Business

How Polyteck Ensures That London’s New Buildings Are Desirable (and Stay That Way)

Published

3 years ago

December 23, 2020

Estimated to be roughly 2,000 years old, London is one of the oldest major cities in the world — and as one of the world’s largest financial centers, it continues to grow.

Of course, population growth means that new buildings become a necessity, both for the people who will call London home and the businesses that will employ them. As the home to four World Heritage sites, it is naturally important that new structures reflect the city’s rich heritage and are equally desirable in and of themselves.

To that end, Costas Polycarpou, founder of Polyteck is among those leading the charge to ensure that the city’s future growth continues to build upon its legacy.

Regenerative Development

A primary area of emphasis for Polycarpou is regenerative development — the idea of redeveloping existing spaces and putting in new buildings that better meet the needs of the community.

“There isn’t much undeveloped space left in London,” Polycarpou notes, “and at the same time, there are many structures that are no longer suitable for their intended use. With regenerative development, we can work with local stakeholders to determine the right mix of housing and commercial spaces. A transparent approach with the community and holding ourselves accountable is vital for getting results that will ultimately benefit everyone involved.”

The lack of new space for development has led to dramatic changes in London in recent years — such as a proliferation of skyscrapers better suited to handle growing business needs. Of course, not every old building can be turned into a skyscraper. Careful community involvement becomes a necessity to ensure that the right structures are going into the right areas.

By taking the needs of the local community into account, such development efforts have a true regenerative effect that benefits all stakeholders.

Refurbishing Existing Properties

Creating desirable spaces doesn’t merely happen by replacing older structures. “We have many buildings in London that are absolutely amazing and full of history — but they don’t fully meet the needs of our modern world,” Polycarpou explains.

“Fortunately, it’s not an either/or proposition. We don’t have to tear down these gorgeous structures. Instead, we can restore their most defining features and refurbish them to account for updated electrical support, access control, HVAC, plumbing and more.”

Polycarpou notes that many buildings that fit these needs are still actively being used — an issue that isn’t all that surprising, considering London’s history. Many of the city’s homeowners don’t even know when their house was originally built, sometimes requiring a fair amount of research to find the answer.

Such structures — whether used for business or a personal residence — have likely already had their fair share of upgrades made in the past to account for then-new conveniences. Polyteck’s approach seeks to refurbish these spaces to make room for current tech improvements, while keeping intact the unique historical features that make them so desirable in the first place.

“Refurbishing and restoring a space offers a unique opportunity in the world of construction,” Polycarpou says. “The combination of modern amenities with historic ambiance is something you cannot achieve in many other places outside of London.”

Ongoing Maintenance and Monitoring

Of course, Polycarpou and Polyteck understand that it isn’t enough to construct new buildings. London has stood for generations, and the new buildings that aim to make the city more desirable today must be built to stand the test of time.

While ongoing maintenance is an obvious need for any structure, Polycarpou sees the biggest opportunity in remote monitoring. “With traditional facilities maintenance, you often wouldn’t discover a problem until things got out of hand. Remote monitoring solutions use smart sensors to carefully track any system — HVAC, plumbing and so on. This technology allows us to monitor everything from temperatures and refrigerant pressure to water leaks and energy consumption. Immediate alerts mean a faster response, and more efficient results.”

This is especially important when dealing with older structures, which are more likely to have energy efficiency problems and other maintenance issues.

Active monitoring through internet of things (IoT) devices allows maintenance teams to take on a more proactive role in replacing worn components before they fail completely. Refurbishments and routine maintenance alike can be scheduled based on the insights gained from monitoring to keep everything running smoothly.

Rather than needing to shut down a facility for days or even weeks at a time, this proactive approach ensures more consistent maintenance that decreases building down time while also keeping the structure in pristine condition.

A Bright Future for London

Overall, Polycarpou is optimistic about London’s future.

“The city continues to grow for good reason. We just need to make sure that the buildings that will be welcoming these people to London — regardless of whether they are commercial or residential — are sending the right message. Desirable and durable buildings are ultimately the foundation for a strong city that will continue to grow and flourish.”

While the city certainly poses its fair share of development challenges, it is clear that strong community input and innovative providers that embrace the latest technology will help new structures — and refurbished existing spaces — stand tall for many years to come.

Business

Opportunities for Black Banx in Emerging Markets

Published

3 days ago

May 5, 2024

Matthew Wiles

A significant digital transformation is underway in the world of finance, marked by the emergence of non-bank innovators offering a diverse array of financial technology products and services. This transformation is not confined to established markets; rather, it extends its reach into emerging economies, offering a compelling digital alternative to traditional banking institutions. These alternatives are particularly vital in addressing the issue of financial exclusion, which has left substantial populations underserved by traditional banking systems.

