Retailers are evolving into fintech ecosystems, embedding payments, credit, and digital wallets directly into the shopping journey to boost retention. This blur between commerce and finance prioritizes long-term customer value over one-off sales.

Traditional points and cashback are giving way to gamification and “invisible” rewards. Modern shoppers, especially younger cohorts, value seamless digital experiences and emotional engagement over simple transactional incentives.

Despite moving toward a “two-tap” checkout, retailers must navigate regulatory hurdles, like mandatory physical receipts, that disrupt digital flows. Ultimately, the industry is prioritizing frictionless speed to meet modern consumer demands despite these legacy barriers.

This is what the latest UNCHAIN White Paper – “Beyond Transactions – Rethinking Loyalty, Credit, and Embedded Finance in Retail” explores. Based on insights from the Retail roundtable at the 4th UNCHAIN Fintech Festival powered by VISA, it gives a front-row view of how financial institutions are adapting to change.

ACCESS THE FULL WHITE PAPER NOW

Unlock the full perspective after download—dive deeper into detailed analyses, actionable insights, and the strategies driving how the Central and Eastern Europe’s retail banking is evolving in real time.

Building on three years of success, UNCHAIN enters a new growth phase with strengthened international partnerships. The strategic partnerships with LOT Airlines, Oradea Municipality, and Visa will boost the festival’s direct flight connections across the CEE, enhancing its accessibility and impact, and making it a significant milestone for both UNCHAIN and the region.

“Strategic partnerships drive growth and are the cornerstone of innovation in fintech. Through trusted collaborations, we aim to cultivate an industry revolution over time. Our alliance with LOT Airlines, for example, simplifies travel for participants, offering direct flights connecting all CEE capitals via Warsaw, along with exclusive perks like business lounge access. Similarly, Visa’s continuous partnership with UNCHAIN underscores their trust in the event, providing their international experts with a premier platform for learning, discovery, and innovation and turning them into genuine fintech ambassadors. Such initiatives embody our commitment to growing UNCHAIN into a truly transformative event, a vision made possible by a reinforced team focused on achieving even greater impact in the years ahead,” said Alexandra Pollack, Founder & CEO of UNCHAIN.

A Thriving Network at the Core

The strength of UNCHAIN lies in the network it creates and fosters. To enhance this, the UNCHAIN team consolidates by welcoming David Pollack, an expert in international projects development & financial markets, as a permanent member and growth driver. This renewed team will focus on expanding the community of business and industry advisors, ensuring a comprehensive representation of the region’s diverse fintech landscape. Their mission remains steadfast: to unite the CEE fintech ecosystem, amplify its collective voice, and encourage business growth.

David Pollack, Head of Growth & International Development at UNCHAIN, remarked: “Next year marks a strategic leap for UNCHAIN. We’re cementing the event’s foundation with robust partnerships but also with an elite advisory network that spans all major CEE markets. I am excited about the influx of financial institutions, regulators, innovators, and startups who will enrich the event through their knowledge, ideas, and collaboration.”

UNCHAIN’s Role in Regional Fintech

As the benchmark for fintech and financial services events in the CEE, UNCHAIN is dedicated to driving regional innovation through cooperation, resource access, and elite networking.

Alexandru Chira, Director General at Visit Oradea, stated: “The success of the UNCHAIN Fintech Festival highlights not only the remarkable potential of Central and Eastern Europe’s fintech ecosystem but also the importance of public sector involvement in driving innovation and collaboration. Events like this provide the economy with access to essential networking opportunities and relevant industry insights, fostering growth and development. Oradea is proud to play a pivotal role in creating the infrastructure necessary to support and nurture initiatives like UNCHAIN. Visit Oradea will continue working alongside the festival’s extraordinary project team to bring together regional leaders from fintech, regulators, banks, startups, and academia. We remain committed to contribute to their vision of fostering a collaborative spirit that will resonate across Europe.”

2025 Agenda Highlights

The upcoming edition boasts an expanded agenda, with more enhanced targeting of content. The main stage will transform into a general assembly focused on policy and public sector topics, while the sub-stages will further deliver exceptional quality content.

• Digital Banking, with focus on the rise of neobanking and how AI implementations shape the financial ecosystem;
• Payments, with focus on Cross-Border and P2P (Peer-to-Peer) models;
• Regulation & Compliance,  Security being the main topic of discussion in nowadays’s changing digital landscape.

All this will be matched by a lively expo & networking area, enhancing visibility and improving connectivity for the partners

The organizers expect over 120 global speakers from 40 countries, with insights on emerging trends, plus participation from 700+ delegates and 350+ companies. With 70% representation from the financial sector, UNCHAIN is the definitive platform for impactful fintech dialogue.

