Artificial intelligence dominated the agenda at the fifth edition of UNCHAIN Festival, which brought together more than 1,000 financial and technology leaders from over 40 countries in Oradea. Across two days, 170 international speakers debated topics ranging from agentic AI and digital identity to stablecoins, the Digital Euro, fraud prevention, and the future of banking.

But after speaking with executives from Visa, Finshape, Creatio, Tremend, AMICredit, and disruptive strategy training & consultant Andrew Taylor, along with other companies building financial technology across Central and Eastern Europe, one thing became clear: the most interesting conversations were no longer about AI itself.

No one questioned whether artificial intelligence would reshape financial services. That debate appears to be over.

Instead, discussions focused on a different set of questions. How do banks integrate AI into decades-old core systems? How do they ensure compliance with increasingly complex regulations? How can organizations deploy AI without compromising trust, security, or customer experience? And perhaps most importantly, what happens to employees as intelligent agents begin taking over an increasing share of routine work?

Although each interview explored a different corner of the financial ecosystem—from payments and lending to insurance, CRM platforms and digital strategy—the same themes surfaced repeatedly. Together, they paint a picture of an industry moving beyond experimentation and into a far more demanding phase: implementation.

AI is no longer the question. Implementation is.

Perhaps the strongest common thread across all eleven interviews was how much the conversation around AI has matured.

Only a year or two ago, discussions at financial conferences often revolved around whether banks should embrace generative AI at all. At UNCHAIN Festival 2026, that question had effectively disappeared. Executives no longer debated the technology’s potential. Instead, they discussed deployment models, governance frameworks, customer trust, integration with legacy infrastructure, and measurable business outcomes.

Catalin Cretu, General Manager of Visa for Romania, Bulgaria, Croatia and Slovenia, pointed to changing consumer behaviour as evidence that the market has already moved forward.

“More than 50% of online users now use AI tools to search for products and compare prices,” he explained.

For Visa, that behavioural shift is driving the development of what the company calls agentic commerce, AI-powered assistants capable of searching for products, comparing offers, and eventually completing purchases on behalf of consumers. Rather than replacing existing payment infrastructure, these AI agents rely on trusted payment networks to authenticate users, prevent fraud, and execute transactions securely. Pilot projects are already underway, with broader deployment expected over the coming year.

The discussion at Finshape reflected a similar shift, but from the perspective of traditional banking.

“Banks are no longer asking whether AI works,” said Dan Toderici, Country Manager Romania at Finshape. “They’re asking how to restructure their systems so AI can actually function.”

That distinction is significant. The competitive advantage is no longer simply adopting AI. It lies in building the organisational and technological foundations that allow AI to deliver value consistently and securely.

Anton Solodkyi, Customer Success Director at Creatio, observed the same evolution while working with banks deploying AI-driven CRM and loan origination solutions. The technical capabilities already exist, he explained. The challenge is integrating them into highly regulated environments without disrupting existing operations.

Taken together, these conversations suggest that the financial sector has entered a new phase of AI adoption. The technology itself is no longer the limiting factor. Success increasingly depends on execution—how institutions redesign processes, prepare data, train employees, and establish governance models that allow AI to operate safely at scale.

In other words, the competitive question has shifted from “Should we use AI?” to “Can our organisation actually support it?”. That challenge extends beyond technology. As Carlos Parker, Head of Arxia’s AI Acceleration Program, recently told Startups&TheCity, the future of AI inside companies may depend less on the models themselves and more on leadership, organizational culture, and change management. Through the AI Acceleration Program, Arxia focuses on helping organizations bridge exactly that gap—moving from AI experimentation to AI embedded in everyday business operations.

Legacy systems—not AI—have become the industry’s biggest bottleneck

If there was one challenge mentioned more often than any other during the interviews, it wasn’t artificial intelligence itself. It was everything that came before it.

For decades, banks and insurance companies have built technology stacks by adding new systems on top of existing ones. The result is a complex web of core banking platforms, customer databases, CRM systems and internal applications that were never designed to support AI-driven decision making.

Several interviewees described this legacy infrastructure as the single greatest obstacle to AI adoption.

