How they describe themselves: Starting in 2014. Provider of the first mobile money wallet of an Icelandic bank – Islandsbanki. Developed an IP and knowledge of money sharing, events platforms, social networks and customers’ behaviour in mobile payments. Helping banks create and maintain a deep relationship with their consumer and acquire new ones as well.
How they describe their product/innovation: The next generation of mobile money application are those that are built around the consumer’s financial lives. Much of their financial life is shared,with others and takes place on Facebook and Whatsapp rather than in any bank’s app. We are building a platform to allow banks to understand the context and relevancy of reaching into these interactions both pulling and pushing personal data as it applies to social payments. We believe that technology/regulation are coming of age in FinTech and it’s do or die time for many financial institutions. The future belongs to those who build relationships that surprise and delight and are intensely integrated into the consumer’s social life.
Product distribution strategy: Direct to Business (B2B), through financial institutions, through other fintech companies and platforms