2024 in numbers (BG, RO, GR & CR):
€ 5 mln. volume of payment transferred through Open banking per month
70,000 IBANs of 35,000 clients reached their bank accounts via OB
95% of availability of APIs
200+ merchants accept payments with IRISPay
As 2024 draws to a close, we at IRIS Solutions take immense pride in celebrating a year of exceptional achievements. From groundbreaking product launches to forging strategic partnerships, this year has been a testament to our commitment to innovation and excellence in open banking. Our journey has been driven by a singular vision: to empower businesses and consumers with modern, secure, and efficient financial solutions.
Here's a comprehensive wrap-up of our key milestones and a glimpse into what's on the horizon for 2025.
PRODUCTS AND SERVICES
Launch of IRISPay mobile app: Revolutionizing Cardless Payments
In November, we introduced IRISPay, Southeast Europe's first mobile application for cardless banking payments. Designed to offer businesses a modern alternative to traditional card payments, IRISPay reduces costs, optimizes processes, and enhances cash flow.
Integration with SAP Commerce Cloud and Magento
Expanding our reach, IRISPay became available on SAP Commerce Cloud, enabling seamless integration for businesses seeking efficient payment solutions within their existing e-commerce platforms.
Expansion into Croatia
Demonstrating our commitment to growth, we announced our presence in the Croatian market, inviting businesses to join the open banking movement and benefit from our innovative solutions.
NEW PARTNERSHIPS
Collaboration with Nula.bg
In May, we partnered with Nula.bg to enhance financial management for Bulgarian businesses. This collaboration aims to streamline accounting processes and provide real-time financial insights through open banking technologies.
Integration with D Commerce Bank
October saw the successful implementation of a multibanking solution with D Commerce Bank, allowing clients to manage multiple bank accounts within a single app, thereby simplifying financial oversight and improving user experience.
Partnership with BoroBit
This year, we also joined forces with BoroBit, enabling users to integrate their bank accounts directly into the BoroBit platform. Together, we have created a seamless solution for managing finances, empowering users to streamline their financial activities and focus on what matters most.
Partnership with banks and financial institutions
IRIS Solutions has established strong and productive partnerships with banks across the country, the Bulgarian National Bank (BNB), and various financial institutions. Our commitment to innovation and collaboration has enabled us to integrate with over 70 financial institutions across five EU countries.
OPEN BANKING (R)EVOLUTION IN ACTION
More and more businesses are embracing IRIS Solutions' services and products, spanning a wide range of industries. From insurance brokers, dental clinics, and accounting firms to notaries, online casinos, and sports betting platforms, numerous business verticals rely on our solutions in their daily operations. This growing adoption highlights the versatility and value of our offerings
COMPANY UPDATES
Participation in Money Motion 2024
Our team actively engaged in Money Motion 2024, sharing insights on the future of open banking, compliance, and AML, reinforcing our position as thought leaders in the industry.
Participation in the Economic.bg #ALLIN Forum
Galya Dimitrova, managing partner at IRIS Solutions, took part in the panel discussion on "Investments in Innovation: The New Wave."
Participation in Fintech Connect
Mihael Mihaylov, co-founder and COO, and Galya Dimitova, managing partner, represented IRIS Solutions and Bulgaria’s innovation potential and thrive in financial technology at the prestigious Fintech Connect forum in London, UK.
Participation in BANKING 4.0
Our co-founder, Mihael Mihaylov, took part in one of the panel discussions at BANKING 4.0 | NOCASH EVENTS in Sinaia, Romania.
Meet&Greet with students
Our team had the privilege of participating in a lecture with Finance students from University of Plovdiv "Paisii Hilendarski" where the key topic was Open Finance and its abilities of reshaping the industry, creating new business models, and empowering businesses to innovate faster.
IRIS Solutions in the media
Georgi Penev, Director of Growth at IRIS Solutions, introduced IRISPay – our new QR payment app, on Bloomberg TV. He provided some key insights into how this innovative solution is set to revolutionize payment processes by offering businesses faster transactions, reduced costs, and enhanced financial efficiency.
WHAT'S NEXT IN 2025?
"As we approach 2025, our focus is on strengthening our market presence and further empowering businesses with innovative financial solutions. Our goal is to expand the network of banks offering Open Banking services and products, driving financial evolution across the region. By fostering collaboration and innovation, we can shape a future where Open Banking becomes a cornerstone of efficiency, accessibility, and inclusivity,"
-shares Galya Dimitrova, Managing Partner at IRIS Solutions.
Looking ahead, IRIS Solutions is poised to continue its trajectory of innovation and expansion. Our focus for 2025 includes:
Advancing Product Offerings We plan to introduce new features to IRISPay, enhancing user experience and broadening its applicability across various sectors.
Strengthening Partnerships We will continue to forge strategic alliances with financial institutions and fintech companies to foster innovation and deliver comprehensive solutions to our clients.
As we embark on this new year, we remain dedicated to empowering businesses and consumers through secure, efficient, and innovative financial solutions. Stay tuned for more exciting developments from IRIS Solutions in 2025!
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