Avaloq partners with context-aware fintech Flybits

Switzerland-based Avaloq has welcomed fintech Flybits to its open banking marketplace, which brings together financial institutions and fintechs through the latest REST API and sandbox technologies. There are currently over 100 fintechs on the platform, known as The Avaloq.one Ecosystem.

Flybits is touted as the world’s first contextual experience platform for the financial sector, allowing banks and wealth managers to unlock the power of context and to own lasting relationships with their customers on their digital platforms, through 1:1 customer engagement. 

The synergies between Flybits and Avaloq will create a new differentiated offering in the market giving Avaloq’s banking and wealth management clients simplified access to the Flybits platform. “Together we can accelerate innovation in privacy preserving personalisation by helping wealth management providers engage with their customers like they never have before,” says Gerti Dervishi, co-founder and chief growth officer of Flybits. “This partnership fits well with our core strategy of ecosystem empowerment and we’re excited to partner with Avaloq in this space.”

Launched in 2013, Flybits works with some of the world’s largest financial institutions enabling them to break down data silos and create a centralised contextual data ecosystem, allowing them to understand how, when, and through what medium they can communicate with their customers.

The company has since expanded around the globe, with offices in the UK, New York, Toronto, and Dubai. Flybits has recently been recognised as one of Canada’s 50 Fastest Growing Technology Companies by Deloitte and its founder and CEO, Hossein Rahnama, has been recognised as a 2020 top global leader in AI. In 2019 the company raised USD35 million in a Series C funding round.

“Flybits’ end-to-end solution leads the market in delivering true personalisation, generating high levels of engagement and loyalty from customers and giving financial institutions a strong competitive advantage,” says Martin Greweldinger, Avaloq’s chief product officer. “The calibre of Flybits’ platform is further testament to the strength of the Avaloq.one Ecosystem and its key role in bringing the best fintechs together with the world’s leading financial institutions.”