Andrew Shaban CEO & Founder at Fresh Lime Soft, a Full-Stack software developer, and a…
Exclusive interview with the CEO & Founder at AURA PAY, Jesús Javier Guevara Monjes.
Startups, companies and investors from almost 120 countries are waiting to connect with you in the Finnovating platform. Join them!
Jesús Javier Guevara Monjes, is a university professor in the commercial area, with specializations in Marketing and Management of service companies. He has more than 20 years of experience as an entrepreneur and business manager, developing commercial and financial projects in different industries. He has a clear purpose and that is to impact Latin America and the Caribbean by solving financial and social problems through technology, cooperating with different actors in the global economic ecosystem.
AURA PAY, is a FinTech that is emerging as the digital tool that will revolutionize the family remittances sector in Latin America and the Caribbean. In this sense, they are preparing to be an active voice within the global FinTech ecosystem, taking advantage of the Finnovating window to expose their vision and experience.
Finnovating (F): Tell us a bit about AURA PAY and how the FinTech started.
Jesús Javier Guevara Monjes (JJGM): Latin America and the Caribbean is “woman,» by nature it is a fighting, enterprising, resolute and creative region. AURA, is the human face of a very powerful region, it is the reflection of the improvement of working people, engine of economic and social development.
AURA PAY arises as a response to the growing market for sending family remittances to Latam and the Caribbean, being a digital business alternative, which promises better benefits and functionalities in exchange for fewer commissions. Access to the AURA PAY digital tool is a step towards inclusion and can help migrants improve their quality of life. Sending money to families in LATAM cannot continue to be a headache for migrants, representing high administrative costs, with counterproductive repercussions on the exchange rate.
Our purpose is clear, we want to revolutionize the family remittances sector by offering a transparent digital solution that responds to primary economic and social problems of migrants in Spain. AURA PAY offers speed, security and transparency in each operation, becoming an ally for its clients, allowing operations to be carried out from a comfortable digital interface, with multiple remittance options.
(F): How did the idea come about?
(JJGM): We were clear that we wanted to transform the finances of migrants in Spain, it has always been our interest. AURA PAY as we know it today, emerged in the midst of the Demium Talent Investor acceleration program. In this dynamic, we evolve our concept approximately 9 times. We find that the indicators of remittances for Latin America and the Caribbean are significant, it is a sector that has been growing for the last 10 years, only in 2021 it reflected a growth of 21.6%, which represented more than €110B in money transferred to families.
However, migrants suffer from high costs for the money transfer service, excessive administrative bureaucracy and little transparency when expressing the final change they receive in the destination countries. These are the pains that we want to solve, since we know that any percentage point of improvement translates into well-being for migrants and their families.
(F): You are the current CEO and Founder of AURA PAY. How does the company fit into the global FinTech ecosystem?
(JJGM): We believe that this is the best time to launch our solution, the global sector is ready for diversity and, above all, for discovering new technologies and different ways of solving real problems through them. The fact that all our infrastructure is digital gives us the agility to operate in any market, this is essential for our expansion plan.
The family remittance industry has been very traditional, with a complex operating structure. AURA PAY is a digital native solution that promises better features, part of the DNA of the global FinTech ecosystem.
Can you imagine connecting with AURA PAY? It’s possible! Enter the global startup platform.
(F): What is the value proposition of AURA PAY?
(JJGM): AURA PAY seeks to promote the reduction of inequalities with an accessible, practical, inclusive and fair financial solution, offering exclusive transnational digital accounts for remittances.
AURA PAY’s value proposition includes three elements, the first being a subscription service to reduce the costs of sending remittances, guaranteeing the best conversion rate in the market. Second, an e-Wallet to manage remittances in highly inflationary countries. Lastly, multiple “Paytech” payment technologies that allow recipients of remittances to transact comfortably.
AURA PAY adds value to society with tangible solutions, joining the epic of solving current global problems.
(F): What do you think could be the impact of digital platforms on the FinTech industry?
(JJGM): The penetration of Smartphones and the Internet throughout the world have made it possible for people to make any transaction with one hand, instantly. This milestone has changed the way of understanding any operation. Digital businesses promise better functionalities in exchange for lower costs, hand in hand with this, digital companies have a much faster reaction capacity, which allows us to adapt to market changes more fluidly, this without a doubt it is a competitive advantage, which facilitates the impact in any sector.
(F): Is the AURA PAY interested in associating with large companies in the sector? How do you think Finnovating can help you with this goal?
(JJGM): The association with the direct and indirect FinTech ecosystem is fundamental for us, we understand that we are stronger working as a team. Currently there are highly competent providers that add vital value to our FinTech, that is the magic of Open Banking. Through Finnovating we have contacted our most important suppliers today, in addition, that the same platform is designed to generate synergies and productive contacts throughout the world. We have allies and suppliers in Europe, South America and North America thanks to being active in Finnovating.
(F): What do you think are the secret ingredients of Finnovating that make it a unique platform?
(JJGM): Actively connecting the global FinTech ecosystem, with quality players, but without a doubt, the real secret of Finnovating is its human team.
Sign up for the global FinTech platform today… and get 15 free days of premium! Think no more!
interview with the CEO & Founder at AURA PAY Jesús Javier Guevara Monjes, interview with the CEO & Founder at AURA PAY Jesús Javier Guevara Monjes, interview with the CEO & Founder at AURA PAY Jesús Javier Guevara Monjes