Innovative solutions by the first Hungarian-founded and owned neobank, BinX Plc. significantly contribute to the efficient operation of Hungarian SMEs, according to the Hungarian Investment Promotion Agency (HIPA)
Based in Budapest and operating exclusively online, BinX employs 150 people and uses the latest fintech technologies to provide faster, cheaper, and more user-friendly mobile banking experiences for its clients. Unlike traditional banks, BinX does not engage in lending activities. In contrast to banking services, it keeps clients' funds in liquid assets, such as cash, bank deposits, government bonds, and easily tradable securities, ensuring fast accessibility and full refundability.
Founded by the creators of the electronic invoice service provider Számlázz.hu, this neobank is making a EUR 9 million research and development investment, creating 12 new, high-value-added jobs. About 20% of the amount is covered by Hungarian taxpayers through a government decision. The goals of the project include the creation of a next-generation financial software platform, improvement of the user experience, combating money laundering and terrorism financing, entering international markets, and serving more complex corporate needs.
The project utilizes cutting-edge technologies, such as cloud-based solutions, artificial intelligence, and Big Data-driven machine learning, ensuring fast and effective progress. The company is committed to supporting Hungarian SMEs, with its innovative solutions significantly reducing financial and administrative burdens, thereby increasing their efficiency.
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