The seven fintech companies from the Czech Republic and Slovakia that took part in the presentation of business ideas operate in the fields of financing, blockchain, cybersecurity and investing. The jury, made up of experts and investors, was most impressed by the company 4Trans Factoring, which came with an innovative project enabling companies to expand and take advantage of bulk-order discounts using factoring. The audience rewarded the startup Resistant AI, which provides protection for AI systems against targeted manipulation.
„It was very inspiring to see so many innovative projects in one place. Mastercard has long supported emerging fintech organisations through its innovation programmes. It is precisely startups in this field that bring new and often revolutionary ideas, which set the trends for many years to come. At events such as Fintech Engage we can, figuratively speaking, get a glimpse into the future, and I am very pleased at how promising the representatives of the fintech segment are in the Czech Republic and Slovakia,“ says Michal Čarný, the General Manager of Mastercard for the Czech Republic and Slovakia.
Mastercard has long supported emerging fintech companies, and that is why it organises Mastercard Fintech Engage events in selected European cities. This year, for the first time, the event was also held in Prague. The main goal of these gatherings is to support and develop the fintech ecosystem, share beneficial innovations and strive to implement new ideas and technologies into reality.
For fintech startups, participation in Fintech Engage represents a great opportunity. Both the winner of the main Mastercard prize and the winner of the audience prize received the support of Mastercard experts in their further development. At the same time, both companies advanced to the Central European final of Fintech Engage, which will be held in the middle of the year in Berlin.
Participants in the Mastercard Fintech Engage pitching competition:
4Trans Factoring provides the fastest financing solution on the market to small and medium-sized enterprises that are underserved in the field of logistics. The start-up enables companies to expand and take advantage of bulk-order discounts using factoring.
Resistant AI provides protection for AI systems against targeted manipulation, adversarial machine-learning attacks and advanced fraud. It detects document forgery, account takeovers, money laundering and protects against other unknown financial threats operating on a large scale.
PalmApp is a start-up in the Earned Wage Access (EWA) segment, which came with a server solution and a native mobile application providing the employees of their partner companies with early access to their earned money. This is meant to ensure a positive impact on employee satisfaction, performance and stability.
Blockmate combines traditional banking and fintech systems with crypto accounts and effortlessly creates secure, consolidated financial wallets. It provides crypto services with unique 2FA security, data-attribution engine intelligence and integration into 80 % of crypto services.
Corrency comes with an innovative transaction system for the efficient and transparent use of public finances. It makes it possible to distribute subsidy funds directly to people in the regions.
InvestBay is the first platform that combines the higher liquidity of investing in stocks with the lower risks of investing in real estate. It allows users to benefit from a higher return on their investment while maintaining high liquidity and low risk.
DLT software provides an integrated set of tools to support creators of financial technology and the Web3 ecosystem. It also comes with a new application that is meant to help companies grow. DLT software connects companies with new financial technologies and innovations.
Source: Mastercard press release
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