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4 FinTechs revolutionising the financial services sector in Greece

By Joy Dumasia

June 01, 2022

  • API Banking
  • Core Processors
  • Europe

FinTechFinTech 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 digitalized 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.

The following are 4 FinTechs revolutionising the financial services sector in Greece:

  • Natech                                               

Natech is a European FinTech that for nearly 20 years has been providing robust banking technology and services to local, national and multinational banks, payment providers and challengers the world over. 

Having offices in Greece and Germany and partners in multiple countries, it serves high-profile clients in more than 40 countries. Natech is annually ranked among the 34 largest vendors of integrated banking systems worldwide while holding international certifications in data security. Natech now employs more than 50 people, number that has grown by more than 100% in the last 3 years. The team consists of experienced engineers, business analysts, banking experts and business executives.

Viva Wallet is the first Pan-European entirely cloud-based Neobank providing localised payment and credit services to businesses across 24 European countries. Created to change the way businesses pay and get paid, Viva Wallet offers businesses of all sizes card payment acceptance 24 payment methods using Card-Present or Card-not-Present technology, along with business accounts with local IBAN and debit card issuing. Viva Wallet grants merchants the ability to earn back their acceptance fees to 0% on card transactions.

For e-commerce payments, Viva Wallet provides an innovative one-line-of-code-integration Smart Checkout, which adapts dynamically to cardholders’ locality and preferences, and vastly improves conversion rates. Viva Wallet also has developed partner plugins with some of the world’s most popular e-commerce platforms in the market, making checkout integration seamless in seconds.

Using artificial Intelligence and machine learning, Wysely analyses financial behaviour to evaluate an individual’s creditworthiness so that lenders make better and faster decisions while borrowers get faster and fairer answers. Wysely combines data science and machine learning techniques to reveal transactional insights and help institutions learning the customers more. 

  • Plum              

Established in 2016 and based in London and Athens, Greece, 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 into the user’s spending and investment for a real return.

IBS Intelligence reported that Plum, Europe’s money management app, has successfully raised $24 million from a Series A funding round that will help propel the company’s expansion into Europe and grow its product offerings. The FinTech’s first close of funding, announced in October, raised $14 million and saw notable investment from investors, including dmg ventures, Ventura Capital, Global Brain, Venture Friends and 500 Startups.

ALSO READ: Global FinTech Use Cases Report 2021

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