Jana Belugina on her passion for sustainability, 3S Money’s expansion into the Middle East and its no chat-bot policy | |
Staff Writer |
She defines herself as a mindful fintech leader, mentor, Defi advocate, and a multipotentialite, yet she loathes to be put into boxes because we are forever evolving.
Belugina is the Head of Growth for 3S Money UAE a radically different financial firm offering multi-currency payment accounts for businesses in the Middle East and around the world.
Here, she sits down with T2NZ to talk all things Jana as well as discuss 3S Money and their expansion into the region and how the business is mindful of the region’s climate-forward agenda.
Q: Please tell us more about 3S Money and your plans for the region.
A: 3S Money is a UK-headquartered B2B financial service that is providing businesses with multi-currency payment accounts, transforming the pain of international transactions into new opportunities for growth and conquering new markets. Our digital accounts are designed for high-value import and export transactions, dividend distributions, finance, and treasury operations, with 3S Money handling all aspects of cross-border payments and FX risk management. 3S Money connects corporates to their customers globally by providing them with local business accounts to send and receive funds through all major payment rails.
UAE is a new market for 3S Money and we have chosen to set up here because Dubai is an international trading hub and a major financial center. At the moment, we are working closely with the Dubai Financial Services Authority on getting our regulated license and setting up a fully operational office in DIFC, the financial heart of Dubai.
There are big plans for UAE and the Middle East region as this is one of our top priority markets at the moment.
Q: How do sustainability and carbon neutrality initiatives fit into your company and personal life?
A: We are still a new office here in Dubai, so we are still developing the best ways to be sustainable, which is a huge passion of mine. In our office we have started by staying away from plastic bottles of water, we recycle our coffee capsules (a great initiative by Nespresso that produces a lot of very important things from recycled aluminium and coffee grounds), we are mindful about our lights, as unless someone is in the room we keep the lights off and keeping our AC at moderate temperatures. Very basic, yet simple to follow. Slowly, we are looking into introducing more of the initiatives and participating in different programs.
I won’t be talking about all my personal efforts, but since I am leading a financial entity, I would like to underline something that many are forgetting about –following EGS principles in personal investments. I avoid supporting companies that produce hazardous waste or test on animals, I don’t invest in businesses connected with fossil fuels or weapons. I do my best to invest in green energy and companies with a high environmental index. I think this is important to “vote” with my money, by investing in what is important for me and our planet.
Q: Please tell us what you feel would be the one positive change that could be implemented at an industry level to raise the global standard on sustainability and carbon neutrality, taking the industry to the next level?
A: It is already clear at this point that banking is going digital, it is not something that will happen – this is already happening. Banks are heavily investing in technology, yet I think it is still not enough and the main challenge is changing the mentality of the users. I see the best technologies being acquired, but I also see poor implementation and resistance to using them.
I’d like to mention Estonia as a great example, I haven’t actually visited a bank back home in about ten years, I’ve never needed to submit anything on an actual paper and never had to sign anything with a non-digital signature. Equally, I’ve never needed to fill out enormous amounts of forms with the information that is already available to me.
Another thing that I personally believe is essential is so-called “sustainable lending” when banks should raise their standards on ESG considerations on the conditions of the loans to businesses. This would incentivise companies to meet their EGS performance objectives.
In general, banks could be setting an example to their users, motivating them to live sustainably, which can be done through various programs influencing the spending towards products and services with a lower environmental impact, for example.
Q: Could you please tell us more about your ‘no chatbot’ policy?
A: We are very passionate about our “no chatbot” policy. I think there isn’t anyone who hasn’t experienced the difficulty of trying to make sense out of a chatbot, especially when it involves your money.
Our clients confirm daily that one of the main challenges faced by business managers in their banking solutions is the lack of human service when they need assistance. Customers are constantly getting lost in a loop of automated emails and chatbots.
3S Money has taken this matter seriously by allocating a dedicated Client Manager, who understands their business and is just a phone call or WhatsApp message away. It’s real human, that our clients can always get in touch with.
Our clients receive unrivalled levels of service and attention, and Client Managers support them to manage currency risk and strategically handle their international payment requirements. We can handle transactions in over 40 currencies, delivering levels of personal service normally often provided by large merchant banks to global corporations.
Q: How did you get involved in fintech and developed an interest in sustainable and mindful living? Also, how did you get involved with 3S Money?
A: I’ve been always passionate about sustainability and have been maintaining an environmentally-friendly household and lifestyle for as long as I can remember. I guess it comes a lot from travelling around the world and learning bits and pieces here and there.
For example in Australia, on a dive trip to the Great Barrier Reef, I’ve learned how we humans are damaging the corals and how it is connected with the ocean and the rest of the Earth. Or when visiting Yemeni Socotra and seeing how plastic is suffocating the island and polluting the sea, resulting in more damage to the life that we normally see on the surface.
I always research the topic deeper, connect with organisations responsible for special causes and surround myself with like-minded people to dig deeper. I strongly believe that sustainability should be taught in schools because I refuse to believe that people would consciously want to kill the planet, they are simply not aware.
As for Fintech, I’ve always been in the tech field and am very interested in its developments in the financial sector. I am in general very fond of technology – it might be my Estonian genes talking, as we are one of the most digital countries. So, when I met Ivan, our CEO, here in Dubai, as 3S Money was still at its very early stages, he shared with me his passion and what the company was doing – I was sold immediately. Being on another side of using financial services, as a director of a business, I could instantly see the benefit and an opportunity that it would bring to the region.
Since then we’ve grown tremendously, I haven’t had a single dull day and always felt that we are making the lives of clients easier.
Q: Please tell us about your favourite city and book of all time and why?
A: I do not like referring to something as favourite of all times, as we are all human and we evolve, thus changing our preferences. I’ve lived in 8 different cities and visited hundreds, however, the fact that I’ve been 7 years in Dubai, I think speaks for itself. I am enchanted by this town, and it never stops impressing me. And surely my hometown, Tallinn, would be on top of my list, for its medieval Old Town and cosmopolitan vibe.
As for books, I read a lot. Meaning I like variety and good writing. In general, I like reading non-fiction mostly, as this is how my brain is wired, to never give it a rest, I guess. However last year I committed to reading one fiction to match every non-fiction book I read because it always gives another perspective. A good fiction book is like meeting a new person and diving into his story, looking at the world with another pair of eyes.
I don’t have a favourite book, but what I can recommend reading, especially in the current economical situation, are definitely “Signals” by Pippa Malmgren and “The Psychology of Money” by Morgan Housel. As for fiction, it’s hard to recommend, but what kept me awake at night was “A Little Life” by Hanya Yanagihara and “the Binding” by Bridget Collins.