http://idcee.org/p/michael-kent/
Michael founded the digital payments business Azimo in 2012 and serves as the company’s CEO. Primarily focused at the world 200m+ economic migrants, the business allows customers to send money from any Internet connected device to 198 countries fast, secure and at very low cost.
Prior to Azimo, he co-founded the Small World Financial Services Group, building the company up, via a series of 14 acquisitions, to be Europe's largest offline money transfer provider with turnover in excess of $4bn pa.
He is also an active Angel investor with investor and advisory roles in number of UK based fin-tech businesses.
Before becoming an entrepreneur he worked in the financial services practise at Accenture and held senior M&A roles at WPP and News Corp. He holds an MA from Cambridge University and an MBA from INSEAD.
Pic's are here: http://www.flickr.com/photos/idcee/sets/
More @ http://idcee.org
Follow us on:
YouTube: http://www.youtube.com/user/OfficialIDCEEChannel
Facebook: https://www.facebook.com/IDCEE
Linkedin: http://www.linkedin.com/groups/IDCEE-3940138
Twitter: https://twitter.com/idcee_eu
Google+: http://gplus.to/idcee
Flickr: http://www.flickr.com/photos/idcee/collections/
2. Michael
• Mergers & Acquisitions for
WPP and News Corp
• MBA from INSEAD
• Accenture & ADL
About me…
Azimo – Founder (2012 – Present)
• World most comprehensive digital payments business: 198+ countries
• Backed by eVentures, Greycroft and TA Ventures ($10m+ capital)
• Payment advisor in PE and consulting industry
Small World – Founder (2005 – 2012)
• Inception to Top 10 offline global money transfer business
• 18 Countries, 8.4 m pa transactions and $4.5 billion per annum volume
• Raised $50m+ equity and debt funding.
3. Payment Networks Money Transfer Ops Digital Wallets FX Brokers Protocols
Telcos Payment Processors
International Payments
Ecosystem (Simplified)
Hint: it’s very complicated
Internet Giants eCom Retailers Messenger Banks StartUps
4. The Volume and volume of cross-border payments are
vast and growing fast
5. Global and EU consumer remittance flows are huge
and growing at 10%
Market Volumes
Global $550bn pa
European $102bn pa
USA $50bn pa
Top European Volumes
Germany $15bn
France $12bn
Italy $10bn
Spain $10bn
UK $8bn
Highly fragmented
Western Union c. 15% share
6. Largest remittance market in region: one third
Russia, one third EU and one third ROW
x9+
5%+ GDP
$1bn
“The true size, including unrecorded
formal and informal flows, is believed to
be significantly larger”
7. Macroeconomic Opportunity = 3 Global Megatrends
Internet
and Mobile
Ubiquity
Bitcoin and
the
blockchain
The Rise of
Social
12. “There’s going to be an opportunity over the next five
years or so to pick any industry and rethink it in a
social way… we think that every industry is going to
be fundamentally re-thought and designed around
people.”
20. The block chain and distributed general ledger has the
potential to change everything
Predictions
• Wholesale impact will happen
Protocols
first
• Anonymity will be removed
(Bitcoin too sullied to survive)
• Consumer wallet adoption will be
limited
Stellar
21. Azimo is the Re-Imagination of Cross Border
Consumer Payments
9% 2%
Then Now
Expensive, Inconvenient
and High Exception
Low Cost, Easy,
and Efficient
22. Disrupt the $500bn money
transfer industry by
focusing on the customer
and using technology to
bring down prices.
Build a $1bn business.
Our mission
23. 3,762
The scale and reach of the Azimo
Platform
Corridors
300,000+ Payout Locations
Largest digital only network
5,000,000,000 Customers Reachable
Via Cash Payout and Direct to bank account services
6 Payout
Methods
73 Currencies 198+ Receive Countries
24. Operating model: simplifying the complex
multi-relationship remittance processes
To Mobile (Wallet
Compliance Risk Engine Blacklists
Internet, Cash Deposit, Debit Card, APM
Failover
Monitor
Acqrs/Gatewys TopUp)
Mobile
Application
Internet
Application
Automated KYC, Compliance, Risk
To Cash
Home Cash
Delivery
Bank Network
To Account
Bill/Healthcare
Payments
Funding
Alt Payments
API
SFTP
Transaction
Engine
Application
Layer
Marketing, Reporting and CRM System
Global Network
Live
Fee & FX
Margin
Pending
Multi Channel Support Outbound Comms Deep Analytics Real time CPC, GDN Social, Affiliate, ATL
25. Disbursement
To Mobile (Wallet
Leveraging new technology
Compliance Risk Engine Blacklists
Risk and
Compliance
Funding
Internet, Cash Deposit, Debit Card, APM
Failover
Monitor
Foreign
Exchange
Acqrs/Gatewys TopUp)
Mobile
Application
Internet
Application
Automated KYC, Compliance, Risk
To Cash
Home Cash
Delivery
Bank Network
To Account
Bill/Healthcare
Payments
Funding
Alt Payments
API
SFTP
Transaction
Engine
Application
Layer
Marketing, Reporting and CRM System
Global Network
Live
Fee & FX
Margin
Pending
Marketing and
Multi Channel Support Outbound Comms Deep Analytics Real time CPC, GDN Social, Affiliate, ATL
CRM
Reporting
26. Traction - Weekly Visitors
Period Jan. 2013 – July 2014
Up to
7x
More traffic
27. Traction - Transactions
Dec-12
Jan-13
Feb-13
Mar-13
Apr-13
May-13
Jun-13
Jul-13
Aug-13
Sep-13
Oct-13
Nov-13
Dec-13
Jan-14
Feb-14
Mar-14
Apr-14
May-14
Jun-14
Jul-14
Up to
10x
More
transactions
28. *Estimated
Traction - Volume
Up to
14x
More Volume
Q1 13 Q2 13 Q3 13 Q4 13 Q1 14 Q2 14 Q3 14*
31. “If the transaction costs on remittances
worldwide were cut from where they are today at
around 10% to an average of 5%....
…it would unlock $15bn a year in poor countries”
33. International Payments are where it’s at…
Massive and Fast Growing Market Opportunity
Next stage in the evolution of digital: money
Slow legacy players = disruption potential
Room for new $1bn companies
Potential to change the world for the better