GlobalFintechSeries Interview with David Neveceral, CEO & Co-founder at Spendee

Don’t stop working and education yourself even though times are rough says David Neveceral of Spendee is this latest interview. Catch the complete story here to know about the inspiration behind this platform and what the future for personal finance apps to set to look like.


Can you tell us a little about yourself David? How did the idea behind Spendee first come about and since its inception – what have been some of your biggest highlights/challenges?

As a kid my favorite classes were Mathematics and Computer Science and later Accounting, Economics and Statistics, so I believe that this passion for numbers and data formed me into a founder of fintech app pretty naturally. Also, my previous startup was a fintech service for end users that got later acquired by a traditional bank. All of my projects are constantly challenged, but I don’t mind that. It’s a sign of going forward and I hope my biggest highlight is still in front of me.

How do you see emerging tech play a key role in how newer fintech innovations are built/developed, especially personal finance apps?

People nowadays want an easy solution and easy-to-use apps for everything, finance included. It’s a developing trend which can’t be overlooked. Product developers and all team members must always put the user into the center of how they build the product and how they think about it. For us, it means that whichever devices and technologies are being used by the user, we must focus on how to make our personal finance app useful and convenient on all of those particular devices and follow new tech which can affect us in the future.

Read More: GlobalFintechSeries Interview with Erick Pinos, Ecosystem Lead at Ontology

Personal finance apps are much in use by a certain generation – how do you see the impact/growth and demand for personal finance apps evolve in future? What are some of the top features that newer/upcoming fintech apps will need to have in order to enable better finance management?

I believe that the essential need for having your finances in order will not change, unless at some point in the far future, we, as a humankind, would become a money-less society. Keeping money in order gives your mind one less thing to stress about, and for some people it’s even satisfying to look at all the personalized graphs.

What will change for sure are the ways how money is being spend, how the payments are done, where the deposits are being held and by who or if the users are prepared to receive advice and insights based solely on data. Those are the fundamental questions that we keep asking at Spendee.

Can you also share your thoughts on other technologies or tools for generations other than millennials in the marketplace that are game changers when it comes to enabling better financial management?

Older generation, my parents including, are not really willing to let “some app” advise them. For them it is more about just getting the picture, but to analyze the data and build some recommendations, that is much more difficult to accept. Also, with day-to-day payments, lots of older people still use cash and this habit is only fading slowly. At least that’s the experience in western/central Europe where we’re based. On the other hand, younger generation, growing out in these times, they are used to having their pocket money stored in a bank or some challenger bank services and pay with their phone or an app. This trend will definitely continue with more cash-less or even contact-less payments made in months and years to come.

Read More:Ten Global Payment Apps That Are Transforming Instant Payments

What are some of the top in-demand features that users should look when identifying a solution that can help protect their finance data and transactions?

I believe that they should look on how much is the app able and willing to personalize not only the content, but also the form. How the information is being served depending on the user. Also, they should, at least in the EU, focus on only using apps that hold proper PSD2 license to be able to get to the data and store them in proper manner.

What are some of your thoughts on how the current world situation will impact the use of (and development) of the fintech segment?

We could observe the shift in activities to online environment for years already, even before this pandemic situation. Understandably, with everything that is happening right now I believe that this will rapidly speed up. There was a significant “push” waiting to happen, and unfortunately it was the pandemic.

After a while, it is going to be the “new normal” not to go your bank but have a video chat with your banker when you really need to see them. But also, that would soon become rare, as more and more problems will be able to be solved online or through a mobile app. Fintech companies can help accelerate these changes by providing solutions to traditional banks and other corporations willing to change.

Tag (mention/write about) the one person in the fintech industry whose answers to these questions you would love to read!

Taavet Hinrikus and Kristo Kaarman, founders of TransferWise, I like that service because they have a great solution, very useful and easy to use and yet they are not trying to just build the “super-cool media-loving” brand and increase the valuation, they build the product on really strong foundations.

Read More: Ever Wondered How FinTech Is Changing Everyday Life?

Your favorite FinanceTech  quote

Definitely the one by Bill Gates – Banking is necessary. Banks are not.

Would you like to share specific finance or business tips for Marketing and Sales teams struggling through this uncertain time?

My biggest tip is not to stop working and educating yourself even though the times are tough. After work, I like to inspire myself reading interviews with other entrepreneurs and gaining perspective on what measures they took to handle this situation as best as they could.

GlobalFintechSeries Interview with David Neveceral

Spendee helps you to get your finances into the shape so that you don’t need to stress about every dollar that you spend
David Neveceral is the CEO & Co-founder at Spendee

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