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figo: OUR WAY FROM ENEMY TO SUPPLIER AND PART OF THE „SYSTEM“

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figo Presentation at wired money conference in April 2016 in Berlin

Published in: Economy & Finance
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figo: OUR WAY FROM ENEMY TO SUPPLIER AND PART OF THE „SYSTEM“

  1. 1. OUR WAY FROM ENEMY 
 TO SUPPLIER AND PART OF THE „SYSTEM“ FIGO IS THE FIRST „REGULATED“ BANKING SERVICE PROVIDER IN EUROPE Picture by Kuster & Wildhaber Photography, flickr April 2016/Berlin WIRED Money Conference
  2. 2. 2012:
 figo started as the nicest consumer banking-app in Germany - in a legal grey area. 
 The objective was to become the user’s financial home and 
 replace the bank as a front-end.
  3. 3. 5 years later: figo will be the first regulated Banking Service Provider in Europe and is part of the system.
  4. 4. ??? How could that happen? A genius strategy 
 or did it happen by chance?
  5. 5. !!!A mixture
  6. 6. By chance
 _Problems with the big „A“ in 2013
 
 _Start of the FinTech boom in 2014 and there was an existing problem in the market
 _New regulatory framework with PSD2 in the EU at the end of 2015
 _Change in mindset at financial institutions/banks
  7. 7. Strategy
 _Good decision regarding the infrastructure in 2012
 
 _The pivot: We changed a „P“ against a „I“ (APP -> API)
 _New team and cap-table
 _Great business angels, seed investors and new additional investors
  8. 8. ???And what is figo?
  9. 9. figo is a b2b player We enable banking Comparable to Payment Service Provider that 
 enable eCommerce
 (e.g. Adyen, Stripe or Wirecard)
  10. 10. The use cases based on figo’s platform demonstrate banking in the „right“ context > 700 partners and developers
 are using the platform right now: banks, CC-schemes, PSPs, corporates, FinTechs, 
 credit bureaus, ISVs, single devs etc.
  11. 11. What we achieved this far 37m API calls 
 in March 2016 >99% Connectivity to financial 
 services in Germany and Austria > 250.000 Users are in touch with figo 43 paying partners 55m Accessible 
 accounts >700
 Developer teams 
 using the platform 2 countries
  12. 12. The latest news: figo is part of your 
 Online-Banking at Deutsche Bank 
 and there is more to come!
  13. 13. André M. Bajorat E-Mail: Mobile: amb@figo.io +49 172 4574783 Address figo GmbH Gaußstraße 190c 22765 Hamburg Web www.figo.io @figoAPI Let’s change the way we bank today!

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