Marius Scarlat, Head of Product Management CEE at Tremend, sees this challenge every day while helping banks modernize their digital services. Although AI has already been successfully deployed in projects such as customer onboarding and relationship management for major European financial institutions, including Lloyds Bank, implementation is rarely straightforward.

“Banking is one of the most regulated and traditional industries,” Scarlat explained. “Technology alone isn’t enough. You have to earn trust, understand existing processes and modernize them carefully.”

That gradual approach reflects the reality of enterprise banking. Replacing core systems is rarely an option, so most institutions are looking for ways to introduce AI without disrupting the infrastructure they already depend on.

Dan Toderici described a similar situation from Finshape’s perspective. Rather than replacing legacy platforms, the company builds a middleware layer that sits between existing banking systems and modern AI-powered applications. Its role is to organize, clean and contextualize fragmented customer data before it reaches AI models.

Without that intermediate layer, even the most advanced AI solutions struggle to produce reliable results.

Anton Solodkyi, Customer Success Director at Creatio, believes this explains why many AI initiatives fail to move beyond the proof-of-concept stage.

“Organizations often focus on the AI itself,” he said. “But the bigger challenge is understanding and documenting the business process you’re trying to automate. If the process isn’t clearly defined, an AI agent won’t fix it.”

His observation highlights a recurring misconception surrounding AI adoption. Automation doesn’t compensate for operational complexity—it amplifies it. Organizations with fragmented processes simply expose those weaknesses faster when AI enters the equation.

The same challenge extends beyond banking.

Sándor Székely, who develops embedded insurance solutions in Hungary, said that launching new AI-powered insurance products is rarely limited by the technology itself. Instead, the biggest delays occur inside insurance companies that must integrate new digital products into legacy policy administration systems built years—or even decades—ago.

The technology is ready.

The infrastructure often isn’t.

Across banking, insurance and enterprise software, the pattern was remarkably consistent: AI is exposing technical debt that many financial institutions have accumulated for years. Before organizations can become AI-first, they first need to modernize the digital foundations on which AI depends.

In the AI era, clean data has become a competitive advantage

Closely connected to legacy infrastructure is another theme that surfaced repeatedly throughout the interviews: data quality.

Every executive agreed that AI is only as good as the information it receives.

That may sound obvious, but in financial services it represents one of the industry’s biggest transformation challenges.

Banks typically operate dozens of disconnected systems built over many years. Customer information is scattered across different databases, product lines and business units, making it difficult to create the unified view that modern AI applications require.

“Banks are investing heavily in AI,” Dan Toderici explained, “but before AI can generate meaningful insights, the data has to be structured, cleaned and connected.”

Finshape addresses this challenge through a customer data platform that creates a unified customer profile across multiple banking systems. Once that foundation exists, AI can deliver personalized financial recommendations, targeted marketing campaigns and intelligent customer interactions.

One of the company’s flagship examples is its collaboration with Raiffeisen Bank Romania. What began as a digital loyalty application has evolved into an AI-powered personalization platform with more than one million active users. The system analyzes customer behavior and transaction history to deliver highly personalized offers inside the bank’s mobile application—demonstrating that AI creates value only after the underlying data has been properly organized.

Creatio faces similar challenges from the CRM side.

According to Anton Solodkyi, many organizations underestimate how much preparation is required before AI agents can automate business workflows.

“Structured information is the foundation,” he explained. “Without it, even the smartest AI agent has nothing reliable to work with.”

Tremend has reached the same conclusion internally. Beyond client projects, the company is increasingly using AI to accelerate software development and modernize legacy code through proprietary tools such as Backlog AI and Slingshot. Even there, however, human review remains essential to validate AI-generated outputs before they become production-ready.

Taken together, these conversations suggest that data has become the new competitive advantage in financial services.

The race is no longer about who has access to the latest language model. Those models are becoming widely available.

The real differentiator is who has built the cleanest data architecture—and therefore who can generate the most reliable, secure and context-aware AI experiences.

AI is changing work, not eliminating it

One of the clearest divergences between public perception and real-world deployment of AI in financial services is what actually happens inside organizations once automation is introduced.