Bankers, fintech creators and enthusiasts that want to meet global leaders, discover innovative solutions, and expand their network should seize the opportunity to join the most dynamic fintech event in the CEE. Immediate registrations will benefit from the Super Early Bird Offer — 750 EUR, meaning an exclusive 40% discount until January 31st.

See you all at this summer’s UNCHAIN Fintech Festival on June 19-20, 2025, for unforgettable moments.

• Super Early Birdregistration here
• Check out the 2024 after event video here

***

About UNCHAIN Fintech Festival

UNCHAIN Festival is a premier event that unites the financial and tech sectors in the CEE region to foster collaboration and innovation. Set in the historic Oradea Fortress, the festival offers a platform for discussing emerging trends and challenges with the industry’s biggest names.

All of this could not be possible without the foundational involvement of regional fintech innovators such as VISA, the event’s Main Partner, together with Google Cloud and InfoCert as Technology Partners, Banca Comerciala Romana, Raiffeisen Bank and Banca Transilvania as Banking Partners. Event sponsors that support innovation throughout the CEE region are Citi Bank, Garanti Bank BBVA, SIBS Romania, Amazon Web Services, Evam, Finshape, Transfond, and CMS Cameron McKenna.

Media contact: Irina Ștefaniu, PR Consultant – irina@unchain.media / +40 753010096

It’s funny how we all have those moments. Those “coincidences” where your phone seems to know you better than you know yourself. Whether it’s Instagram targeting your inner chef or your bank nudging you with a credit card offer right as you plan a weekend trip, it’s like they’ve got you figured out.

My dad would say it’s Big Brother watching. I’d say it’s just real-time event processing in action. So yeah,…same thing. Ok, just kidding. -Ish.

Of course, if you’re in finance, you’re no stranger to this. EVAM, for example, takes this to the next level. They’re not just pushing ads or offers—they’re helping companies take action on customer behavior in the moment it happens. That’s the kind of tech that keeps customers engaged and businesses ahead of the curve.

At this year’s UNCHAIN, we had the pleasure of talking with Valentin Costa, Sales Manager at EVAM. He shed some light on how EVAM is taking over the customer engagement space in banking and telecoms with real-time event processing.

Laser-Focused on Customer Engagement

We’ve been in the market for about eight years. And I think we’ve managed to find the niche where, you know, you could find some similar products doing similar things, but they are part of a bigger solution. So, the focus on developing those products was in another direction. We focused on this direction of customer engagement.

Valentin Costa

And that laser focus? It’s paying off. While other companies are spread thin and trying to be everything to everyone, EVAM sticks to what they do best: getting banks and telcos to communicate better with customers in real time.

Valentin is confident about why they’re the first choice: 

We are really, really, you know, laser-focused on developing a customer engagement tool for banks and telcos. So that will be our, let’s say, a key differentiator.

Valentin Costa

The Pandemic Gave Banks a Much-Needed Kick

Let’s not pretend banks have always been on top of their game when it comes to digital communication.

Banks have been a little late to the table, haven’t they, when it comes to communications? Pandemic helped.

Valentin Costa

The pandemic gave them a shove in the right direction, and now there’s no going back. Banks quickly learned that they needed to reach customers without them setting foot in a branch. Valentin said it best: 

You need to invest in the customer experience because it’s the only element that will make the difference between whether a customer decides to stay with the bank or go to another bank. 

Valentin Costa

When competitors are breathing down your neck, real-time engagement isn’t just a trend anymore—it’s survival.

Don’t Spam. Be Relevant.

We’ve all been on the receiving end of spammy messages and irrelevant offers, and we know how fast that sends us running. That’s why EVAM’s approach is focused on relevance, always. 

We enhance the experience and we base the communication with the client on relevance. We don’t spam the customer with things that are useless or irrelevant.

Valentin Costa

They’ve got data models working on an individual level to figure out what the customer needs, when they need it, and which channel works best to send that offer. Simple, right? But here’s the genius part: 

By automating these tasks, you know, we have a higher chance of adopting that product or service.

Valentin Costa

When customers feel like the offer is meant for them, they’re more likely to engage. And more engagement? That’s loyalty right there.

Easy to Implement, Even Easier to Scale

When all is said and done, the real question banks care about is, “How easy is this to actually use?” Well, according to Valentin, EVAM’s got that covered, too. 

Our typical implementation time is around three months, even for a large bank.

Valentin Costa

They’ve hooked up banks with over 50 data sources in a matter of months, which is no small feat. And when it comes to scaling, it doesn’t matter if you’ve got a million customers or 10 million.

 It depends. I mean, there are banks that, even if they are small, have a wide variety of systems… And some big banks have decided to, you know, go through a digital transformation about three or four years ago where everything is more streamlined.

Valentin Costa

Basically, whether your tech stack is a mess or already modernized, EVAM can get you connected and running.

