4 Italian FinTech companies to watch out for in 2021
By Joy Dumasia
FinTech is used to describe new tech that seeks to improve and automate the delivery and use of financial services. At its core, FinTechs are utilized to help companies, business owners, and consumers better manage their financial operations, processes, and lives by utilizing specialized software and algorithms that are used on computers and, increasingly, smartphones.
Investors and FinTech experts are looking at Italian FinTech for its massive growth potential. The Italian FinTech ecosystem has grown from 16 players only in 2011 and more than 300 companies; among all the regions in Italy, Lombardy emerges as a leading region for the number of ventures, with 169 HQ out of the 345. This can be easily explained by an extremely start-up friendly ecosystem, capable of putting together talents, accelerators and funds, by a well-developed financial and insurance district and by a high degree of openness towards the innovation.
The following are the 4 Italian FinTech companies to watch out for in 2021:
Founded in 1990, Objectway is an Italian provider of wealth and investment management software platforms for the financial services industry. They provide omnichannel and Omni-device solutions for the wealth and investment management business.
IBS Intelligence recently reported that digital wealth and asset management software provider, Objectway, announced that it had implemented its client management system at UK wealth manager Brewin Dolphin. Objectway’s Client Lifecycle Management and Onboarding solution aim to enhance client experience and relationships through integrated digital capabilities.
The solution is designed to manage the entire client life cycle, from prospecting through onboarding to ongoing service delivery like suitability reviews and other periodic and ad-hoc events.
Satispay is a bank account enabled mobile payment platform that is independent of debit and credit card networks. The consumer app is available for anybody with a bank account, while online and offline merchants can accept payments using any device and POS.
Recently, IBS Intelligence reported that PPRO had announced an integration with the European mobile payment method Satispay. The FinTech news follows the company’s funding and a milestone valuation of $1 billion. The integration will see PPRO strengthening its payments portfolio in Italy with a full market offering that includes direct integrations to popular local payment methods MyBank, Trustly, Sofort, Paysafecard, and SEPA.
The development is expected to boost PPRO’s customers’ sales, including payment service providers, gateways, banks, and enterprises with payment platforms.
MatiPay is a mobile payment and telemetry system that offers a frictionless user experience providing an immediate connection between the vending machine and the smartphone app connected with a virtual wallet rechargeable via cash dispenser, Credit Card or PayPal.
The Italy-based FinTech MatiPay, founded by Matteo Pertosa, as the supplier states, has developed a new payment system for purchasing services and products online with cash through the network of banknote readers and coin acceptors.
FinTech aims to utilize the funds in accelerating its geographical expansion across Europe, Japan and the USA and enhance its product offering. It is also expected to support the Group is expanding its range of asset management services.
FinecoBank offers single account banking, credit, trading and investment services through its transactional and advisory platform developed with proprietary technologies, combined with financial advisory networks in Italy.
It enables traders with the full power of a trading room with no hidden costs or minimum deposits. The workstation allows real-time prices, advanced charts and professional features to buy and sell securities, currencies and futures across the world’s largest markets.
IBS Intelligence recently reported that FinecoBank, one of Europe’s FinTech banks, has set a new record for revenue growth in 2021, exceeding last year’s record-breaking growth. In the first half of the year, Fineco opened more current accounts in the UK than in the whole of 2020 while improving the penetration of active clients on brokerage, representing more than 70% on new current accounts.
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