FinXP wins Malta’s Best Alternative Banking Award

FinXP has been awarded Malta’s Best Alternative Banking Award at the prestigious Malta iGaming Excellence Awards (MiGEA) organized by Dynamic Events Ltd. MiGEA, which was held at the Intercontinental Hotel last Friday, is a comprehensive iGaming awards event that brings the whole industry together to reward and celebrate innovation and progress.

FinXP, a fast-growing Malta-based fintech, was recognized for its IBAN4U service that provides businesses with an Online IBAN Payment Account that enables them to easily make and receive payments worldwide. As an alternative banking solution, IBAN4U is a much sought-after service by companies in the European iGaming sector which often find it challenging to open bank accounts with traditional banks.

Jens Podewski, CEO and co-founder of FinXP, commented that “FinXP has invested heavily this past year in taking IBAN4U to the next level. Over the past 12 months we have implemented Oracle Flexcube, widely recognized as one of the world’s leading core banking systems that powers huge banks around the world. Having such a best-in-class system at FinXP opens up many new possibilities for our clients and partners, especially with projects relating to Open Banking, which is currently a hot trend in the financial services industry.

Beyond Oracle Flexcube, we have invested further in several new state-of-the-art systems including in cybersecurity, digital customer onboarding, automated transaction monitoring, and more. These investments are crucial for us to remain at the forefront of the Payment and Banking sector.”

Fellow co-founder and CFO of FinXP, Stefan Haenel, added that “IBAN4U has now become even more important for the iGaming community. Following Malta’s FATF greylisting, certain companies based in Malta may experience difficulties with keeping their bank accounts with foreign banks. As a result, working with a dynamic fintech like FinXP that understands the payment and banking needs of the local iGaming sector is increasingly a very useful alternative.”

Later this year, FinXP will also be participating in the iGamingNEXT and SiGMA Europe conferences, both held in Malta, where it will be launching innovative new features and products linked to its IBAN4U service.