What Is the Background of SpaceVault’s Top Management?
The SpaceVault management team, in alignment with our innovative FinTech & Space business model, consists of seasoned entrepreneurs with successful startup exits, financial technologists, and space industry professionals. In addition to a management team with 50+ years collective experience in management, finance and engineering, the team includes industry leaders with 100+ years experience in banking, accounting and space. More info on our team: http://www.spacevault.world/about
What Is SpaceVault’s Core Product or Service?
Spacevault™ is the world's first bank account to enable anyone to securely and conservatively save, invest, earn financial rewards, and at the same time support the emerging commercial Space industry. Think of us as an all-digital, modern version of a co-operative bank, whose purpose is to leverage consumer banking savings and deposit accounts to provide a dedicated channel for debt and equity capital to the emerging commercial Space industry. We are leveraging 10+ years of technology and regulatory advancements in financial technology (FinTech) and services to offer a “purposeful” banking product that appeals to Space professionals, enthusiasts and Millennials that want to see their personal banking assets do more good for humanity’s future.
What Is SpaceVault’s Unique Proposition to Their Market Sector?
For banking customers, the proposition is: conduct your banking, just as you would, online, securely, with deposit insurance, no-risk, conservative earned interest, and asset liquidity, but at the same time support the growing commercial Space industry with loans and investments from your assets. In addition to purely financial and “altruism” benefits, a SpaceVault account offers our customers the ability, as stakeholders, to vote on where we appropriate our profits – akin to a credit union or co-op bank – thus adding even more financial and sustainable value to the Space industry.
For the Space industry, i.e. the financial benefactors of the SpaceVault business model, the proposition is: dedicated channel for debt financing, with competitive interest rates, better chances of loan approval, and more flexible payment terms, AND the profits earned from the interest they pay will be reinvested back into Space ventures and technology, thus creating a “positive feedback loop” of Space-industry dedicated capital and benefit.
How Does SpaceVault Disrupt the Competitive Environment of Its Market with Its Product/Service?
We actually don’t use the word “Disrupt” much to describe our anticipated effect on mainstream financial services – we prefer “transform”. Our mission is to use existing banking norms, regulations and infrastructure, in conjunction with FinTech advancements, to “repurpose” capital for longer-term, more sustainable, and more ethical economic growth.
What Are SpaceVault’s Growth Objectives over the next 5 Years?
After we launch in the in US in 2017, our plan is to leverage our scalable FinTech platform to partner with 2 or more mainstream banks, expand into the UK and EU, and reach 1M+ bank accounts with >$1B in assets under management.
What Competitive Changes Does SpaceVault Envisage Within Key Markets over the next 5 Years?
In the banking and financial services industry in general, we foresee the commoditization (i.e. “normalization”) of UI/UX, AI and robo-advisory FinTech advancements, and a market pull, specifically from Millennial customers, towards transformation of financial services in the context of personal values, environmental responsibility, sustainability, and ethics. Moreover, the blockchain will be a transformational tool when it comes to financial services efficiency and cost reductions, asset creation and management, financial transparency, and enforcement of accountability.
In the commercial Space industry, we anticipate that near-term commercial activities in-orbit and on the Moon’s surface, along with renewed US government interest on returning and setting up a permanent outpost on the Moon, will become pillars of growth for both legacy, ongoing and new/innovative business models for beyond Earth Orbit activities.