A global financial revolution is rapidly underway: those who do not innovate will be left far behind
SMEs in Central and Eastern Europe are increasingly making their mark on the international market – they are not only exporting, but also shaping the economic image of the region with their own initiatives. However, if we want to expand the range of these companies, new financial thinking and digital tools are needed. “Those who believe in the future choose new types of financial systems. Those who stick to old banking models are actually stuck in a past operation,” Pierre Antoine Dusoulier, founder and CEO of iBanFirst, told Economx, at the CEE Business Summit 2025, held on May 28 at the Radisson Blu Hotel in Bucharest and streamed live online.
Companies in the Central and Eastern European region are increasingly playing a prominent role in the international economy. Despite the economic and geopolitical challenges of recent years, medium-sized companies operating in the region – especially export-oriented companies with cross-border operations – have not only survived, but in many cases have also been able to grow. At the same time, there is a growing demand for financial solutions that support fast, flexible and cost-effective international operations.
According to data from iBanFirst, an emerging player in international financial services, more than 10,000 multinational SMEs across Europe currently use their platform. These are not traditional small and medium-sized enterprises, but medium-sized enterprises that process millions of euros worth of international transactions on a daily basis.
“They are extremely agile. They can make decisions quickly, adapt quickly, and are active players in the regional economic dynamism” – Pierre Antoine Dusoulier, founder and CEO of iBanFirst, told Economx.
The company handled over €30 billion in foreign exchange transactions in 2024, demonstrating the demand for solutions that go beyond traditional banking. The growth is particularly noticeable in markets such as Hungary, Romania and the Western Balkans, where efficient foreign exchange management and fast international payments are key issues for small and medium-sized businesses.
Digital transformation and a new mentality
According to Dusoulier, the region is undergoing a transformation not only in terms of technology, but also in terms of business thinking. “Those who believe in the future are choosing new types of financial systems. Those who cling to old banking models are actually stuck in a way of operating in the past,” he emphasized.
The platform offered by iBanFirst not only enables fast and transparent international transfers, but also provides personalized IBAN (International Bank Account Number), real-time exchange rate monitoring and currency risk mitigation. All of this is especially valuable in the current volatile economic environment, where speed of decision-making and cost control are vital.
The founder revealed that the choice of name can be traced back to the acronym IBAN, as the company has deep integration into the SWIFT network, through which the international account number system is accessible.
Other directions
The financial needs of Central and Eastern European companies have become more complex. A bank account and a basic payment service are no longer enough. International presence and integration into global chains require professional currency management, rapid liquidity mobilization and transparent pricing.
The fintech sector clearly has an advantage in this new environment, as it is much more accessible than traditional banking solutions, and the various licensing processes are usually completed faster.
“We respond faster to market needs and often offer customized solutions to companies pursuing international expansion, M&A activity or even simple cross-border account management,” underlined Pierre Antoine Dusoulier.
New investor logic
There is also a growing sense of economic confidence in the region. While CEE companies were previously mainly targets of Western investment, they are now increasingly acting as initiators. In 2024, the number and value of cross-border transactions in the region set a record – the €23.3 billion in M&A activity no longer reflects the unilateral presence of Western capital, but rather the growing strength of regional players.
According to Dusoulier, in this environment, the key player in financial infrastructure is the service provider that is able to speak the language of the region’s economic actors and create value for them.
Technology, automation and flexibility
“iBanFirst’s goal is to offer its clients automated exchange rate optimization and risk management based on artificial intelligence (AI), and thus further increase the level of service. Developments in this direction not only represent a technological leap, but can also make the daily financial operations of medium-sized companies more predictable and competitive,” said Pierre Antoine Dusoulier in response to our newspaper’s question, highlighting the importance of fintechs also placing great emphasis on technological development, as new and innovative solutions are constantly emerging.
Central and Eastern European companies now have a strategy not only for survival, but also for growth. However, to do this, they need partners who can keep up with the pace – whether it’s technology, mindset, or international market connections.
Expansion within a region is often the first step towards global markets, as cultural similarities, regulatory environments and market operating characteristics offer a safe, low-risk environment for first international steps.
“We are working to make international trade excellent, fair and accessible to everyone, including Central and Eastern Europe,” he emphasized.
The question is not whether the storm will come, but whether we are prepared for it.
US President Donald Trump is using extra high tariffs as a negotiating pressure, and this is not just a rhetorical tool. Valentin Marinov, head of global FX and UK research at Crédit Agricole CIB, said at the CEE Business Summit in Bucharest that, paradoxically, the biggest loser in trade wars will be the United States.
The situation of Central European central banks, including the MNB, is very complicated: due to the instability of currencies, they may relax more cautiously, even if the economy’s growth would justify it. Regarding the forint exchange rate, he said that the volatility of the Hungarian currency will remain in the long term.
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This article was published in Economx.hu.