Pioneering payment solutions for
+300 million users

SIBS PayForward

Pioneering payment solutions for
+300 million users

SIBS PayForward

Type
Open Innovation

Area
Fintech

Purpose
To enable a faster, easier and more secure way for payments.

Staying ahead in the rapidly evolving fintech landscape requires constant innovation and a deep understanding of emerging trends. SIBS, a global leader in financial services serving over 300 million users, recognizes this challenge.

To address this, they launched SIBS PAYFORWARD, a pioneering program designed to collaborate with and empower ambitious entrepreneurs developing cutting-edge solutions in smart finance and payments.

By engaging directly with startups, SIBS not only nurtured the fintech ecosystem but also maintained its position at the forefront of industry trends and technologies. In three editions, this initiative offered SIBS invaluable insights while driving innovation alongside the most promising emerging solutions.

Open Banking API

Blockchain

Artificial Intelligence

Cyber Security

Big Data

Robotics

Biometrics

Machine to Machine | IoT

Key Results

Solutions

Countries

Pilots

SIBS PayForward

The Impact

Revolutionizing Savings through Transaction Rounding

The partnership between Sibs and Coinscrap allowed to further develop a solution that empowers banks to offer their users a seamless way to save. Users can round up everyday purchases to the nearest euro, automatically channeling the “spare change” into savings accounts. This innovative approach fosters a painless and effective savings habit.

Fueling the Subscription Economy

A cutting-edge platform for creating and managing subscription services and recurring payments. Leveraging open APIs, this solution simplifies the integration process for banks and combines robust security measures with user-friendly interfaces to empower businesses to transition to subscription models and unlock new revenue streams.