Common Position of the European Fintech Sector

The Bulgarian Fintech Association became a co-signatory of a Proposal for action in the field of financial technology and innovation. The ideas were submitted by a number of European Fintech Associations to the European Commision.  The proposals in the common position of the sector are:   The creation of a Single European Standard for Open Banking; Harmonisation of the methods of electronic and remote identifiction so that obliged entities in all members states can use…

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Phone Killed the POS Terminal

This year’s edition of Raiffeisen Bank’s Elevator Lab Challenge ended with a great success for one of our founding members Paynetics and their project Phos.  After a day of mentoring and pitching sessions, Phos was chosen as the winner in Reiffeisen Bank’s competition. The start-up will receive a wildcard to pitch directly on the global semifinals of Elevator Lab Challenge. The company also starts a PoC with the bank’s local branch right away.  PHOS is a revolutionary application that turns…

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The Latest Achievement of Paynetics and Reloyalty

We once more have a reason to be proud of our members!  Phos and Phyre – two of Paynetics’ projects, and Reloyalty are among the finalists in Reiffeisen Banks’ Elevator Lab Challenge! Phos is a solution which will benefit the small and medium enterprises by transforming their smartphones into POS-terminals.  Phyre is a digital wallet for mobile payments, ditial loyalty cards and peer-to-peer payments.  Reloyalty is a dynamic loyalty platform which gathers information about the user’s behaviour and crafts customer discounts accordingly.…

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Среща с ДАНС по повод ЗМИП

На 25.06.2019 г. се проведе среща с  Държавна агенция „Национална сигурност” (ДАНС) по повод Закона за изменение и допълнение на Закона за мерките срещу изпирането на пари(ЗИД ЗМИП).  Срещата се проведе с две основни цели: Запознаване на ДАНС с Българска финтек асоциация и нашите дейности; Обсъждане на притесненията, изразени от бизнеса, по повод предложените промени в ЗМИП.  В рамките на срещата се обсъдиха идеи за бъдещо сътрудничество с агенцията, като основната цел е гледната точка…

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The FinTech’s Perception of Facebook’s New Cryptocurrency

Our BoD Member Svetoslav Dimitrov took part in Bloomberg TV Bulgaria‘s “Business Start”.  He talked about Facebook’s recently announced blockchain cryptocurrency Libra.  What is special about this new currency is that the users will be able to send and receive money through Facebook’s chat service.  Libra’s value will be guaranteed, as it will be linked to a currency basket and its worth will be calculated on a daily basis, much similar to the way traditional national…

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Varengold Bank Acquires 20% of Bulgaria’s Lending Platform Klear

We have exciting news from one of our BoD members – Klear Lending! Germany’s Varengold Bank AG has agreed to acquire 20 percent of Klear, a Bulgaria-based peer-to-peer (P2P) lending platform with leading positions in the emerging FinTech segment in Southeast Europe (SEE). The two sides have already signed an agreement under the terms of which the shares are expected to be transferred till the end of the second quarter of the year.   This is Varengold…

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