3 Greek FinTech companies revolutionising the financial space

By Megha Bhattacharya

The Greek FinTech industry has seen significant growth trends in recent years. A 2018 monthly report from the Bank of Greece stated that “if the value of transactions through fintech approaches the European average, it will add 0.6 percent to Greece’s gross domestic product”. Additionally, if the Greek fintech industry becomes a leader for Southeast Europe, Greek GDP could increase by 1.8%.

Check out these three Greek companies revolutinising the FinTech space –

1. Profile Software

Founded in 1990 in Greece, Profile Software offers banking and investment management solutions. It is a specialised software solutions provider with offices in key financial centres and a presence in 40 countries across Europe, the Middle East, Asia, Africa and Americas delivering solutions to investment management and banking industries.

Recently, global trade finance solutions Surecomp announced that it will be partnering with Profile Software for offering a comprehensive response to the rising demand for trade finance digitization solutions and services in Greece and southeastern Europe.

Profile Software also recently announced the launch of its Axia Suite. The solution leverages onboarding functionality and a digital client portal for addressing the increasing market needs in wealth, asset and fund management. Axia is the company’s omnichannel investment management platform.

2. Plum

Established in 2016 and based in London and Athens, Plum provides AI assistant for facilitating money management, It analyses incomings and outgoings and automatically sets small safe amounts of money aside for the users. It also provides insights on the user’s spending, investment for a real return.

Recently, money management app Plum announced the availability of free Interest Accounts or ‘Interest Pockets’ for its customers in a bid to offer an automated way for saving money in an interest-bearing account. The company is currently offering a rate of 0.35% Annual Equivalent Rate (AER) for anyone who opens an Easy Access Interest Pocket. This comes as an addition to the Easy Access Interest Pocket with 0.55% AER which is already available for Plum Plus (£1 p/m) and Plum Pro (£2.99 p/m) subscribers.

Plum, last year, also announced an investment of €2.7 million for funding its growth and expansion across Europe. The funding round was joined by investors including EBRB, VentureFriends and the CEO of LendInvest, Christian Faes.

3. Natech

Natech is an European banking software vendor that designs, develops and supports a full-fledged portfolio covering every aspect of financial systems needs in the EMEA region. The company offers integrated IT solutions to banks, microfinance institutions, money exchange, financial services providers and vertical enterprises.

Recently, Turkish bank Ziraat Bank went live on Natech Core Banking CSB2 and Poseidon AML flagship systems in its Greek branches. The successful switch enables Ziraat Bank to revamp operational effectiveness and scale-up rapidly through enriched offerings and new digital services across market. The bank operates up-to-date 24/7 systems, reducing IT costs and operational complexity.

ALSO, READ: Open Banking Roadmap for Mid-sized banks in Europe by IBS Intelligence