Fintech
Global Paytech Ventures invests in Gibobs’ disruptive fintech platform offering European users complete credit evaluation and a curated suite of financial services offers
Global PayTech Ventures (GPT) announced its recent investment in Gibobs Allbanks whose cutting edge fintech platform is helping consumers, companies and providers of financial services to find their ideal match through the integration of sophisticated technology and personalized human analysis.
The platform is the first of its kind in Europe to bring consumers ‘out of the dark’ in the process of obtaining mortgage financing along with additional services to improve their financial ‘health’. Similar to Credit Karma in the US, Gibobs helps European consumers and companies to understand their financial ability to obtain financing and how to improve it. The platform goes further by assigning personal financial analysts who negotiate on behalf of each of their customers for the most competitive offers for their home financing products, such as mortgages, payment tools and insurance, as well as loans for construction companies, developers and real estate players.
“The superpower here is Gibobs comparative analysis, their ability to help consumers evaluate multiple financial product offerings and choose what’s best for them,” said Javier Perez, founder of Global Paytech Ventures (GPT).
Beginning with Spain’s mortgage market, Gibobs’ platform is systematically disrupting the European financial services market by offering a consumer-focused platform that is both data-driven and human-touch oriented all at once, or ‘bionic’ as Perez described it.
What is it
A data-driven, consumer-focused fintech platform designed to help loan/credit seekers to understand their overall financial situation, understand their ability to secure various financial services and acquire a competitive analysis of options offered by major banks and other entities participating on the platform.
Founded by Jorge González-Iglesias, serial entrepreneur who previously founded the carsharing company Bluemove, which was successfully sold to Europcar Mobility Group, and Óscar Bañó, former global director of the Risk area at BBVA. Gibobs’ risk analysis tools allow users to understand their total financial situation and secure optimal financing. Gibobs is initially targeting Spain’s mortgage market, approximately 400K mortgages per year, but they plan to expand into the broader European mortgage market and add additional loan services. In 2022, Gibobs plans to launch a version for SMEs.
With its multifaceted systems designed to address the financial needs of individual consumers and businesses, Gibobs’ President González-Iglesias likens the platform to Apple’s iOS operating system — “Gibobs is the iOS for financial services. We’re changing the whole paradigm.”
“What we’re building is an ecosystem where pre- and post-mortgage, we connect you to your finances via PSD2 so you can understand your financial situation and obtain a scoring. We want the user to understand their complete financial situation and then be able to choose financial products in a more objective and comparative way. You’re in an ecosystem specifically built around your data and your circumstances in order to help you make better financial decisions today and also in the future.”
How it works
- The borrower/consumer uploads their financial data, available via Europe’s ‘PSD2’ regulations, to the Gibobs platform.
- A financial analyst is assigned and helps the consumer through the entire process, from understanding their personal financial picture and the level of financing they can afford to securing the most competitive offers for various types of financing, and other home financing related products.
- Gibobs is paid, by the issuer or financing entity, for a percentage of the total amount financed.
Why it’s revolutionary
- Gibobs’s fintech platform is the first of its kind in Europe. No other platform offers credit scoring, overall financial ‘health’ status, as well as a competitive analysis of suitable mortgage offerings.
- The process for securing financing in Spain and other European countries is still fairly antiquated from a technology standpoint, compared to the US. Consumers typically have to visit a bank branch in person and wade through a lengthy credit evaluation process. Consumers are beholden to a particular bank’s offering with no knowledge of other, potentially more competitive offerings from other banks, unless they go through the process again, or multiple times, with other banks.
- The unique, ‘bionic’ aspect of the platform is its ‘hybrid’ approach’ combining both AI technology for data analysis and a human element to accurately understand a consumer’s goals, serve their unique financial needs and identify appropriate solutions.
“Our platform is bio-intelligent — we uniquely combine highly qualified human advice with state-of-the-art proprietary technology that uses artificial intelligence (AI) and is implementing blockchain technology to further disrupt the way we consume financial products. Our users can understand the state of their financial health and speed up financing processes. Qualified clients get personalized advice from a dedicated senior financial analyst who negotiates on their behalf with banks and advises them throughout the entire process to help (users) make the best financial decisions,” said González-Iglesias.
