Company Manifesto

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Aleph provides Payroll solutions to international companies that employ foreign and unbanked workers.

Why Aleph Exists:

Aleph connects with unbanked, companies that hire unbanked and foreign employees is required to provide them with a secure and easy way to receive payroll and access to cross-border payment services. Aleph provides those essential services to the unbanked worker and helps companies performance and stability.

  • Our immediate mission: Accelerate Deployment Velocity of our software and services to businesses that hiring unbanked employees. By doing that we are taking over a nitch, in a 2 billion unbanked population market.
  • Our long-term vision: Unlock massive value through software. Aleph will provide the unbanked population easy and secure access to their primary financial services, Aleph heart is the financial data, In the future, Aleph will analyze the financial data, create an internal credit score that will use to underwrite and offer the users an additional, more sophisticated financial services.

Alpeh Unique insight:

By using software and integrations with regulated partners, Aleph can provide payment Solutions without regulation to companies Worldwide and allow any company/employee in the world to open an account with linked MasterCard in five minutes, and the ability to perform cross-border payments that are secured by MasterCard. By avoiding regulation and licensing, Aleph can focus on scaling fast and responsibly.

There are two aspects of innovation in what we do:

On the tech side –  By integrating with  Mastercard Issuer in the US and Mexico, we can overcome the main two challenges that Fintech companies are facing today:

Regulation – our clients deposit money directly to MC in the US, and then the money is deposited to the cards of the unbanked workers.This way we are only used as the platform that provided the technology and customer support services. At the end of the day, it’s our brand that is in the front, and the user is communicating directly with Aleph.and because we don’t touch the money we are not exposed to the regulation. The T&C agreement specifies that Aleph only used as the technology platform while MasterCard charges the fees.
Capital for Liquidity – since the money is with Mastercard, the settlement is done via MasterCard instantly and doesn’t require Aleph to hold capital for liquidity.
After working in Fintech for the past three years, It was highly important for me to solve both challenges, the regulation, so Aleph can scale up fast and the liquidity, because I saw that in previous startup we needed $250K liquidity for every 1000 users, that’s the reason that Fintech companies need to raise lots of money to operate, and its a huge barrier to scaling and growing.

Software makes human lives better in very tangible ways. Not just in FinTech and not just a bit better, but a lot better:

  • Software makes human lives better.
  • Software unlocks massive enterprise value for companies that know how to deeply leverage it.
  • The software is now defining a company’s competitiveness and relevance.

More examples:

  • Automobiles: The car has been around for over 100 years. But each year, 1.25 million people die in car accidents — that’s a human life every 25 seconds. In the past few years, the software has started driving cars, and they are literally orders of magnitude safer than human-driven cars. It’s likely that future generations will find it incomprehensible that humans used to slaughter each other on roadways when software can do the job so much better. Additionally, software-first companies like Uber, Lyft, Turo, and Getaround are re-defining the very essence of car ownership by turning cars into an on-demand commodity.
  • Retail: The customer relationship is being wrestled away from brick & mortar retailers by software-first platforms. Shopping via Instacart, Google Shopping Express, or Amazon renders the retailers solely as distribution centers to fulfill the user’s software experience. The convenience afforded by having goods and groceries show up at a consumer’s front door is hard to beat.
  • Hospitality: Airbnb and other software-first hospitality companies are competing in hospitality in entirely new ways. They don’t have the burden of owning and managing real estate, or the complexities (nor overhead) of the staff required to run these properties. Airbnb now has 36% more room listings than the largest hotel chain — without owning a single hotel room.

The examples of software-first companies re-defining entire industries (and competing in new ones) are becoming obvious, and yet it’s just beginning. A recent New York Times article describes “The Decline of the Baronial C.E.O.” — how companies like General Electric and Whole Foods are facing activist boards that are becoming impatient as these companies try to adjust to a software-first world.

This seismic shift is being driven by technology, and specifically, by a company’s ability to re-tool its core business to leverage the additional value that can be unlocked by delivering software. This chart shows the general trend since the Industrial Age — private companies making human life better through the output of goods and services. Things like railroads, the automobile, the airplane, container ships, refrigeration, home appliances, etc.:

But in the past decade, software-first companies have shown that it’s possible to unlock orders of magnitude more value via software-first approaches, across industries.

Extreme software competency is one of the reasons Tesla’s market cap rivals Ford & GMs, even though it produces 1/100th as many vehicles. It’s also what’s driving Amazon to purchase Whole Foods. Amazon will unlock additional value in the grocery industry by applying software to the vertical.

Why Is This Sea Change Happening Now?

In the past, companies did not need a strong core competency in software to thrive. In the year 2000, the average cost of running a top web property was $150,000 per month. Outsourced technology teams and slow release cycles were driven by a focus on minimizing costs.

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By 2016, that cost had dropped to $1,500/month. This 100x drop has lowered the barriers to entry, ushering in an age where anyone with an idea and the ability to write software can harness technology to solve not just business problems, but more broadly, human problems.

The software is becoming the competitive differentiator for companies that want to thrive and unlock shareholder value over the next decade. But the very first step a company must take in its journey to become software-first — or at least competent in software — is to be able to deploy that software to its users continuously, in the background. The best boardroom strategy becomes useless talk and no action without becoming world class at this first baby step. The leading software-first companies deploy software to their users multiple times per day, continuously in the background like running water. In contrast, the average low-performing large enterprise deploys software just once every other month, and each deployment is an ‘all hands on deck’ event fraught with the peril of breaking SLAs and customer trust with every deployment. The contrast between the best performers and the average performers is stark– average high performing software-first company releases over 200x as often:

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The rapid release cycles of these high performing companies provide 45x to 208x the learning opportunities of their competitors:

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Companies today ship buggy software that causes downtime breaks customer trust and breaks SLAs. Software deployments are scary for many companies. Their code velocity is painfully slow. They’re facing a new breed of software-first competitors that are playing by different rules and using software to wrestle the customer relationship away. They are having trouble staying (or becoming) compliant in a cloud-first world.

A company is now only as agile as its ability to get its code in front of customers. Gartner recommends companies evolve their software practices to optimize delivery, invest in automation and strive for increased agility.

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Maxims We Live By:

We have three maxims we live by at Aleph. You’ll hear us saying these around the office on a regular basis:

• “Why are we building this? Do we need to build this now?” It’s our goal to build technology that solves meaningful problems for our customers. We have an experimentation culture. We retrospect internally with our Tribe, and even externally with our customers. A key element of our culture is to constantly ask ourselves these two questions. It keeps us focused on delivering value to customers.

• “The Tribe is not built from 9 to 5.” A company’s culture is its operating system. As CEO, one of my four core responsibilities is to ensure the creation of a strong Tribe culture.

• “One hour of talking to customers is worth 8 hours sitting in the office.” We strive to be in front of customers, listening, as often as we can. We put a premium on the learning we can get from customers, and we prioritize that time over being in the office.

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