Fintech
“Artificial Intelligence Can Revolutionize Risk Management”
Interviewed by The Cryptonomist Nikolai Denisenkoco-founder and Chief Technical Officer of Brighty App, will talk about his career path at Revolut and his experience in the fintech sector.
In fact, Nikolay is a techpreneur and has more than 10 years of experience in applied mathematics, business process management and application development. Before creating Brighty, he was a Lead Backend Engineer at Revolut, which developed Revolut Corporate, considered the most profitable division of the company.
Your journey from Revolut to co-founding Brighty is impressive. Can you share key experiences and lessons from Revolut that shaped your approach to developing Brighty?
Thank you! I am grateful for my journey at Revolut and the team I had the opportunity to work with. My time there helped me develop a user-centric mindset. When I developed Brighty Application and launching new features, user experience is our top priority. It is important to us to make sure that the app is reliable and easy to use, helping users manage their finances as easily as possible.
From a technical perspective, I also had the opportunity to hone my technical skills while at Revolut, testing codes and implementing new competitive features that were innovative and hard to find at the time.
Beyond that, it’s been inspiring to see Revolut grow and scale its operations efficiently, while maintaining a solid security framework, which has been key here – these lessons are key in the development of Brighty, although it’s important to note that every business and app has its own trajectory and circumstances to navigate.
Having extensive experience in the fintech industry, what do you see as the most significant trends and challenges in the crypto-fintech industry today?
In the cryptocurrency fintech sector, we are seeing a push towards decentralized finance (DeFi), which are revolutionizing traditional banking, lending, and investing. Blockchain technology is being integrated to facilitate more transparent and secure transactions, and artificial intelligence is set to play a major role in developments within the fintech space.
At this point I feel like a broken record saying this, but the biggest challenge is the regulatory landscape. Every jurisdiction has its own way of approaching cryptocurrencies and we must always be vigilant when it comes to new rules, as well as being proactive about anti-money laundering and internal screening. As a regulated app, we have an expert team in place to ensure we stay up to date with the latest regulations and comply with them.
Trust and adoption are another challenge. It’s an exciting space, but as a growing industry that has yet to see mass adoption, the general public is put off by the volatility the cryptocurrency market experiences. The technical nature of the industry also hinders trust and adoption, not to mention scam stories that become infamous and grab the attention of the press, further damaging the image of the cryptocurrency fintech industry.
AI is transforming many industries, including finance. How is Brighty leveraging AI to enhance its offerings, and what potential do you see for AI in the broader crypto fintech space?
That’s a great question because we’re actually about to launch our brand new AI-powered product for our Brighty Pro members. Brighty will offer an AI-powered investing platform where users can invest in data-driven strategies with just one click.
AI will help analyze millions of data points and provide continuous monitoring and adjustments based on market trends, news, and behaviors to optimize returns. We are very excited about this launch and offering this investment opportunity to our app members.
In the broader cryptocurrency fintech sector, Artificial intelligence has the potential to revolutionize risk management, automate trading strategies, and streamline compliance and support processes.
Given your experience in business process management, how do you ensure that Brighty’s operations are both efficient and scalable, especially in such a rapidly evolving industry?
First, we’ve assembled a hardworking and efficient team that helps us keep our business processes running smoothly. At Brighty, we focus on scalable infrastructure and agile methodologies, which allow us to quickly adapt to the fast pace of the industry and user needs. Internally, we conduct regular performance reviews and leverage analytics to help us identify bottlenecks and optimize processes.
This ensures that as we grow, our operations remain fluid and scalable.
Looking ahead, what innovative features or developments can we expect from Brighty? Are there any emerging technologies or trends that you are particularly excited to integrate into your platform?
Our next exciting development is the AI investment manager I mentioned earlier. We think this will help improve our user experience given the broader capabilities of the app and attract new users who want to try new investment strategies.
Brighty vaults are also an interesting product that offers significantly higher earning potential than traditional financial institutions, without locking up any funds: we intend to continue improving this feature and offer a wider choice of assets to earn on.
We also plan to enhance the features of our Brighty crypto card, which will give our members even more earning opportunities – more information on this will be coming soon, so I encourage you to follow us on social media to make sure you don’t miss out!