Money Buzz! Europa

Category: Technology

  • TBI Bank becomes the first bank in SE Europe to launch SEPA Instant

    TBI Bank becomes the first bank in SE Europe to launch SEPA Instant

    • TBI Bank becomes the first bank in Southeast Europe to launch SEPA Instant, a real time payments scheme.
    • The service is offered via Bank of Lithuania and provides customers with the opportunity to send and receive up to 15 000 EUR within seconds inside the European Union and EU Economic area – and that 24/7.

    Initially the solution, part of TBI Bank’s Banking-as-a-Service (BaaS) strategy, will be available for business partners, starting with 4Finance, one of Europe’s largest digital consumer lending groups, operating in 13 countries.

    “TBI Bank’s team is excited to be trusted as Bank of Lithuania’s first foreign partner for the implementation of the SEPA Instant scheme. This is a move of major importance for us – it proves that our investments in cutting-edge digital solutions are beneficial for our business partners and customers. Our clients will have a déjà vu: the new service will remind them of the switch from dial-up internet to broadband”, says Petr Baron, CEO of TBIF (TBI Bank).

    SEPA Instant will complement TBI Bank’s award-winning Payment Hub – a BaaS-solution currently offering euro transactions to 4finance customers and allowing them to receive the approved loans in real time.

  • Coniq raises £6.4 million to accelerate business growth

    Coniq raises £6.4 million to accelerate business growth

    Coniq announced it has secured £6.4 million of growth equity to meet the growing demand for its award-winning CRM and loyalty platform used by the world’s leading shopping malls, outlets and brands.

    The round was led by Guinness Asset Management with Maven Capital Partners, and participation from existing investors Venrex Investment Management. High profile angel investors, including Greg Marsh the founder of OneFineStay, also invested as part of this round.

    Coniq’s iQ Platform simplifies launching shopper engagement

    Coniq’s market-leading iQ Platform radically simplifies launching shopper engagement and loyalty programmes. This enables marketers to effectively and quickly increase sales by leveraging proprietary customer loyalty data, to understand and anticipate the purchasing behaviour and intent of shoppers. 

    Coniq powers over £1 billion of sales annually for its customers, with more than 17 million consumers in 24 countries globally relying on the Coniq iQ Platform to benefit from rewards and experiences from retail destination landlords and their tenants.

    Coniq’s technology helps its clients to build rich relationships with their customers, delivering an average increase in sales per customer by 32%.

    Coniq will use the investment to accelerate its technical development, including additional AI-driven product capabilities to automate customer loyalty activities; hiring marketing, sales and client success professionals, and expand internationally with new offices in Chicago, Warsaw and Barcelona.

    The fast-growing global customer loyalty management market is expected to be worth $7 billion by 2023 and is driven by retailer destinations seeking to win and retain customers. 

  • Romanian startup EmailTree AI provides customer service solution for Orange Luxembourg

    Romanian startup EmailTree AI provides customer service solution for Orange Luxembourg

    • EmailTree AI, a Romanian startup born one year ago, closes deal with Orange Luxembourg, as first contract;
    • The revolutionary solution provided by EmailTree AI dramatically decrease the resolution time per email (on average with 60%), using hyper automation;
    • The solution can be successfully used in Romanian and all the European languages by e-commerce platforms, customer relationship services providers and support teams.

    The Romanian startup EmailTree AI, founded in January 2019, with offices in Sibiu, Timisoara and Luxembourg, started providing a customer service solution based on Artificial Intelligence for Orange Luxembourg.

    The algorithm reads the emails (or any kind of text requests), processes the information to understand the different situations and issues, and prepares optimal and quick replies suggestions. Requests and exchanges are classified by tasks types.

    Replies suggestions are automatically proposed and the different teams (customer service and support) choose the suitable ones. Step by step, every action and reply are a resource to learn using the supervised and unsupervised machine learning processes.

    Orange is committed to use this service to reduce the load on the customer service teams, to increase the productivity when managing text requests and also customer satisfaction.

    On its turn, EmailTree AI will deploy at large-scale its advanced technologies, will improve its existing various features and develop new ones, thus proving the efficacy into an international telecom group.

    ”As a startup, the partnership with Orange Luxembourg was the ideal launchpad. The adoption process can succeed only when pioneers meet and build together what we call the perfect mix between humans and AI tools. All this for the benefit of our respective customers. And this is only the first step” stated Casius MOREA, EmailTree’s CEO.

