Fintech continues to be area of the Serbian and Eastern European development community not less than two decades with firms ranging from large global players to regional employers.
M&I Systems Group is definitely an innovation-driven leader running a business software and consulting, with 3 decades of expertise in projects across Europe and also the USA and business hubs in Serbia, Bosnia and Herzegovina, Croatia, and Austria. In the interview for Diplomacy&Commerce, Vladan Balaban, President of M&I Systems Group, talks about technological development, successful business endeavors and a stronger presence of global fintech services in Serbia.
Technological development has brought significant changes in the business of the financial market, and fintech is today considered one of the fastest-growing branches in the world. Has the potential of introducing new technologies within the financial sector been recognized in our region (Southeast Europe), and if it's, as to the extent?
Fintech continues to be part of the Serbian and Eastern European development community not less than 2 decades with firms which range from the very large global players such as FIS, with a 55 billion Euro capitalization, to M&I Systems Group, a regional employer providing fintech services on the global scale. With that said, the full potential of fintech is not fully recognized in our region, there is a lot of opportunity both in emerging technologies such as blockchain and RPA, to traditional systems.
The fact that M&I Systems Group continues to be developing projects in this field for almost a decade shows that there are local firms that are prepared for the “fourth industrial revolution”. What impact did the partnerships with foreign firms that are leaders in this subject today have?
M&I Systems Group works with firms such as Sterling Trading Tech, a US-based provider of monetary technology. STT's products handle over 10% of america daily equity volume and supply risk management services to firms on the global basis. M&I additionally provides teams to Lightspeed Trading, a leading Broker for active traders majority-owned by Wedbush and Wedbush Capital, the west coast based financial firms. The collaborations have formulated a deep pool of talent in Novi Sad and shown that M&I Systems Group can function both with technology firms so that as an outsourced tech department for non-tech firms. The work has led to other engagements.
As an extension of successful endeavors within the fintech sector and a partnership with STT, M&I Systems Group announced the outlet of the Centre for the Development of Financial Technology in 2023. What tasks will the Centre employees have?
Blockchain work, crypto trading platforms, working on global capital market projects to name a few. More importantly, our employees will be subjected to and part of the innovative changes and developments in the rapidly third world of fintech. It is an amazing chance of those that are just starting inside the development as well as the more senior colleagues to collaborate with this partners from around the world.
How much will the outlet of the centre contribute to the introduction of the fintech industry in Serbia?
A great deal! The large financial capitals of the world such as New York and London depend on obtaining a critical mass of people together. The M&I Systems Group Centre will aim to duplicate this having a space in which fintech teams can get to collect to share ideas and best practices. Talks will be focused around technology- and finance-related topics.
Is a greater existence of global fintech services expected in Serbia?
Absolutely! For example, M&I Systems Group will probably more than double its fintech staff to support the growing need that people witness on a daily basis. Market the weather is good for the Serbian technology sector with views to keep growing.
