādodas pie ārsta, vairs nav jāņem ātrais patēriņa kredīts.

Otrkārt, protams, tas nevar pilnībā mainīt patēriņa kultūru (tas neatrisinās visas problēmas), tomēr balstoties uz vairākiem izzinātiem pētījumiem (piemēram, Wendy De La Rosa – 3 psiholoģiskie triki, kas palīdzēs ietaupīt naudu), tas dod iekšējā miera sajūtu, mazinot emocionālo spriedzi, un arī palīdz uzlabot finansiālo situāciju ilgtermiņā.  

Treškārt, mani aizrauj tāds produktu izstrādes process, kas atstāj pozitīvu ietekmi uz cilvēkiem. Ja es varu izstrādāt risinājumu, kas cilvēkiem ir nepieciešams un ko tie labprāt izmantotu – domāju, tas ir ļoti svarīgs iemesls, kāpēc izvēlēties to darīt.

Kādi ir Flipful attīstības plāni? Pie kādiem uzlabojumiem tiek strādāts?

      Pašreiz cilvēkiem ir iespēja izņemt savu atalgojumu. Nākamais uzdevums mums būs ieviest iespēju automātiski novirzīt daļu no algas uzkrājumiem, lai izveidotos jau iepriekšminētais “drošības spilvens”, lai cilvēki varētu brīvi veikt un organizēt savus uzkrājumus. Nākotnē plānojam arī sniegt personalizētus padomus, kas vairotu cilvēku zināšanas par sava budžeta organizēšanu, kā pareizi veikt uzkrājumus un vadīt savas finanses. Pašreiz esam izveidojuši pamatu finanšu pratības izglītošanai, taču, turpinot strādāt pie šī projekta, plānojam pieejamos pakalpojumus kombinēt ar informāciju no lietotāja bankas. Šāds risinājums ļaus cilvēkam saņemt jau ļoti konkrētus un personīgus ieteikumus.

When finance management is a passion. Interview with Flipful founder – Janis Putnins

Guided by the needs of today’s customers and combined with a vision of financial well-being in society, a new product was created – Flipful. It offers users to protect themselves from the consequences of unplanned expenses. In the interview, the founder of Flipful, Janis Putnins, talks how he came up with idea of creating a new financial tool Flipful, tells us about the service itself and its advantages.

Janis, you are the founder of the fintech start-up Flipful. What role does finances play in your life?

Today due to Covid-19 circumstances, more than ever, people have felt the importance of savings. The unexpected situation in the country also contributed to unplanned expenses. Many have lost their jobs. But what if we devoted more time to arrange our finances?

Finances are an essential part of everyday life that needs to be organized. Arranged financial issues make you feel confident about your future, so to speak, you create an “airbag” for unexpected changes in life or sudden unplanned expenses. I don’t think everyone should be a professional accountant, but basic knowledge will be useful for all. Financial literacy not only improves the financial situation, but also raises the quality of life in general and reduces the level of daily stress.

I have been managing my finances since I was 16 years old. From personal experience, I know what it means to live “from salary to salary”. I have both – studied and worked in the financial sector for many years, including going through a period of financial crisis. Therefore, I have experienced better and less good times, as well as successful and less successful examples.

Tell us more about your work experience in the financial sector!

My work experience in the banking sector has been observed since I was 19 years old. Initially, in Swedbank I worked as a customer service specialist for individuals, providing advice to businesses on banking services and opportunities. Later, as a project manager, I developed a solution for companies in terms of cash flow – how to plan the flow of incoming and outgoing payments and select the right tools for business support

My experience at Luminor (ex DNB) was more related to digital banking solutions, such as the introduction and launch of mobile banking. In this area, it was very important to understand the customer experience. In general, with more than 10 years of experience in the banking sector, I had worked on various aspects of financial management and projects, which also helped to develop a comprehensive understanding of customer needs.

Name 3 main reasons why you created Flipful!

First of all, people need a solution that allows them not to borrow money from third parties and so deal with unplanned expenses on their own. Flipful provides people with an ethical alternative to get their earned salary when needed for unplanned expenses. And in a situation where you need to see a doctor urgently, you no longer have to take a fast consumer loan.

Second, of course, it cannot completely change the culture of consumption (it will not solve all the problems), but based on many researches (for example, Wendy De La Rosa with 3 psychological tricks to help you save money), it gives a feeling of inner peace (decreases emotional tension), and also helps to improve the financial situation in the long term.