The Circle of Engagement (and Money)

Valentin described EVAM’s approach to customer engagement as a circle. You start by improving the customer experience, and then the customer will consume more products. The more they consume, the more loyal they are. And the more loyal they are, the less likely they are to jump ship for another bank.

If the communication is based on relevance, then you have a customer who’s happy about the experience, and then he consumes more products from the bank.

Valentin Costa

More consumption equals lower churn risk. It’s a loop that keeps on giving for both banks and their customers. And now, with the Romanian market in the bag, EVAM has its sights set on bigger things. 

Our primary focus now is Central Eastern Europe. We managed to secure Romania’s biggest bank.

Valentin Costa

They’re also eyeing major banks in Poland and the Czech Republic next. Looking further down the line, EVAM has its sights set on bigger things.

Somewhere next year, we will start approaching banks in Western Europe, where the references that we’ve managed to get in Central Eastern Europe would be more useful.

Valentin Costa

They’re ready to take on the Western markets, and with their track record, it looks like they’ve got a solid shot.

Nowadays, there are many contenders on the market, but one company that caught our eye is Forvis Mazars. They’re no different—except they’re making sure all this new technology actually works for their clients.

But it’s not just their size or reach that’s turning heads. It’s how they blend this technology into their everyday operations without losing sight of what really matters.

At this year’s edition of UNCHAIN, we caught up with Zoltan Betyak, Director of Innovation at Forvis Mazars Hungary. Listening to Zoltan, it’s clear that “innovation” isn’t just some fancy word they throw around but the core of their strategy. 

Snapshot – Where Forvis Mazars Stands Today

When Forvis and Mazars merged in 2023, they didn’t just create another big-name firm. They put together a top 10 global network, bringing over 40,000 professionals in more than 100 countries into the fold. They combined their strengths to offer better audit, tax, and advisory services. Which, as it turned out, set the company on a trajectory for growth.

2024 has been a big year for Forvis Mazars. Six of their leaders made it onto Forbes’ list of America’s top CPAs, showing just how much influence the company has. They also took home ClearlyRated’s Best of Accounting Award for Service Excellence.

This kind of recognition is the result of ongoing innovation. Take their TaxCred PRO tool, for example. It’s a practical solution that helps businesses navigate tax credits for clean energy projects. It’s not just technology for technology’s sake – it’s technology that gets things done.

From Concept to Client Impact

Speaking of technology, Zoltan Betyak, who heads the innovation department at the company’s Hungarian unit, has been part of the company’s transformation in the last few years. He’s been with Forvis Mazars Hungary for 15 years and has seen the industry change in big ways, especially with the rise of technology in finance.

Zoltan started as a financial auditor, but it didn’t take long for his IT skills to put him at the front of innovation at Forvis Mazars Hungary.

We needed one guy who understood both the IT aspects of the world and also the business that Mazars does, which is accounting, audit, and so on.

Zoltan Betyak

That’s how the innovation department was born, and it’s been growing ever since.

Today, his team does everything from AI to robotics process automation (RPA). AI, in particular, has been a major focus:

We are basically one, one and a half years in.

Zoltan Betyak

Working with new technology includes moving from analog to digital processes, reducing manual tasks, and increasing automation across the board.

We put into our goals and our focus to, let’s say, innovate or revolutionize the audit profession and all the other services that we do.

Zoltan Betyak

For them, the goal is to find tech that works and then use it to improve their offers.

It’s not us, tech guys, who should tell the business what the use cases are.

Zoltan Betyak

It’s a collaborative effort, and that’s what makes it work.

As they look to the rest of 2024 and beyond, Forvis Mazars is ready to keep pushing forward. They’ve got the global reach, the local expertise, and the right mix of innovation to stay ahead of the curve. And they’re doing it all with a focus on what really matters: delivering value to their clients.

Awareness and Implementation

• High Awareness: 81% of large companies have at least basic awareness, with 50% having thorough knowledge of digital ID technology.
• Active Integration: 42% are actively integrating digital ID solutions, 31% are in early stages, and 17% are developing strategic plans.

Regional Insights

The UAE shows higher integration rates, while the US and Europe are more cautious, with 37% and 39% in the integration phase, respectively.

Forrester emphasizes the need for a hybrid approach to digital IDs and recommends that regulators provide frameworks ensuring interoperability, security, and privacy.

Motivations and Challenges

• Motivations: Organizations are motivated by the need to enhance security, improve customer experience, and comply with regulatory requirements.
• Challenges: Key challenges include integration with existing systems, ensuring user privacy, and managing the costs associated with implementing digital ID technology.

Technological Adoption

• AI and Biometrics: Many companies are exploring AI and biometric technologies to strengthen their digital ID solutions.
• Interoperability: There is a focus on ensuring that digital ID systems can work seamlessly across different platforms and jurisdictions.

