Fintech made in Greece

Eleni Fouka
The crowdpolicy collection EN
5 min readMar 13, 2020

The heart of fintech beats in Greece with a cloud suite of applications for financial transactions

for banks, businesses and the public sector

FintelioX is the first integrated cloud suite of enterprise solutions and services for fintech and open finance.

On Thursday, February 13, Crowdpolicy presented at Innovathens at an event entitled “Open finance platform FintelioX goes Global” the new digital platform FintelioX as well as the prospects and opportunities of Open Finance in Greece and abroad.

FintelioX is the first integrated suite of enterprise solutions and services in the field of Fintech in Greece. It allows Banks and other financial institutions to utilize the European Directive PSD2 and the open banking — open finance trend in order to develop new business models, and a large number of private and public organizations to effectively incorporate financial transactions into their processes as well as data and customer management to produce value.

FintelioX is based on state-of-the-art technologies (java spring boot, Node js, angular, API first architecture, cloud and on premise infrastructure providing modules through docker containers etc.), architectures and open APIs management and includes developer tools based on international standards (FinTech SDK), marketplace infrastructures and payment and authentication scenarios using debit and credit cards, e-commerce applications as well as vertical solutions such as chatbots, government & utility bill payments and crowdfunding.

The event was attended by executives of banks, entrepreneurs, executives from the fields of digital transformation & innovation and e-services, investors, executives of IT companies and integrators etc.

FintelioX and implementation solutions for banks and other organizations were presented for the first time at the event. Mr. Georgios Karamanolis, Co-Founder & CTO/CIO of Crowdpolicy introduced FintelioX as well as partnerships and production systems with banks in Greece, Cyprus, Albania and Nigeria. Mr. Sotiris Kousouris, Chief Operations Officer (COO) of Pancreta Bank presented the Developers Portal and Chatbot infrastructures implemented by Crowdpolicy, and Mr. Ioannis Tsavdaridis, CIO of Epirus Bank, presented the open banking — PSD2 Finteliox solution. The event also featured a presentation of the Developers Portal of the National Bank of Greece and the partnership with Crowdpolicy. Mr. Konstantinos Kalogerakis, CIO of Crowdpolicy, gave a presentation on Fintech and innovation ecosystems, and Mr. Marinos Xynarianos, FintelioX Director, gave a speech about FinTech and Open Finance opportunities worldwide.

The FintelioX platform will implement Open Finance applications and processes by turning traditional methods of providing financial services into more up-to-date, direct and innovative ones. The use of smart mobile phones and the Internet, in general, creates new conditions for access to financial services for everyone. Nowadays, new fintech companies are emerging to offer something new, while the majority of existing companies and financial institutions are incorporating fintech solutions to improve their services.

Crowdpolicy has developed a set of technology and supportive services, FintelioX, to promote fintech in companies and organizations, both public and private, working as a Fintech enabler partner.

FintelioX is aimed at banks and all public and private organizations that wish to transform their business model and offer new modern services to their customers. It could be used for authentication, digital bots for information and transactions, e-commerce for online payments, personal & business financial advisors, applications for energy, agriculture, transportation, the public sector, SMEs etc.

FintelioX can be used in telecommunications organizations for payments, energy companies for bill payments, authentication, buying and selling energy and switching providers, NGOs for donations, transport companies for the payment of shipping charges, theaters, concerts and spectacles for ticketless access using debit or credit cards, loyalty programs for customer engagement and personalization of offers, insurance companies for dynamic pricing or contract transfer, public administration for e- payments and access to e-government services and so on.

FintelioX consists of 11 integrated applications:

  • Open, for Open Banking and PSD2 compliance
  • ByB (Bring your Bank), for the execution of financial transactions by non-bank organizations and support of e-commerce
  • CrossOver, for the establishment of a banking hub, access to accounts and transactions in other banks and exchange of data with banks and other public sector organizations
  • SDK, for easy integration into third-party applications
  • M, for certification, authentication and consent management for data exchange between different entities
  • Marketplace, for the creation of a marketplace with cloud apps, such as loyalty, accounting applications etc.
  • Containers, for the delivery of the solution regardless of the users, technology and infrastructure
  • Bot, for AI implementation and interactive multi-channel chatbot services
  • Crowdfunding, for the implementation of donation and investment crowdfunding
  • Gov, for the integration of payments into public bodies through the use of debit and credit cards

FintelioX applications are fully functional and used by banks and other organizations in Greece, Cyprus and Albania, while a customized suite for energy-related businesses will be available soon.

In the meantime, as Open Finance is now used worldwide and constitutes a key strategic choice for banks around the world, Crowdpolicy is gearing up for the network development and project implementation in other markets. According to statistics, more than $53 billion was invested in fintech companies and startups worldwide in 2019 with the amount increasing every year as more and more markets are adopting new Open Finance-based business models.

More information about FintelioX is available at and