A record amount of money is being invested in the business, partially as a consequence of technological developments, but more importantly as a result of increasing accessibility to mobile devices. Businesses in the financial technology sector have made substantial contributions to this development.
What to expect?
You will find information about the following topics in this article:
- It is possible to obtain a rating of the most successful fintech enterprises in Europe in the form of fintech startups ranking.
- Because of the growing importance of the financial technology industry and the fact that it provides a compelling justification for business innovation,
- A look at the goals of European policy in the field of financial technology, as well as the opportunities are given by new policy initiatives
- How fintech companies are aiding businesses in their efforts to transform their operations to be more digital.
- A brief analysis of the state of the global financial technology industry at the moment.
The most promising fintech companies in Europe!
1. Baningo
Relationships with customers are one of the most important aspects of the banking experience, and lower-cased baningo is a fintech company that is addressing this issue. Vienna-based entrepreneur Maximilian Nedjelik founded the company in 2015, which has its headquarters in the Austrian capital. With its multi-channel technology, the baningo platform allows businesses - mostly banks and insurance companies - to communicate with their customers more easily and effectively than before.
Because of cutting-edge technology and models, clients may easily choose advisers who match their interests, schedule appointments, and complete other duties. Overall, baningo provides customers with a simple, effective, and speedy form of contact. The Sparkasse bank and the AEK bank are only a couple of the well-known clients of this organization.
2. GiniMachine
With the use of Artificial Intelligence and Big Data, GiniMachine is able to develop superior credit scoring algorithms that allow lenders to make decisions faster and with fewer risks than they would otherwise be able to. According to the firm, "artificial intelligence is being used to combat bad credit defaults." Based in Vilnius, Lithuania, and founded by Dmitry Dolgorukov, Ivan Kovalenko, and Yury Zelensky in December 2016, this top fintech business has evolved to become one of the most successful in the country. Dmitry Dolgorukov, Ivan Kovalenko, and Yury Zelensky founded this top fintech firm in December 2016.
A number of credit risk management tools, such as credit, application, and collection scores, are made available through the platform to banks and other financial institutions driven by artificial intelligence. Predictive analytics may also be used in the banking and financial services industries, according to the company. In addition, users do not need to have any prior coding skills in order to do any of these tasks. They simply need to upload their data, and the rest will be handled by artificial intelligence and machine learning.
3. Qover
Brussels-based Qover was founded in 2016 by Jean-Charles Velge and Quentin Colmant in Montreal, Quebec, and is headquartered in the city. Because of its quick expansion, this fintech company has already reached the Series B funding stage, with a total capitalization of around $41.7 million dollars.
A digital insurance solutions business, Qover develops and distributes products in more than 32 European countries, including the United Kingdom, including the United States. A number of well-known businesses, like Revolut, Decathlon, and Deliveroo, have partnered with the firm.
Quotations aside, Qover is a B2B corporation that supports companies in adopting insurance into their operations. Qover may be able to provide these tailored, competitive insurance solutions to its partners within one month of receiving order after getting the order from the customer.
Because the solutions are personalized, they are not restricted to a single sector (such as banking) or even to a specific type of organization (such as manufacturing). Through white labeling or APIs, the specialist insurance technology is made available in real-time, and it is simple to incorporate into existing online platforms and systems.
4. moj-eRaun
For the exchange of electronic accounts, invoices, and other eCommerce documents between suppliers and customers, moj-eRaun ("My-eInvoice") is the most important network in Croatia. This is where the headquarters of the startup, which was founded by Marko Emer in 2013 and maintains its headquarters in Zagreb, Croatia. Using the Moj-eRacun platform, you may complete a comprehensive procedure that includes issuing invoices and eCards, downloading them, doing e-bookkeeping (Moj-DMS), and archiving them in MojArhiv ("MyArchive"), among other things.
The platform automates the process of sending, receiving, and archiving invoices, making it simple, uncomplicated, and time-efficient for all parties involved in the transaction. On the other hand, moj-eRaun was given a Premium Green Certificate in 2021 in appreciation of their achievements in the field of digitization and sustainability.
5. Spendee
Spendee, a project by David Neveceral, Jakub Sechter, Jan Castek, and Miroslav Chmelka, among others, hails from the beautiful city of Prague. It is the work of David Neveceral, Jakub Sechter, Jan Castek, and Miroslav Chmelka. Though just a year old, the Spendee app, the company's primary product, has already been downloaded an incredible 2,500,000 times in 170 countries by April of this year, with GooglePlay predicting that downloads will reach 1 million or more by 2022.
Individuals who are diligent about their finances and want total access to their budget at all times, as well as those who are regularly bewildered at the end of the month, wondering whether there is a leak in their bank account, stand to benefit from Spendee's services.
The application primarily functions as a budgeting tool for those that utilize it. Aside from that, it helps you keep track of your financial activities while providing quick overviews. It also supports you in making a smart budget to save up for large-ticket items while also helping you figure out where all of your money has gone. It is possible to link the software to your bank accounts, electronic wallets, and crypto-wallets in order to have your balance automatically updated on a regular basis.
Of course, if you like, you can also manually input your cash transactions if you choose. You can also receive personalized budget advice that is tailored to your spending habits, depending on the type of plan you're on (free or premium). Isn't that something to think about?
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