Milestones
- Gibobs has a current Net Promoter Score (NPS) of 87.
- 80% quarterly growth in users.
- 50% quarterly growth in Gross Merchandise Value in terms of mortgage loans.
- More than 15 major banks in Spain are participating on the Gibobs platform.
While Gibobs is consumer-focused, the platform also provides a much-needed technical interface for financial entities, real estate agents and buyers. “We’ve invested significant resources in a very advanced, original technology,” says González-Iglesias. Banks benefit from the platform’s ability to identify specific types of mortgage clients they want, for example, by leveraging technology they typically don’t have.
“We are having a strong impact on a sector that is in a very early stage of its journey towards digitalization. Financial Institutions are in need of technological tools for process optimization like the ones we are providing.” Gibobs objective, says González-Iglesias, “is to create a community of empowered users who we will help to make good decisions and better understand their finances.”
As we close out 2024, the fintech industry continues to deliver headlines that underscore its dynamism and innovation. From IPO aspirations to groundbreaking regulatory milestones, today’s updates highlight the transformative power of fintech partnerships, regulatory evolution, and disruptive technologies. Here’s what you need to know.
Chime’s Quiet Step Toward Public Markets
Chime, the U.S.-based financial technology startup best known for its digital banking services, has taken a significant step by filing confidential paperwork for an initial public offering (IPO). As one of the most valuable private fintechs in the U.S., Chime’s move could potentially signal a renewed appetite for fintech IPOs in a market that has been cautious following fluctuating valuations across the tech sector.
With a valuation that reportedly exceeded $25 billion in its last funding round, Chime’s IPO could set a new benchmark for the industry. Observers note that its strong customer base and revenue growth may make it an appealing choice for investors seeking to capitalize on the digital banking boom. However, the timing and success of the IPO will depend on broader market conditions and the regulatory landscape.
Source: Bloomberg
ZBD’s Pioneering Achievement: EU MiCA License Approval
ZBD, a fintech company specializing in Bitcoin Lightning network solutions, has made history by becoming the first to secure an EU MiCA (Markets in Crypto-Assets Regulation) license. This landmark approval by the Dutch regulator positions ZBD at the forefront of compliant crypto-fintech operations in Europe.
MiCA, which aims to harmonize the regulatory framework for crypto-assets across the EU, has been a focal point for industry players aiming to establish legitimacy and expand their offerings. ZBD’s achievement not only validates its operational rigor but also sets a precedent for other fintech firms navigating the evolving regulatory landscape.
Industry insiders view this as a strategic advantage for ZBD as it broadens its footprint in Europe. By leveraging its regulatory approval, the company can accelerate its product deployment and establish trust with institutional and retail users alike.
Source: Coindesk, PR Newswire
The Fintech-Credit Union Synergy: A Blueprint for Innovation
The convergence of fintechs and credit unions continues to reshape the financial services ecosystem. Collaborative initiatives, such as the one highlighted in the recent partnership between fintech innovators and credit unions, are proving to be a potent force in delivering tailored financial solutions.
This “dream team” approach allows credit unions to leverage fintech’s technological expertise while maintaining their community-focused ethos. Key areas of collaboration include digital payments, personalized financial management tools, and enhanced loan processing capabilities. These partnerships not only enhance member engagement but also enable credit unions to remain competitive in an increasingly digital-first financial environment.
Industry analysts emphasize that such collaborations underscore a broader trend of traditional financial institutions embracing fintech-driven solutions to bridge service gaps and foster innovation.
Source: PYMNTS
Tackling Student Loan Debt: A Fintech’s Mission
Student loan debt remains a pressing issue for millions of Americans, and a Rochester-based fintech aims to offer relief through its cloud-based platform. This innovative solution is designed to simplify loan management and provide borrowers with actionable insights to reduce their debt burden.
The platform’s features include repayment optimization tools, personalized financial education, and seamless integration with loan servicers. By addressing the complexities of student loan management, this fintech is empowering borrowers to make informed decisions and achieve financial stability.
As the student loan crisis continues to evolve, solutions like this highlight the critical role fintech can play in addressing systemic financial challenges while fostering financial literacy and inclusion.
