The leading banking-software provider, Temenos, is constantly searching for new innovative solutions for its clients. To achieve this, it organises a series of competitions, «innovation jams» to get in contact with outstanding fintech companies. This year jams are organised in Dublin, Miami, Hong Kong, Amsterdam, London, Geneva, Abu Dhabi and Luxemburg.
In Geneva, the journey has come to the end. While eight Swiss startups entered the Swiss finale, only two, Sonect and Apiax, secured themselves a place in the global finals, held at Temenos Community Forum in Dublin.
Sonect, which won the jury prize, is a pioneer in virtual ATMs. The startup developed an app that enables people to withdraw cash from any store that uses Sonect solutions. After scanning the withdrawer’s bar code from the withdrawer’s app, the storeowner provides cash instantly. This allows them to reduce the amount of cash at disposal whilst earning money and attracting new customers. Similarly, individuals can avoid an extra trip to the ATM.
The second winner, Apiax, received the public award. The startup transforms complex regulations into easy-to-use digital compliance rules. This is achieved by combining legal and compliance expertise with cutting-edge technology. The platform consists of up-to-date and verified digital rule sets, and a regulatory cockpit for legal and compliance teams to manage regulatory updates, review and deploy them.
Photo: Team Apiax