A gravestone, showing a list of numbers resembling an iTAN list, standing as a symbol for the demise of the iTAN procedures due to the PSD2 Open Banking regulations

iTAN – An Obituary

Here lies iTAN. 

On September 14th 2019, after a lingering and worsening case of backwardness, it passed away. It joined the likes of videotex and MeChip in the peaceful hereafter of online banking.

Alas, poor iTAN, we knew you. 

In your brief existence of only 14 years, you have put your mark on the whole banking industry. And on myriads of printed lists. Precious times we have spent on your behalf, poring over papers, grubbing for that one golden number to end our insecurity – and get those funds transferred from our budget account to our savings account. 

You, iTAN, have managed to rise above its forebears, ending the whateverism of the old TAN dynasty. And yet, you had trouble keeping a stiff upper lip in the face of all those hyperactive neo banking millenials. You passed with dignity.

Farewell, iTAN. We will miss you.

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The conference room of the Next Generation Payments 2018 conference

Next Generation Payments 2018 — Our Review

What will the next generation of payment look like?

Tough question. But one that needs to be answered by the banking industry. Ever-accelerating technological advancements call for more flexibility on behalf of banks and financial institutions. For the 6th time, the German banking community Bankingclub GmbH has explored this topic at their annual Next Generation Payments conference. The conference took place from January 24th to 25th in Cologne.

As developers of emoney and virtual account management software such as CoreWallet and balancr we didn’t let the chance slip to attend. What we got: Two days of interesting presentations and networking well-worth a detailed conference review.

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A flying rocket leaving the fintech year 2017 behind, thus symbolizing an end-of-year-review

Looking back: An End-of-Year Review for Fintech 2017

You know you had it coming.

Your calendar told you well beforehand: This year is going to end soon. Which means the symptomatical end-of-year reviews are springing up all over the place.

We’ll contribute. While waving farewell to the old year, we’re looking back on our last 12 months of business. What did we experience? What did we achieve? And, looking at the whole picture, how has the fintech industry been holding up in 2017?

It will be a fintech end-of-year review featuring balancr then. Here are our highlights of 2017:

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The Compliance Factor in FinTech

FinTech – or – It takes more than a few lines of code and an API to crack the bank-dominated world open.

We started online payment systems and eMoney wallets all the way back in 2001. Looking back at the past decade and the development that took place in the financial technology sector during this time, with certainty we can tell: Now is the right time to be in FinTech! All eyes are on FinTech startups – but not just on the innovations it brings. Regulators are watching the innovative startups closely as they fall into the trap of underestimating “The Compliance Factor“ one after the other.

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