The study suggests a positive outlook for the adoption of digital ID technologies, with continued investment and innovation expected in this area. Companies are increasingly recognizing the importance of digital identities in securing transactions and enhancing operational efficiency.

The purpose of each Demo Day is clear: to connect startups with investors, foster innovation, and showcase the incredible talent in the region. Startups pitched their ideas to a panel of seasoned investors, and the agenda was packed into a concise session, including pitching sessions, Q&A roundtables, and fireside chats. 

Welcome Address

The second Demo Day kicked off with an enthusiastic welcome from the host and a short presentation of the attendees. The host emphasized the significance of Demo Day as part of the larger Unchained Fintech Festival, highlighting its role in fostering connections and driving innovation in Central Eastern Europe (CEE) fintech ecosystem.

The main purpose of these demo days is to create engagement of the multiple ecosystems among fintech startups and investors from multiple countries.

The host described the event as “basically like a CEE tour” aimed at building networks and fostering business growth before the main festival. Participants were excited about the upcoming pitches and the valuable insights from investors – all happening in a culturally diverse online environment. 

It will be very interesting because the cultural differences between the countries are very interesting, and if you can see the insights that those investors have when they invest, especially in startups from different countries.

Startup Pitches

The heart of Demo Day was the startup pitches, where entrepreneurs from Croatia, Serbia, and Slovenia showcased their ideas.

From Croatia , Matija Nakic, the co-founder and CEO of Farseer, kicked off the pitching session with his startup, Farseer. Describing Farseer as “Airtable for finance,” Matija highlighted the platform’s ability to automate processes for finance teams, reducing their reliance on spreadsheets and legacy solutions.

Farseer gives finance teams the building blocks to build and automate all their processes – from invoicing to closing, planning, reporting, and financial consolidation. Think of Farseer as Excel built for the enterprise—a spreadsheet in the front, and a powerful analytical engine in the back.

With 42 customers and an annual recurring revenue (ARR) of 700K, Farseer plans to expand its market reach and continue developing its platform.

Next up was Adrian Stavljenic , the founder of UniNet, who presented a bold vision for a new internet infrastructure. UniNet is a decentralized storage and computing platform designed to improve user experience, privacy, security, and credibility.

UniNet is a concept of a new internet and a new way that we live our lives through the digital era. Our goal is to create a system where we will be able to create fully automated, self-manageable businesses.

Adrian emphasized UniNet’s potential to redefine data transfer and storage, aiming for scalability and security with the ability to handle quadrillions of transactions per second.

From Serbia , Dusan Bobicic, the founder of Uplati.rs, shared his journey of solving a real-life problem with his digital payment request platform. Inspired by a personal need to transfer money easily, Uplati allows users to create digital payment requests and share them via a link.

Uplati.rs was born from necessity and built for convenience. It’s a free online application that allows you to create digital payment requests and share them with others via a link.

Dusan highlighted the platform’s simplicity and ease of use, drawing comparisons to established solutions like Revolut but tailored for the Serbian market.

The final pitch came from Slovenia’s Ales Furlanic, the founder of Insure.Cap. This startup aims to transform risk management through algorithmically driven augmented underwriting, using AI and computer vision to provide comprehensive coverage.

Our solution is very simple: just take a snap, an image, and receive the insurance coverage. AI agentic capability will perform and execute tasks in the backend.

Ales showcased Insure.Cap’s innovative approach to insurance, leveraging AI to streamline the underwriting process and improve risk assessment.

After each pitching session, the startups brought unique and innovative solutions to the table, making the competition fierce and the investors’ decisions difficult.

The Qualities of a Promising Startup: Challenges and Opportunities

The fireside chat during Demo Day 2024 provided a platform for investors to share their perspectives on investing in fintech startups across the CEE region. This discussion offered valuable insights into the cultural and regulatory challenges that startups face and highlighted the strategies investors use to navigate these complexities.

One of the key themes discussed was the impact of cultural differences on investment decisions and startup operations. The CEE region encompasses a diverse range of cultures, each with its own business practices and market behaviors. Mili Ibrulj from Fil Rouge Capital mentioned:

We are an extremely small market from a global standpoint. For the investors, especially if they are regionally oriented, it makes no sense to divide countries in such a way because then you would lose a pool of potential startups to invest in.

Peter Merc from Suricate Ventures added:

I don’t see cultural fit as an obstacle. Where I see a challenge is in regulated businesses, like fintech or insurtech, where different countries have different regulatory frameworks.

Regulatory environments vary widely across the CEE region, posing challenges for fintech startups looking to expand their operations. Peter Merc added that regulatory frameworks can pose serious obstacles, especially for startups from countries outside the EU regulatory framework. 

The problem is if you have a country or a startup from, let’s say, Serbia, which is outside of the monetary union and the EU regulatory framework, there I see obstacles.

