InsightsArticlesOpen Innovation through the Fabrick platform: connect, orchestrate, co-create

Open Innovation through the Fabrick platform: connect, orchestrate, co-create

Publication date: 08 November 2023Reading time: 3 minutes

Built around the values of openness and co-creation, the Open Finance platform created over the years by Fabrick acts as an accelerator for Open Innovation. Collaboration among cross-industry players on the Fabrick platform and the crossing of financial and non-financial data enable the development of new use cases and business models, accelerating growth, creating new value for customers, and promoting efficient, transparent, inclusive financial solutions.

Today, the Fabrick Open Finance platform is connected to over 1000+ banks across Europe, generates over 370 million API calls per months and fosters the co-creation of advanced experiences with financial services, thanks to over 400+ clients and B2B partners.

Thus, thanks to Fabrick’s innovative business model, fintech companies can leverage the network effect created by our infrastructure to scale rapidly either by participating as producers or consumers of APIs. On the one hand, fintechs can benefit from innovative solutions to grow their business, reducing their time-to-market, integrating into their product or service via API cutting-edge technologies; on the other hand, they also have the opportunity to access the Fabrick’s ecosystem to generate broader value and promote entrepreneurship by making their APIs available on the platform.

The role of the Fintech District: promoting matchmaking between fintechs and incumbents

Integral and central element of the wider ecosystem that Fabrick has built around its platform, the Fintech District is the reference international community for the Fintech and Techfin ecosystem in Italy. With around 280 fintechs in community, the Fintech District acts as an ecosystem aggregator, with the aim of creating the best conditions for all stakeholders to work in synergy and discover opportunities for local and international growth.
To achieve this mission, the Fintech District has created a wide array of propositions for fintech companies to share knowledge and facilitate Open Innovation projects. In particular, on top of organising the Milan Fintech Summit, Italy’s most important event on the future of fintech since its 2018 launch, the Fintech District has promoted 400+ matchmaking activities to help companies scouting novel solutions, identifying new business development opportunities with fintech players, and pushing for Open Innovation.
Let's now dive into two of our recent success stories:

  • Hype – Bitpanda: Following its entrance into the Fintech District community in 2021, Bitpanda, one of Europe most well-known fintech companies operating in the investment space, joined forces with Fabrick to offer digital asset investing as a white-label solution for Italian banks and fintechs.
    Through Fabrick’s Open Finance Platform, in November 2022, Hype, Italy’s leading neobank, launched a new investment feature allowing its clients to tap into Bitpanda's full scope of fractional stocks, ETFs and metals, 24/7. Thanks to this partnership, millions of clients have now access to new ways of powering their saved cash in a completely safe and regulated environment.
  • Quid – Paydo: Quid is a corporate that focuses on the design of ICT solutions in financial services since the late 1980s, facilitating the digital transformation of financial institutions. To better serve its clients, Quid has recently developed its Qinetic Platform: an innovative cloud-native credit lifecycle management product that enables omnichannel strategies.
    Thanks to the Fintech District role of aggregator, Quid identified PayDo (a fintech part of the Fintech District’s community) as partner to develop a solution to enable Quid’s customers to manage payment and collection operations in both ordinary activities (recurring deadlines) and extraordinary phases (soft collection) directly through the Qinetic platform features.

Finally, as Open Innovation can be achieved in many ways, it is worth highlighting how Fabrick is also transforming the world of finance by investing in and supporting new innovative players through venture capital activities.

With a focus on B2B fintech, vertical SaaS, and emerging techfin technologies such as Web3, AI for Finance and RegTech, when investing in young, promising fintech start-ups, Fabrick not only provides them with essential financial resources to fuel their growth and expansion projects, but also puts at their disposal its highly skilled team, supporting them when it comes to compliance and risk, technology and product development, and distribution.

Are you ready to join the Fabrick Ecosystem?

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