Braintri, a European leader in fintech innovations, today announced a new deal with Benefia part of Vienna Insurance Group. The insurance subscription platform developed by Braintri is being launched in several sales channels of Benefia, including mobile. The platform, named hiPRO Connector, has already been implemented for Allianz. The new implementation marks a busy year for Braintri with new mobile banking projects for PKO BP and mBank.
The insurance subscription platform implemented for Benefia is offered on the market under the brand hiPRO Connector. It allows customers to pay for car insurance in monthly installments, a relatively new and innovative scheme for insurance products. The Polish insurtech hiPRO is responsible for the business development of the platform, while the Estonian Inbank and the Polish Alior Bank will be providing the financing for Benefia customers.
The new deal is another step in Braintri’s dynamic business expansion in recent years. Apart from insurtech projects for Allianz and Benefia, the Warsaw-based fintech has been constantly strengthening its market position as a leading provider of mobile banking solutions. In 2018, Braintri successfully implemented numerous new functions in the globally-awarded IKO mobile app for PKO Bank Polski, the largest bank in Central Europe. Recently, Braintri also started developing the mobile app for mBank, recognized as a European mobile banking champion.
"We entered 2019 with the feeling we achieved most of our goals. Winning over new big brands proves that our efforts in providing the current customers with world-class IT services are noticed and appreciated. There are new goals ahead, including finalizing the company’s merger with iCompass, planned rebranding, and gaining a stronger foothold on international markets. This will surely be the busiest year in Braintri’s 6-year history," says Wojciech Zatorski, Braintri’s Co-Founder and COO.
Earlier in 2018, Braintri announced a plan for a merger with another Polish innovative fintech, iCompass. The move will allow both companies to provide customers with payment and big data products tailor-made for the open banking era. Braintri is the owner of the globally-recognized Jiffee, a white-label mobile payment solution, and Biffee, a big data core banking offload engine. iCompass is the technology provider for Poland’s first mPOS platform, and developed the Octopus Payment Hub universal payment gateway.
In recent years, Braintri finished its first project in response to the open banking EU regulations (PSD2) and implemented the Biffee core banking offload engine in PKO BP. Currently, Braintri is developing a PSD2 hub for the Polish National Clearing House (KIR). These solutions, branded Polish API, will serve as a single access point for all external parties. It will be available to commercial banks in the first quarter of 2019.
Founded six years ago, Braintri specializes in products and services for the banking sector, and is involved in the development of mobile apps for the largest global banks, including the FTSE large cap giant PKO BP and the mobility icon mBank. The company helped establish Poland's mobile payment standard BLIK, now enjoying record results. Additionally, Braintri offers its own solutions – Jiffee in mobile payments and authorization, and Biffee, a big data platform for banks. Last year, Braintri merged with software house iCompass to create Europe’s leading fintech, and made its first step in global expansion by entering the UAE market. Both the company and its highest-standard solutions have received a number of prestigious awards, including Best of Show at Finovate New York and San Francisco, an SAP Global Innovation Award, an award at the Citi Mobile Challenge, and last year ’s recognitions - World's Best Mobile Banking Application and a Polish Innovation Award. Braintri is based in Warsaw, Poland, and has a team of almost 80 engineers. The company’s founders previously worked for some of the world’s largest financial institutions, on five continents. Those included Trevica (currently Mastercard Payment Transaction Services) and Pioneer Investments.