30 | SME Business Elite Supplement 2020 9 | Q1 2021 Sep20982 Imagining A Fairer Future For All Dozens is the flagship brand of financial company, Project Imagine, designed to create a more equitable financial future for all. The Dozens app has been created with this in mind, giving users a complete picture of their finances that is both easy to use and houses cutting-edge financial products developed to help maximise the potential of their money. We found out more about how PI is changing the financial services sector for the better. Established in 2018, Project Imagine is leading the fintech revolution as a financial company unlike any other. Built on a socially responsible business model, PI is on a mission to create a simpler, more equitable financial future that focuses on customers’ growth. Dozens was launched in 2019 to bridge the gap between two financial needs to achieve this fairer future. The app is the first UK fintech to hold both an E-money and MiFID investment license, allowing Dozens not only to offer a current account with savings tools, but also a range of investments. Dozens is therefore able to guide their customers from spender, to saver, to investor. The app makes money management easier and smarter by capitalising on technology, and also utilises cutting-edge financial products to help customers maximise their money’s potential. This model creates innovative proprietary financial products that make saving and investing more rewarding for the customer, whilst revenue streams from products generate sustainable returns for the business. Therefore, unlike the traditional model used by incumbent banks and new fintechs, Dozens doesn’t monetise customers’ short-term unsecured debt or overdrafts, but uses a model which aligns shareholder interests with customer’s financial wellbeing, so financial growth is mutual. Taking care of consumers, Dozens works in conjunction with PI’s B2B brand, Pi1 to create a self-sustaining business ecosystem. With its many capabilities, Dozens works for all consumers, wherever they are in their financial journey. For spenders, the smart budgeter function helps to manage money better whilst saving rules can be applied to help users save their money. For those starting to build up savings, Dozens can be used to grow money with the listed Dozens Savings Plc 5% p.a. Fixed Interest Bonds. A low-risk product with no lock-in and monthly paid interests, these Bonds give access to higher returns for people who usually can’t reach them. For customers looking to invest, Dozens’ investment shelf houses a selection of themed strategies, so they can invest based on their interests. Adhering to their mission of making finance fairer, when the customer’s portfolio value is below their original investment, Dozens won’t charge a fee. This coincides with PI’s primary mission to bring transparency to the financial services sector, starting with their own practices. Since PI was a small start-up to today, when the London-based team is made up of more than forty professionals with a variety of financial perspectives, every team member is involved and informed about what happens in the firm. All developments are shared across the company, salaries are published internally and discussion is actively encouraged. Every person at PI shares in the company’s successes and failures in equal measure, and the responsibility to keep PI honest, inclusive and successful. Project Imagine was founded by Aritra Chakravarty, a self-termed ‘recovering banker’ who spent thirteen years at HSBC across M&A, Strategy, Private Banking and Digital Wealth Management. Aritra’s experience and passion coexists with the diversity of the team to achieve the success that Project Imagine has seen so far. 70% of the leadership team is female, and over half of the team aren’t from financial backgrounds, which protects PI from industry bias and helps to provide a 360 view of financial circumstances, so Dozens can be sure it’s universally accessible and effective. It is for this reason that PI does not have a regimented recruitment process. Preferring to meet people face-to-face, rather than through CVs ensures that PI can really get to know the potential candidate and what they’re capable of. Moreover, jobs at PI are made to fit people, rather than the other way around, so that the organisation does not miss out on any of the talent that will contribute to making PI as a whole stronger and better. The first few years of PI and Dozens have not always been smooth sailing, as Aritra and his team have been balancing the securing of funding with staying safe and active in the global pandemic. Today, PI is crowdfunding as well as preparing themselves for the exciting release of new features in 2021. With the team’s continued hard work and enthusiasm, there is no doubt that this year will be just as exciting for PI as they have been so far. Contact: Palina Antonava Company: Project Imagine / Dozens Web Address: www.projectimagine.com
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