Among these innovative digital banking entities stands Black Banx, a fintech brand dedicated to fostering financial inclusion in emerging markets by seamlessly integrating banking services into digital ecosystems. Founded in 2014 as a visionary concept by German billionaire Michael Gastauer, Black Banx swiftly evolved into a global force in the global financial market Officially launched in 2015, the institution rapidly garnered international recognition, extending its services to 180 countries and territories from its inception. Within a mere 12 months of operation, Black Banx amassed over 1 million customers, marking its initial expansions in key regions such as the United States, United Kingdom, and Hong Kong. At present, with a customer base exceeding 40 million as of February 2024, Black Banx stands as one of the fastest-growing digital banks not only in developed countries but also in emerging markets.

What Are Emerging Markets?

An emerging market mostly describes the economic landscape of a developing nation progressively engaging with global markets during its growth trajectory. These economies possess some but not all of the defining characteristics of developed markets, which typically exhibit robust economic growth, high per capita income, well-established equity and debt markets, foreign investor accessibility, and a reliable regulatory framework, according to Investopedia.

As emerging market economies evolve, they tend to integrate more deeply into the global economy. This integration fosters increased liquidity within local debt and equity markets, heightened trade volume, and augmented foreign direct investment. Moreover, these economies witness the emergence of modern financial and regulatory institutions as they transition from low-income, less developed, often pre-industrial states to modern industrial economies with elevated standards of living.

With improving standards of living, the demand for financial security and opportunities escalates, underscoring the pivotal role of banking services. However, traditional banks face challenges stemming from bureaucratic processes and sometimes limited services. Conversely, fintech firms are gaining prominence owing to their convenience, user-friendly interfaces, and expedited signup procedures. Furthermore, their accessibility anytime and anywhere with internet connectivity enhances their appeal to the public.

Strong Demand for Financial Technology

The surge in digital banking adoption, particularly conspicuous in emerging markets, owes much to innovations originating in these regions. For instance, nearly nine out of ten consumers in the Asia-Pacific region, encompassing both emerging and developed markets, actively utilize digital banking services, with a significant portion expressing openness to expanding their usage through digital channels.

Enthusiastic adoption of fintech tools and e-wallets among consumers in emerging markets has propelled the market penetration of these innovative solutions beyond levels observed in developed markets. In the emerging Asia-Pacific region, the penetration of fintech apps and e-wallets surged to 54 percent in 2021, compared to 43 percent in the developed segment. This is indicative of the accelerating shift towards fintech transactions and services, as per McKinsey & Company.

A portmanteau of finance and technology, fintech refers to the burgeoning industry of companies utilizing computer programs and other technologies to provide support or enable banking and other financial services. In developed nations, there’s been a rapid expansion and adoption of fintech technologies ever since businesses and even governments started accepting digital financial transactions as a standard mode of payment. But even in emerging markets, the demand for fintech has also skyrocketed as more people report a diminishing reliance on cash for weekly expenditures.

Identifying Opportunities in Emerging Markets

Launching a successful digital bank entails navigating a myriad of challenges, irrespective of the market’s maturity. However, digital banking in emerging markets presents its own unique set of hurdles, particularly in securing widespread adoption among mass-market consumers. To thrive in any market landscape, a digital bank must first establish meaningful access to its target customers. While the initial interaction may appear straightforward in the digital realm, the reality proves more nuanced.

The proliferation of digital advertising notwithstanding, capturing customer attention remains a formidable task, compounded by the intricacies of onboarding procedures, even for digitally savvy clients. Moreover, the reliance on app downloads as a precursor to engagement further heightens the barriers to entry as first-time users may find them intimidating.

Building a solid trust relationship with customers is important for digital banks to maximize their opportunities in emerging markets. Trust, arguably the linchpin of sustained usage, demands meticulous investment in creating positive onboarding experiences and fostering comprehension of banking channels and products. However, achieving this trust quotient is not easy, especially in emerging markets with lower access to financial services and digital literacy.

Black Banx’s Success in Emerging Markets

Black Banx is a digital bank focused on empowering financial inclusion in emerging markets by integrating banking into digital ecosystems. It was founded by German billionaire Michael Gastauer who always believed that well-designed financial services have the potential to uplift even the most marginalized segments of society, providing them with enhanced economic opportunities.

Consequently, Black Banx is steadfast in its mission to promote financial inclusion while harnessing the advancements within the fintech landscape. Today’s digital technologies offer unprecedented tools to reconstruct banking paradigms, especially for those underserved by traditional financial institutions, with smartphones and laptops serving as gateways to financial empowerment. But while Black Banx makes use of the most advanced fintech technologies, including blockchain and artificial intelligence, it delivers an intuitive and easy-to-navigate user experience through its website and mobile app so even the inexperienced or less tech-savvy consumers won’t have a hard time using its platform to carry out financial transactions.

With his expertise and decades of experience in the financial industry, Gastauer has a keen eye for trends and what works in different markets. So instead of delivering different experiences for developed and emerging markets, the renowned fintech mogul opted to roll out the same suite of services to both because of his motivation to realize financial inclusion and offer only the best banking experience to all. As such, Black Banx facilitates seamless transitions between physical and digital currencies and even cryptocurrencies. The digital bank also tailors its channels to accommodate customers at various stages of their digital journey, ensuring that they feel guided every step of the way until they achieve their financial goals. All of these contribute to Black Banx’s success in emerging markets.