Zurich - The Swiss bank Fiat24 has won the Banking Innovation Award in the Neobanks & Specialized Players category. Qorus and Accenture use the annual awards to promote banking innovations. Fiat24’s business model enables blockchain-based payment transactions.

Fiat24 from Zurich is a winner of the Banking Innovation Award 2022. This is awarded annually by Qorus, the international association established by banks and financial institutes, and the consultancy firm Accenture with the aim of honoring innovations in banking. According to a press release, there were 680 applications this year from 57 countries across the eight award categories. Fiat24 won in the Neobanks & Specialized Players category.

Fiat24 has developed a platform based on Web3 that can be used to process payment transactions via blockchain. Customers use a non-fungible token (NFT) for this instead of a password and with this, they can access all of Fiat24’s services. The bank then forwards payments on to recipients, or rather registers payment receipts for clients. These incoming payments can also be made in various currencies and from a variety of sources. Furthermore, Fiat24 is also already represented in the metaverse, where it provides its clients a presence, by acquiring a plot of virtual land.

Fiat24 is a brand of the fintech company SR Saphirstein AG, which was established in Zurich in 2018.

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