  • 24-7 Intouch announces expansion into Athens, Greece

    24-7 Intouch announces expansion into Athens, Greece

    24-7 Intouch will open an campus in Athens, Greece. This will be the first location in Europe and 18th campus internationally for the Winnipeg-based global customer care and technology company, which currently operates in the United States, Canada, Guatemala, Colombia, Jamaica and the Philippines.

    The 50,000+ square foot campus will be home to some of the most recognized brands in the world.

    “Our global footprint, including expanding into Europe for the first time, is intentional and allows us to move quickly and anticipate future growth of our client partners,” said Greg Fettes, Co-Founder & CEO of 24-7 Intouch. “Greece has a thriving BPO industry, and we look forward to bringing over 600 jobs, innovative customer care solutions, and our unique culture to the Athens area.”

    Why 24-7 Intouch choose Athens

    Athens is one of the biggest economic centers in southeastern Europe and is home to a young and educated workforce. Greece holds the second global position in skilled labor, with a large population of bilingual residents.

    Not only are English and French widely spoken across Athens, this expansion will also allow 24-7 Intouch to enhance their language capabilities to include German, Latin, Italian, Eastern European, and Middle Eastern languages.

    “Our approach to global growth is driven through regional and local evaluations,” said Mitul Kotecha, President of 24-7 Intouch. “Athens is a perfect fit for us from a service culture and community perspective, and we are excited to create new partnerships in the European market.”

    The Athens campus is set to open in early 2020.

  • Urbanista, record year in 2019 with e-commerce growing over 1 000%

    Urbanista, record year in 2019 with e-commerce growing over 1 000%

    Urbanista experienced growth from all sales channels in 2019 where e-commerce particularly stuck out with more than 1.000 percent growth from direct website sales following a focused and aggressive strategy.

    The growth both online and offline was made possible due to a strong portfolio of products, especially within the true wireless headphone segment, where the brand launched three products during 2019.

    Counterpoint Research expects the true wireless headphone market to grow by 80% CAGR for 2019-2022 and Urbanista is well positioned to be on that curve.

    “We have managed to significantly grow every year since STRAX acquired the brand in 2014, however, it feels like 2019 was the year when it all came together with relevant and timely product launches followed by success in both online and offline sales channels.” says Gudmundur Palmason, CEO, STRAX AB.

    What is Urbanista

    Urbanista make audio products rooted in Scandinavian design. The products are inspired by cities, freedom and with the urban lifestyle in mind.

    Urbanista is available online as well as in 20, 000 stores and 80 countries around the world. 

  • UnionPay International expands acceptance footprint in the Balkans

    UnionPay International expands acceptance footprint in the Balkans

    UnionPay International announced that it has cooperated with Privredna Banka Zagreb (PBZ), the largest acquirer in Croatia, to enable local merchants to accept UnionPay cards.

    Meanwhile, UPI partners with ISPBIH to enable all the Bank’s ATMs to accept UnionPay cards. With these partnerships, UnionPay’s acceptance scope in Central and Eastern Europe countries—the Balkans in particular— continues to expand.

    UnionPay for Chinese tourists in Europe

    The 2019 ”Chinese Outbound Travel Consumption Report” shows that Chinese tourists traveled to over 150 countries and regions in 2019, and many emerging travel destinations along the Belt and Road are becoming their new favorites.

    In answer to this, UPI continues to improve its global acceptance network. In Europe, UnionPay is accepted at over 4.15 million merchants across 90% of the countries in the region, including 400,000 merchants across 13 countries in Central and Eastern Europe and 150,000 merchants in 5 North Europe countries.

    Recently, about 50,000 POS terminals in the Baltic states have started accepting UnionPay cards too.

    UnionPay, accepted in Croatia since 2015

    In 2019, the Chinese tourists visiting Croatia and Bosnia and Herzegovina are growing rapidly, and China has become one of the most important international tourist source countries of the two.

    In 2015, UPI reached collaboration with PBZ to realize the acceptance of UnionPay cards in Croatia for the first time. Recently, the two parties deepen collaboration to enable all the POS terminals of PBZ to accept UnionPay cards. These POS terminals are located in many F&B, accommodation, retail, and car rental merchants, and popular merchants include MULLER and Hertz.

