5 FinTech companies of Europe to watch out for in 2022
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 A.I. and machine learning and will make FinTech products an integral part of our digitalized life.
FinTech refers to the synergy between finance and technology, which enhances business operations and delivers financial services. FinTech can take the form of software, a service, or a business that provides technologically advanced ways to make financial processes more efficient by disrupting traditional methods.
FinTechs 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 5 FinTech companies of Europe to watch out for in 2022:
Founded in 2005, Stockholm-based Klarna is a FinTech that provides interest-free payment solutions for consumers buying from online retail shops. The Company has since evolved and is providing payment solutions. Klarna is known for its disruption in the ‘buy now pay later’ market; it regards itself as a healthier, simpler and smarter alternative to credit cards.
Recently, IBS Intelligence reported that Klarna, the global retail bank, payments and shopping service with 90 million users globally, officially launched in Ireland, empowering Irish consumers with a better shopping experience and greater control, transparency and choice over how they pay.
Founders Max and Valentin started N26 in 2013 to set new standards in an industry that’s remained institutional and dysfunctional for many years. Their vision was to transform the way money is managed with the latest technology and the best minds from around the globe to change banking for the better.
IBS Intelligence reported that N26 announced the launch of N26 Insurance in a bid to offer its customer the option to purchase coverage, manage plans and initiate claims for a range of insurance within the app.
Nethone is a fraud protection company committed to solving fraud and reducing unnecessary friction by better understanding online users. They were founded in 2016 within Daftcode’s ecosystem, one of the quickly‑moving venture builders in Central and Eastern Europe, by a team of tech enthusiasts with top‑class data science, security, engineering, and business skills.
IBS Intelligence reported that Nethone, which has raised $6.7 million in the capital, notes that its passive behavioural biometrics enables online or digital businesses to prevent more than 95% of account takeovers (ATO) – cyber threats or attacks been spreading across the globe at an alarming rate.
In 2015, Revolut launched in the U.K., offering money transfer and exchange. Today, customers worldwide use dozens of Revolut’s innovative products to make more than 100 million transactions a month. Revolut announced that it had raised just under $800m in a Series E round and would use the money to fuel expansion into the U.S. and India.
Recently, IBS Intelligence reported that Revolut, the UK-head-quartered financial super-app valued at $33 billion in September 2021, announced the appointment of Juan Miguel Guerra as its CEO in Mexico, following the launch of its US-Mexico remittance corridor in July 2021.
Worldline is a global leader in secure payments and trusted transactions. They are at the forefront of the digital revolution that shapes new ways of paying, living, doing business and building relationships that pass on trust along the entire payments value chain, enabling sustainable economic growth. The innovative solutions, rooted in a rock-solid technological base, are environmentally friendly, widely accessible and support social transformation.
IBS Intelligence also reported that Worldline, the European leader in payments and transactional services, publishes its report ‘Navigating Digital Payments’, created by its team of Scientific Community experts. The report outlines Worldline’s vision of how payments may look in 2030, based on analysis and predictions of future payment trends.
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