Bojan Jovic from TS Ventures pointed out that regulatory differences can be mitigated by setting up operations in more favorable jurisdictions.

Many startups set up their companies in different areas and states like Ireland or Dubai to avoid regulatory traps.

But despite these challenges, investors emphasized the importance of the founder’s ambition and vision alongside the innovation of the product itself.  Tina Kastrevc from South Central Ventures highlighted the importance of early-stage support. 

The relationship starts before we wire the money. For us, it’s connecting them with what we think might be a potential good ICP [Ideal Customer Profile] and then going from there.

Mili Ibrulj highlighted that while technical strength and market fit are crucial, the determination and boldness of the founders are what truly make a startup stand out.

The most important thing is the founders themselves and their ambitions. For us, it’s crucial to understand how different the startups are compared to tons of similar platforms out there currently.

This sentiment was echoed throughout the event, with investors looking for founders who not only have a great idea but also the drive to see it through and scale it effectively.

Bojan Jovic emphasized that while there is substantial innovation, there is also a need for further development and adoption of fintech solutions.

It’s really about the maturity of the market. We’re still a young market, trying to adopt new options that we see abroad.

Investors noted that startups need to be flexible and creative in their approach to overcome regulatory and market challenges. Despite them, the CEE region has a strong talent pool and a culture of innovation. 

The startups showcased at Demo Day demonstrated creative solutions to pressing financial issues, reflecting the region’s potential. That being said, the future of fintech in the CEE region looks promising.

There is huge potential for greater collaboration between countries in the region. By sharing resources, knowledge, and networks, fintech startups can overcome market limitations and drive regional growth.

As the CEE fintech landscape continues to evolve, events like Demo Day and UNCHAIN Fintech Festival will play a vital role in connecting startups with investors and facilitating the exchange of ideas. With continued support and collaboration, the CEE region can become a powerhouse in the global fintech arena.

In the past few years, we’ve had the pleasure of not only interacting but awarding the best fintech start-ups that made their mark in the industry. Two such examples are Synapze and Filmchain, both celebrated for challenging traditional banking systems and redefining the ways in which financial transactions and services are made.

Today, we’ve had the pleasure of catching up with them and discussing how they approach fintech innovation, exploring their strategies, challenges, and the insights they have gained along the way.

The Growth of a Fintech Startup 

Modern finance can be tough. In this landscape, it’s up to each startup to successfully use regional resources and build strong local networks to grow. Both FilmChain and Synapze had their own way of doing this—effectively leveraging these regional assets to expand their operations and refine their offers.

FilmChain: Facilitating Real-Time Royalty Payments

FilmChain’s approach to growth involves tapping into a variety of global markets, each with its distinct regional resources. Co-founder Maria Tanjala explains their mission: 

Concerned with the slow and opaque settlements in film, TV and games, we built FilmChain to pay participants their royalties in real-time. 

Maria Tanjala

This solution addresses the massive inefficiency in a lucrative industry where a significant portion of revenues can go missing due to outdated practices. 

Access to immediate cash flow is a huge problem in the £280B industry, where up to 30% of revenues go missing. The opacity is provoking big shifts in legislation in Europe, after the European Commission assessed that such a lucrative sector is bleeding money lost to human error and poor accounting practices. We have 1,900 clients that we pay entitlements to in near real-time.

Maria Tanjala

This is, of course, amazing, especially with the company’s strategy extending across continents:

The productions are set up in a variety of geographies: 42% are in the UK, 9% in Australia, 7% in the US, and the rest are in Europe. But we also have productions in Asia and Latin America.

Maria Tanjala

Maria highlights FilmChain’s global outreach which leverages local market conditions and regulations to optimize their service delivery.

Synapze: Streamlining Financial Services through AI

On the other side, Synapze has created a niche for itself by aligning its artificial intelligence solutions with the conservative nature of the financial sector. Their approach emphasizes gradual integration over disruptive innovation, a strategy that resonates deeply with most local traditional banks and regulatory frameworks. The founder of Synapze, Rohit Bhosale, states:

Most people think that AI is going to be a revolution… out with the old and let’s do something brand new. But none of the banks in this world are going to do that. Just not going to happen.

This realization has led them to focus on incremental improvements that customers are more likely to accept. Instead of advocating for a complete overhaul of existing systems, Synapze proposes what they call an ‘AI evolution.’ This approach targets specific inefficiencies within the process, enhancing them with AI to achieve measurable gains without disrupting the core operations. 

Can I keep my process that I have and maybe find some really weak points in my process which are consuming time, resources, energy, and improve that portion so that I can get maybe 5%, 10% incremental efficiency gain? And if that works or doesn’t work, I can still go to the manual process. If it works, I’m happy. Then maybe let’s try the next one. And then maybe try the next one

Rohit Bhosale

Synapze’s careful and considered approach to integrating AI within the industry illustrates a key strategy in fintech development: understanding and respecting the pace and comfort levels of traditional financial institutions.

