Fintech Blog

Wed, Mar 6, 2019

Kontomatik ready to operate in 11 EU countries as an AISP

On 17th of February 2019 The Bank of Lithuania granted a license to Kontomatik UAB to passport its AIS services in 10 countries without the need to open local branches. According to the decision of the Bank of Lithuania, Kontomatik can now provide services in accordance with the PSD2 Directive in Lithuania, Latvia, the Czech Republic, Estonia, France, Germany, Italy, as well as in Poland, Portugal and Spain.

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Thu, Dec 20, 2018

We are now licensed AISP!

Kontomatik UAB, a subsidiary of the leading Polish fintech company Kontomatik Sp. z o.o., received the account information service provider license (AISP) from the Bank of Lithuania. According to the PSD2 directive, the license enables a provision of payment services for customers within the European Union. As the first company with Polish origin, Kontomatik will act as a licensed provider of account information service and confirms its readiness to serve customers in the European Union after the implementation of the PSD2 directive.

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Tue, Sep 18, 2018

2nd Annual Subprime Credit Forum in Prague is over!

Last week Kontomatik’s Team appeared at the 2nd Annual Subprime Credit Forum in Prague, CZ as a silver sponsor and the only #Fintech company. For many observers, short-term lending has a negative reputation due to the extremely high interest rates charged and in recent years regulators have really concentrated efforts to provide regulation and consumer protection against what were regarded as exploitational policies and tactics used by the industry to make money.

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Tue, May 15, 2018

Kontomatik appoints Piotr Warsicki as new CEO

Warsaw, Poland– May 15, 2018 – Kontomatik, the leading banking API in Europe, has appointed Piotr Warsicki as its new CEO. Officially starting on May 7th, Warsicki takes over from founder and current CEO Marcin Truszel, who will stay with the company as a board-member. Kontomatik allows customers to electronically access the bank account information and share with financial services or Fintechs. Founded in 2009 by Marcin Truszel and being acquired by Kreditech in 2015, the company quickly transformed into a leading account information service provider, supporting over 120 banks in 10 countries.

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Tue, May 15, 2018

Kontomatik appoints Piotr Warsicki as new CEO

General Data Protection Regulation (GDPR) will come into power on the 25th of May, 2018. As Kontomatik has always been striving to offer its services under the regulatory umbrella, we would like to inform you that we are well aware of the GDPR and are doing everything at our disposal to remain compliant. We are now working hard on updating our terms to ascertain that our clients are not exposed to any sort of a legal risk.

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Tue, Apr 3, 2018

Banks of no innovation

They are big, they are rich, they have resources. Yet many of them just can’t bring anything new to the world of finances they are in, while small startups can. What keeps some banks from innovating? Banking used to be quite a simple thing: take money from the ones who have a surplus of it and then give it to those in need. Of course, not for free. This straightforward business became more and more sophisticated as centuries went by, reaching peaks of its complexity at the end of the 1990s when deregulation allowed traditional banks to invest a lot in the financial market and run operations globally.

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Mon, Dec 18, 2017

Lending as a Service Explained

For decades lending was a standardized, yet tedious and time-consuming procedure. It also involved lots of human interaction and work. But it’s about to change — or rather is changing right now — with new technologies and solutions helping banks and fintech companies in simplifying and automating the process, thus cutting downtime, costs, and risks. A typical loan application would mean going to a brick-and-mortar institution — a bank in most cases — where you would be filling dozens of forms, providing piles of documents and IDs, then the staff would spend hours on verifying your information and analyzing financial data.

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Wed, Aug 2, 2017

What is open banking and how APIs help?

Depending on who you ask, the answer to this question can vary. Banks see it as a way to improve customer satisfaction in an increasingly digital economy. Fintech startups see it as an opportunity to compete in a crowded market. Consumers see it as a more effective way to control their personal finance. All of these things are made possible by open banking, but the concept is much broader than that.

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Tue, Jul 18, 2017

Kontomatik Presents at FinDEVr London 2017

This June our team has attended one of the leading European events dedicated to the development of the financial apps – FinDEVr 2017 in London. Previously we have spoken at Finovate and FinDEVr events about banking APIs and their integration, mobile onboarding of the customers, and this time we decided to take a completely different approach. Fintech seems to make lots of noise, but there is almost no sense behind the vast majority of the buzz words.

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Thu, Jun 29, 2017

Most Innovative Banking Products to Look For in 2017

In the tech industry, “disrupt” is the most powerful word that can appear in any headline. It’s the perfect definition of how many startups aspire to do business. They find a process that’s heavily integrated into our society, design a better way to do it, and collapse the foundation supporting an entire market. Economist Joseph Schumpeter described the process as “creative destruction.” In this example, it’s not just about innovation, but the pace of innovation that forces a quick shift of income from the losers to the winners.

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