4 significant FinTech companies based in Ireland

By Joy Dumasia

Ireland is increasingly considered a European FinTech hotspot with a deep pool of local expertise. The Irish FinTech ecosystem comprises every area of technology and innovation in the financial services arena, from payments, trading, and FX, big data, risk, compliance, and business intelligence to consumer-focused currency exchanges and peer-to-peer lenders. 

In particular, according to Statista, the market’s largest segment will be Neobanking with a total transaction value of $32.00bn in 2022 and expected to show a revenue growth of 50.4% in 2023.

The following are 4 significant FinTech companies based in Ireland:

• Fenergo

Fenergo is the provider of digital solutions for client lifecycle management (CLM) and digital transformation for financial institutions. Its software digitally transforms and streamlines end-to-end CLM processes – from regulatory onboarding, data integration, client and counterparty data management, client lifecycle reviews and remediation, all the way to client offboarding. Headquartered in Dublin, Ireland, Fenergo has offices in North America, the UK, Poland, Spain, South Africa, Asia Pacific, and the UAE.

IBS Intelligence also reported that Fenergo, a provider of digital Customer Knowledge (KYC) and Customer Lifecycle Management (CLM) solutions, launched its services in Mexico to offer solutions that address the increase in money laundering cases, greater oversight by regulatory authorities and over-reliance on manual processes that institutions have.

• Scalapay

Scalapay is an innovative payment method which allows a customer to defer a payment through three interest-free instalments. The buy now pay later service is available in over five thousand physical stores and in the e-stores of more than three thousand brands.

Recently, IBS Intelligence reported that Scalapay, Europe’s leading Buy Now Pay Later provider, and Twig, the next generation of banking and Web3 green payment infrastructure, announced an exclusive partnership. This partnership will allow customers to resell products purchased via Scalapay and get paid instantly by Twig.

• ID-Pal

ID-Pal enables businesses to verify the identity of customers in real-time simply, securely and conveniently. Available off-the-shelf or as an API/SDK, ID-Pal uses advanced mobile technologies to reduce the cost and risk associated with customer onboarding whilst removing friction from the user experience. It’s easier, cheaper, faster and more reliable than either manual processing or building a custom solution.

IBS Intelligence reported that ID-Pal, the identity verification provider, has been appointed by the payment solution provider, Lerex Technology, to help with its growing identity verification, e-verification, Anti-Money Laundering (AML) and Know your Customer (KYC) requirements. Through its partnership, ID-Pal will support Lerex Technology with AML compliance and the onboarding of new customers across multiple European markets.

• CR2

CR2 is a leading vendor within the Digital Banking Platform market, with a market leadership position in Africa. The company provides banks with Digital, Self-Service and Payments solutions to grow their business, optimise their customer service cost and deliver an enhanced customer experience. Headquartered in Ireland, is enabling over 100 banks in 60 countries seamlessly connect and engage with their customers on the most critical banking channels.

Recently, IBS Intelligence reported that CR2 had been selected by Mosul Bank to accelerate its digital banking transformation strategy in the Iraqi market.

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