The expectation is often substitution. The reality, across multiple interviews, is reconfiguration.

At AMICredit, the introduction of AI agents fundamentally changed how work is distributed inside the company—but not in the way many might expect. Rather than reducing headcount, the organization expanded.

Karoly Totos, CEO of AMICredit, described a system where AI handles repetitive, structured tasks such as onboarding and customer communication, while human employees shift toward higher-value operations.

“We’re hiring more people, not fewer,” he explained. “AI agents handle repetitive tasks, making the whole organization more productive.”

The impact is measurable. Onboarding workflows that previously consumed up to 40% of employee time have been largely automated. IT costs have been reduced by nearly half, while customer retention in AI-assisted flows has increased by 15–20%.

But the deeper change is not operational efficiency. It is the redefinition of what human work inside financial organizations actually is.

A similar shift is visible in broader discussions about the labor structure of financial services.

Visa’s perspective on agentic commerce highlights a future where AI systems increasingly handle discovery and comparison tasks on behalf of users. Andrew Taylor, who studies strategic disruption, frames this shift in broader terms: routine cognitive tasks are gradually moving toward machine execution, while humans transition toward supervision, validation, and system-level decision-making.

Across all interviews, a consistent pattern emerges: AI is not removing humans from the system—it is moving them up a layer in the decision hierarchy.

Human oversight remains a structural requirement, not a temporary phase

Despite rapid advances in automation, no interview suggested a future in which financial systems operate without human intervention.

Instead, a consistent governance model appears across banking, insurance, CRM systems, and payment infrastructure: AI proposes, humans decide.

At Creatio, this principle is embedded directly into CRM and workflow automation systems. AI agents assist in loan origination and customer service processes, but final decisions remain with human operators.

Anton Solodkyi described this as a design constraint rather than a limitation.

“AI generates recommendations, but humans make the final decision,” he said.

The reason is not technological weakness but regulatory and operational reality. In highly regulated industries such as banking, full autonomy introduces unacceptable levels of risk—both in terms of compliance and reputational exposure.

Tremend’s experience reinforces this view. Even in advanced implementations such as AI-driven onboarding and relationship management systems used by major European banks, human validation remains a core component of the workflow.

Visa’s experiments with AI-driven commerce also depend on human confirmation before transactions are executed, particularly in early deployment phases.

Across all cases, the same architectural principle appears: AI systems are being designed as decision-support layers, not decision-making authorities.

Regulation is no longer a barrier—it is a design constraint

If earlier phases of fintech innovation often framed regulation as friction, the interviews suggest a more mature relationship has emerged between AI systems and regulatory frameworks.

Rather than slowing adoption, regulation is increasingly shaping how AI systems are built from the ground up.

In insurance, compliance requirements were a central factor in deployment timelines. Sándor Székely noted that achieving regulatory approval for AI-driven insurance products required extensive validation processes, including data privacy assessments and alignment with national authorities.

Even when the underlying technology is ready, institutional approval cycles can extend implementation timelines to several months.

Similarly, Finshape’s work with banks across Central and Eastern Europe shows that GDPR compliance and data governance are no longer treated as external constraints but as embedded design parameters in system architecture.

Narcis Nagy highlighted a related dynamic: organizations are under pressure to demonstrate AI capability quickly, but must still align with strict European regulatory frameworks such as the EU AI Act.

This creates a structural tension between speed and compliance—but also a clear directional shift. Instead of resisting regulation, companies are increasingly designing systems that assume it from the start.

The result is a quieter but significant transformation: regulation is becoming part of the AI architecture itself.

The pressure to adopt AI is driven by competition, not strategy

While much of the discussion around AI adoption focuses on technological readiness, one of the more subtle insights from UNCHAIN 2026 is that the primary driver of adoption is not internal transformation agendas.

It is external pressure.

Organizations are not adopting AI because they have fully mapped out long-term strategies. They are adopting it because competitors already have.

Narcis Nagy, General Manager & Cofondator at RELOAD CONCEPT described this dynamic directly, noting that the pressure to implement AI often comes from the market rather than internal leadership teams.

