Lithuanians are one of the game-changers in European financial services sector

February 20, 2014

Lithuanian company Etronika that develops innovative e. banking solution Banktron, two years in a row gained international recognition as a company whose products and ideas change the face of European financial services sector.

In late January at London Google Camp a group of known experts from financial services and technology sectors chose Etronika as one of fifty companies that made into list The FinTech 50 2014. It is compiled by companies whose solutions are destined to make a revolution in financial services sector.

Furthermore, in February Etronika won “Best of show” award for its multi-channel partnership ecosystem solution Banktron at FinovateEurope 2014 conference. Etronika won this award for the second year in a row. This year almost 70 companies from financial services or banking industries presented innovations in a two day event.

“While developing our products we focus on innovation and new technologies. We were among the first in the world, who experimented the idea to use movement- and voice-control in financial markets. Today Banktron platform not only adapts to the user needs but also allows the financial institution to create extensive customer profile and to know him better,” said Kestutis Gardziulis, Etronika CEO.

According to him, extensive customer profile allows the company to evaluate its client’s behavior, needs and to provide relevant information or suggestions at the right time and place. That is crucial, having in mind that clients more often choose use their bank’s services with a help of a mobile phone.

“It is a win-win-win situation for customer, financial institution and its partners. Having a better knowledge about its customer financial institution, while working together with retail chains, telecom companies, other institutions, is able to provide only relevant information and to meet client specific needs. That helps to create a useful ecosystem for all three sides. Furthermore, data about client actions helps us to create an additional security level, which helps to prevent identity theft, fraud and other illegal actions in client account,” said K. Gardziulis.

According to him, financial institutions especially appreciate that Banktron allows to provide services in different channels (web browsers, mobile phones, tablets, etc.) and in all of them user interface and functions remain the same.

One of the last Etronika projects was Estonian bank DNB Pank, which chose Banktron as its main e. banking platform last year.

This video shows how Banktron (version which won “Best of show” award at FinovateEurope 2013) works.

About Etronika
Etronika is an IT company that develops complex and innovative solutions for finance, banking and e-businesses, using the most advanced and secure technologies. Etronika‘s key products embrace a range of internet and mobile banking solutions, online identity applications based on digital signature usage, and systems for electronic retailing.