    UnionPay was accepted in Bosnia and Herzegovina for the first time early this year. Currently, there are about 2,000 merchants accepting UnionPay. The new cooperation between UPI and ISPBIH will enable more ATMs to accept UnionPay cards, bringing greater payment ease to cardholders visiting the country.

    What is UnionPay International

    UnionPay International (UPI) is a subsidiary of China UnionPay and focuses on international business.

    In partnership with more than 2,000 institutions worldwide, UnionPay International has extended its card acceptance to 177 countries and regions globally with issuance in 58 countries and regions.

  • Vasco Electronics will launch a translator with a built-in SIM Card

    Vasco Electronics will launch a translator with a built-in SIM Card

    Vasco Electronics announces the launch of the Vasco Translator. The official event will be at CES 2020 in Las Vegas, on Jan 7th.

    The Translator includes a built-in SIM Card with free, unlimited and lifetime Internet access for translations in more than 150 countries. It gives the freedom to translate 50+ languages without hunting for wifi or connecting via a phone that might incur excessive roaming charges.

    The priority objective for the new Vasco Translator was: intuitiveness, speed of response, and ease of use. It facilitates communications and eliminates the language barrier, even for those who are averse to modern electronic devices with thousands of functions.

    The device uses a best-in-class noise reduction microphone to eliminate unwanted background noises by up to 99%. The design combines the best translation engine technology on servers located strategically in Europe, Asia, and North America. It always connects to the nearest server, which significantly increases the speed of translation.

    The translator was designed with style in mind and comes in many vibrant colours.

    Vasco uses Ivona speech synthesizers to deliver the best pronunciation on the market, with a perfect accent for each language. The result is translations of better quality than those from free applications. This accuracy is vital since one wrongly translated word can completely change the meaning of the whole sentence.

  • Evolution of the Romanian tech startups ecosystem in 2019

    Evolution of the Romanian tech startups ecosystem in 2019

    After years of constant growth, 2019 set a new milestone in the development of the Romanian tech startups ecosystem. It is growing up and attracting investor’s interest, Money Buzz! learned from EY ”Venture Capital and startups in Romania” report.

    ”Funding of Romanian startups became more sustainable and diversified. The pipeline of the local and international ventures is no longer driven by a few small-sizedcompanies in e-commerce and marketplaces, rather it shows a balanced mix of innovative ideas in FinTech, Biometrics, Blockchain, Robotic Process Automation and HR related solutions. Bucharest is the main hub in Romania, driven by its strong digital workforce and diversity”, the report shows.

    Funding is driven by international investors

    Top funding is driven by international investors with only a few local Romanian funds able to participate in Series A+ rounds. Among the local VC funds investing in the ecosystem, we increasingly see more international players scouting the Romanian tech market for investments opportunities.

    In terms of M&A, corporates remain the most relevant exit channel for startups founders and their VC investors. Romanian ventures are sold in rather early stages, whereby the buyers’ headquarters are outside Romania. Besides the missing experience of an international IPO, the local stock exchange market has never been seen as a relevant exit channel for the Romanian tech startups, despite favorable macroeconomic conditions.

    Empowered by the success of UiPath, the first Romanian unicorn, the local tech startups ecosystem is experiencing a radical transformation. We see double-digit growth in the ecosystem indicators: number of startups, new accelerators, capital raising rounds, total funding amount.

    Half of the investment rounds in 2019 are between $100k and $2m. UiPath accounts for 92.5% of total funding

    Source: EY ”Venture Capital and startups in Romania” report.
  • Fibank launched the first open banking platform in Bulgaria

    Fibank launched the first open banking platform in Bulgaria

    First Investment Bank (Fibank) customers will be the first to benefit from the advantages of open banking, developed in compliance with the Payment services (PSD2)  Directive which came into force in September 2019.

    Users may now add their accounts in other banks to the My Fibank mobile app.

    Through My Fibank for Android OS, soon to be followed by iOS and the Internet banking, Fibank customers can perform the following transactions with their accounts in other banks:

    • Add accounts from other banks;
    • Check account balances;
    • Make money transfers;
    • Receive account statements from other banks.

    Accounts from other banks can only be added when these banks are technically prepared and meet all regulatory standards and requirements. Currently, the new functionality allows adding accounts from one other bank operating on the Bulgarian market and subsequently the scope of the service will be expanded. The new functionalities are only available to individuals.

