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22 April 2020

AAZZUR named a top 100 start-up transforming banking

AAZZUR is delighted to have been named as one of a 100 start-ups transforming the Polish banking sector in a major report by PKO Bank Polski.

The Startup The Bank report, prepared by the region’s largest bank and partners, argues that innovative technological solutions are now an integral part of banking and highlights key early-stage start-ups it believes are driving this revolution.  

Customers are increasingly more interested in the entire ecosystem of services, the report says, rather than traditional products such as mortgages and loans. And the challenges posed by the coronavirus pandemic are only accelerating digitisation of services, it adds.  

AAZZUR is one of the 100 start-ups that were surveyed for the report due to their established commercial links or pilot projects in Poland, participation in local accelerator programmes or offering of services to domestic banks.  

The Berlin-based company is building a platform that connects banks with digital, third-party insurance and insurtech providers, to enable bancassurance in a digital age. This means banks, financial service providers and real-economy companies can expand their offering with insurance services while enhancing their customer experience.  

It has previously worked with Poland’s largest insurer PZU and Alior Bank to produce a successful proof of concept that leveraged transaction data to identify insurance triggers. It also previously worked with the two companies at the RBL_Start accelerator in Warsaw. 

“We at AAZZUR are honoured to have been included in PKO Bank Polski’s Startup The Bank report,” says CEO Philipp Buschmann. “We are also delighted to be part of Poland’s thriving start-up scene and play a role in transforming the banking space.”  

Poland’s start-up scene is indeed booming when it comes to banking – be it companies offering fintech solutions or those in other areas, such as marketing and HR.  

Last year, funds invested in the development of innovations in the Polish banking sector hit PLN 1.6 billion (€353 million) – with an average annual growth of 14.5%, according to the study.  

Seven out of 10 of start-ups also continue to collaborate with banks after a successful pilot project, the report also reveals.   

Startup The Bank also outlines the early-stage companies currently working with Polish banks and their founders’ experience and expertise; how the most innovative companies make money; and whether piloting and testing can be the start of a good relationship with a bank.  

A full version of report by PKO Bank Polski – one of the largest banks in Central and Eastern Europe – is available on the Startup The Bank website.