“The pressure comes from competition,” he explained. “Not from within the company itself.”

This creates a paradox. Companies accelerate AI initiatives not necessarily because their systems are ready, but because standing still is no longer an option.

Andrew Taylor’s strategic framing adds another layer to this observation. In environments where technological change is accelerating, organizations increasingly shift from predictive planning to adaptive response. Strategy becomes less about forecasting outcomes and more about reacting to systemic shifts initiated elsewhere in the ecosystem.

Across both perspectives, the implication is clear: AI adoption is becoming less of a strategic choice and more of a competitive necessity.

Conclusion: finance is being rebuilt, not disrupted

Across the eight interviews spanning payments, banking infrastructure, insurance, CRM systems, and strategic consulting, a coherent picture emerges.

Financial services are not undergoing simple technological disruption. They are undergoing structural reconstruction.

Artificial intelligence is already embedded across multiple layers of the financial system. But its integration is constrained by legacy infrastructure, fragmented data, regulatory frameworks, and institutional trust.

As a result, the dominant model emerging across the industry is not autonomous AI-driven finance, but supervised intelligence operating within tightly governed systems.

Visa’s agentic commerce, AMICredit’s AI-driven onboarding, Finshape’s data infrastructure, Tremend’s enterprise deployments, and Creatio’s CRM agents all point toward the same reality: AI is becoming embedded, but not independent.

And perhaps the most important insight from UNCHAIN 2026 is this:

The defining challenge of the next phase of financial transformation is not building more capable AI systems.

It is building financial institutions capable of absorbing them.

Read also: Riding the AI Wave: Why the Real Challenge Is Not Technology, but Change, a related interview on how organizations can navigate the shift from AI experimentation to execution.

The post Beyond the AI Hype: What Fintech Leaders Revealed About the Future of Financial Services at UNCHAIN Festival 2026 appeared first on Startups&TheCity.

The historic Oradea Fortress in Romania is set to become the epicenter of European financial innovation on June 17–18, 2026, as it hosts the 5th anniversary edition of the UNCHAIN Festival. This high-level summit will bring together over 800 senior leaders and decision-makers from more than 40 countries, representing a unified front for the future of finance in Central and Eastern Europe (CEE).

A Distinguished Keynote and Global Participation

This year’s summit is headlined by Prof. Marek Belka, former Prime Minister and Finance Minister of Poland. A renowned economist with a career spanning the IMF and the European Parliament, Prof. Belka will provide critical insights at the intersection of economics and public policy.

He will be joined by an elite lineup of:

• Central Bank Governors from across the CEE region.
• Regulators from the European Commission and the European Banking Authority.
• Industry Giants and disruptors from Romania, Bulgaria, Hungary, and beyond.

Navigating the “Finance Fortress”

Moving beyond the “fintech” label, the 2026 edition adopts the theme of the “Finance Fortress,” focusing on regional resilience and the “EU Inc.” vision. The agenda is designed to tackle the most pressing challenges of the decade, including:

• The Digital Euro: Modernizing payments while preserving monetary sovereignty.
• AI Governance: Moving AI from a “blunt tool” to an internal efficiency engine in banking.
• Asset Tokenization: Leveraging DLT to enhance capital market efficiency.
• Cybersecurity: Ensuring operational resilience under the DORA framework.

Spotlight on Innovation

A dedicated segment of the festival will showcase the most dynamic ecosystems in the region, providing a platform for top disruptors from the CEE and Baltic countries. “UNCHAIN Festival was created for meaningful dialogue,” says Alexandra Pollack, Founder and CEO. “The 2026 edition marks a significant step in connecting ecosystems to accelerate innovation”.

The event will conclude by honoring excellence through the UNCHAIN Awards, recognizing the most outstanding innovators shaping the regional financial landscape.

Tickets are almost gone. Secure your spot now: unchainfestival.com/tickets.

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On June 17–18, 2026, Oradea will host the fifth edition of UNCHAIN Festival, one of the leading finance and technology events in Central and Eastern Europe. The organizers expect more than 800 senior leaders from over 40 countries, including representatives from banks, fintech companies, regulators, payment networks, and technology providers.

