Minsait expands its open banking product line with financial planning micro-services

Minsait, an Indra company, expands its open banking product line after signing an alliance with the start-up Coinscrap Finance to offer banks and insurers digital financial planning micro-services in Spain and Latin America.

Coinscrap Finance products allow institutions to launch new Fintech and Insurtech functionalities in less than four months on a much tighter budget. Using automatic rules and gamification, they aim to help the end customer to attain better savings through a great user experience, without having to alter their normal habits.

Minsait's innovative developments, such as Life Financial Planner (LFP), offer a 360º view of individuals' financial assets through bank aggregation, enriched with intelligence on non-financial assets (housing and vehicles).

The Coinscrap - Minsait product combination enhances the latter's banking and insurance product line and takes advantage of the opportunity of open banking to offer more advantageous and better-tailored financial and insurance products.

Therefore, the company adds innovative products with a high business potential, which have already been successfully tested in some of the main players in the financial and insurance market such as Mapfre, Bankia, AON, CASER Seguros or EVO Banco, among others.

Furthermore, the alliance contributes to Minsait's objective of promoting a new customer relationship model for banks and insurers supported by new digital technologies, the PSD2 directive and the opportunity Fintech brings to improving clients' financial health and nimbly adapting financial products and services to their needs.

"The combination of Minsait's financial planning products with our own products enables our business to flourish alongside a leading company in the digital transformation such as Minsait, and whose broad presence in Spain and Latin America allows us to accelerate our international expansion," says David Conde, CEO of Coinscrap Finance.

"Thanks to Coinscrap Finance, we are adding an innovative product to our open banking line so that our customers in the financial and insurance sector can help their clients meet important savings goals in the short term and in a very simple manner: through digitalization," says Vivian Clavel, Head of Innovation Proposals at Minsait.

About Coinscrap Finance

Coinscrap Finance (www.coinscrapfinance.com) is a Fintech/Insurtech company that provides financial planning micro-services to banks and insurers extending its value proposition mainly to the millennial audience and generating new business models from the analysis of its users' data. The company has positioned itself as the leader in micro-savings solutions in Spain, winning awards such as "Best Fintech Product" at the Product Hackers Awards and "Best Financial Management platform" by Faster Community.

About Minsait

Minsait, an Indra company (www.minsait.com), is a leading firm in Digital Transformation Consultancy and Information Technologies in Spain and Latin America. Minsait possesses a high degree of specialization and knowledge of the sector, which it backs up with its high capability to integrate the core world with the digital world, its leadership in innovation and digital transformation, and its flexibility. Thus, it focuses its offering on high-impact value propositions, based on end-to-end solutions, with a remarkable degree of segmentation, which enables it to achieve tangible impacts for its customers in each industry with a transformational focus. Its capabilities and leadership are demonstrated in its product range, under the brand Onesait, and its across-the-board range of services.

About Indra

Indra (www.indracompany.com) is one of the leading global technology and consulting companies and the technological partner for core business operations of its customers world-wide. It is a world-leader in providing proprietary solutions in specific segments in Transport and Defence markets, and a leading firm in Digital Transformation Consultancy and Information Technologies in Spain and Latin America through its affiliate Minsait. Its business model is based on a comprehensive range of proprietary products, with a high-value focus and with a high innovation component. In the 2020 financial year, Indra achieved revenue of €3.043 billion, with more than 48,000 employees, a local presence in 46 countries and business operations in over 140 countries.