Finshape Expands Its Horizon: Acquisition of Realtime-XLS Marks a Significant Milestone in Digital Banking Solutions
Budapest, Hungary – In a landmark transaction that redefines the landscape of digital banking solutions, Finshape, a Budapest-based fintech company, has successfully acquired the loyalty platform Realtime-XLS from the Collinson Group. This strategic move not only underscores Finshape’s commitment to innovation but also marks its first acquisition of a global product company. While the financial specifics of the deal have not been disclosed, the implications of this acquisition are expected to resonate throughout the banking and fintech sectors.
Finshape, which made its inaugural appearance at FinovateEurope 2023 in London, has set its sights on enhancing customer loyalty—a critical component in the competitive banking industry. By incorporating Realtime-XLS, Finshape will onboard a team of 60 specialists, enriching its collective expertise while expanding its geographical footprint. Notably, the company plans to establish new offices in France and Singapore, thereby solidifying its relationships with major banks located in the UAE, Australia, Indonesia, and Singapore. Following this acquisition, Finshape will boast a substantial workforce nearing 600 dedicated professionals, supporting millions of end users across 100 banks globally.
“The acquisition of Realtime-XLS is a strategic milestone in our mission to revolutionize how banks interact with their customers by harnessing the full potential of technology and human expertise,” stated Petr Koutný, CEO of Finshape. This commitment to transformative customer service is becoming increasingly important as financial institutions strive to differentiate themselves in an overcrowded marketplace.
With the integration of the Realtime-XLS solution into Finshape’s Digital Bank Operating System (DBOS), the company is poised to elevate its loyalty capabilities significantly. The new functionalities will enable banks to reward customer behavior, thereby boosting engagement and generating additional revenue through opportunities for cross-selling and upselling. This strategic approach is essential for increasing customer lifetime value and securing a more significant share of consumers’ financial activities—an area of paramount importance in today’s digital economy.
“The loyalty solution will now form an integral part of our expanding digital banking portfolio, which is firmly centered around customer needs,” Koutný elaborated. “By seamlessly embedding this into our DBOS platform, we enhance the value we provide to banks, empowering them to deliver hyper-personalized experiences and cultivate deeper relationships with their clientele.” Such advancements not only support customer satisfaction but also pave the way for long-term loyalty—a crucial metric that often translates into enhanced profitability for banking institutions.
Finshape’s commitment to innovation is further affirmed by its accolades, including the Best of Show for its demonstration at FinovateEurope 2022. The platform has drawn attention for its ability to merge digital banking and sophisticated personalization to enhance customer engagement, particularly among micro and small business customers. This is significant given that small enterprises represent a major segment of the economy, yet often struggle to access tailored banking services.
The genesis of Finshape can be traced back to the merger of Czech Banking Software Company (BSC) and Hungary’s W.UP, a three-time Finovate Best of Show winner. This collaboration was designed to create a powerhouse in digital banking solutions capable of delivering comprehensive offerings that address the diverse needs of modern financial institutions.
Jenő Nieder, Deputy CEO at PortfoLion Capital Partners—the majority stakeholder in Finshape—hailed the transaction, emphasizing its alignment with the initial buy-and-build strategy put forth during Finshape’s inception. “This acquisition not only integrates a cutting-edge loyalty platform but also enhances our capabilities and extends our global reach, making us an even more formidable player in the fintech arena,” Nieder remarked.
The transaction arrives at a time when customer loyalty and tailored banking solutions are more crucial than ever. As digital transformation reshapes the banking landscape, institutions must innovate relentlessly to meet evolving consumer expectations. Finshape’s acquisition of Realtime-XLS positions it strategically to lead this transformation, heralding a new era in customer engagement within the financial services sector.
Conclusion
In sum, Finshape’s acquisition of Realtime-XLS represents a pivotal moment in the digital banking ecosystem. The move not only enriches its operational capacity but also underscores its commitment to fostering customer loyalty through technological advancement. As it embarks on this new chapter, Finshape is well-equipped to navigate the evolving challenges of the financial landscape, promising enhanced engagement and satisfaction for consumers worldwide.
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