This year’s focus is on closing execution gaps and addressing the structural risks created by legacy infrastructure and rapid AI adoption.

Over the past five years, the financial ecosystem across Central and Eastern Europe has undergone a quiet but profound transformation. What began as an urgent push for digitisation has evolved into a deeper reconfiguration of how finance is built, distributed, and experienced, from the unbundling of legacy banking infrastructure and the rise of embedded finance to the convergence of payments, credit, loyalty, and data-driven decision-making.

Insights gathered across previous editions of UNCHAIN Festival and distilled in its sector whitepapers point to a clear direction: finance in CEE is no longer defined by isolated products or institutions, but by ecosystems. Banks are navigating legacy “spaghetti” infrastructures while experimenting with parallel core systems and AI-driven internal automation. Retailers are moving beyond transactions toward experience-first models where payments, lending, and loyalty blend seamlessly into the customer journey. Meanwhile, fintechs are no longer challengers at the edges, but integral players shaping interfaces, expectations, and speed.

Against this backdrop, UNCHAIN Festival returns to Oradea on 17–18 June 2026, offering unparalleled networking opportunities, exclusive industry insights, and strategic connections for over 800 senior leaders and decision-makers from more than 40 countries. This event marks its 5th anniversary and has evolved into a comprehensive platform that connects financial institutions, regulators, technology providers, and industry leaders at a time when alignment has become a strategic necessity.

“During the first four years of the UNCHAIN Festival, we have seen a lot of international cooperation and merchant integration. Technology combines various verticals even more closely. Many non-banks are now entering the financial services market by offering embedded finance options or loyalty/crypto products to their customers. There are many challenges with regulation, but this is exactly why we’re bringing everybody to the same table – so law can keep up with innovation, and vice versa. Technology adoption, as in digital-first and customer-vertically specialized, continues to develop. Neobanks, digital brokers are getting more and more prolific,” says David Pollack, Managing Partner at UNCHAIN.

From Fintech Disruption to Financial Integration

As geopolitical uncertainty, regulatory pressure, and economic fragmentation continue to test Europe’s resilience, UNCHAIN 2026 positions itself at the intersection of these forces, fostering dialogue around regional integration, trust, and execution. The event aligns with the emerging EU Inc. vision and aims to strengthen Europe’s internal economic cohesion, making it a vital platform for stakeholders committed to regional resilience and innovation.

In its fifth year, UNCHAIN reflects the maturity of the ecosystem it serves. Fintech is no longer a vertical; it is embedded across banking, payments, retail, mobility, and public infrastructure. The 2026 agenda will cover critical topics such as programmable capital markets, embedded financial models beyond checkout, hybrid digital–human banking experiences, and the role of AI as an internal efficiency engine rather than a blunt customer-facing tool.

These discussions build directly on patterns observed over time at UNCHAIN: banks seeking clarity over ownership versus partnership, merchants pushing back against outdated loyalty and cashback mechanics, and regulators grappling with frameworks designed for a world that no longer exists.

Industry Voices on Innovation and Regulation

Erik Barna, Co-Founder of FaraGrija.ro, highlights the growing exchange between banking and insurance: “Insurance is the smallest brother of banking. Instead of borrowing from insurance, banking can inspire innovation in insurtech. Directives like PSD2 boosted fintech startups; we need something similar for insurance.”

Similarly, regulators are navigating new challenges at the intersection of data, AI, and innovation. Ivana Jolic, Director at the Croatian National Bank, explains: “Credit risk AI needs vast data, but GDPR restricts usage. We must find a balance for keeping systems safe while fostering innovation.”

Michal Vodrážka of the Czech National Bank adds: “Instant payments should be the norm without over-reliance on law. We focus on improving existing infrastructure while monitoring developments like the digital euro.”

From the merchant perspective, Ciprian Pîrv, Country Managing Director at Payten, observes: “Merchants want seamless payment methods that are stable and error-free. Innovation drives adoption when it delivers direct benefits and competitive advantage.”

