Zafin’s 2016 Year in Review

2016 has been a transformative year for Zafin.

After the substantial growth of years past, our team spent much of this year enhancing the capabilities of miRevenue, our award winning banking software platform, and expanding our international efforts.

We’re taking stock of this past year as we look forward to continued growth and success in 2017.
 

2016 IN A NUTSHELL

In 2016, Zafin continued focus on three key areas:

  • Supporting our rapid growth through appropriate investments, expansion, and hiring
  • Contributing to global discussions about changes in the banking industry
  • Investing in our platform, miRevenue, to deliver the best solution on the market for financial institutions looking to enhance revenue, improve customer relationships, and enhance transparency

Focus on Growth

Growth has been a substantial theme in recent years, and there was no shortage of growth-related activities during 2016.
 
Our Toronto Centre of Excellence
 
Last year, we announced the establishment of Zafin’s new Centre of Excellence in Toronto to support implementation delivery to our current and growing list of Canadian and U.S.-based clients. The Centre opened in June 2016 and spans 12,000 feet across a full floor of a heritage building in the heart of downtown Toronto. Currently home to an army of 90+ delivery professionals, our Centre of Excellence signals Zafin’s commitment to build significant onshore infrastructure to support our North American client base.

Zafin's Toronto OfficeThe entrance at Zafin’s Toronto Centre of Excellence

 
Hiring for growth
 
We continue to action our commitment to build out a world-class global team to deliver value to our clients and drive forward innovation. To that end, we welcomed Nancy Langer as our new President and Chief Operating Officer. Nancy previously served as Executive Vice President and Chief Product Officer for Fidelity National Information Services where she helped drive an enterprise-wide product strategy across hundreds of products, made global product and R&D investment decisions, brought transformational solutions to market, and led venture capital investments.
 
We also welcomed Chris de Bruin as our new President, Digital Platform. Chris served as the Global Head of Retail Products and Digital at Standard Chartered, where he oversaw all retail product business across 32 countries, including all related technology platforms and digital platforms. He was also the key architect and executive sponsor of Standard Chartered’s award-winning digital transformation program across 18 countries. Chris’s distinguished career will be invaluable to driving forward Zafin’s digital platform in a rapidly changing digital banking environment.
 
Finally, we are proud to have Sibel Turkmen on board as our Chief Financial Officer. Sibel joined Zafin from D+H Canada, where she was Global Controller and Chief Accounting Officer. Prior to her role at D+H, she held Executive Vice President and Chief Financial Officer positions at Turkish Telecom GSM-Business-Avea, Vodafone Turkey, Deutsche Bank, Finansbank and Anadolu Group for 15 years. Sibel’s experience growth management and strategic planning is a great asset to Zafin as we continue to pursue market opportunities.
 
Fintech delegation to the UK
 
In December 2016, Zafin joined 12 prominent Canadian fintech companies traveling to the UK as part of a mission spearheaded by the Department of International Trade and sponsored by British Airways. Zafin spent four days gaining valuable insight into the UK market form industry experts and mentors. Given the incredible momentum Zafin has had in the UK and Europe over the past year, the UK provides a strong base from which to expand our efforts in the region. We were also proud to help open the London Stock Exchange on December 4, 2016.

LSE opening

Nancy Langer of Zafin helping to open the London Stock Exchange

 

Global thought leadership

Zafin contributed to several recent discussions at leading banking conferences in 2016. Zafin was a proud sponsor of the GFMI Retail Banking events in Toronto, London, and New York. At these events, Zafin spoke to several key issues facing the banking industry today, including deposit pricing optimization and growing retail deposits. We also sponsored a GFMI Corporate Banking event in London in November 2016, where we contributed to discussions about how banks can better drive forward their corporate deposits strategy.
 
Sibos 2016 was another great event for Zafin. Sibos is the world’s premier financial services event organized by the Society for Worldwide Interbank Financial Telecommunication (SWIFT). This year, Zafin was on hand to discuss how technology can help make the business of transaction banking better for both banks and their customers. It was a great venue to contribute to discussions about how banks can use technology to optimize the role of product and client management. We were also able to provide tools on site to help banks identify the quantity of revenue leakage they face – and how to plug that leak. For more information on our revenue leakage calculator, contact us directly at http://zafin.com/contact. We look forward to Sibos 2017 in Toronto!
 
Zafin’s Relationship Banker, our thought leadership hub, continues to be a source of insight for bankers worldwide. This year, we published extensively on driving transaction banking growth, defending and growing deposits, the importance of data governance, the implications of PSD2 regulation in Europe (and beyond), and a stronger path to digital transformation.
 

Future-proofing miRevenue

Zafin has spent the last year laser focused on our mission: making the business of banking better for banks and their clients. Our clients believe in the strength of miRevenue as a holistic solution to help them boost profits while meeting regulatory requirements. We’re proud to say that we have a 100% client retention rate.
 
Our corporate banking solution was recognized earlier this year when CIBC won the Celent Model Bank Award for Cash Management and Trade Finance. Using Zafin’s miRevenue, CIBC was able to benefit from a centralized data catalog for products and services, including automated consolidated billing, automation, and standard and exception pricing. As a result of their miRevenue implementation, CIBC was able to launch products 50% faster than previously. To learn more about the award-winning implementation, please download the case study here.
 
The Deloitte Technology Fast 50 and 500 programs also recognized Zafin for a third consecutive year. The programs celebrate leadership, innovation, and rapid growth in the Canadian and North American technology sectors, based on the percentage of revenue growth over the past five years. We are proud for our ongoing and consistent recognition from Deloitte.

Other notable mentions:

  • We were nominated for the 2016 Canadian Fintech awards in late October
  • Our client was shortlisted for the 2016 Banking Technology Awards
  • Our President and CEO, Nancy Langer, won Silver at the 2016 Stevie Awards for Women in Business. Her win follows a Bronze medal at the 2015 Stevie Awards for Women in Business

 

Looking forward to 2017

Zafin commits to enhancing miRevenue’s technological and digital capabilities to continue delivering on commitments to clients and prospects. We are aggressively pursuing growing market opportunities, and look forward to elevating the business of banking with our commitment to research and development.
 
We want to take a moment to thank all of our clients, partners, and team for another successful year. We couldn’t have accomplished all we have in the past year without you.
 
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Stay tuned for all our latest updates via LinkedIn and Twitter.

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