
Fairo
Mobile banking for European freelancers
Becoming a freelancer can be quite tempting. At the same time, it comes with a lot of disadvantages and responsibilities that are not so appealing: billing, taxes, accounting. All of this needs to be done right and on time. That's why Creative Dock, in cooperation with Raiffeisen Bank International, created a digital banking platform tailored specifically to freelancers’ financial needs.
introduction
Creative Dock has been an important partner for Raiffeisen Bank International's innovation projects since 2019.
In the same year, the Fairo project was launched in response to RBI's desire to expand its presence in the SME segment, especially among freelancers – a fast-growing market that RBI had difficulties attracting with its existing products.
Our main contribution
A big advantage for users is that Fairo was designed by freelancers who know what it's like to freak out about tax penalties. Many freelancers admit that their least favorite parts of the job include financial administration, dealing with authorities, and keeping track of legislative changes.
What know-how did we use?
About
Freelancers are more satisfied with their lifestyle, according to Payoneer’s 2020 Freelancer Income Report.
Compared to employees, freelancers believe they are more in charge of their success and that their position provides more opportunities for upward mobility. They even claim to feel overall healthier and happier, according to Payoneer’s 2020 Freelancer Income Report. On the other hand, they are worried about income instability and putting enough money into savings, they tend to be confused about where and how to pay taxes, and struggle with jumping between different business software and apps.