Interview with Pari Cross
Anastasija from Revpanda talked with The Kingdom Bank CEO-Pari Cross about offshore banking, financial stability, and the challenges within the iGaming industry. Gain insights into these vital financial topics in this informative discussion with a seasoned expert.
The Kingdom Bank is an award-winning international fintech bank based in the Commonwealth of Dominica.
The Kingdom Bank proudly offers personalized, secure, next-generation digital banking services and alternative payment options to international customers from around the globe. The Kingdom Bank provides corporate and correspondent banking services, competitive FX rates and liquidity services, and payments in local currencies in over 80 countries.</br>
<p>The Kingdom Bank delivers lower-cost and faster cross-border trade by challenging traditional payment methods, enabling you to send and receive compatible crypto-currency payments to other businesses to make effortless B2B, B2C, SEPA, or SWIFT payments from wherever you are.</br>
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Can you please tell us where your journey in your current role began?
My journey in fintech started about 15 years ago when I joined one of the start-ups in London called ePayments. Ever since then, I’ve loved being part of fintech due to the fact that it is such a vibrant yet challenging industry and never a boring, stale experience. It certainly keeps you on your toes!
How do you envision your company's future in five years? Are there specific goals and plans for this period?
The Kingdom Bank would like to change the perception of offshore banking within Europe and other regions. We have a strategic plan in place with The Kingdom Bank to become one of the most respected brands in fintech banking while offering real time payments globally for corporations and their end users.
With your background in banking and finance, could you share your perspective on the intersection between the iGaming industry and banking? Are there any specific challenges or opportunities you see in cooperation with iGaming companies?
The Kingdom Bank understands very well the financial needs of iGaming companies and relationships between banking institutions. The Kingdom Bank can help create safer online gambling environments for players while helping operators meet their regulatory obligations by meeting their safeguarding requirements in a more efficient and targeted way. The Kingdom Bank enables operators to register end users and verify their identity. We also allow operators to provide comprehensive and accurate information for compliance and due diligence checks.
How do you make decisions on important strategic matters? Do you have a specific method or decision-making process?
I do have a decision making process: I clearly identify objectives and then evaluate by considering long or short-term impacts before involving stakeholders to make the final decision.
Integrity, responsibility, discipline, and teamwork. I am always trying to master these key attributes in order to enhance my productivity, foster a positive work environment, and contribute to the success of The Kingdom Bank as an organization.
What events organized by AceAlliance have stood out the most or proved most useful for your company?
We have attended several events during iGB in Amsterdam in the past to grow our network and increase brand awareness, which resulted in positive outcomes for us to consider more future events.
What personal and professional values guide you in your role as CEO, and how do they influence your company's business decisions?
As I have been appointed very recently as CEO of The Kingdom Bank, I have a very clear vision for the future, and I am planning to proceed with precise communication to empower the development of future products. I hope to do this with great empathy and humility, hoping to gain respect and continue further with passionate commitment to my team as a leader.
If you could exchange places with a well-known entrepreneur or leader for one day, who would it be, and what would you do?
Margaret Thatcher! She was the first and longest-serving British female prime minister. Thatcher is the leader who faced Britain when it had high unemployment and recession; she created economic policies to reverse the high inflation. The Iron Lady is admired across the world; not many can say that! If I had a day with her, I think we would cook lunch together, chat about female leadership, and how to stay productive while sipping on a glass of sparkling wine.
What initiatives or ideas do you consider most promising for your company and our collaboration?
I am a true salesperson at heart, so the answer will be partnership opportunities while supporting each other’s business needs. I would like The Kingdom Bank to be considered the most reputable and reliable banking partner within the iGaming industry.
What measures does your bank take to maintain financial stability and manage risks?
The Kingdom Bank has multiple strategies in place to manage financial stability and risks by identifying, monitoring, and taking actions to remove or reduce them. However, we aim to have a financial system that has sufficient resilience to facilitate global payment services and to offer safe and secure banking infrastructure to maintain financial stability.
What is your perspective on the future of digital currencies and their impact on traditional banking services?
The dizzying rise of Bitcoin and other cryptocurrencies has created new challenges for governments and central banks. Cryptocurrencies have also given rise to a new set of challenges for governments to contend with, including concerns over criminal activity, environmental harms, and consumer protection. Many governments have taken a hands-off approach to crypto, but its rapid ascent and evolution, coupled with the rise of DeFi, have forced regulators to begin crafting rules for the emerging sector. Regulations vary widely around the world, with some governments embracing cryptocurrencies and others banning them outright. The challenge for regulators, experts say, is to develop rules that limit traditional financial risks without stifling innovation. So, we will continue to innovate, but with a secure approach to meet regulatory requirements.
How does The Kingdom Bank stay abreast of emerging trends and innovations in both the iGaming and banking sectors to provide cutting-edge financial solutions to your clients?
I must say that The Kingdom Bank embraces challenges and opportunities, so emerging trends and innovations in the iGaming and banking sectors keep you alive to stay competitive. We have several projects that will add tremendous value to the services we offer in iGaming and other sectors.
If you could offer one piece of advice to your younger self when you were just starting your career, what would it be, and why?
Do not hesitate to move forward and be confident! Confidence opens new doors, while hesitation closes them.
Balancing a demanding role as a CEO with personal life can be challenging. How do you manage your work-life balance, and do you have any tips for aspiring leaders in this regard?
Yes, it’s very challenging, but I am very lucky to have the support of my family, who is understanding and supportive in every way. Knowing that makes me perform and meet the demands of the CEO role very efficiently. The tips I can share are to have the best partner you can find and be disciplined. Do not forget to enjoy your life too!
Can you share a significant life experience or moment that has had a profound impact on your leadership journey and the way you approach your responsibilities at The Kingdom Bank?
I’ve had multiple life experiences and worked with some great, inspiring leaders who have taught me to become resilient and learn from my mistakes, but always keep moving forward and look for positivity in everything. Assuming they’ve had the best training and are given the correct tools, the best leaders have always had the ability to empower their colleagues. In my experience, this leads to delivering the best results with a motivated, dedicated, and cohesive team, all working toward the same goal. My hard working, efficient colleagues are my best asset!
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