15 Oct SPIN Analytics was the runner-up at FinQuest by Alpha Bank 2022 global FinTech competition
SPIN Analytics was the runner-up at FinQuest by Alpha Bank 2022 global FinTech competition
Open Banking and ESG at the focus of this year’s competition.
New, technologically innovative solutions, which are expected to contribute to the operational transformation of the banking sector and enhance the quality of the products and services provided, emerged from the annual international innovation competition FinQuest by Alpha Bank 2022.
SPIN Analytics was selected as the runner-up for its innovative solutions and applications in regulatory credit risk modelling for Tier1 banks, during the Pitch Event held on Monday, September 12, 2022 at Technopolis City of Athens.
The competition, held for the 3rd time, has by now become established as a mechanism through which the Bank strengthens its ties with the domestic and international ecosystem of FinTechs active in the financial sector.
This year’s competition focused on solutions and applications that make use of open data to improve Customer experience (Open Banking), as well as on solutions based on the ESG criteria, with more than 67 companies from 19 countries submitting their proposals during the initial phase, confirming the strong international orientation of FinQuest.
The 5 best teams went through an acceleration phase and received mentoring by experienced Alpha Bank executives, business consultants and investment fund representatives, in order to improve their solutions and adapt them to the banking industry, while they also had the opportunity to attend specialized workshops by international experts.
In the context of the Pitch Event marking the completion of FinQuest by Alpha Bank 2022, the CEO of the Alpha Bank Group, Vassilios Psaltis, made the following statement:
“Innovation, enabled by digital technology, is the only solution to address modern challenges and at Alpha Bank we are committed to continue innovating, if we are to meet our business targets in the years to come. Thus, we are forging relationships and cooperating with start-ups and the broader Fintech ecosystem, to capture business opportunities, improve our Bank’s operating model and enhance the value we offer to our Customers.
The FinQuest by Alpha Bank competition, acting as an incubator of talented partners, is serving as a connector of ideas and people. In our view, this is one of the most valuable ways in which we can build an agile, digitally advanced banking group that delivers first class services and products”.
For his part, Alpha Bank’s General Manager of Growth and Innovation, Spyros Filaretos, said:
“The Fintech community is one of the moving parts within the broader financial system, and what they have is speed and knowledge. What we, as banks, have and can offer them, is a brand and our customer reach and, in many cases, the knowledge of how to go about the various regulatory requirements and intricacies. So, cooperation between Fintechs and banks makes perfect sense and this is exactly what FinQuest by Alpha Bank is here to facilitate. Alpha Bank, recognizing the innovation environment that has developed in our country and internationally, is now ready to embrace it, support it and capitalize on it. In this context, it also aims to strengthen and standardize the methods and procedures for scouting, picking and monetizing these innovative ideas.”
SPIN Analytics’ Co-Founder & CEO, Mr. Panos Skliamis, said:
“We feel very glad that we participated in the FinQuest competition, since we met all the senior stakeholders of the bank. It was a great opportunity for us to interact with them and learn about their current priorities. This educated us how to address their current needs and we believe that we can share their vision and mission, since their main priority is digital transformation, which actually is the reason we developed our company, SPIN Analytics.”
Find the press release of the competition here.
Watch the video from the awards.