fintonic

Fintonic is a Spanish fintech company founded in 2012 by Lupina Iturriaga, Sergio Chalbaud, and Marcos Icardo. The founders leveraged their extensive backgrounds in banking and finance to create Spain's first personal finance app, pioneering the aggregation of a user's various bank accounts and cards into a single platform. Iturriaga and Chalbaud, who had previously worked together, identified a need to empower consumers with greater control over their financial lives, leading to the development of Fintonic. The company operates as a financial marketplace, targeting consumers in Spain and Latin America seeking to optimize their finances.

The firm’s business model is not based on charging users for the app; instead, it generates revenue by receiving a commission from the financial institutions on its platform when a user contracts a product. This B2B2C approach ensures the service remains free for consumers, aligning with its mission to act as an unbiased advisor. Fintonic was the first Spanish fintech to receive authorization from the Bank of Spain to provide both account information and payment initiation services under the PSD2 directive. The core of Fintonic's offering is its mobile application, which allows users to connect all their financial accounts to gain a holistic view of their spending, which is automatically categorized. A key feature is the proprietary 'FinScore', a credit scoring system that assesses a user's financial health based on their aggregated data. This score empowers users to secure better terms on financial products.

Through the platform, users can access a marketplace of personal loans up to €50,000 from over 45 financial entities. The service also extends to helping users find interest-bearing accounts, investment opportunities in real estate and indexed funds, and save on expenses like insurance. The company has received numerous accolades, including a Google Award for Mobile Innovation, and has attracted significant investment from partners like ING Group and PSN Group.

Keywords: personal finance management, loan marketplace, fintech, financial aggregator, FinScore, credit scoring, account aggregation, PFM, financial wellness, banking app, insurance savings, investment platform, PSD2, consumer lending, financial marketplace, Lupina Iturriaga, Sergio Chalbaud, open banking, financial data analytics, expense tracking