Scale, Continuity, and Regional Relevance

What started as a 350-delegate gathering has grown into one of the most influential financial platforms in the region. Across its previous editions, UNCHAIN has brought together well over 2,000 participants, creating a cumulative, cross-border community of decision-makers shaping the future of finance in CEE.

With approximately 75% of attendees from the financial sector, UNCHAIN has become a reference platform for meaningful, outcome-driven conversations that can shape how finance is understood in CEE.

“The fifth anniversary represents more than just a chronological milestone; it marks a fundamental shift in our regional impact. We are moving beyond the ‘fintech’ label because the challenges of 2026 — liquidity, credit access, and risk management — require a unified ‘Finance’ front. By transitioning from the ‘Fintech Fortress’ to the Finance Fortress, we are inviting the entire spectrum of the financial industry to Oradea to ensure that CEE remains a cohesive, innovative, and resilient economic bloc within the European Union. EU Inc. will definitely be a big topic this year at UNCHAIN“, says David Pollack, Managing Partner at UNCHAIN. 

Reflecting on the momentum behind the 2026 edition, Eliad Saporta, Founder & CEO of Coriunder and long-time UNCHAIN contributor, notes: “What we are seeing across banking and payments is not a race for the next shiny feature, but a recalibration of roles. In 2026, the real competitive advantage will come from institutions that understand context, knowing when to automate, when to intervene, and how to stay visible in the moments that matter most to customers. This is exactly the type of conversation UNCHAIN.”

Mr. Saporta’s contribution at UNCHAIN 2026 will further explore how infrastructure choices, AI governance, and embedded finance models are reshaping short- and medium-term strategies across Europe’s financial institutions.

A Platform for Connection and Execution

Hosted within the historic Oradea Fortress, UNCHAIN 2026 continues to combine strategic content with a highly curated networking environment, offering brands and institutions full exposure to the CEE market in a single setting. The event brings together private-sector leaders alongside central banks, regulators, and global networks such as Visa, reinforcing its role as a bridge between policy, innovation, and real-world execution.

As Central and Eastern Europe moves from catching up to actively shaping Europe’s financial future, UNCHAIN Festival stands as the place where that future is debated, challenged, and built.

Tickets and registration are available here: unchainfestival.com/tickets/.

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The Unchain Fintech Festival‘s 2023 edition which took place in Oradea’s fortress, located in NW Romania, was hailed as the Davos summit for digital banking in the CEE region by its organizers and received great acclaim from the attendees. Taking place between 29-30 June, the event drew over 450 esteemed finance professionals who engaged in a two-day business marathon filled with fintech panels, networking opportunities, startup presentations, lively parties, and a plethora of other activities.

“The event is like a dream come true, as it was my dream to have a Central Eastern European forum, like a festival, where innovation springs out and all the people collaborate and discuss what’s next in FinTech in CEE. And my next dream is to establish it like the Davos summit for digital banking in the CEE region”, declared Cosmin Cosma, co-founder of Unchain Fintech Festival and CEO and co-founder of Finqware.

The event took place shortly after the European Commission introduced four regulatory packages that will have a significant impact on the banking sector in Europe in the coming years. These packages include the Open Finance Initiative, the PSD3 proposal, the green finance proposal, and the digital Euro. Consequently, discussions revolved around topics such as open finance, open banking, digital Euro, and CBDCs.

A prevalent viewpoint centered around digitalization, with certain banks expressing their ability to enhance digitalization. However, concerns were raised about potentially alienating individuals who have yet to fully embrace digital banking. Consequently, these banks are somehow slowing down the pace of digitalization to cater to all audiences, including those who have not fully transitioned to digital platforms. Similar sentiments were shared regarding CBDCs, with questions raised about the timeline for their implementation. Some central banks acknowledged the need for education and widespread adoption to achieve the desired outcomes.

Nevertheless, banks have undergone a significant transformation, shifting their focus towards prioritizing user experience and leveraging technology. This shift has propelled them to adopt a more akin approach to tech companies, continuously developing advanced solutions to enhance client satisfaction. In this process, banks have faced the challenge of effectively managing the delicate balance between compliance requirements and ensuring a seamless digital customer journey.