Discussions With Financial Investors

Succeeding in this industry requires more than just innovative technology. You need strong relationships with investors who are committed to the sector’s growth. FilmChain’s approach to investment emphasizes the importance of strategic partnerships and the acquisition of ‘smart capital.’ The company focuses on investors who bring more than just funds to the table—looking for those who can provide valuable industry insights, mentorship, and connections. 

Like any founder, it is imperative that we find investors who bring smart capital, not just a wire transfer. We sit at the intersection of fintech, blockchain, and entertainment, so we touch upon some great industries where we are looking for mentors and networking.

Maria Tanjala

Their investors come from diverse backgrounds, including fintech space experts who help navigate banking challenges, successful entrepreneurs who provide lessons from their own experiences, and industry insiders from film, TV, and games who facilitate high-end introductions and market openings. This eclectic mix allows FilmChain to strategically position itself at the nexus of technology and creative industries with a business model that aligns both artistic and financial ecosystems.

For Synapze, engagement with investors is closely tied to its strategy of incremental innovation. Rather than seeking out massive funding rounds typical of many tech startups, they look for investors who understand the nuances of AI integration within the heavily regulated banking sector. 

In terms of engaging with investors, we prioritize those who are not just looking for a quick turnover but are genuinely interested in the evolutionary path we are charting in the fintech ecosystem

Rohit Bhosale

The company values investors who appreciate the slow yet steady progress typical of innovations within traditional industries. Their focus is on investors who can support a gradual process of development and integration, mirroring their approach to product implementation.

On stage at UNCHAIN Festival 

In any industry, it’s important to have a platform where you can meet your peers, exchange ideas, and come up with the next big thing. UNCHAIN is where fintech is at home. For both Filmchain and Synapze, UNCHAIN was the platform to connect with the community.

Maria highlights the significance of such events:

It is a fine balance between building brand awareness and visibility and focusing on the business. The roadshow of presentations and festivals can be consuming, so selecting the best stages to speak on is very important in a founder’s work.

FilmChain’s participation in events like UNCHAIN has led to multiple awards, including Startup of the Year at the London Business Awards and Best Investment at the UKBAA, which have further solidified their reputation in the fintech space.

The benefits derived from their participation in the UNCHAIN Festival are just as memorable:

We were honoured to be the winners of the first edition, and I believe that UNCHAIN had an incredible energy. Everyone was attending the festival in Oradea for the first time and felt the responsibility of shaping something outstanding, building the DNA of the festival

Maria Tanjala

Rohit’s viewpoint on visibility and opportunity at UNCHAIN is similar:

Getting your message out is very important, right? It’s not just the marketing and the LinkedIn and all that, but I think standing on stage showing a demo and speaking about it is super, super valuable.

This visibility is particularly crucial for early-stage startups that might otherwise struggle to stand out. The focused nature of the event allows participants to engage more meaningfully with potential partners and clients, facilitating deeper connections.

So I think what I love about Unchain is it’s not a 4,000 to 40,000 people event. It’s a very curated event of very important people from the industry and investors from the industry who are interested in this vertical.

Rohit Bhosale

Some great investment conversations came out from my time in Oradea, and fintech explorations with the likes of Visa. Such ecosystems in CEE are hugely needed. 

Maria Tanjala

As we reflect on the journeys of innovative fintech startups like Synapze and FilmChain, it’s time to turn our attention to the upcoming edition of the UNCHAIN Festival in Oradea. This year’s festival promises to continue its tradition of highlighting fintech solutions by hosting the highly anticipated Fintech Startups Tournament. 

The Startup Tournament offers a unique platform for early-stage startups to showcase their projects, with opportunities to gain recognition, support, and investment from a global audience. For more information about the Startups Tournament and to register for the UNCHAIN Festival, please visit the official event website.

One important pillar of this movement is Make IT in Oradea. This project shows how public support and private know-how can come together in a way that works. It’s an initiative that goes beyond funding into creating a platform where new ideas find real opportunities. We’ve had the pleasure of talking to the people behind Make IT in Oradea and discussing some aspects that make Oradea the next place to start a new business venture.

The Role of The Public Sector

Oradea’s rise didn’t happen in a vacuum. For a while, it happened behind the efforts of the local government, which has carefully laid down the infrastructure needed for tech companies to grow.

The creation of Make IT in Oradea is a prime example of the public and private sectors working hand in hand. It began with open conversations between city officials and local entrepreneurs aimed at pinpointing exactly what the ecosystem needed.

Recognizing the need to accelerate the development of the local innovation startup ecosystem, the public sector initiated an open dialog with the local private stakeholders and entrepreneurs to better understand the needs of the local startup ecosystem. The results of the discussions were a unique joint initiative.

