Torus discusses the future of neobanks at the Forbes Cyprus The Future of Fintech

Torus is proud to support the Forbes Cyprus The Future of Fintech Summit
Vilnius, 12.12.2023
Torus became the bronze sponsor of the The Future of Fintech Summit by Forbes happening in Cyprus on Dec 7-8 2023.

Kirill Lisitsyn, Co-founder and CEO at Torus participated in a very exciting panel discussion “Neo banks: is the”. Panelist discussed aspects definiiton of a neobabnk and its convergence with thraditional banks as the incumbent banks are investing a lot into their digital channels.

Kirill pointed out the importance of neobanks’ operational profitability as one of the key factors to survive in today’s highly competitive banking market. And panelists agreed that the critical path towards operational profitability for neobanks is to extract insights from neobanks payments data and manage unit-level transactional profitability, including controlling and predicting the fees paid to card schemes like Visa and Mastercard.

The recording of the panel discussion is available here.
About Torus:

Torus believes digital payments, cornerstone of the cashless society, will become a real data-driven business and our ambition is to be at the forefront of this wave into a better future by providing more insights through our analytics platform. This starts with providing card issuers and merchant acquirers services to decrease cost and increase revenue and control (transparency) in an unequalled way. The Torus Analytics Platform enables issuers and acquirers to analyze scheme fees, manage control unit-level profitability and optimize pricing. In addition the Torus Consulting capabilities will advise and support to unlock the potential, ranging from joint business case production, implementation to actual repricing tracks to generate the profits forecasted.