Every year, Temenos organizes its annual global event called Temenos Community Forum. This event is attended by senior executives of more than 1,200 banks, financial institutions (including start-ups), investors, analysts and media globally. It is a platform were The Swiss company encourages dialog amongst these different parties about the future of banking, addressing the increased pressures that banks experience when it comes to maintaining customer loyalty while adhering to the requirements from the regulators. In its 19th year, it has become one of the largest banking and financial conferences in the world.
One important part of the event are the Innovation Jam finals. The best fintech start-ups from around the world compete for a jury and an audience award. The companies were selected in regional qualifications in Miami, Hong Kong, Amsterdam, London, Geneva, Abu Dhabi and Luxemburg. Two Swiss start-ups, Sonect and Apiax made it to the finals.
Yesterday Sonect won the audience award at the Innovation Jam finals in Dublin. Sonect 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.