“Our goal is to be the all-in-one solution for transaction banking across Europe”

Following major advancements in 2024, such as the launch of a Public API and integrations with expense management and accounting platforms, Michael Wüst, CEO of amnis, discusses the company’s growth and future goals. In this interview, he shares the vision for 2025, highlights the company’s dedication to a customer-first approach, and explains the unique value amnis delivers to its clients.

Looking back at 2024, what were some of the key highlights and the biggest lessons learned, and how will they shape amnis’ strategy moving forward?

One of the standout highlights in the first year after launch was the exceptionally high adoption rate of our newly introduced card solution. An impressive 55% of our new customers and already 37% of all customers are benefiting from amnis multi-currency business debit cards.

Additionally, we successfully completed a major project in collaboration with Switzerland’s leading cloud accounting system, marking a significant milestone. This innovative fintech initiative provides over 80,000 companies with access to automated accounting for card expenses. We are now exploring similar projects in other European countries.

A key lesson we’ve learned is that the larger our customers are, the more critical seamless integration with their ERP, expense management, and treasury systems becomes. This poses a unique challenge, as we serve both SMEs and large enterprises, which often rely on entirely different systems.

What’s the one word you’d use to describe the company’s vision for 2025, and why?

Connectivity. In 2024, we launched our Public API and integrated with several expense management and accounting systems. This milestone marked the start of our Connectivity initiative, designed to help companies of all sizes seamlessly integrate their systems and boost efficiency. I strongly advocate for deeper integration between transaction banking, accounting, and other third-party systems. We have a unique opportunity to simplify business processes by delivering a truly integrated banking solution.

What initiatives or steps is your company taking to ensure a customer-first approach in your solutions?

Despite offering our services in a highly automated manner and at low or no cost, we strongly believe that finance executives and business owners deserve exceptional service. As a product-centric company, we focus on optimising the user experience and streamlining processes to minimise support cases. This allows us to offer direct access to experienced account managers through chat, email, or phone.

We have also implemented multiple channels for our customers to share their ideas and suggestions for improvements. We are excelling in this area, as evidenced by our low churn rate and high Net Promoter Score (NPS) of 70.

With fraud becoming more sophisticated and tools advancing daily, how is your company equipping itself to meet these challenges as a financial institution?

We recognise cyber risks and fraud as some of the most critical challenges facing financial institutions. To address these, we have invested significant resources in developing advanced security measures, leveraging AI tools to detect suspicious patterns, and educating our card users on best practices for fraud prevention. Additionally, we introduced features that empower card users to protect their cards against fraud. Our IT team works diligently every day to maintain and continuously enhance the highest levels of security.

How do you see fintech companies shaping the future of the banking industry, and what is your long-term vision for amnis?

Fintech companies today are uniquely positioned to transform the banking landscape. Free from the constraints of legacy systems, we can innovate and adapt to industry trends and customer needs more quickly than traditional banks. Our ambitious goal is to become the all-in-one solution for transaction banking across Europe, delivering enterprise-level solutions at a reasonable cost and with high automation to businesses of all sizes.

What distinguishes your company in the highly competitive fintech landscape?

Good question – We have developed not only innovative client-facing apps and features but also our own core banking system. This enables us to rapidly implement new features while maintaining low operational costs, ensuring both scalability and efficiency.

Can you share a recent moment of innovation or collaboration within the company that made you especially proud?

When we launched our German IBANs in July 2024, we became the first fintech in Europe to provide customers with access to local IBANs in Switzerland, Germany, and the United Kingdom. This unique offering, powered by our own national banking access in Switzerland and strong partnerships in Germany and the UK, allows companies to effortlessly pay and collect funds locally across multiple jurisdictions.

I am proud that it is our talented team and scalable setup that enables us to implement such product additions in months rather than years. A big thank you to the entire team for making such achievements possible!

What advice would you give to startups looking to break into the fintech space?

Execution is more critical than having the perfect strategy – success comes from taking action. To achieve this, creating an environment that empowers the team to experiment, learn, and adapt is essential. Resilience and the ability to pivot quickly are key to staying ahead.