Empowering Businesses with a Liberated Digital Banking System through Remote Operations: Insights from Georgy Babilashvili

Image commercially licensed from: https://unsplash.com/photos/a-woman-sitting-on-a-chair-using-a-laptop-computer-CeHxrMp4DRQ
Image commercially licensed from: https://unsplash.com/photos/a-woman-sitting-on-a-chair-using-a-laptop-computer-CeHxrMp4DRQ

The financial sector, a linchpin in global economies, directs capital flow, facilitates transactions, and steers investments. However, a notable deficiency endures: a substantial portion of the world’s businesses continues to be underbanked.

As businesses inherently demand adaptable financial structures to navigate market shifts, the banking sector’s incapacity to meet these dynamic needs is emerging as a significant bottleneck. This is the problem which a fintech startup Silverbird aims to address, by fostering freedom in global trade and promoting financial inclusion for small businesses.

What’s noteworthy is that this thriving startup, currently catering to over 1,000 global merchants, was originally established as a remote company. Silverbird co-founder, Georgy Babilashvili, shares his insights into the ongoing journey of freeing up the digital banking system while efficiently managing the company in a remote setting.

Using remote technology-driven solutions to make digital banking universally accessible

Founded by the visionary Max Faldin and co-founded by Georgy Babilashvili, a driving force behind building a robust compliance team, the startup distinguishes itself with its revolutionary approach to financial services.

As Babilashvili points out, many businesses face a significant challenge where traditional banks demand physical visits to a local branch, as well as an excessive number of documents, diverting their focus from core business activities. Silverbird team excels in verifying client activity remotely through independent sources and by leveraging the power of Machine Learning and Artificial Intelligence tools.

In their recent network expansion, Silverbird forged a partnership with Resistant AI — a potent tool specializing in identifying forged documents. This collaboration substantially elevates Siverbird’s remote risk profiling capabilities, erecting a robust barrier that effectively blocks bad actors from passing compliance checks.

Advantages of remote leadership and operations

Empowering Businesses with a Liberated Digital Banking System through Remote Operations: Insights from Georgy Babilashvili
Photo Credited to Georgy Babilashvili

Additionally, Babilashvili says that remote working has given  the company an opportunity to benefit from high-caliber talent at lower-cost locations. He further adds: “I worked with remote teams long before pandemic started. Like with any approach there are advantages and challenges. And at the same time, there are ways to overcome the challenges.”

According to him, the solitude that often comes with remote work has led many individuals to assume greater responsibility and demonstrate a remarkable level of self-drive. While this may not be universal, those predisposed to working independently, possessing ample experience, and showcasing initiative early on contribute significantly to a company’s success. This newfound sense of responsibility can lead to heightened productivity and innovation.

By recognizing and harnessing the benefits of remote work, companies stand to win not only in terms of talent acquisition but also in fostering a culture of self-motivation and accountability. As we navigate the evolving landscape of work, the flexibility offered by remote arrangements continues to be a powerful magnet for attracting top talent and cultivating a workforce driven by initiative and responsibility.

Challenges of remote leadership and operations

At the same time, Babilashvili highlights that there are still team members who need more guidance, and remote work can be a challenge for them, especially for more junior people. To overcome this challenge, you need to set clear expectations and communicate more regularly, checking progress and providing guidance. Junior teams would still benefit from systematic interaction, even in an in-office work environment.

Babilashvili says: “It is not a secret that many interesting ideas come from a small, spontaneous chat or drafting something together on a board. With remote work, it might be a bit difficult. What to do? If circumstances allow, organize regular in-person meetings anyway — for example, at least once a week for people working in the same town, or monthly/quarterly for those working in different countries. We encourage everyone to come to the office on Wednesdays — to mix, chat, and draw something on a board. It really helps find new ideas.”

He continues: “Losing a sense of common culture, attachment to the team, and bonding can be a challenge. Again, ensure that you communicate with the team regularly, provide regular updates to the team on operational results, and progress across different projects. And don’t forget to celebrate successes. Going out from time to time all together, giving a shout-out to a team that has done great, or just the occasional thumbs up in a chat — all these things help.”

As leaders, we face a choice: whether to adhere to outdated traditional procedures and operations or embrace the modern approach of managing operations remotely, acknowledging all associated challenges and overcoming them through trial and error. The choice seems quite clear to digital technology leader Georgy Babilashvili, who believes that remote operations may act as a catalyst for liberating the digital banking system.


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