Strong Organic Growth and Acquisitions Towards the End of 2021
Message from Piotr
Most of 2021 is behind us. For ASEE Group the first half of the year was marked by a double digit growth in key business indicators thanks to both organic growth and incorporating the results of newly acquired companies within the AI and ECR domains. Organically we grew mainly from the increased demand for our banking solutions and improved efficiency in Dedicated solutions on the ASEE side, as well as POS related services business line and e-Commerce on the Payten side. In the third quarter of this year we finalized two more acquisitions. We purchased a majority stake in Romanian ContentSpeed, e-Commerce software & solutions provider, to complement our offer for merchants with advanced online stores and e-Commerce sales channel solutions, and Croatian IT Sistemi and eVision to strengthen our BMP business and expertise within the digitalization area.
Helping banks to digitalize we finalised the implementation of ASEE Live, our full omnichannel communication platform, which now enables our client Xalq Banki in Uzbekistan to excel in digital transformation and increase customer satisfaction. Also another bank, Anadolubank, one of Turkey’s leading banks, has selected ASEE Live Digital Onboarding for all branches countrywide recently. In Romania we supported CEC Bank in becoming the first bank in the country to allow open banking to initiate payments.
ASEE also continued to support clients in mergers on the banking sector. We completed the most complex project of a full integration of two major banks, Sparkasse and Ohridska Banka, as a result of which the new integrated bank now ranks among top four banks on the Macedonian market by its assets. We also aligned six banks using our core banking systems in Montenegro with the new legislation issued by Central bank in only 2 months, despite specific parametrization and product differences.
The third quarter of 2021 was also marked by the implementation of Central Address Scheme (CAS), in four banks in Serbia. CAS is a new service offered to citizens, current account holders at domestic banks, and it simplifies P2P transactions by eliminating the need to know the recipient's account number. Introducing CAS to the market has versatile applications.
At Payten we have expanded internationally with our e-Commerce solutions. Payten Nestpay gateway has been sold to the biggest e-commerce bank of Albania and to a new bank in Kyrgyzstan. Payten Turkey, through collaboration with PCI Checklist on Fintech Security Accelerator (FSA), is now offering Merchant Security Solutions to banks and financial institutions in 8 countries including Azerbaijan and Macedonia.
Within the card processing business line, Chip Card, member of Payten, completed the challenging project of changing and adjusting all systems to ensure transaction processing for the new entity formed after the merger of MTS bank with Postal Savings Bank in Serbia. It also won an important client in July when the largest bank in the Serbian market – Banca Intesa, transferred the on-us transactions with bank’s cards, used in Delhaize Serbia retail chain, to Chip Card Processing.
It is impossible to mention or elaborate on every exiting project we have done recently so I encourage you to read the stories presented in this issue of the Newsletter and watch out for more in our social media and on our blogs.
Piotr Jeleński
ASEE & Payten CEO