Tinkering with electronics at a young age, it is no wonder Prakash started Onelyst, a fintech company.
What’s your story?
Being a tinkerer of electronics and toys from a young age, I loved creating new products just for the fun of it. I fell in love with programming whilst at university and I’m not at all surprised that software is eating the world now. My current startup is Onelyst focuses on developing products and services for the 300 million underbanked in southeast Asia. I am responsible for everything tech related, building the best user experience for our customers and using the latest machine learning algorithms to build credit scoring technologies.
What excites you most about your industry?
Fintech has gained a lot of media publicity recently and for good reason. The current financial system has many areas which could be be improved and startups like Onelyst are doing just that.
What’s your connection to Asia?
Born in India and brought up in Singapore, I’m amazed at how technology has accelerated growth in both countries. Having travelled extensively throughout southeast Asia, I love the richness of Asian culture and the friendly people.
Favourite city in Asia for business and why?
Singapore for sure. The ease of setting up a business, clear legal structures and the amazing eco system. The fintech festival which drew top talent from around the world is testament to that.
What’s the best piece of advice you ever received?
“We’re so busy watching out for what’s just ahead of us that we don’t take time to enjoy where we are.” Calvin and Hobbes.
Who inspires you?
Richard Feynman. The quirky, Nobel Prize winning physicist who is the epitome of curiosity and enjoys whatever he pursues. Other than being a world famous scientist he was an avid bongo drums player, painter and prankster.
What have you just learnt recently that blew you away?
While reading the book “Sapiens” by Yuval Harari, one of the main differences between homosapiens and other species is our ability to imagine and conjure entities which are non tangible. Examples of imaginary concepts are government, law, money and morality. These concepts have allowed thousands of us to co-operate and innovate like no other species. I loved how he went back to our origins to rethink how society functions today.
If you had your time again, what would you do differently?
It would definitely be to have started a digital business earlier.
How do you unwind?
Meditating for 15 mins every night before I sleep. It has transformed me, giving clearer thought and overall wellness.
Favourite Asian destination for relaxation? Why?
Chiang Mai in Thailand. With its great year round weather, beautiful nature which is a 5 min drive away and oh so amazing food. It’s a great place to unwind.
Everyone in business should read this book:
Zero to One by Peter Thiel
Shameless plug for your business:
Onelyst is a fintech company focused on serving the underbanked with highly user friendly services and innovative technology. Onelyst works with established financial institutions to allow customers to compare personal loan offers.
Our latest product, Rely.sg offers simple installments for ecommerce purchases.
How can people connect with you?
LinkedIn : https://sg.linkedin.com/in/rajaprakash
Email : [email protected]
This interview was part of the Callum Connect’s column found on The Asian Entrepreneur:
Callum Laing invests and buys small businesses in a range of industries around Asia. He has previously started, built and sold half a dozen businesses and is the founder & owner of Fitness-Buffet a company delivering employee wellness solutions in 12 countries. He is a Director of, amongst others, Key Person of Influence. A 40 week training program for business owners and executives.
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