SBB Magazine / February 2020

Cooperation
with fintechs
HOW DATEIO ENHANCES
PAYMENT DATA
Dateio is a fintech company
founded in Prague (Czech
Republic) in 2013. Ivan
Dovica, Dateio’s COO &
Co-founder, explains how
payment data can be used
for customer’s analysis and
decision-making processes.
The digital disruption
Challenger banks have been disrupting the
banking environment for the last few years, but
now the big players are finally realizing their
power. Even the SME banking industry has
welcomed a few new entrants. But how are the
challengers changing the game? User experience.
They have developed easy and fun to use
interfaces to which traditional banks haven’t yet
adapted.
We know challenger banks mainly from the B2C
environment but people in companies are still
just people, therefore ease of use and friendly
interfaces in SME banking has become very
important too.
customers who are then forced to google the
name of the merchants to find out if they are
being scammed.
On the other side, banks have information about
billions of transactions, yet they don’t know
how to draw insights from them. Payment data
enrichment helps both sides obtain insights
from payment data and easily navigate with
online banking interfaces.
Solution and benefits for SME’s
Dateio has developed a technology that
connects the payment data with information
about the GPS location of the store, clear brand
name, logo of the company and category which
opens doors to new opportunities.
On the side of SME, benefits of enriched data
start with simpler, easier, and thus faster,
navigation for everyone involved starting with
approval of payments to accountants.
By gaining insight regarding in which category
and in which particular company’s employees
are spending most of their resources, financial
departments can get a better understanding of
costs, their attribution to individual companies,
or even optimize them. Until now, determining
this information regarding card payments was a
difficult question.
Accounting can be more automatized by
sending payments from chosen merchants
directly to the accounting cost centers.
Also, security and overall spending control can
be improved. GPS information helps with fraud
detection such as when an employee is on a
business trip in a certain location, but payments
are happening somewhere else. A set of rules
can be created so the employee card can only
be used at certain locations, at a particular
merchant or for a specific category.
Ivan Dovica, Dateio
The Problem
One of the main pillars which banking is based on
is payments. It is surprising how such a key feature
is being neglected in many ways, especially in the
21st century. Some of the fintech buzzwords are
“big data”, “data analytics”, “business intelligence”,
“AI”, etc., and yet banks are still not able to tell their
clients trivial information such as where exactly
we made a payment in terms of the correct brand
name, location, etc.. How can we expect them
to deliver any extra value out of the payment
information?
On one side, the bank clients must still be
decoding imprecise payment strings in their
payment history and face the banking interface
accounting system from the ’90s. This confuses
Scan the QR code to watch Ivan’s
presentation during the CEE SME Banking
Club Conference 2019
SMALL BUSINESS BANKING MAGAZINE
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