Stock market candidate ISX Financial EU PLC: These are the differences between BankTech and FinTech
The digital transformation of banks is in full swing and BankTech and FinTech companies are bringing movement and competitive pressure to the market with their offerings. New technology trends are coming onto the market at an ever-increasing pace, while security, regulatory and data protection aspects must be taken into account during development. The ISXPlc Group is an important global player in this BankTech field: it operates in more than 34 countries, accepts more than 40 payment methods and enables the processing and settlement of transactions in more than 23 currencies. But what exactly distinguishes BankTech companies such as ISX Financial EU Plc ("ISXPlc"; ISIN: CY0200861017) from other FinTech companies?
BankTech vs. FinTech
Both BankTech and FinTech are likely to play an important role in the future development of the financial sector. However, while BankTech mainly focuses on improving and optimizing internal processes of traditional banks, FinTech aims to revolutionize financial services for end customers and bring new entrants into the financial sector. Both areas overlap to a certain extent, as traditional banks are also increasingly implementing FinTech solutions in order to remain competitive.
Products and partnerships
The market potential for BankTech is significant as banks continue to look for ways to increase efficiency, reduce costs and increase customer satisfaction. ISXPlc contributes to this by providing cross-border solutions for customer enrollment, remote identity verification, payment processing, card acquisition, settlement and eMoney issue and redemption. ISXPlc develops its own "banking technology" via its wholly owned Probanx® subsidiary, which it uses to provide regulated services, and then converts it into a SaaS (Software as a Service) that other banks and payment companies can use. Probanx® provides technical aggregation and gateway services for financial institutions to access the UK’s Faster Payment Service, as well as to the (Central) Bank of Lithuania’s CentroLink service for SEPA Instant, SEPA SCT and SEP SDD, and is finalizing access agreements with other Central banks in the MENA and European region.
The integration of advanced core banking platforms such as Probanx® CorePlus enables banks to improve their services while meeting regulatory requirements. In addition, the growing acceptance of digital solutions and the need for secure and efficient processing of financial transactions signals an increasing demand for BankTech solutions.
Collaborations with Mastercard (ISIN: US57636Q1040) for card acquisition and Diners Discover Financial Services (ISIN: US2547091080) for card issuing illustrate ISXPlc's strategic goals to enter new markets and offer innovative financial products. Learn more about the technology and vision driving ISXPlc and discover the future of BankTech in the video interview with Nikogiannis Karantzis, Managing Director and CEO of ISXPlc: https://www.isx.financial/blog/nkinterviewdrreuter
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Disclaimer/risk warning
Conflicts of interest: There is a paid IR and PR contract with ISX Financial. The content of the services is, among other things, to increase the level of awareness of the company. Dr. Reuter Investor Relations is therefore acting in the interests of ISX Financial in the preparation and distribution of this article. It is a promotional editorial presentation.
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