Finologee honoured with the “ICT Outsourcing Services Provider of the Year” award
Finologee receives Luxembourg ICT Award for delivering best-in-class RegTech and digital payments outsourcing framework for regulated entities.
On 7 December, Finologee was awarded “ICT Outsourcing Services Provider of the Year” at the 15th edition of Gala IT One, one of the largest networking events of the Grand-Duchy’s IT industry. This annual event brings together the IT community with the aim of promoting and spreading best practices, encouraging exchanges between peers in the country, recognising the best solutions on the market and celebrating the Luxembourg ICT Awards’ ceremony.
Key qualifications for applying for the awards include professionalism, a sense of innovation, ethics, and local involvement. An independent jury consisting of CIOs, COOs and IT managers working in Luxembourg then review and evaluate the applications in ten award categories. Finologee achieved the highest score in the field of “ICT Outsourcing Services Provider”, one of three awards directly granted to IT companies for their outstanding performance over the last year.
“We are very pleased to have received this award as it will further catalyse our mission to build a singular outsourcing framework for our RegTech and payments products that meets the specific outsourcing needs of the Luxembourg financial industry. With our ready-to-use platforms and products, we help our clients to meet their regulatory requirements as well as simplifying and modernising processes, while minimising the adaptation, customisation and context-specific analyses for them, “says Raoul Mulheims, Finologee’s Co-Founder and CEO.
Since its incorporation in 2017, Finologee has started building a new generation infrastructure for outsourcing and managed services operations by financial industry players. In doing so, its strategy has been to bring together three essential ingredients in particular: IT operation frameworks that have served Luxembourg banks, insurance companies and other financial institutions over the last 15 years, operating with a double Support PFS licence from the start of its operations and obtaining an ISO 27001 certification, the implementation of new generation RegTech and digital payment operating standards with a strong drive for innovation, and an outsourcing framework for regulated financial industry entities, which is tailored to the obligations and requirements that apply to them.
Platforms operated by Finologee cater for a variety of needs and contexts: mobile and professional payments (Digicash/Payconiq and ENPAY), KYC and digital onboarding, bank compliance (PSD2 for Banks and CEDRS account holders reporting), telecom messaging (Mpulse) as well as several other FinTech APIs and microservices. Products integrate market-leading international components, strictly abiding by the regulatory framework that applies to cascaded outsourcing and service provision setups. Today, Finologee is serving more than 100 banks, insurance companies and institutional clients through the variety of its platforms.