Ankur Ghosh once navigated the skies as a pilot before seeking a career in asset management, private equity and banking.
His unique background, which includes a family legacy in banking, gives him an unparalleled understanding of the financial services industry.
“Banking was always my thing,” Ghosh tells me. “Especially so after seeing the digital revolution that’s taken hold.”
Ghosh is the founder and CEO of SSV Capital Ltd. Set up in 2020, it has begun to make significant strides in the realm of disruptive technologies, with a particular focus on fintech and 'prop-tech' investment.
Preach what you pray
All of this is being done with sustainability in mind, or as Ghosh says: “preach what you pray”.
So, the “core” of the business model is a commitment to sustainability and its focus on the ‘three Ps’ of people, planet and prosperity.
As part of its journey, SSV Capital is looking to list as a public limited company on secondary and primary markets, of which we will hear more in the near future.
SSV Capital is not a monolithic entity; it operates across three distinct verticals: SSV SmartPay (banking and fintech), SSV Real Estate (prop-tech), and SSV Funds (primarily focusing on the sustainable fintech and prop-tech sectors).
Three verticals
The immediate priorities, as mentioned, are in the fintech and 'prop-tech' sectors.
SSV Real Estate is an investment platform that aims to democratise the way people invest in high-yielding commercial property, offering a range of tools designed to diversify an investor's portfolio, reduce associated risks, and potentially increase earning potential.
However, the innovation that is closer to a soft market launch is SSV SmartPay.
This vertical aims to revolutionise the point-of-sale and online technology landscape on payments.
Shaking up payment tech
According to data from Lloyds Bank, almost 90% of the UK population now employs contactless payments for everyday transactions.
However, what is less known is the merchant service charge, a fee that can range from 0.75% to 3% or more of the transaction size.
“We're pioneering disruptive technology that leverages Open Banking to sidestep the traditional APIs of Visa and MasterCard,” says Ghosh.
“After years of research and development, we've encrypted a payment solution that operates on an Open Banking framework.”
For smaller businesses, transaction fees can be the difference between financial viability and struggle, especially in an era marked by inflation.
QR code revolution?
Ghosh reveals that SmartPay's use of QR codes will reduce these charges by up to 70% (and also bleeds into sustainability as it reduces the need for electronic equipment).
The strategy for scaling SmartPay is both intricate and ambitious. The initial plan is to forge partnerships with existing payment solution providers, thereby serving as a conduit for business development.
This approach allows SmartPay to gain a foothold in a broad array of merchant categories without the necessity of a large, dedicated sales force.
Ghosh outlines the plan to scale up initially to between 6,000 and 8,000 merchants, targeting a 1% share of the UK market.
The longer-term vision is far more ambitious: capturing 5% "and beyond" of the market, which would roughly equate to over 50,000 merchants with an expected revenue growth of “45 times by year five” on a full commercial launch.
Bigger story
And there are wider applications for the tech, beyond point-of-sale.
“We are not only a payment process provider; we are also aiming at potential cross-border payment with a virtual account and wallet services giving the user a unique experience on a one-stop platform,” Ghosh explains.
And, in time, SmartPay may provide a quick, easy, accessible and financially equitable way of paying tax bills or for government services online.
Of course, the company takes pride in its robust security measures, believing that its QR code payment system avoids some of the pitfalls that plague existing point-of-sale systems.
Golden goose
Ghosh describes SmartPay as the near-term "golden goose". However, he is not one to rest on his laurels.
With SSV Real Estate prop-tech platform also in the pipeline, Ghosh believes he will soon have high-flying propositions to offer to investors.
And, in a rapidly evolving technological landscape, SSV Capital stands as a beacon of innovation and equitable financial solutions, Ghosh says.
With a strong focus on sustainability, the company is not merely chasing profits, he notes, it is also “committed to shaping a better, more sustainable future”.
Better tomorrow
“Building a better tomorrow is not just about wealth creation, generation, and distribution,” he explains.
“It's about the holistic impact of our investments on people, planet, and prosperity. Whether it's simple acts like switching off lights and air conditioning to save energy or adopting sustainable technologies, every action contributes to a more sustainable future.
“As a founder and CEO, my responsibility extends beyond generating impactful and meaningful returns for investors. It's about ensuring those returns also positively impact society and Mother Nature.
“This comprehensive approach enhances our mission for building a better tomorrow, not just for our clients but for society at large."