Third, I am fascinated by the product development process that has a positive impact on people. If I can come up with a solution that people need and would like to use – I think that’s a very important reason to choose to do so.

What are Flipful development plans? What improvements are you working on?

People now have the opportunity to withdraw their salary when needed. The next task for us will be to introduce the possibility of diverting part of their salary to savings automatically to create an ‘airbag’ so that people can freely make and organize their savings. In the future, we also plan to provide personalized advices that would increase people’s knowledge of how to organize their budget, start savings, and manage their finances. We have now created a basis for financial literacy education, but as we continue to work on this project, we plan to combine the available services with information from the user’s bank. Such a solution will allow a person to receive very specific and personal recommendations.

Flipful is selected for Startup Wise Guys B2B SaaS Batch 16

Startup Wise Guys accelerator is Europe’s most experienced B2B startup accelerator providing a no BS, hands-on 3 month intense mentoring program with focus on idea shaping and validation, business development, sales and fundraising, topped up with a Tech Week for CTOs and developers, as well as exposure to investors during regional Tech events and special match-making opportunities.

Flipful has been selected amoung 11 international teams from all over the world to receive investment and take part in a 3 month long acceleration program in Tallinn, Estonia.

For the SaaS Batch 16 startups the communication with customers, data oriented business development and operations management for business growth are at the center of attention, as well us employee and client satisfaction. Founders from Estonia, Latvia, Ukraine, Russia, Turkey, Switzerland and even Australia and Iran will be working closely together over these three months and pushing their startups forward for the next big milestones.

Batch 16 is managed by Managing Director Alexandra Balkova from Ukraine and Program Manager Darja Ogorodnik from Estonia, they both are deep diving into these roles for the third time since they joined Startup Wise Guys, and they will work closely with Startup Wise Guys Global CEO Cristobal Alonso as the strategic driver.

More information available: https://startupwiseguys.com/meet-the-next-12-startup-superstars-from-our-b2b-saas-batch-16/

Flipful is now a YCombinator Startup School Graduate 🎓

Y-Combinator is a Silicon Valley accelerator, having spawned highly successful companies including Airbnb, Dropbox and Stripe, located in Mountain View, California. Its Startup School is an online program teaching teams around the world the most important entrepreneurial cornerstones.

Y Combinator had accepted several startups into its Startup School 2019 batch program recently and Flipful was one in all them.

The course included three lessons each week, but also an “office hour” every Thursday, which gave us the chance to meet like-minded early-stage entrepreneurs and discuss each company’s latest developments. During these ten weeks, we had the great opportunity to participate and learn from the best of the best of California’s startup landscape.

The fascinating talks ranged from topics on product building, finding product market fit, managing user growth, measuring performance, design, sales, building an engineering team to fundraising.

For our team the created value has been immense. Not only did we strengthen our practical knowledge on top of our theoretical fundamentals, but we also grew our corporate network further beyond the Baltic borders.

Startup School was an invaluable edge for our team, and we thank YCombinator for creating this opportunity.

Graduation notice (available here)

Social Entrepreneurship Forum 2019 in Riga, Latvia

Social entrepreneurship is high in Flipful agenda, therefore we took part in this year’s Social Entrepreneurship Forum in Riga, Latvia.

On May 24th almost 200 participants gathered to the 10th Social Entrepreneurship Forum in Riga, Latvia. Can social entrepreneurship be a successful business? This was the main question of this year’s forum. The answers were sought during the lectures, workshops, and competitions throughout the day.

We had the following privilege to gain:

  • Inspiration and ideas for starting or improving your own social entrepreneurship
  • Knowledge and skills for creating a successful social entrepreneurship model
  • New contacts and partnerships between social and traditional entrepreneurs
  • Opportunity to discuss your own social entrepreneurship idea and hear expert opinions on that
  • New ideas for social responsibility projects of traditional businesses.

We were happy to see so many companies joining the forum and looking into the same direction, which means that the social responsibility is truly important for entrepreneurship.

Such forums really can make a difference as all of the speakers brought something new to the audience with their stories – participants had the chance to hear about different social businesses, their operational modules and discuss possible co-operations.

Social Entrepreneurship Association of Latvia website: https://sua.lv