Financial software developer and implementer D8 Corporation will invest two million euros in financial technology products and a new sales and service office in the Middle East.
Necessary investments banks Citadel financing by the Development Finance Institution high guarantee support will provide EUR 1.3 million, but D8 Corporation own resources – 700,000 euros.
“For more than 10 years we have been actively working in international markets, where we receive 90% of all orders. We see that improving productivity and quality, as well as creating high-level innovative solutions is possible by regularly investing in the company’s development. good support for increasing the pace of production, marketing and sales The software we develop is intended primarily for fast-growing banks and financial institutions, so the offer must be very secure and technologically advanced, for example, in 2016 we developed a “digital wallet” solution or technology for stores in Citadele We are currently working on expanding the capabilities of artificial intelligence for our online risk management solution, as well as improving the features of the “digital wallet.” We are close to making our products available to smaller companies and start-ups that will be able to use D8 Corporation cloud services in the future. use as a service without purchasing relatively expensive software and hardware. The COVID-19 pandemic has also introduced its adjustments during 2020, as the demand for online trading platforms has grown rapidly – in some segments by as much as 200%, therefore more powerful and flexible IT systems are needed, “describes the situation in the IT market. Chairman Juris Ščerbickis.
D8 Corporation has four offices, and three of them are abroad. The funding will make it possible to invest in setting up a new office in the Middle East. “We are pleased that over the past three years, our IT solutions have attracted interest in Arab countries, especially in the regional financial center Dubai, due to both quality and affordability. If we now employ 90 specialists and mainly in Latvia, then the number of employees we will be able to increase it by another 10 people, “reveals J. Ščerbickis.
In the Gulf region, the greatest interest is in the risk management system StrongHold, developed by D8 Corporation, which is able to analyze very large amounts of data obtained from various sources online, thus preventing fraudulent card transactions. As fraud schemes become more sophisticated, the artificial intelligence module will make D8 Corporation’s StrongHold even more competitive in the global financial technology market.
“Export of innovative and competitive IT solutions is a way to demonstrate the high expertise of Latvian specialists and promote national leadership in the field of smart technologies. For entrepreneurs, this is a time when efficient solutions are sought in the IT field, and it is commendable that a Latvian company can successfully export smart technologies. To develop banking services efficiently and improve the customer experience, we work with local and global financial technology companies.For many years, D8 Corporation has been our partner, with whom we have implemented many innovations in financial services, such as telephone and Apple Pay. It is positive that we have managed to expand our relationship, giving the company the opportunity to accelerate its development, “emphasizes Rūta Ežerskiene, Member of the Board of Citadele Bank.
D8 Corporation, a company founded in Latvia, has more than 18 years of experience in developing, implementing and maintaining financial software. Its customers include both large and small banks, as well as international payment operators and companies in other industries that improve payment processes with the support of D8 Corporation. The company offers traditional banking systems for processing payment cards and accounts, solutions for Internet banking and payment systems, tools for “digital wallets” and loyalty programs, as well as technologies for the prevention of fraud and money laundering.
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