Written by S.R.

An IBAN tailored to your business. You can request thanks to Em@https://www.aziendabanca.it/notizie/emoney-iban-personalizzatoney, a Maltese company that allows you to choose 18 characters from those that make up the code. And the company would also be working on the portability of the IBAN.

A more recognizable and memorable code, the IBAN created in this way can become, for example, MT90EMON02015000000INVENTALOTU for the owner of the shop “Invoveo tu”. The IBAN, active throughout the Sepa area, is associated with any of the payment instruments offered by Em @ ney: payment card, wallet or other. Those who receive a payment with Em @ ney will then be able to immediately recognize who sent the money. The service is also part of the Em @ ney “pay per use” policy and is sold as a separate product compared to other payment services.

«We are the first electronic money institute in all of Europe to offer IBAN, – explains CEO Germano Arnò – while typically the Imel provide a shared IBAN, as we have always done. We realized that, especially in recent times, some users used this code as a sort of identification of their business. So we decided to offer not only the personal IBAN but also personalized and customizable ».

Player refunds Betsolution4u: MGA chooses Em @ ney’s electronic cheque

There are thousands of game accounts blocked, with deposits ranging from a few euros to a few hundred, since the activity of the Maltese bookmaker was interrupted as a result of involvement in an investigation started from Italy. Following the clearance of the Maltese gaming authority (Malta gaming authority) Betsolution4u was able to proceed with the reimbursement of the gaming account balances present at the time of suspension through the electronic cheques of IMEL Em@ney. The issue of issuing electronic cheques – reads a note by Em @ ney – is already operational. The technical contribution of the MGA and of the professionals appointed by the owner was fundamental for the emission activity to be carried out quickly. In case of non-receipt of the cheque the players with available balance on one of the sites operating under the Betsolution4u license, can send an email with the payment request to the address pagamentibs4u@gmail.com indicating Username, name, surname and balance available at the time of suspension of the service. The instrument chosen, the electronic check of Em@ney, provides the necessary guarantees required by the MGA, namely the speed of repayment, the simplicity of collection and compliance with the financial laws of each country in which the holder of the closed gaming account resides in its time. “Our instrument, which we presented in London two years ago, was also used for the so-called switch off of some online gaming operators who have acquired the Italian concession” explains the CEO of Em@ney, Germano Arnò “for allow Italian users to use their funds on the site of the bookmaker, with .it domain, in a simple and guaranteed way. The procedure obeys the restrictions on anti-money laundering, including the measures envisaged by the EU under the fourth directive, although they are not yet fully applied in many European countries: money is tracked and operations are transparent. As already happened before, the player will receive an electronic cheque by e-mail, with all the data on how to collect it at no additional cost, even staying comfortably at home and depositing it at them bank. Simply indicate the code shown on the electronic document, a little ‘as with air or rail tickets purchased online. “La Mga has evaluated the advantages that our tool entails for the player” adds Arnò “in terms of simplicity and security compared to traditional payment instruments. The electronic cheque does not involve risks of loss or destruction, which are inevitable for the paper cheque sent by post. The transfer, on the other hand, arouses distrust in the user who usually does not willingly provide the data of his bank account to entities that are not IMEL or banks “. lp / AGIMEG

the bank of the future

The FinTech revolution will take longer to put roots in Italy than the United States and this will be good for those workers who will be replaced by artificial intelligence. On the other hand, the future-to-digital bank, which will use blockchain technology and will work with critpualuts, will also allow a large reduction in business management costs and improved customer services.

In an interview with Wall Street Italia, Germano Arnò, founder and CEO of Em@ney Plc, a financial institution specializing in online money transfers, said in an interview with Wall Street Italia. The entrepreneur is convinced that despite major changes, Europe is not yet ready for a wholly cashless society. At least in the next ten years the cash, with which 80% of the money transactions in Europe this year, will not be completely abolished.

WSI: Tell us about your e-check project and how and why this technology could change the banking world.

Germano Arnò: The idea of ​​the e-cheque arises from the need to reduce the banks’ management and retention procedures and improve the beneficiary’s user experience. If we think that only 186 million cheques per year are issued in Italy, the extent of the electronic check is coming soon.

Em@ney’s e-cheque has seen light in 2015 and the first application for which it was used was mass gambling payment online gambling and therefore complies with EU rules on KYC (Know Your Customer) and anti-money laundering.
The electronic cheque requires the sender (from web or mobile) to indicate the name of the beneficiary, place, date and amount, just like the traditional paper; the sending is done via telematics, typically via e-mail, but not only and can be collected in cash, at the agreed points, or by depositing it on the bank account through homebanking. The total collection method is 7 and as for a circular cheque, the coverage of the electronic cheque is guaranteed by the issuing bank. In Italy we have already issued 1 million e-cheques since the beginning of 2017.

WSI: What are the short-term capabilities of blockchain technology and what opportunities does business provide?

