The Covid-19 pandemic has been an unprecedented time for many. Despite this, and that many businesses are struggling to get by, the fintech industry has proved itself to be particularly resilient this year, taking advantage of the opportunity to grow and prove itself as a vital sector. In light of this, The Fintech Power50 has conducted a survey of its members earlier in the year asking how their business was fairing during the pandemic to help support a community sentiment.
Meniga’s award-winning products enable financial institutions worldwide to utilise the power of data to drive customer engagement and develop new business models – enriching the customer experience of over 65 million digital banking users across 30 countries. Here Georg Ludviksson, CEO and Co-founder, tells the Power50 about their 2020 experience.
What was the main challenge as a result of the pandemic for your company, and how did you work to overcome this?
A key challenge for us these past months has been to ensure we bring continued support to our banks and their customers. Personal finance management becomes even more important in times of economic turbulence and people are now, perhaps more than ever, relying on their banks to provide guidance. This has meant that the demand for our products and services has skyrocketed, and the banks are in an urgent need to ensure that their customers are provided with nothing but the best in terms of digital banking solutions.
While this has meant a lot of hard work for us it has also been a significant opportunity for us to demonstrate just how much of a valuable partner we can be for banks, during times of crisis and beyond. After all, having founded Meniga in 2009 during the last recession, we definitely have a fair bit of unique experience and expertise that is proving really beneficial at this time.
What measures have you put in place to ensure the safety of your staff?
Since the start of Covid-19, our first priority has always been to protect the health of our staff and like most companies, we have been running our operations remotely for most of this year. We are fortunate in that, with offices across the world, we are already very used to running collaborations and meetings virtually, so the transition to remote working went very smoothly.
For employees in markets where infection rates are low and the local government has relaxed restrictions, such as in Iceland, we are allowing staff that wish to do so, to come back into the office in smaller groups as long as they are social distancing and following health and safety guidelines.
Finally, in terms of the overall wellbeing of our staff, we have introduced more regular check-ins for management to ensure employees have everything they need during this strange time. This has been important and helped us make sure everyone’s job satisfaction remains high and that they are motivated and happy at work. This is crucial for the performance of our overall business and something we take very seriously.
What was your main focus when navigating through these uncertain times?
In times of crisis, personal finance is something that becomes even more relevant as people are increasingly worrying about their money in one way or another, be it their savings, earnings or even investments.
Specifically, we shifted our core offering to focus on elements of budgeting and personal finance management products, which are currently particularly valuable for people wanting to keep on top of their finances and for banks wanting to provide this much-needed support to their customers.
What are your plans moving forward to ensure a successful operation as the pandemic continues?
Our focus remains on using our expertise to provide guidance to our partners in how to navigate the unusual circumstances brought about by the pandemic, and to help them support their customers in managing their finances during this time and beyond.
We currently have many interesting projects in the pipeline with several different partners and will have news to share in the coming months. In our most recent project, we helped our customer UOB launch its digital bank TMRW in its second market, Indonesia. We also recently raised a strategic investment of 8.5M EUR, which will be used for continued investment in our R&D activities and which will hopefully help us roll out some new and exciting innovations over the coming years.
Microblink’s Head of Marketing Nina Šuljak is interviewed by The Fintech Power 50 Christophe Langlois at Finovate Europe 2019. They talked about identity onboarding, on device processing and augmented reality.
Microblink is an R&D company developing proprietary computer vision technology optimised for realtime processing on mobile devices. Advanced neural networks and deep learning techniques are used to process the fastest and the most accurate text recognition locally on a mobile device.
The Fintech Power 50 team came in numbers to promote our fintech collective, distribute our annual guide and interview a broad range of innovative demoing companies at Finovate Europe 2019 in London. Christophe Langlois, the CMO of the Fintech Power 50, caught up with Microblink’s Head of Marketing Nina Šuljak.
Microblink Interview at Finovate Europe 2019
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Become a The Fintech Power 50 Member
We thrive to help the best fintech companies on the market to drive their brand awareness and accelerate their growth all over the world. Each year, our carefully selected cohort of 40 fintech firms and 10 influencers will benefit from the inclusion in our annual guide which is available online and distributed all over the world via our 40+ media partnerships with the likes of Money 20/20 and Finovate.
We will also help them to exhibit at those events in a more cost-effective fashion and connect them with the trusted network of contacts in the global financial services industry our co-founders and CMO have built over the last 20 years. Those were the nominees for our inaugural 2018-2019 cohort. We will open this year’s nomination process very shortly, but if you believe your company oughts to join our fintech collective for 2019-2020, we invite you to contact us today!
It was a real pleasure to interview Microblink Nina Šuljak at Finovate Europe 2019. I was most impressed how fast their scanning technology works and their focus on security via on device data processing.
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