  • Toucan Toco raises €12 million from Balderton Capital

    Toucan Toco raises €12 million from Balderton Capital

    Toucan Toco, a French data storytelling solution, created five years ago by Kilian Bazin, Charles Miglietti, Baptiste Jourdan and David Nowinsky, has completed its first-ever fundraise of 12 million euros. The new funding will enable Toucan Toco to enter a new phase of growth and conquer new markets.

    Toucan Toco offers a unique data storytelling solution which helps organisations provide actionable insights to non-technical business users, including CxOs, HR directors, financial managers and operational staff, such as those at Renault-Nissan, which uses the technology across its 5000 car dealerships.

    Toucan Toco’s platform provides simple-to-use and easily accessible mobile apps with a strong UX design, which helps large companies reach high end-user adoption rates of up to 90%. With a drag-and-drop interface and pre-formatted data visualization templates, which can be easily connected to multiple data sources, Toucan Toco can be implemented rapidly, and as it does not require learning a new language, the solution can be used by everyone, not just specialists.

    Accelerating Toucan Toco’s growth in Europe and the United States

    The Toucan Toco’s technology is being used by over 120 customers, including more than 50% of CAC 40 enterprises in France and household names such as l’Oréal, BNP Paribas and Sodexo. President Emmanuel Macron and his ministers also chose the solution to track the progress of his reforms.

    Already present in four European countries and the United States, Toucan Toco now plans to accelerate the distribution of its technology, particularly on the other side of the Atlantic. Over the next year, the company will aim to double its team in the United States.

    CEO Charles Miglietti will also relocate to Boston, while at the same time, a new country manager will be appointed in the Netherlands to create a structure similar to the Paris office.

  • DRIVE secures funding from Swiss private equity investor

    DRIVE secures funding from Swiss private equity investor

    DRIVE Software Solutions (DRIVE) has secured funding from Swiss investment firm VIVA Investment Partners (VIP) to accelerate its global growth in the consolidating digital fleet management market.  

    Based in Stevenage UK, DRIVE is the company behind ODO, the leading software as a service (SaaS) product that manages the administration, service delivery and compliance of customer vehicle assets through one secure, organised application.

    The ODO platform runs on Oracle Cloud and is deployed in either an App, Tablet or PC form. It enables SME businesses to transform their purchasing and control all vehicle asset-related services in an ordered service usage model. 

    VIVA Investment Partners, with a focus on the transportation and mobility sectors including aviation, spacetech and the automotive ecosystems, considers digital services as an integral part of the future of the car industry.  

    To oversee the company’s global expansion, Alastair Houston has been appointed as the new CEO of DRIVE. Alastair brings more than 30 years’ experience in the automotive sector, most recently as Managing Director of Sandicliffe Motor Contracts and as a board member at Northgate. He has extensive management experience and has consistently executed profitable sales growth.  

    Commenting on VIP’s investment in DRIVE, Houston said: “The automotive sector is going through unprecedented change, resulting from the fragmentation within the marketplace. ODO is a brilliant and simple solution to seamlessly connect fleet providers, services and end users. We have a unique product and are thrilled to now have the financial strength and expertise that VIVA Investment Partners brings to the business. Securing this expansion funding from a sophisticated international investor despite the uncertainties around Brexit is a significant milestone.”   

  • British Gas: “OK Google, tell me how to fix my boiler”

    British Gas: “OK Google, tell me how to fix my boiler”

    British Gas has used its knowledge of UK boilers and expertly trained engineers to develop a voice activated troubleshooting service with Google Assistant. The service is available via the Google Assistant app on a smart phone, Google home or Google Nest device.  

    British Gas Boiler Support helps solve the most common heating and hot water issues by giving clear and practical directions. It is available at any time and for anyone – not just British Gas customers – experiencing a boiler breakdown this winter.

    British Gas receives around 1.3 million boiler breakdown call outs each winter and estimates that many of these issues could be resolved using the service – saving time and money with no need to call an engineer. It will only guide consumers through safe and easy to perform instructions that won’t damage the boiler.

    Jay Slaney, technical support engineer at British Gas said: “This service solves many of the common, but fixable, problems our engineers encounter all the time while visiting customer homes. We’ve used their knowledge, combined with the latest voice-recognition technology, to quickly narrow down any issue with your heating or hot water.“

    If you live in UK and think there’s a problem with your boiler, you simply say to your Google Home or Google Nest device (or to the open Google Assistant app on your smartphone): “Ok Google, talk to Boiler Support”. The system will then help you troubleshoot the issue.