Source: RBJ
Industry Implications and Takeaways
Today’s updates underscore several key themes shaping the fintech landscape:
- Regulatory Milestones: ZBD’s MiCA license approval exemplifies the importance of regulatory compliance in unlocking growth opportunities.
- Strategic Partnerships: The collaboration between fintechs and credit unions demonstrates the value of combining technological innovation with traditional financial models to drive customer-centric solutions.
- Market Opportunities: Chime’s IPO move reflects a potential revival in fintech public offerings, signaling confidence in the sector’s long-term prospects.
- Social Impact: Fintech’s ability to tackle systemic issues, such as student loan debt, showcases its role as a force for positive change.
The post Fintech Pulse: Your Daily Industry Brief (Chime, ZBD, MiCA) appeared first on News, Events, Advertising Options.
Leading global payments platform SPAYZ.io has confirmed it will be attending iFX EXPO Dubai 2025 on 14 to 16 January. Exhibiting at Stand 64 at Trade Centre Dubai, SPAYZ.io’s team of professionals will be on hand providing live demonstrations of its renowned payment services for payment providers. Attendees will also receive exclusive insight into SPAYZ.io’s plans for 2025 alongside early early access to its upcoming plans for the new year.
SPAYZ.io delivers a host of payment solutions that leverage the latest technological innovations and open access to the fastest growing emerging markets across Africa, Europe and Asia. Over the past year, there has been huge demand for its Open Banking and local payment method services, alongside bank transfers, mass payouts, online banking and e-wallets.
Yana Thakurta, Head of Business Development at SPAYZ.io commented: “We look forward to once again participating at iFX Dubai to expand our network of partners and clients. It’s a fantastic way to kick off the year, connecting with thousands of industry leaders from FOREX platforms to trading companies, and everything in between.
“Our key goal for iFX Dubai EXPO 2025 is to expand our portfolio of solutions and geographies. We’re using this as an opportunity to partner with like-minded entities who share our ambition to provide payment solutions that are truly global.”
Come meet SPAYZ.io’s team at the Trade Centre Dubai at Stand 64. You can also book a meeting slot with a member of a team.
The post SPAYZ.io prepares for iFX EXPO Dubai 2025 appeared first on News, Events, Advertising Options.
Airtm, the most connected digital dollar account in the world, is proud to announce the addition of two distinguished industry leaders to its Board of Directors: Rafael de la Vega, Global SVP of Partnerships at Auctane, and Shivani Siroya, CEO & Founder of Tala. These appointments reflect Airtm’s commitment to innovation and financial inclusion as the company enters its next phase of growth.
“We are thrilled to welcome Rafael and Shivani to Airtm’s Board of Directors,” said Ruben Galindo Steckel, Co-founder and CEO of Airtm. “Their unique perspectives and proven track records will be invaluable as we continue scaling our platform to empower individuals and businesses in emerging markets. Together, we’ll push the boundaries of financial inclusion and innovation to create a more connected and equitable global economy. Rafael and Shivani bring a wealth of experience and strategic insight that will strengthen Airtm’s mission to connect emerging economies with the global market.”
Rafael de la Vega, a seasoned leader in fintech global partnerships and technology innovation, is currently the Global SVP of Partnerships at Auctane. With a proven track record of delivering scalable, impactful solutions at the intersection of fintech, innovation, and commerce, Rafael’s expertise will be pivotal as Airtm continues to grow. “Airtm has built a platform that breaks down barriers and opens up opportunities for people in emerging economies to connect to global markets. I am excited to contribute to its growth and help further its mission of fostering financial inclusion on a global scale,” said Rafael.
Shivani Siroya, CEO and Founder of Tala, is a pioneer in financial technology, renowned for empowering underserved communities through access to credit and essential financial tools. Her leadership in leveraging data-driven innovation aligns seamlessly with Airtm’s vision of creating more equitable financial opportunities. “Empowering underserved communities has always been at the core of my work, and Airtm’s mission resonates deeply with me. I’m thrilled to join the Board and work alongside such a dynamic team to expand access to financial tools that truly make a difference in people’s lives,” said Shivani.
The post Airtm Enhances Its Board of Directors with Two Strategic Appointments appeared first on News, Events, Advertising Options.
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