While last year witnessed fervent discussions around cryptocurrencies and widespread interest in them, this year the conversations surrounding cryptocurrencies were more subdued. However, a clear trend emerged indicating the rapid acceleration of mobile banking. Although people still rely on traditional payment methods such as plastic cards, there is an increasing shift towards mobile devices and wearable technology. Contactless payments have already become the norm, and the transition from cards to mobile devices is expected to occur swiftly. Additionally, the desire for instant gratification among consumers is driving the demand for instant payments and refunds

Regarding blockchain technology, there is now a broader range of applications being explored. Although blockchain has often been associated with cryptocurrencies, its potential extends beyond that. One notable use case is cross-border payments between companies, particularly in the context of the booming e-commerce industry. The convergence of face-to-face and online commerce has already been observed, but there are still numerous untapped use cases yet to emerge.

Within the field of financial technology, specialists identify two prominent trends. Firstly, there is a focus on B2B FinTech, where companies provide technology-based financial services to banks and financial institutions. This sector currently garners significant attention from investors and the industry, as it offers enhanced efficiency and additional services. Secondly, specialists foresee substantial potential for B2C FinTech in underbanked and underserved regions of the world, particularly in Africa, where accessing banking services and facilitating payments is challenging.

Banks and FinTechs are commonly perceived as competition, which holds true to a certain extent. However, it is essential to recognize the potential for collaboration and synergistic partnerships between banks and fintech companies. This collaboration can significantly enhance the ability to swiftly deliver enhanced services to customers, thereby creating a mutually beneficial environment.

“I think the first and the most fundamental thing is that banks and fintechs understand one crucial rule and this is that if you look at the overall revenues which are in the financial market, banks and fintechs are not fighting for the same amount of revenues, if there is a cooperation between bank and fintechs, the total revenues of services delivered on the market can grow. That means that if there is fruitful cooperation, then the total share of services on the market grows, the revenue grows and the client satisfaction grows, so it’s not fighting for the same resources, it’s enlarging what’s on the table for the whole financial market.”, said Martin Marek, Unicorn Attacks Co-Owner and Seed Starter Venture Capital Founder.

“In our case, for example, we’ve onboarded several fintechs in our applications, and not just in the wallet mobile application that we are delivering to the customers but also as layers towards the delivery of other services. We do need to improve every single day the experience that we deliver to our customers”, added Oana Ilas, Deputy CEO, Head of Retail Banking, Banca Transilvania, Romania.

The recognition for the Digital Bank of the Year in CEE went to Tatra Banka from Slovakia, for their exceptional commitment and ongoing activity in supporting digitalization and providing convenient digital banking experiences. Specifically, for having the highest penetration of mobile payments in F2F transactions in CEE and for taking the initiative to distribute NFTs to their staff.

Regarding the startup competition, the judges were impressed by the participation of teams from across Europe. These startups had already made considerable progress, demonstrating maturity, client experience, revenue generation, and extensive business expertise. The judges greatly appreciated these attributes, as they showcased the startups’ profound understanding of their respective domains. The selected winner of the competition was chosen Synapze GmbH, an end-to-end automation platform for the financial services industry which makes decision-making efficient with the power of AI.

The organizers of the Unchain Festival are bound to create the next year’s event with the same consistent mission of growing fintech in CEE and putting in motion the right wheels to generate innovation. Bringing leaders, doers and visionaries together in the right setup is the key to further accelerating the region`s potential for stellar fintech products.

“Unchain Fintech Festival is an excellent space to connect with industry leaders, share insights, and explore the latest trends and advancements that are shaping the future of payments. Visa is a longstanding champion of the fintech sector, playing an instrumental role in shaping the fintech environment that we know today. We work with fintech of all shapes and sizes to understand the challenges and opportunities they face, and provide the bespoke guidance and tools they need to scale and develop the next generation of seamless payment experiences that can benefit thousands of businesses and billions of consumers. Our “open” approach, means Visa partners can take advantage of our technology and security to constantly innovate and access best-in-class innovation”, stated Catalin Cretu, General Manager, Romania, Bulgaria, Croatia and Slovenia, Visa.

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