iSwiss, the bank that changed global finance
The world of international finance is going through years of great change and Aleo Christopher is certainly one of the protagonists. At 36, he already has various international financial experiences which led him to found iSwitzerlanda Swiss international group.
It is a passion for finance that Aleo has pursued since his student days, he was convinced that the current financial system is anchored to the old models of the 20th century. “Finance is the only sector that is not affected by the digital revolution, says Aleo – yes the banks have beautiful sites and beautiful apps but the transfer starts from Monday to Friday during office hours as there are fifty years. Do you have customers from different time zones or other cultures who work on Sundays? Sorry, come back on Monday,” Aleo continues.
iSwiss, the group founded and led by Aleo, is a financial services conglomerate inspired by Aleo’s revolutionary vision to provide global, fast and affordable financial services and financing to entrepreneurs with innovative projects. An internal settlement house, for example, allows you to make transfers in over 30 different currencies around the world, seven days a week in an average time of 37 seconds. Another example is the integration between currency accounts and cryptocurrency accounts which allows users to choose to be charged in euros or in the cryptocurrency of their choice when using their credit card. .
“Cryptocurrencies are part of the global financial system – says Aleo – it’s a fact. We provide an integrated cryptocurrency custody platform. One of the problems with exchanges – continues Aleo – is their lack of intrinsic reliability. They all have offices in exotic jurisdictions or don’t even have a head office, like the largest stock exchange in the world. Tomorrow morning we may wake up and find the servers down as has happened before” .
“For this reason, we have decided to choose the most conservative country with the greatest legal guarantees. Our custodial services are approved by the Italian authorities and we are subject to strict anti-money laundering obligations. Each user who entrusts us with their cryptocurrency deposits is insured and is sure to rely on a partner controlled by an independent body. We also offer free tax advice in making withholding and paying taxes for Italian clients. We are the only ones to do so, but crypto-currencies will only be viewed with suspicion if they prove to be in line with the regulations in force,” concludes Aleo.
But it was in the funding revolution that Aleo changed the cards on the table, according to some outside observers.
“In the current banking system – explains Aleo – the bank takes customers’ money to lend it to other customers who pay interest that the bank retains. This, in simple terms, is the banking business from the time of the Medici of Florence until today. In this business model, the risk of insolvency is borne by the bank, because the customer – whose deposits were used for the loan – knows nothing about it and has never accepted any risk, and wants his money back as much that he asks. . . This leads the bank to take a cautious approach in loan disbursement. The bank is not interested in the business project or in innovation, the bank is only interested in the guarantees because the risk is with the bank and the activity of the bank is not risky.
However, there is a type of people whose job it is to take risks: investors.
Securitization, on the other hand, is a system that allows you to transfer the risk of money from bank account holders to the market. A market is a place where investors or people work who seek risk because they derive profit from it. We transfer the financing risk to these investors. The money used in the loans, in fact, is not withdrawn from the deposits – as it happens in the common bank – but collected on the market via the titles of the companies of vehicles which place the credits and raise funds”, concludes Aleo.
This solution, as simple as it is ingenious, has a great practical impact. iSwiss, in fact, evaluates the client in its complexity without dismissing those who have had stumbles in the past or a bad credit history. “Everyone has the right to have more chances in life. For a person to whom the doors of the loan are closed, it can mean being sentenced to life,” concludes Aleo.
But for Aleo, it’s not just business. “We are convinced that a successful business must have a social dimension that goes beyond short-term profit. It must be useful to the community in which it works and be part of this movement of progress which must characterize humanity.
At iSwiss, for example, we aim to reach zero emissions by 2024 so as not to contribute to climate pollution. We have invested 20 million Swiss francs to achieve this goal. Our servers, offices and all infrastructure must be powered exclusively by energy from certified or self-produced renewable sources. This is an ambitious goal especially for those who, like us, work in many countries, even very different from each other in culture and development. We are very happy, for example, with our landing in Romania, where we bought a historical holding company, the Alva group, which we display in iSwiss Credit.
In Romania, we found a really warm welcome and wonderful partners such as my friend Edward Irimia, a well-known film producer and international successful entrepreneur who introduced us, with a pleasant surprise, to a modern and dynamic country like Romania of today. concludes Aléo.