David Achim, Executive Director, Make IT in Oradea

This type of collaboration was exactly what an initiative like Make IT in Oradea needed. It wasn’t about creating a simple platform that helped startups get off the ground. For the founders, it was always about ensuring they had everything they needed to succeed –  from the right mentorship to key networking opportunities. 

And with the continued effort by the public sector to unite vision and expertise under one roof, projects like Make IT in Oradea, are set to transform the city into a place where startups don’t just launch but can actually make regional impacts.

Make IT in Oradea: Building the “Smart” Infrastructure of the City

For the locals, Make IT in Oradea it’s the initiative that gets down to business by directly addressing what startups actually need to grow and succeed. At the core of the project is the Bright Labs Incubator, which sets itself apart from your average startup support program by providing more than a “one-size-fits-all” solution.

Contrary to traditional startup programs that often provide only surface-level support and tend to adopt a generic approach & frameworks, Bright Labs is designed to offer a uniquely tailored, holistic, intensive, and deeply integrated experience to nurture founders at every stage of their journey.

David Achim, Executive Director, Make IT in Oradea

The Incubator gives each founder exactly what they need to take their startup from an idea to a fully operational business. What’s on the table if you’re a potential founder? Well, you can expect personal mentoring, hands-on support from seasoned pros, in-depth training sessions that actually teach something useful, and connections that open real doors. 

Not to mention that if you need funds, they’ve got up to €50k in equity funding, plus a cool co-working space in Oradea Fortress to hash out your ideas and mix with other founders. And yes, they’ll even help cover your living expenses while you’re building your dream.

Bright Labs Incubator is not the perfect program…we don’t believe in perfect…but it is the most life-changing experience you’ll get as an early-stage founder, at least in CEE…maybe even in Europe!

David Achim, Executive Director, Make IT in Oradea

Local Innovation With a Global Impact

The excitement behind Oradea’s ecosystem can be measured by its success stories. The city can proudly showcase a portfolio of ventures that have gone big and global. Creatopy is such an example. A homegrown company in the creative design software market that snagged an amazing $10 million in Series A funding last autumn. It’s one of many votes of confidence in Oradea’s ability to grow top-tier startups that catch the eye of big-time investors.

Then there’s Appointfix, now rebranded as Goldie – a successful exit within the ecosystem, having been bought out by Universe Software, a SaaS holding company. Another big name is TypingDNA, a cybersecurity company that raised $7 million from Gradient Ventures for its typing biometrics technology.

But it’s not just about the big players. Make IT in Oradea is also nurturing rising stars like Pineapple Square, which landed a spot in Draper University’s prestigious program, and Expert24, which is changing how professionals connect with clients through its services marketplace. 

These stories are just the beginning. With over 70 startups pumped through the Bright Labs Incubator and a financial injection of €215,000 in investments plus €120,000 in grants, Oradea is on the fast track to becoming a hotspot for startups that not only start up but stay up and scale up.

Fintech in Focus

The fintech sector is also rising, supported by initiatives like Make IT in Oradea and events like the UNCHAIN Festival. Fintech is slowly putting Oradea on the map – big time.  

Supporting the UNCHAIN Festival was a strategic decision for Make IT in Oradea, aimed at leveraging the festival’s platform to draw significant international attention to our ecosystem. 

David Achim, Executive Director, Make IT in Oradea

The big deal with events like UNCHAIN is that they throw Oradea’s startups into the ring with global players and opportunities.

The international impact of the UNCHAIN Festival is substantial. By concentrating on the fintech industry, the festival has succeeded in attracting world-renowned experts, investors, startups, and other pivotal stakeholders. Such an event underscores the potential of Oradea’s startups to engage with global trends, challenges, and opportunities within the fintech sector.

David Achim, Executive Director, Make IT in Oradea

Speaking of fintechs, there are some who have something to say in the context of a conference like UNCHAIN. One such example is Prime Dash, a standout story in Oradea’s fintech ecosystem for its rapid adoption and ability to scale internationally. 

This Romanian-British startup is putting CFO-level insights into the pockets of business owners everywhere. Simple, smart, and savvy. This way, Prime Dash has transformed complex financial management into a tap-and-go solution.

Although Oradea is not a traditional center for the fintech industry, the city offers certain advantages. One of the most valuable aspects is access to talented programmers, essential for developing solid and internationally competitive products. […] We are also pleased with the attention that the UNCHAIN Festival brings specifically to the fintech space, putting Oradea on the fintech map and allowing us to connect with other innovators and industry leaders.

