IDC Financial Insights has this year once again named CREALOGIX in the ranking of the 100 most important fintech companies in the world.
This year marks the 14th time that IDC Financial Insights has analysed the global fintech market. It was on the lookout for the 100 companies that achieved the highest sales worldwide with hardware, software and/or services for financial services providers. With sales growth of almost 30 per cent in the first half of 2016/2017 alone, the chance of CREALOGIX making its way further up the FinTech Rankings in 2017 was good.
Open Banking as a growth engine Thomas Avedik, CEO of the CREALOGIX Group, is delighted that this actually happened: "Our Open Banking strategy, which is based on the Digital Banking Hub, is taking off. This means firstly that we're enabling more and more financial services providers to serve their customers with a broad range of digital services and convenient offers. It also means that we're making it possible for start-ups to realise totally new business models, such as online interest portals for private investors." This has positive effects both on the scope of the digital banking portfolio and on financial figures.
However, being among the most important fintech companies also presents challenges. "The nature of consumer demands with respect to digital banking is changing almost daily," says Thomas Avedik. "What is considered innovative today will be the standard tomorrow. Our goal is to set the standards of tomorrow." With this in mind, CREALOGIX is not only constantly developing its software solutions but is also investing in new technologies.
Artificial intelligence enhances long-term sustainability
The company recently took over artificial intelligence (AI) technology from Koemei. Thomas Avedik: "The intelligent machine learning algorithms enable us to 'translate' audio and video content into text and to analyse it. This will allow us to offer financial services providers totally new possibilities for customer contact and analysis, which lays the groundwork for our presence in the FinTech Rankings in the coming year as well." A summary of the results of the IDC FinTech Rankings is available as a download.