3 FinTech companies based in Croatia

By Joy Dumasia

FinTech refers to software and other modern technologies used by businesses that provide automated and improved financial services. FinTech in our daily life is Mobile Payment apps, Cryptocurrency and Blockchain like Bitcoin and Gemini. In the future, the range of FinTech services is predicted to transform the market even more with AI and machine learning and will make FinTech products an integral part of our digitalised life.

FinTech’s role in society is becoming more vital than ever, mainly due to Covid-19. FinTech can be used anywhere, by anyone meaning it becomes accessible to people who may never have taken advantage of financial services before. Through access to essential financial services such as mobile money and e-wallets, FinTech companies are helping lift people out of poverty and create a more financially inclusive world.

FinTech companies are driving real change for consumers and businesses alike. The unbundling of financial services allows FinTech start-ups and scaleups to provide more efficient and streamlined offerings and disrupt traditional banking, payment, and lending services.

The following are 3 FinTech companies based in Croatia:

• Nous Systems

Founded in 2021, Nous Systems is an European blockchain start-up pioneering the use of non-fungible smart contracts to provide a decentralised network of investors with automated asset management services. Nous Systems is on a mission to build the world’s first decentralised hedge fund – promoting equal access to asset management and breaking down the wealth gap.

IBS Intelligence also reported that Nous Systems announced the successful launch of its decentralised investment platform Nous Fund, which is now live on the Polygon Network. As the world’s first decentralised hedge fund built using blockchain technology, Nous Fund allows investors to mint their non-fungible contracts and participate directly in Nous’ on-chain decentralised asset management vehicle on the Ethereum-based Polygon platform.

• Amodo

Amodo is an insurtech company, Amodo Connected Insurance Platform enables insurance companies to create and brokers to place hyper-personalised usage-based insurance (UBI) products on the market. Amodo clients use its platform to gain strategic insights into customers’ profiles, segment them into relevant groups and acquire profitable ones. Over the past nine years, this European insurtech launched close to 50 Connected Insurance projects worldwide with some companies such as AIG, Porsche Insurance, UNIQA, and many others.

IBS Intelligence also reported that YAS MicroInsurance (YAS), insurance on blockchain frontier, is joining forces with Amodo, a telematics InsurTech company, to deliver autonomous insurance on-chain. This collaboration symbolises the new age of insurance against the backdrop of smart cities.

• Oradian

Oradian is a financial inclusion company serving financial institutions in remote, hard-to-reach communities. Oradian provides a cloud-based toolset that smart financial institutions plug into to access best practices and efficiency. Oradian is headquartered in Zagreb (Croatia) with offices in Lagos (Nigeria) and Manila (Philippines).

Instafin is a cloud-based core banking system that even the smallest financial institutions can afford to use and grows as they grow. Working closely with its partners, Oradian is always improving Instafin to ensure it keeps pace with the customers’ changing needs and priorities.

ALSO READ: Global FinTech Use Cases Report 2021