Intelligent Issue 05 | Page 9


Auriga expands into CEE market for digital selfservice banking technology

Auriga , a global software provider for the omnichannel banking and payments industry , has announced it is taking a majority shareholding in F1 Solutions , a Warsaw-based , multi-vendor ATM , cash management and cash recycler software vendor . The deal furthers Auriga ’ s international expansion strategy and will help the business enter the Polish market and grow in Central and Eastern Europe ( CEE ).

Founded in 2014 , F1 Solutions is focused on software for cash management and multivendor applications for ATM machines and cash recyclers . Its software F1 TPS Suite runs on a quarter of ATMs in Poland , while its cash management solution system is used by the biggest banks in Poland . The full team of skilled analysts , developers and testers at F1 Solutions will be joining Auriga .
The F1 TPS suite , which like Auriga ’ s WinWebServer ( WWS ) software solution is hardware agnostic , highly adaptable and complies with the NDC / DDC environment / infrastructure , manages all self-service operations optimally with full insight . The software is designed to accelerate innovation through personalised
customer experience and adaptable development technology . It provides full support of processing all transactions and processes including withdrawals , cash-in , goods and services , etc , as well as cash management and active monitoring .

Retailers can capitalise as credit cards continue to fall out of favour

A recent survey found that less than half of Gen Z consumers have a credit card , representing a huge demographic change when compared to older age groups . More than half of Millennials ( 61 %), 65 % of Gen X and 81 % of Baby Boomers are all reported to carry at least one card . The same research also highlighted one other key difference – among Gen Z consumers that do use a credit card , 53 % pay off the total balance every month .

The generational shift bringing about the migration from credit cards toward alternative payment methods in the retail sector is already transforming consumer buying patterns and merchants need to get ahead of the curve . This is according to Deko , a Buy Now Pay Later ( BNPL ) platform .

The decline in credit card use , however , is not being mirrored by a reduced level of credit driven buying – quite the opposite as younger consumers are turning to BNPL who value its flexibility . Adoption rates among Gen Z are expected to increase from 36.8 % in 2021 to 47.4 % in 2025 .
Melanie Vala , Chief Commercial Officer , Deko , said : “ This increased uptake for BNPL is unsurprising considering the flexibility and convenience of BNPL finance solutions . The Gen Z and the Future of Retail report also indicated that this demographic cohort want the process to be as streamlined as possible .” www . intelligentfin . tech