This week we have Konstantin Rabin of KontoX for our profile. KontoX is a market-leading Banking API. The service supplied by KontoX is mostly aimed at banks with competitive products, online lenders that are looking to optimise loan-issuing processes and start-ups that want to build their app around supreme technology. Online Credit Scoring, Instant KYC and Contextual Financial Offers are the key benefits supplied by KontoX, yet the main service is the provision of a tool that lets an organisation become a true innovator in the financial industry.
Our questions are in bold.
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Who are you and what’s your background?
I am Konstantin, a marketing professional coming from the online trading background. The KontoX team is great; full of IT professionals that are really enthusiastic about making this world a better place. Our aim is to let brave companies create the financial industry 2.0.
What is your job title and what are your general responsibilities?
I am the Head of Marketing at KontoX and I deal with everything that is connected to the graphics, social media, traffic generation and its conversion. What I try to do is to spread the word about Banking API and its application.
Can you give us an overview of your business?
KontoX is a leading supplier of Banking API. Our prime focus in on the delivery of the top-notch quality service that can be used by such security-hunting institutions as banks. We are also serving online lenders and FinTech developers. Our product can work as a Client-side app, OnPremise solution or under SaaS Model. Its core benefit is the ability to retrieve the financial data of the user.
Tell us how you are funded.
Started in 2009 as Kontomierz.pl, a leading Polish PFM, the first funding was received in the form of a grant by the Polish agency for enterprise development.
Why did you start the company? To solve what problems?
Once Kontomierz was started, it was obvious that achieving success in FinTech is quite hard without a powerful Banking API connection. Once we started developing the connection with the Polish banks, it became clear that we could make the lives of FinTech developers around the world easier if we simply focussed on enabling a Banking API on a global scale. Financial organisations need to focus on the development of their core product, while KontoX is here to provide a back up when it comes to connecting the services with the banking data.
Who are your target customers? What’s your revenue model?
We are trying to target every customer that is in need of obtaining a connection to the banks. We usually look into Banking Institutions, Online Lenders and FinTech developers with interesting ideas. Our pricing is customised and depends on client needs and volumes.
If you had a magic wand, what one thing would you change in the banking and/or FinTech sector?
We believe that we are a magic wand! We are trying to change the conservatism behind this sector by opening the data that has been hidden for decades.
What is your message for the larger players in the Finance industry?
Change is inevitable, the question is whether we are going to work for it or against it. Help us help you, start your Banking API with KontoX.
What phone are you carrying and why?
We are using Android as we do believe in open technologies.
Can you list 3 people you rate from the FinTech sector that we should be following on Twitter?
@mtruszel, Marcin Truszel, KontoX Founder and CEO
@kinlane, Kin Lane, a person who is covering APIs from A to Z
@Chris_Skinner, Chris Skinner, a great source of FinTech news and opinions
What’s the best FinTech product or service you’ve seen recently?
It would probably be one of the Kreditech’s brands that is using Big Data for credit scoring
Finally, let’s talk predictions. What trends do you think are going to define the next few years in the FinTech sector?
FinTech seems to be on a roll, it’s getting more funding, more exposure and also – more competition. While the trend is certainly upward, we feel that the future will be built around how fast developers can build their apps. Also, quite a lot depends on the legislation, as currently FinTech is not as regulated as traditional financial organisations.
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If you’ve any suggestions for other hot FinTech companies (startup, or established ventures) that we should be profiling, I’m all ears. Don’t hesitate to drop me a note at email@example.com. There’s more information on this page.