The Importance of a strong fintech Product: Solving today’s dilemma

  • March 22, 2023
  • Future Banking
  • 2 min read

Fintechs in Romania are getting momentum because they introduced a different mindset in the financial industry and innovative solutions for consumers and companies. Alexandra Manciulea, partner at Filip & Company, gave us a perspective over the Romanian fintech ecosystem.

  • This article is taken from Romania’s Fintech Map by Future Banking. The report is available for download here.

Future Banking: How do you see the fintech ecosystem in Romania?

Alexandra Manciulea: The fintech ecosystem in Romania is developing and we have seen new players joining the environment each year at an encouraging pace. The growth trend was accelerated by the Covid-19 pandemic. Payments, lending and financial infrastructure remain the preferred areas of interest for fintechs, but we expect insurtech, investech and wealth management to catch up in the upcoming future.

Banks remain an important player in the financial digital sector and we have seen interesting partnerships with fintechs emerging alongside an increased trend of banks to develop their own digital solutions. Fintechs have proved agile in difficult economic circumstances, which shows the ecosystem is ready for a new level of maturity. We expect an increase of M&A transactions in the fintech sector. We further expect an increase of the integration of financial services with the customers’ lives.