The FinTech companies to watch out for in Europe

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.

The term FinTech refers to the synergy between finance and technology, which is used to enhance business operations and deliver 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.

Poland is at the forefront of technological advancement in Europe in implementing modern payment and banking solutions, such as contactless payments, bank-branded pay-by-link payments, or sector-wide solutions such as the BLIK mobile payment service. The popularity of mobile and e-banking and contactless payments is driven by technological diffusion and customers’ openness to innovation, and the high dynamics of the development of Polish transactional banking systems.

The following are The FinTech companies to watch out for in Europe:

• Nethone

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.

A Know Your Users (KYU) company allows merchants worldwide to better serve their clients and prevent online fraud. Nethone uses cutting‑edge Machine Learning technology to detect & avoid card‑not‑present fraud and account takeover. Nethone protects online merchants from card‑not‑present fraud, provide them with recommendations supported by a long list of arguments to optimize their business decisions.

Recently, 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.

• CashDirector

CashDirector application is based on A.I. accounting robot technology, allowing business transactions & bank operations to be booked in real-time. CashDirector helps SMEs manage cash flow and payments directly from their online bank accounts, thus creating a long-term relationship with the bank and building their loyalty.

This AI-enabled, based on a real-time accounting platform directly accessible within online banking, automates daily financial tasks, helps manage day-to-day cash flow and provides easy access to financing when needed.

CashDirector books transactions in real-time plans cash flow help in invoicing, collecting money, registering expenses (photo, OCR), paying bills, planning daily cash flow, avoiding cash shortages, accessing financing for SMEs.

• Synerise

FinTech was founded in 2013 in Krakow, with offices in Poland and departments worldwide, Synerise is an award-winning ecosystem. They invest offensively into intellectual property focus on evolving technology, equipping new generations with knowledge.

Synerise team consequently brings technology change to the business world, and instead of following known paths, they are creating a new one, a next-generation, fully personalized and AI-driven customer experience. Our tool is an all-in-one, ever-evolving data platform, enhanced by A.I. to accelerate your company’s growth and designed to generate outstanding ROI.

• Creamfinance

Consumer finance services provider Creamfinance LLC was founded in 2012 in Latvia and has experienced instant growth since. The mission of Creamfinance is to make money available; this is done by providing consumer loans online conveniently and speedily.

Utilizing advanced algorithms and machine-learning capabilities to quickly evaluate and score, Creamfinance offers a highly customized approach to the personal loan process and aims to become a one-click loans provider to consumers globally. National platforms are operated by an international team of over 300 employees from 15 countries, working to improve services across operating markets both within and outside of Europe.

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