GA: Blockchain technology can have multiple uses depending on the industry in which it is applied. With regard to the financial sector, it allows to lower costs and the complexity of technological infrastructure, speed up data transfer processes and, above all, increase the transparency of the transactions carried out, thus enabling easier compliance with regulations for the financial sector.

WSI: In Italy, FinTech is still far behind, although the realities that are pointing to us are growing: when will this revolution take root, will she take control of the system by losing traditional banking?

GA: Traditional banking is converting to the fintech, what is happening now is a slow fusion between the old and the new way to make a bank. In my opinion, the bank of the future is a bank using blockchain technology, it works with criptovalute, it is fast and dynamic, but it will be subjected to the same dynamics we know now where access to liquidity and rigid regulations govern its activity and trends. This is the bank’s vision that I and my co-workers want to create and for which we are already working on the launch of an Initial Coin Offer (ICO) that will allow a large audience to invest in the bank of the future.

WSI: FinTech: What is the estimate of the loss in terms of human and labor, and what are the benefits in terms of cost savings and bank efficiency improvements?

GA: Certainly the losses in human and work terms will be high, while the fact is already heavily influencing the work landscape, just take JP Morgan, for example, to have a clearer picture of what’s happening. JP Morgan, the largest US bank, is one of the largest employers in the US banking sector with over 240,000 employees serving millions of customers. Some of these employees are attorneys and loan officers who spend a total of 360,000 hours a year performing a series of trivial tasks, such as the interpretation of commercial loan agreements.

Now, the company has managed to reduce the time spent on this job in a few seconds using artificial intelligence. What about those people? Will they really be employed in higher added value activities without affecting the total number of employees? I sincerely doubt it. Obviously, these IA systems have an exorbitant cost, and I do not think they are still “accessible” to Italian banks so the impact of the fint


the seven methods of collection: as for normal-a cashier’s check, the allowance Electronic coverage is guaranteed by the bank that issues it.

Who wants to replace the cheque
OF THE BANKS. IMPROVING THE USER’S EXPERIENCE OF BENEFICIARY. Dematerializing is not enough. The new password for the checks is
“replace”. Technological innovation aims to replicate the features of the cheque, or at least part of them, in new natively digital tools. A total replacement of the paper even at issue, so, and not a “copy per image of the check on computer support”, with all the certification requirements of the digitization process. At stake, there is a market that saw, in 2016, the issue of 186 million paper cheques only in Italy.
Plick: between P2P and wire transfer
In the order of time, the latest reality that has been set to challenge the cheque is Plick. It is a service offered by an Italian startup (PayDo) led by Donato Vadruccio, manager of a leading Italian bank, and the Administrator
Only Massimo Grizzi. Plick is a mix between a wire transfer and P2P: it allows you to send payments without any amount limits, even if you do not know the beneficiary’s IBAN. Simply indicate the recipient’s mobile number or email. The latter will receive a link and will be able to cash out the amount by entering your own code IBAN: Potentially, anyone can receive a Plick account
current in the SEPA area, even if your bank did not join the service.
Unlike traditional checks, Plick’s receipt date may also be postponed, sending the recipient an irrevocable confirmation of payment.
Em@ney: 1 Million Electronic Cheques
Instead, it retained the format of the cheque, but in a digital version,the Em@ney solution, IMEL based in Malta but driven by the Italian Germano Arnò. Em @ ney’s Electronic Cheque requires the sender (from web or mobile) to indicate the beneficiary’s name, location, date, and amount, exactly like traditional cheque. The sending is done by telematics: typically
via email, but not only. And the collection can be done either in cash, at the agreed points, or by depositing on the bank account through home banking. For Em@ney customers, IMEL’s home banking is added.
In total, there are seven ways of collecting: as for a cheque Circular, Electronic Securities cover is secured by the bank who issue it. Em@ney’s solution, which has already issued over 1 million cheques in Italy since 2017, was born to respond to the payment requirements in the online gambling world and therefore respects the EU rules on KYC and

Plick is already here, the electronic cheque

Cheques are also revolutionized by “fintech”.

Fintech is a branch of the rapidly expanding economy whose etymology comes from the union of two words: “up” as finance and “tech” as technology. Fintech or financial technology is about digitizing the banking and financial system that uses technology to make the system more efficient.

A startup has developed a new way of making mobile payments, digitizing the paper component and centering the offer on the current account. It will be presented in Milan on October 10 but according to the anticipations “it is already getting the membership of many banks”.

This, albeit theoretically, was possible already since 2015, with the publication in the Official Gazette of the regulation on the submission of electronic payments for bank and circular payments.

The first concrete example was presented last July in London by the Electronic Coin Institute “Em@ney”, led by Italian Germano Arnò based in Malta and operating throughout the Eea (European Economic Area) area.

Whoever issues it has an account with the financial company and, instead of the traditional paper check, fills out a form on its user page. Enter the beneficiary’s details and the amount. From then on the check exists and can be communicated by a simple e-mail to the beneficiary. Who receives it can cash it in the Em @ ney points on the territory, or pay it on your bank account, from your PC.