Ioana Rus, chairwoman of the board, Prime Dash

A Startup Destination of the Future

As Oradea’s startup ecosystem matures, the vision for its future is ambitious. Make IT in Oradea is setting its sights on making the city a top destination for startup founders not just in Romania but across Central Eastern Europe. Their commitment is built on a strong belief in local innovation and collaboration.

The message we champion is clear: the pathway to building a successful startup does not necessitate leaving Central Eastern Europe for Western countries. We fervently believe, and indeed, we must believe, that we can cultivate groundbreaking startups right here, in our home.

David Achim, Executive Director, Make IT in Orade

The team at Make IT in Oradea sees a different path for local talent — one that doesn’t require heading to Western Europe or Silicon Valley to make it big, and rightfully so. 

Building on the vision laid out by Make IT in Oradea, Bright Labs Incubator is a way to retain talent and attract international founders. It’s a great opportunity to nurture those who possess immense passion and see a clear market opportunity yet may lack a fully formed product or specific idea. If this fits into your story, applications for the Incubator are still open for the 2024th cohort!

Bright Labs is designed to not only attract these burgeoning talents but also to equip them with the crucial tools and knowledge needed to thrive within the competitive landscape of Central and Eastern Europe. By joining Bright Labs, entrepreneurs will immerse themselves in an environment that champions local innovation through comprehensive support, expert mentorship, and peer collaboration. This initiative underscores our commitment to revolutionizing the startup scene right here in Oradea, making it unnecessary for local talent to seek opportunities elsewhere.

David Achim, Executive Director, Make IT in Oradea

Alongside other startups, they plan to keep building up the city’s infrastructure and support systems to better nurture new businesses, drawing both local and international entrepreneurs and investors looking to tap into what Oradea has to offer. 

The geographical proximity to Western Europe, an openness to innovation, and local initiatives that promote entrepreneurship, especially in tech (such as Make IT in Oradea), are important factors. […] We are also pleased with the attention that the Unchain Festival brings specifically to the fintech space, putting Oradea on the fintech map and allowing us to connect with other innovators and industry leaders.

Ioana Rus, board member Prime Dash

The city aims to show the world that innovation and global success can grow out of Central Eastern Europe, showcasing the strength, potential, and dynamism of its startup ecosystem on the world stage.

The study, which surveyed 8,326 consumers across six major economies (Australia, Germany, India, Japan, the United Kingdom, and the United States), indicates a significant unmet demand for better credit solutions. Although embedded lending options such as ‘buy now, pay later’ services and instant credit card offers at checkout are intended to provide convenience, they often fall short of consumer expectations, particularly among younger demographics like millennials who show only a 60% satisfaction rate.

High Interest, Low Usage

Interestingly, while the interest in embedded lending options is high—with 43% of consumers expressing a keen interest in providers offering these services—actual usage in the past three months stands at just 15%. This discrepancy suggests that while the concept is attractive, the execution or the awareness of these services might be lacking.

The study also highlights that consumers experiencing ongoing cash flow issues are more likely to utilize embedded lending services. For instance, 14% of respondents with ongoing financial strain have used these options to pay for essentials like groceries, compared to only 2.3% of those without such financial pressures. This indicates that embedded lending is particularly valued by those in tighter financial situations for managing immediate needs.

There’s a clear message for providers: nearly half of the consumers surveyed expressed a strong interest in switching to services that offer embedded lending, suggesting a significant market opportunity. However, to attract these consumers, providers need to address existing friction points and align offerings more closely with consumer needs and expectations.

Finqware is a leader in providing automation solutions for financial operations, specializing in the TMA (Treasury Management Automation) category. Its platform, based on open banking technology, FinqTreasury, is already successfully implemented in medium and large companies, facilitating efficient treasury management, centralizing bank payments, and automating the reconciliation of receipts.

FwF, a company member of the Arobs Transilvania Software group, represents a collective of approximately 100 specialists dedicated to optimizing and automating business processes. With strategic offices in Romania, the United Kingdom, Germany, and Benelux, the group stands out through prestigious partnerships with globally renowned technology companies such as UiPath, Microsoft, Outsystems, and Celonis. Arobs Transilvania Software is the largest technology company listed on the Bucharest Stock Exchange.

This strategic partnership reflects our shared commitment to providing European companies with innovative and adaptable solutions for automating financial operations at the intersection of RPA technology with emerging technologies, which complement technological capabilities for the benefit of streamlining our clients’ processes

Marius Bene, CEO of FutureWorkForce

We are confident that combining our expertise will bring significant benefits to European companies looking to implement cutting-edge technological solutions, such as the combination of RPA and open banking, to streamline their financial processes.

Cosmin Cosma, CEO of Finqware

This collaboration between Finqware and FwF represents an important step in the evolution of financial automation and is intended to provide European companies with the necessary tools to meet increasingly complex market demands.

For more information about Finqware and FwF, we invite you to visit www.finqware.com  and www.fwfcompany.com.