We continue to introduce our founders to you. This time we interviewed our CFO Serge Nikitin.
— Serge, you have extensive experience in banking, what are the main problems in this area?
— The main problem is the structure of the banking area. The key point is that we don’t need banks in the changing world, we just need banking. A bank should not be a place, it should be an instrument. Banks are ineffective, business processes are weak. They have no orientation on the customer. They care about a product, about themselves, but not about the customer with his needs and lifestyle.
— At some point, you started to work in FinTech. Why did you find FinTech attractive?
— I saw perspective in FinTech, there is no such perspective in traditional banks. Digital banking has the whole new approach. Business processes are changing, business development is changing, relationship with the customer is changing. Banking becomes interactive, simple, and accessible. That was a challenge for me. I really enjoyed transforming the traditional banking into banking 2.0.
— Will blockchain improve banking or destroy it? How long will it take to implement blockchain in banking?
— I think that there are two ways to answer this question. The First answer in romantic and anarchic and the second one is mild and progressive. I think that progressive reformation is closer to me. Blockchain itself can’t change any market. Banking is centralized and the regulation is high, so development depends on laws and governments.
As soon as the use of blockchain will be legalized, new business processes will be implemented. There is no reason to destroy the banking system and no one will allow this. It will evolve, it is already evolving.
— How did you develop an interest in smart contracts and why did you decide to start working in the startup?
— I first learned about smart contracts when I started studying blockchain. But the key moment was in 2016 during Vitalik Buterin’s conference in Skolkovo. He talked a lot about smart contracts. Future FinTech, project that I worked with, brought him to Russia. I wanted to participate in the implementation of smart contracts. I’ve participated in different startups, but when I was offered to take a look at Smartz I found it really interesting. I saw that many things that I thought about before may be brought to life with Smartz. Then I understood which role I will have in the project’s development and started working together.
— Working in a bank or in a startup. Which suits you more?
— Hard to tell really. You know, like asking a father who he loves more: son or daughter. I worked in banking and investment for more than 20 years and only in 2015 I started working in FinTech and blockchain. For me, these areas are not mutually exclusive. There is more order and regulation in banking. These things are unusual for a startup. For me it’s a new challenge, we are trying to make the efficient product. My experience in banking and investment gives me self-confidence. There are more opportunities to bring your vision to life working in a startup. The rigidity of regulation is not a problem for us. We build all processes and develop the project the way we want. Which is more comfortable for me? I like to apply my knowledge and experience in a startup. I am sure that it makes the life of the active and modern man better.
— What is your greatest achievement?
— I had a number of achievements. Build treasuries from the scratch. Made work processes in banks better. But I believe that my biggest achievement will happen in the future. I see in Smartz’s success. I am proud to work here and I am sure that I will be proud in the future as well.
— The last question is personal. What are your interests despite of work?
— I am a football fan, used to support my team both home and away. I love music: hard rock, progressive rock, blues, jazz. Movies: mostly those which make you think. I like to travel, but I plan all the details myself.
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