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Polish Banking Challenge winners announced

10 emerging technology solutions invited to 2019 Open Banking Day

KPMG;

The successful applicants to the Open Banking and PSD2 challenge being hosted by the Polish Banks Association and KPMG Poland have been announced.

These solutions providers, who entered the challenge via KPMG Matchi, have been selected to attend the 2019 Open Banking Day based on their responses to the challenge problem statements.

The Open Day will take place on 7 March in Warsaw, and the tech companies will have the opportunity to present their solutions to decision-makers from Polish banks and insurance companies in one-on-one sessions, as well as enjoying exclusive access to a workshop the day before the event, at which KPMG Poland will present an overview of the Polish banking and insurance ecosystem.


This is the second Open Banking Day to be held by KPMG Poland and the Polish Banks Association. Based on the success of the 2018 event, which saw more than 100 directors and C-level executives in attendance from leading regional banks and insurance companies, the 2019 event aims to build on the foundations of last year’s challenge in paving the way for Open Banking and PSD2 in Poland.

The winners are:

    • Salt Edge: a fintech company with offices in Toronto, London and Chisinau. The company was founded in 2013 with the aim to create stable and secure interoperability channels between financial providers and end-consumers, bringing benefits to all the involved parties. It has already implemented the Polish API standards into its technology and is compliant with local regulation, and has 11 Polish banks and 3 100 banks in over 60 countries worldwide.

    • Token: a fintech whose mission is to do for value what the World Wide Web did for information. Token was started to create the world’s first bank-hosted payment system specifically designed for the digital era. It is regulated by the FCA as an authorised TPP to provide PIS and AIS services and its services include PSD2 conformance, connect solutions, and payment solutions. Thus far, it has been engaged by 11 financial institutions to enable PSD2 conformance solutions across Europe.

    • Minna Techonologies: a fintech on a mission to bring power to the modern consumer by partnering up with retail banks to build a new generation of PFM products that allow users to effortlessly improve their financial lives. Minna Technologies’ product will help consumers in the Polish region to manage (cancel and approve) their subscriptions in an easy way. Current clients include Swedbank and Danske Bank.

    • Personetics: a fintech that aims to enable the world’s leading financial institutions to transform the way they engage and serve their customers in the digital era by delivering “self-driving finance™”. Personetics’ solution goal is to generate purposeful everyday banking engagements, simplify day-to-day money management and capture a new generation of digital-native customers, elevate financial awareness and reduce anxiety, and achieve financial wellness goals (saving and investing, reducing debt and controlling spending).

    • Strands Fintech: a global fintech firm with implementations in 36 countries and a major presence in Europe. Its Strands Business Financial Management (BFM) offering is an SME banking solution, which is leveraging open banking beyond bank account aggregation to provide an accurate cash-flow management solution for SMEs through bank partners. Strands serves more than 600 bank implementations with 100 million customers in thirty-six countries, categorising and enriching 94 million banking transactions daily.

    • Safened: a fintech offering deposit diversification and digital onboarding, with over 1 million verifications completed in 2018. The entire verifications process can be completed in under five minutes.

    • Investsuite NV: a European wealthtech company providing B2B investment products as a service. They help financial institutions to retain clients by addressing their rapidly-evolving digital needs and increasing their market position. White-label products include a modular robo-advisory solution and a self-execution trading platform.

    • Know Your Customer: Know Your Customer Ltd automates 90% of compliance routine tasks, helping banks and payments providers to speed up the correct implementation of SCA solutions. The company’s end-to-end approach to KYC compliance enables organisations to centralise the four pillars of KYC lifecycle management within one solution, including document collection, data assessment, on-going monitoring, reporting and analysis.

    • Nordigen Solutions: a fintech on a mission to build a global alternative to traditional credit bureaus. Nordigen assists clients to improve the speed of loan approval; increase total number of loans; decrease default rates and improve customer satisfaction. The company is currently working with 50 lending companies in 14 countries.

    • Nordic API GatewayNordic API Gateway: Nordic API Gateway offers one simple API to access all banks in the Nordic region, both B2C and B2B. It was built on the foundation of Spiir A/S – the most popular money-app in Denmark with more than 250 000 users.

      Congratulations to all these fintechs on being invited to take part in the Polish Open Banking Day! From the team at KPMG Matchi, we wish you well.
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