Mobile wallet provider Cellum eyes mobile fintech convergence

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Mobile wallet provider Cellum today announced plans to offer integrated banking and payment products to its customers in the form of new strategic partnerships with digital banking solutions companies, according to a press release.

Speaking at the 2016 E-Banking Summit in Budapest, Cellum CEO János Kóka brought attention to the inevitable convergence of digital financial services. Kóka pointed out that while in the offline world consumers can get all kinds of financial services from one provider, the digital landscape is uncannily fragmented, with consumers forced to toggle between different apps for functions such as banking, payments, securities trading and locating ATMs. Kóka said that this not only mars the consumer experience, but also hinders user adoption and increases IT costs for financial institutions.

Cellum announced a new partnership program for international mobile banking solution providers. The company has already signed two cooperation agreements, one with international customer interaction solutions provider NF Innova and one with Hungary-based financial technology company E-Group, to offer banks and other institutions a seamless package of online banking and mobile payments products. At the E-banking Summit, Kóka said Cellum was looking to further expand its partnerships with players from different geographies for similar cooperation.

“Through our cooperation with our new partners, we can offer a solution that allows banks to bring all their financial services to digital platforms in a single integrated app, from mobile banking and personal finance management to payments and loans,” Kóka said. “We believe in convergence. Our new partners are experienced players in the fintech industry, and we are really looking forward to combining our expertise to create immense value to our customers.”

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