Financial aggregator Fideum has emerged as the winner of the prestigious Mastercard Lighthouse Finitiv program, showcasing its commitment to merging crypto and traditional finance. The program recognized Fideum with a “double award” as the regional Baltic class winner and the overall program winner, as announced in a press release.
The selection committee highlighted Fideum’s unique approach to combining established financial practices with innovative features and functions while adhering to regulatory compliance. This vision set them apart as the overall winner.
“[Fideum was selected as the overall winner] on account of their clear vision of the need for marrying the old established with the new upcoming features and functions while ensuring regulatory compliance.” – Selection Committee
Fideum is dedicated to offering a seamless integration process, aiming to bridge the gap between traditional finance (TradFi) and the digital asset market for both business-to-consumer (B2C) and business-to-business (B2B) users. The company has already gained international traction, supporting users in 120 countries, and partnering with 30 institutional entities.
According to Anastasija Plotnikova, CEO of Fideum, Mastercard’s recognition validates the importance of their solutions in the market. Their focus lies in establishing a regulated pathway for institutions to engage with cryptocurrencies, providing ease and security.
“[Mastercard’s recognition] stresses the ‘critical need’ for Fideum’s solutions.” – Anastasija Plotnikova, CEO of Fideum
Mats Taraldsson, Head of Innovation, Fintech, and Impact Tech Engagement at Mastercard Nordics and Baltics, emphasized that the fintech industry is undergoing a transformational shift. Companies like Fideum are at the forefront, pushing the boundaries of traditional banking and payment methods, while addressing consumers’ evolving needs and expectations.
“The financial technology industry is undergoing a transformational shift, and the fintech companies selected for this program are at the forefront of this revolution. [They] address consumers’ changing needs and expectations.” – Mats Taraldsson, Head of Innovation, Fintech, and Impact Tech Engagement at Mastercard Nordics and Baltics
The winners were announced during the Grand Finale event and award ceremony of the Mastercard Lighthouse held at the SLUSH conference in Helsinki. Additionally, three other startups were recognized in the fall’s FINITIV 2023 class.
The FINITIV program spans over three months and facilitates collaboration between Nordic and Baltic fintech, fintech-enabler startups, early scaleups, and industry stakeholders. These stakeholders include Mastercard, tier-one Nordic banks (SEB, Danske Bank, DnB, Swedbank, and OP Financial Group), tech partners (AWS), and program advisors (FinTech Mundi and Invenio Growth).
“The FINITIV program is a fast-track way for capturing emerging trends and solutions in the industry.” – Marius Ribokas, Innovation lead in Fintech partnerships at SEB Baltics
The program aims to foster favorable conditions for partnerships among participants and stakeholders. It provides an invaluable opportunity to keep up with emerging trends and solutions in the fintech industry. The applications for the 2024 program are now open, inviting new entrants to join the transformative journey.