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2017 in Review

 

Now that 2017 is coming to an end, let's take a look at what it had in store for us:

 

 

 

A New Business Strategy

 

Early this year, together with our partners at TIAS School for Business and Society we refreshed our business strategy.

Please know that we have a deep customer intimate approach, while we aim to:

 

  • achieve gradual growth
  • remain independent
  • diversify customer and solution portfolio
  • nurture our team
  • recruit talent that fits and expands our capabilities

 

Most importantly, we listen to needs of the customer and respond with a customized offering.

 

 

TOSS project launch

With help from the EU, as beneficiaries of the Competitiveness Operational Programme 2014-2020, we just embarked on a 2-year journey for developing an innovative open source solution for SMEs and corporate treasuries: FinOps Suite.

The full name of the project is "Treasure Open Source Software – TOSS innovative software development" and you can read more about the project features here and here.

 

A solution for PSD2 compliance

With the revised Payments Services Directive (PSD2) coming into effect in January 2018, and based on the valuable input from its banking clients, Allevo developed FinTP Connect, a software application for the centralized management of requests coming from TPPs (PISP/AISP) on behalf of the final customer.

Read more about it in our press release.

 

New FinTP feature for Instant Payments

FinTP Instant is a new FinTP functionality focused on processing messages supported by the upcoming Instant Payments services.

This will connect bank back-office systems to services offered by CSMs like TransFonD, retrieving payment instructions (in any format provided by these applications), converting them to the ISO 20022 standard and routing them as dictated by the scheme.

We start this implementation by accommodating the service offered by TransFonD on the local market, for RON payments.

 

Our first FMA customer in Moldova

Moldindconbank selected FMA, Allevo's solution for mirroring SWIFT transactions between the production and backup platforms, ensuring business continuity, data integrity and consistency.

After being deemed "the most innovative bank in Moldova" for two years in a row, Moldindconbank now joins the banks in Romania that have opted for FMA in the past years, thus becoming Allevo's first client in Moldova to have successfully implemented this solution.

 

Garanti Bank Romania implemented FinTP

Garanti Bank Romania selected FinTP, Allevo's open source solution to connect to SWIFTNet, ensuring compliance to SEPA standards and regulations, in order to optimize its operations. The bank continues, as such, to grow rapidly on the Romanian market, offering better services to its customers.

By adopting FinTP, Garanti Bank Romania benefits from a technology that drives cost reduction and conveys full control over the source code of the application, thus eliminating the vendor lock-in dependence, while gaining access to a transparent product development process and transparent product audit.

 

Allevo User Group 30

On November 16, we organized the 30th edition of Allevo's User Group Meeting.

With 2018 already knocking on all our doors, the User Group presentation started with a focus on Allevo's projects – past and future, our partnership with SWIFT, as well as the solutions we provide for the newly-regulated financial environment (PSD2, Instant Payments, GDPR), and our renewed certifications (ISO 9001/2015 and ISO/IEC 27001:2013).

 

Our first international FinOps Suite conference

On October 26th, we put together in Chisinau the first international conference linked to our most recent project for SMEs and corporate treasuries: FinOps Suite.

A major focus of this conference was to extend the FINkers United community in Moldova and it brought on stage representatives of the main pillars of the financial and banking environment in both Romania and the Republic of Moldova.

Here's everything you need to know about it!

 

On the panel of SWIFT Business Forum Romania

The 8th edition of SWIFT Business Forum Romania was organized by the Romanian Association of Banks on November 8th in Bucharest.

Gathering around 100 representatives from financial institutions, the conference was focused on celebrating 25 years of SWIFT in Romania, along with debating challenges and opportunities for the financial banking industry and compliance issues. The conference ended with a panel discussion on the inevitable digital transformation, a round table proudly joined. We presented the FinOps Suite project, the FinTP Connect proof of concept that addresses PSD2 compliance and the new feature of FinTP for processing Instant Payments (FinTP Instant).

Our insights from the conference can be found here.

 

Sibos Toronto

Our colleagues, Ioana and Mihai, represented Allevo at the world’s premier financial services event, and they delivered fresh insights on all major topics, like ISO 20022 implementation, open banking threats and opportunities, international payments, cyber risks and malicious insiders, global uncertainties in the financial industry, correspondent banking, instant payments, RegTech, banking APIs, disruption, innovation…

Check out our daily summaries from Sibos 2017!

 

Money20/20 Europe

After a bit of a hassle with a cancelled flight, Allevo managed to land in Copenhagen just in time for Money20/20 Europe, bringing you daily highlights as seen through our lens.

Among others, track sessions focused on case studies and provided insights on hot topics like alternate financing, algorithm-based innovation, legal and regulatory aspects, mobile payments, open banking, legacy systems, machine learning, user experience, cross-border disruption, as well as risk, security and fraud.

 

 

We're looking forward to 2018, especially since we're turning 20, woo-hoo!

 

 

 

 

 

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