Rockaway Prepares Another FinTech Project, Bank Account Alternative for the Young.

“We have examined how young people deal with money, what problems there are in existing solutions and how we can eliminate them by means of technologies,” says Milan Beutl, who runs the internal project of Rockaway, and he adds: “The result is a combination of standard payment tools such as contactless card with new options offered by digital age. The main point of the solution is the mobile app.” With respect to highly competitive environment, Beutl keeps the detailed information for himself until the product is launched – which is expected within a few months.

The tool has been developed since spring 2014 and it is one of the biggest internal projects planned for this year. It fulfills the vision of so called company building, i.e. the whole project from the idea itself to the realization is in the hands of Rockaway. ” I am convinced that thanks to strong partners and Rockaway´s know-how in the field of Fintech we will contribute to financial literacy of young people, and at the same time we will set a new standard for their shopping and financial behavior,” says Jan Jírovec, Rockaway´s investment partner responsible for strategic activities.

The big plans have been confirmed also by important partners – BSC Prague is a minor investor, and also ČSOB, ISIC and MasterCard are involved: “The market of personal finance is going through big changes. In MasterCard we consider innovations to be the only way to succeed in this competitive environment. We see Rockaway as an important player in FinTech innovations and we hope to open a new market segment through this common project, ” Miroslav Lukeš, Mastercard CEO, comments on the partnership.

Rockaway´s rich experience in personal finance can be demonstrated by the growth of ChytrýHonza.cz which became the biggest czech online broker for insurance products. Apart from Chytry Honza, there are also other FinTech projects, e.g. bankFacil, Brazilian leader in comparing financial products and services, or Fundlift.cz, the first Czech equity crowdfunding platform, prepared in cooperation with Roklen.