[PR] Smart Fintech integrates with Goldring, the award-winning investment broker in the Romanian capital market
Bucharest, 13th of July, 2023
Goldring S.A., an investment broker at the Bucharest Stock Exchange and on the major international markets, which offers trading services to individual and corporate investors, announces the integration of SmartPay into its platform.
Through the Open Banking payment initiation solution developed by Smart Fintech, the broker offers a new and efficient way to fund the trading accounts of the approximately 1000 clients in the portfolio. The partnership brings significant benefits to both the broker and its investors due to the efficiency of the trading process and the optimization of costs.
SmartPay simplifies and digitizes the process of fuelling trading accounts for investors present on the Goldring platform, reducing time and eliminating inherent human errors through digitization. Thus, investors can fund accounts directly from the platform without going through third-party financial intermediaries.
"SmartPay brings innovation to the management of bank transfers, eliminating the manual process and automating the filling of payment details, thus significantly reducing the associated costs. The commissions reach 10 euro cents per transaction, or even below this threshold, depending on the volume. Thus, we offer benefits to investors and companies like Goldring, who save money by eliminating the high fees applied to the traded amounts", said Alice Anghelea, Revenue Growth, Smart Fintech.
With the integration of SmartPay, Goldring achieves significant savings on the fees paid to fund investment accounts with the bank card while providing a digitized and fast payment experience. This solution increases security and efficiency as transfers occur from account to account. The trading account is directly topped up from the investor's account to the broker's collection account, reducing the fraud risk. Investors initiate the top-up from the Goldring platform by entering the amount they want to transfer to the trading account, selecting the bank from for the top-up, and being redirected further for authorization. The transfer completes with a confirmation message and the redirection in the platform Goldring.
At the same time, with SmartPay, digital top-ups of trading accounts are instant, with zero commissions, and the amount transferred has no limitations, unlike top-ups with a bank card, both intra and interbank, for banks that offer this option through Open Banking. BCR, ING Bank, Banca Transilvania, Libra Bank, and BRD are the first banks from which investors can instantly top up the Goldring collection account. In addition, the large amount transferred as part of the exchange trading process is not going through Smart Fintech but directly to Goldring. Digitized instant feed is essential for investors, and SmartPay facilitates the necessary speed with increased security.
"We are the first Romanian broker to launch 100% online customer enrollment, we introduced the method of feeding accounts with the card, and we are constantly looking for digital solutions to make the work of customers and employees easier. The integration of SmartPay for using "payment links" simplifies the "life" of customers when discussing account top-ups, reduces bank transfer times and costs, and prepares the ground for the launch of new trading platforms. This partnership represents our consideration and openness to adopting new technologies", said Virgil Zahan, CEO of Goldring.
Goldring aims to integrate SmartPay Open Banking services in its future projects to maintain and strengthen its competitive position in the market. By adopting SmartPay technology, the company intends to optimize transaction processes, provide its customers with innovative financial solutions, and facilitate access to digital banking services that benefit from increased security. This strategy will allow the broker to dynamically adapt to the rapid developments in the financial industry and effectively respond to the needs of its clients.
"The integration with SmartPay provides Goldring investors the highest security, confidence, and convenience in the capital market while optimizing costs. With SmartPay, transfers process in seconds, and the funds go directly to Goldring without going through other entities. Through the benefits brought by this partnership, we help by innovating and speeding up the process, respecting the safety for carrying out transactions on the capital market", said Ana Maria Georgescu, Co-Founder, Sales and Marketing Manager of Smart Fintech.
Since 2019, the bank account inquiry services developed by Smart Fintech are based on IBM technology from the Cloud Pak for Integration suite, with the experience of a partnership that lasted for more than 20 years. The API Connect® platform remains among the most widely used API management solutions that provide an intuitive experience in creating, securing, and maintaining APIs.
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About Smart Fintech
Smart Fintech is a Romanian start-up created as an innovation laboratory in 2019, aimed at offering innovative open banking solutions located at the convergence of the financial and technological worlds. It is a self-supported start-up co-founded by Mihaela Georgescu, Ana Maria Georgescu, Alexandru Cociu, and Andrei Dumitru. They have worked together for several years on various IT projects and share enthusiasm for open banking and the innovation potential it opens up. Their ambition is to create value-added services in Romania based on the PSD2 directive and to contribute to the development of the Romanian market so that not only EU TPPs or fintech in partnership with banks are the main actors.
About Goldring
Goldring is a Financial Investment Services Company present for 25 years on the capital market in Romania, It is known for its activity in consultancy and integrated assistance regarding listings on the capital market, corporate governance services, or operations on the capital market (capital increases, public offers, redemption/stabilization programs, etc.). Currently, the company offers access to trading various financial instruments at the Bucharest Stock Exchange and on the main international markets.
