Finnovating, the first global Fintech platform, interviews Katrin Seeger, Product Management & PMO Director at Kíneox:
FINNOVATING (F): COULD YOU SUMMARIZE A BRIEF REVIEW OF YOUR PROFESSIONAL CAREER AS AN INTRODUCTION?
KATRIN SEEGER (KS): I have worked in consultancy and technology since completing a PhD in Physics. Changing a university lab for the real world, and applying a scientific approach to business processes, has made a real impact in my career and the organizations where I have worked. For the past two decades, I’ve been involved in projects at major banks, telecom operators, regulators and startups across Europe. I’m proud of being part of the founding team of Kíneox and experiencing first-hand the typical growth stages of a startup until becoming a scaler.
(F): YOU ARE THE CURRENT PRODUCT MANAGEMENT & PMO DIRECTOR OF KÍNEOX SOLUTIONS. COULD YOU EXPLAIN THE CORE BUSINESS OF KÍNEOX? WHAT SERVICES IT OFFERS?
(KS): Kíneox is a FinTech transforming payment and collection processes using predictive modeling and digital SaaS solutions. Since 2012 we have led innovation in collections creating sustainable value for our customers across Europe and the Americas. We are assisting many organizations, large and small, in their transformation journeys of collection and payment processes.
(F): HOW DID THE IDEA COME ABOUT?
(KS): The idea came out of two consultancy projects mapping processes for a bank and a mobile operator back in 2011. We identified that the processes used were obsolete and had a lot of room for improvement, especially in the early collection stages. We proposed to both customers approaching collections with a digital hat and they asked us to help them in that process. Since the initial payment portals we developed for them to the current product offering, Kíneox has evolved enormously maintaining its pioneer and disruptive essence having always in mind creditors’ needs and debtors’ experience.
(F): WHAT IS KÍNEOX’S VALUE PROPOSITION?
(KS): It’s pretty straight forward: we help creditors to collect more, earlier, at lower cost, and with better CX.
(F): WHO IS KÍNEOX’S CUSTOMER?
(KS): Kíneox has got over 50 large customers operating in sectors such as banking, consumer credit, telecom, utility, insurance, microlending and mass services. Through our mid-market solution we are also attracting medium-sized companies who benefit from a lighter version of our core product KX CollectionSuite.
(F): HOW DO YOU THINK KÍNEOX CONTRIBUTES TO PROMOTING AND TRANSFORMING TODAY’S FINANCIAL SECTOR?
(KS): Kíneox was the first European company to address the transformation of collection processes for financial institutions. This was back in 2011 when terms like FinTech, transformation, digitalization, etc. were not even part of our vocabulary. Since our launch, we have collected over €2.5 billion helping financial institutions to release almost €30 billion of risk from their books. Also, more than 5 million end customers have self-cured themselves using our solutions with a digital and positive experience.
(F): HOW DO YOU THINK THE IMPLEMENTATION OF DIGITAL FUNCTIONALITIES WILL IMPACT THE TRADITIONAL BUSINESS MODEL?
(KS): In our segment, the impact is already there. Thanks to the of collection processes creditors are improving both efficiency and effectiveness meaning they collect more and at lower cost. Traditional collections, particularly debt collection agencies, and recovery legal practices have been heavily impacted by digitalization.
(F): WHAT DO YOU THINK CAN BE THE IMPACT OF DIGITAL PLATFORMS IN THE FINTECH INDUSTRY?
(KS): I think it will help companies to be more global and more accessible to others. Companies need to collaborate with one another to fulfill the needs of the customers. By having digital platforms, any company would be able to offer a service almost anywhere, on top of learning from what others are doing in other markets, which from my point of view, is crucial to keep on growing and developing solutions in the industry.
(F): WHAT DO YOU THINK ARE THE SECRET INGREDIENTS OF FINNOVATING THAT MAKE IT A UNIQUE PLATFORM?
(KS): Creating a digital space where FinTechs, investors, prospects and vendors can connect and network in a simple and cooperative way is a fantastic idea. Also the way you are giving visibility to companies like us by creating the FinTech’s Country Maps, give us a lot of visibility in different regions where we operate or plan to do it.
(F): IS KÍNEOX INTERESTED IN PARTNERING WITH LARGE COMPANIES IN THE SECTOR?
(KS): Of course. Part of Kíneox’s success to date has been partnering with the right companies. We are always looking for technical and business partners to improve our offering and reach.
(F): HOW WOULD YOU CONVINCE INVESTORS TO TRUST THE FINTECH SECTOR AT SUCH A SENSITIVE TIME FOR THE ECONOMY?
(KS): Precisely these sensitive times make the FinTech sector, with its agility and efficiency, interesting for end customers and hence for investors.
(F): HOW WILL KÍNEOX EXPAND INTERNATIONALLY?
(KS): Kíneox has already expanded internationally but with a reactive approach, i.e. following the footprint of our customers in the markets where they operate. Now we are being more proactive and are opening markets where size, language and culture are not great barriers for us.
(F): WHY IS KÍNEOX INTERESTED IN BEING PART OF FINNOVATING? WHAT ARE YOU LOOKING FOR IN THE FIRST GLOBAL FINTECH PLATFORM?
(KS): We have joined Finnovating because we believe in this initiative and it is the right place to be for Kíneox at this moment. Any company wanting to scale and grow internationally needs to join a platform like this one.
What we look for is global exposure and reaching agreements with customers and partners in regions of interest.
(F): FINAL QUESTION: WE WOULD LIKE TO CONTINUE MEETING AND SUPPORTING OTHER STARTUPS IN THE FINTECH SECTOR. WHAT STARTUP WOULD YOU RECOMMEND US AND WHY?
(KS): We are following closely companies providing hybrid services such as telcobanks, MVNOs, lending, e-payments and anyone with a comprehensive and scalable digital offering.
Source and copyright: Finnovating.