December the 19th, 2023 – The American fintech Mbanq, which has offices across the world, has now opened its Osijek office.
The American fintech company Mbanq recently celebrated the entry into a new era of its presence here in Croatia with a gathering in its new Osijek office, located on the top floor of the Esseker Centre.
From Seattle to India, Cambodia, Montenegro and Croatia…
With its company headquarters in Seattle and teams in India, Cambodia, neighbouring Montenegro and here in Croatia, Mbanq develops software solutions for the widest range of financial service providers – from traditional banks to fintech applications on mobile devices. They have been present in Croatia since back in 2017 through an acquisition, and over the years they’ve managed to expand throughout the USA and into the markets of Western Europe and the Caribbean, where they already have several client banks that they regularly visit.
Putting Osijek on the map
Numerous members of the business community from Osijek and the surrounding area were invited to the opening of the new Osijek office, with an emphasis primarily placed on Osijek companies with a significant presence on the American market. This naturally included the likes of Orqa and Inchoo. More than sixty of those gathered were greeted by members of the Mbanq administration and the deputy mayor of the City of Osijek, Dragan Vulin.
Mbanq Croatia – going global
Eduard Rupčić, a member of the Board of Directors of Mbanq Croatia, stated: “Until the arrival of Mbanq, we only dreamed of going global, and since 2017, we’ve genuinely managed to embark on a global campaign. Today, these teams from Osijek and Podgorica (Montenegro) maintain banking systems from Belgium to Barbados, and from Aruba to Montenegro.”
Osijek – full of untapped potential
“Its my pleasure to come to Osijek for the seventh year now. I think that this city is beautiful, that it has a lot of untapped potential and that it can still provide a lot of growth for us”, said the co-founder of Mbanq, Mr. Javier Valverde, adding: “Our goal is to transform financial services, especially banking technology. We’re extremely proud of our growth from a small group of co-founders to a large organisation with offices located in five countries and clients spanning several continents. Over the years, Osijek has emerged as one of our main centres, so this I see the beautiful new Osijek office as a new beginning and I look forward to building an even stronger team right here in Osijek.”
Investments like this put eastern Croatia in the spotlight
“It’s precisely investments like these which succeed in putting Osijek on the global map, it’s proof that new technologies are being developed right here in our city,” said Dragan Vulin, Deputy Mayor of Osijek, in his welcoming speech.
“We proved the commitment of the Osijek city administration to the development of the local economy with yet another American investment, that of the company Jabil, for which we fought in competition with seventeen different cities across Eastern Europe. A decision was made to abolish the surtax from January the 1st, 2024, the rate of which stood at 13 percent, but unlike some other Croatian cities, we won’t be compensating for this by upping income tax. I believe that this is a good incentive for Mbanq and other companies to continue their business development right here in Osijek.”
Mbanq is a leader across the pond in the USA
Solutions for digital banking have long since left the framework of the financial industry and are transforming other branches of the economy as well. Across the pond on the demanding US market, Mbanq is one of the leaders in that segment (embedded finance), and some of the most interesting applications of their technology relate to digital banking for premium brands and for the organisation of large manifestations such as sports and entertainment events. As part of these events, an extremely large number and volume of monetary transactions are realised. The Mbanq platform enables their organisers to pay in real time, save big on commissions, and integrate with accounting and other systems.