An Interview with Rajat Shail Kumar from Mowize


Name: Rajat Shail Kumar
(Based in New Delhi, Founding Partner at PCube/Mowize )

I am a chartered accountant by qualification and worked in various multinational and large domestic companies for 16 years In India before starting my own venture in 2016, namely Ernst & Young, KPMG, multibillion groups like Vatika and GEMS Education. I have held the CXO/CEO position over last 5 years of my professional career. I am a firm believer that innovation and entrepreneurship are important growth drivers. With over 16 years of experience in fuelling business growth across large organizations as a result-oriented and decisive leader, I’m passionate about conceptualizing and nurturing promising business ideas into successful ventures.

With this thought, I had founded PCube that is based on three pillars of ‘Protection, Prosperity, and Peace of Mind’ for its customers/stakeholders. I partnered with like-minded professional colleagues and conceptualized & incubated the Idea of providing ‘Digital Personal Finance Management’ services to lower to mid-income earning individuals to ensure they realize the best returns from their savings to fulfill their future dreams/financial commitment. We designed a tool called ‘Mowize’ A virtual Financial Assistant for each individual. The system has the vision to make sure that an Individual manages a full financial universe for him and his family over this platform. This includes planning their financials, Getting unbiased advice on investment & tax matters from experts, invest/renew through the platform, manage their portfolio with very structured E-Locker facility and Collaborate with family in a secure environment on the need to know basis. All this on a click of a button on a single platform

Mowize Company

We had also incubated an Investment Banking arm of PCube, focused on K12 Education, Real Estate and Corporate Finance transactions. With our experience and a strong background as CEO/CFO of large Real Estate and Education business houses, we bring in a huge amount of value for our clients at the preliminary stage itself with right strategy, network and approach to implement the mandated transaction in a highly professional manner

Apart from this I’ve also seed funded and mentored a Business management and Accounting App – Book Keeper focussing on small business with the turnover of less than 1 Million USD, which is a profitable venture successfully running in 19 countries.

As a leader and enabler, I collaborate with key stakeholders and inspire teams to realize the long-term goals and vision of any organization.

How did you come up with the idea of developing Mowize?

In the year 2014, while interacting with a colleague, I heard news about “A finance professional died of a heart attack. He was at a very high post in a software company and he died at the age of 42.”
When such situations occur, The family & spouse of these bread-winners needs financial protection And a lot of times we have a scenario where the dependants are completely oblivious to what the person has invested for them.
That’s when the concept of Mowize comes into the picture – A Digital Collaboration Tool is the ideal solution to this problem, where one can organize and share respective personal financial, investment & insurance details with their family members so that they have real-time access of that information in the event of an unexpected demise.
That’s how we developed a cloud-based Fin-tech platform called ‘Mowize’ (Money wise) for personal finance management available on Web, IOS and Android platform that helps individuals in:

A. Organizing all financial documents by digitizing it and linking it to the financial instrument categorized into Insurance, Investments, Accounts and liabilities with various sub-categories (we are using AWS as a cloud platform)
B. Allows real-time tracking of how investments are performing
C. Allows creation of Eco-system and sharing of these instruments with family members, wealth managers, nominees etc. over the platform with a view or editable rights
D. It facilitates informed and timely decisions with alerts and notification on various financial instruments and we keep independent experts/advisers on Insurance, Mutual funds, Real Estate, and loans who will respond to user queries related to these instruments

Thus Mowize is a multi-channel platform, where we understand every individual’s unique financial space to provide intelligent advice towards financial prosperity. Our algorithms help us with predictive analysis of the financial assets of our clients in different market trends. With regular guidance and suggestions, we provide and create a better and prosperous tomorrow for our clients.
Mowize provides a single platform to organize all investments of an individual with a variety of financial tools and to help them share their important life documents in a secure environment with the people they trust (immediate family members), and provide our clients with real-time tracking on how their assets are performing & evaluate their financial health.
Mowize is a personal finance management tool that assists an individual in realizing their financial goals. It helps them organize their assets and liabilities, track and share their financial information, and make informed financial decisions.

What is the type of users for this App?

Primarily, we have two types of Users.

Domestic Users: These users are in India within the age group of 25 to 60.
Majority of them are married men with or without children or single working women with a family income of 10 Lacs and more.

NRI Users: These users are from countries like the Middle East and some NRIs who are earning and investing in India.

Mowize has the following features which is highly beneficial to individuals all over the world:
Be Organized – a Single platform for accessing all your financial information, with effective financial tools like dashboards and reports.
Real-Time Tracking – Stay informed on how your assets are performing and how they can perform better.
Sharing – With secure cloud storage, share the data with your ecosystem and keep track of the finances.
Smart Directions – Get unbiased financial advice for evaluating financial products that help in wiser decisions to attain financial goals.
Manage Portfolio – With our technology user could easily manage a portfolio of various family members on a click.

What Technological Measures & best practices you follow for Mobile App Security?

With V2 of Mowize comes many stability & performance improvements
– Asset Expiry Alerts
– Reliable rent invoicing
– Consolidated Wealth Reports
– Stability Improvements
– Improvised PDF’s
– Lower data usage
– Reduced app size
– Network improvements
– More security
– More Reliability overall

What are your future plans?

We intend to reach out to masses through this platform in medium to long-term and facilitate long-term objective based investments and protection plans.

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