Top 5 FinTech partnerships in July of the European region

By Joy Dumasia

Financial technology (FinTech) is a term used to describe financial services which are predominantly technology-driven or applying technology to improve financial services. With the revolution of the internet and heavy penetration of smartphones, access to technology has become highly affordable, further boosting the growth of FinTech, which has grown explosively.

FinTech partnerships are not the answer to every bank’s challenges. Partnering is only really required in areas where the banks existing core can’t deliver on the growth and transformation objectives. There are clear benefits for banks to partner with FinTechs and technology partners to drive revenue growth or cost improvements – they can access opportunities for earnings growth more quickly, cheaply and with fewer risks.

Some of the Top 5 FinTech partnerships in July could be seen here:

• Credit Suisse and KLARA

As part of the cooperation between Credit Suisse and KLARA, a subsidiary of Swiss Post, private clients can now also benefit from open banking services for the first time. Remote clients can make payments directly from their Credit Suisse account using the new ePost app from KLARA.

To pay invoices directly and without a separate login procedure, private clients of Credit Suisse can now link their accounts to the ePost app with a one-time opt-in process that allows them to initiate digital payments directly. KLARA’s ePost app communicates with the online banking system of Credit Suisse based on the secure, standardized bLink interface; this simplifies payment transactions for private clients.

• Banking Circle and SIA

Banking Circle, the Payments Bank for the new economy, has selected SIA, a leading European hi-tech company in payment services and infrastructures, controlled by CDP Equity, to launch its new instant payments service in Europe TARGET Instant Payment Settlement (TIPS) service of the Eurosystem.

The partnership with SIA also allows Banking Circle customers to benefit from the concession granted by the European Central Bank to SIA and Colt as Network Service Providers for ESMIG (Eurosystem Single Market Infrastructure Gateway). The high-speed, secure and low-latency network infrastructure SIAnet is specially designed to meet the specific requirements of instant payments regarding security, reliability, and performance. It represents a single access channel to the leading national and international payment platforms.

• 21Shares and Comdirect

21Shares AG, the pioneering issuer of crypto Exchange Traded Products (ETPs), announced an exclusive partnership with the most prominent German online retail platform, comdirect effective July 13th. In this innovative partnership, 21Shares was retained as the sole provider of physically-backed crypto ETPs to the online broker’s savings plan program.

Eleven of 21Shares’s ETP offerings currently listed in Germany are available on the comdirect platform at zero commissions. Now, comdirect provides more than 2.9m customers with innovative, intelligent products and services so that they can carry out their banking and securities trading transactions quickly and conveniently. The FinTech partnership marks a first for investors opting to add crypto assets into their savings accounts.

• Exberry and Arcadier

Exberry, the marketplace and exchange technology pioneer, has partnered with Arcadier, the world’s fastest-growing marketplace builder company, to provide technology for the next generation of marketplaces.

The Exberry/Arcadier technology partnership will enable Arcadier’s marketplace operators to offer an online, innovative trading experience to their sellers and buyers for enhanced price discovery – creating a new, customer-focused buying experience. Meanwhile, the FinTech, Exberry clients will utilize Arcadier’s marketplace infrastructure and technology to create a fully functioning, customizable marketplace according to their requirements.

• Kalaxis and NeoXam

Kalaxis, a consulting company specializing in helping financial institutions reduce their market data costs, and NeoXam, a financial software editor serving over 170 financial institutions, collaborated to combine their knowledge and capabilities to deliver both consultancy and new software modules to support data cost optimization.

Kalaxis and NeoXam will partner to offer the proven rationalization review to identify all potential savings, delivered in a report with supportive and detailed metrics. These FinTech findings can then be provided and managed over the long term, with the non-intrusive implementation of the optimization and monitoring modules.

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