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.


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