Month: November 2024

Wiser Technology’s Revenues Quadrupled in Q3 2024 YoY

by Agnes

In brief

  • 310% YoY revenue increase
  • 28% gross margin and 6% EBITDA margin
  • Q3 Earnings Call planned for 10.30 a.m. EET on December 5th, 2024

Sofia, Bulgaria, November 29, 2024 – The consolidated revenues for the third quarter (July-September) of 2024 of Bianor Holding AD (BSE: BNR), operating under the brand Wiser Technology, grow 310% year-over-year to €7.4M from €1.8M during the same period of 2023. Wiser Technology reports a financial result before interest, taxes, and depreciation of close to €0.5M for the third quarter of 2024, or an EBITDA margin of 6%.

“In Q3, we began the integration of all Wiser companies under a unified organization and brand and made very significant progress while also finalizing the M&A transaction with Badin Soft,” said Kosta Jordanov, CEO of Wiser Technology. “Fuelled by M&A activity, our revenues continue to grow rapidly, and our client base continues to diversify. At 28%, our gross margins are at the level of global IT service leaders’ margins, and despite the integration overhead, in Q3, we achieved some partial EBITDA margin recovery as we shift focus from M&A back to operations. We expect to see more consistent EBITDA margin improvement in the second half of next year when we approach the final phase of the integration project. Meanwhile, we continue to make aggressive investments in organic growth, examples of which are the recent establishment of an office in Frankfurt and the appointment of Johan Bihl, former Strategic Sales Director at DXC, Wipro, and Capgemini, to head our operations in the Nordics,” added Jordanov.

Wiser Technology’s shares trade on the Premium segment of the Bulgarian Stock Exchange under the ticker BNR. The company recently completed a €12.3M capital increase from the public markets. Subject to approval by the General Assembly, the management plans a capital increase of 160,000 shares to distribute among all team members, fostering a culture of ownership and collaboration, key prerequisites for the company’s continued growth and success.

Wiser Technology’s Q3 Earnings Call will take place at 10.30 a.m. EET on December 5th, 2024. The meeting will be online and open to all analysts, investors, media, and the public upon registration.

Bringing Innovation and Superior CX for Abu Dhabi Commercial Bank

by Agnes

Client at a glance

39 yearsFounded in 1985
#3Largest bank in UAE
1m +Private customers served

Accelerating Digital Transformation with Mobile-First Innovation

As part of its five-year strategic roadmap, ADCB is committed to delivering world-class customer experiences through comprehensive digitization initiatives. By leveraging our expertise in user experience design and emerging technologies, ADCB is now positioned to drive innovation and strengthen its leadership in the region’s financial sector.

Challenge

Abu Dhabi Commercial Bank (ADCB), one of the UAE’s leading financial institutions, embarked on an ambitious digital transformation journey to reshape its customer experience. The goal was to create a unified, paperless process for all individual private customer interactions, covering every phase of the journey—from onboarding and KYC to ongoing customer engagement. ADCB aimed to make every interaction digital, seamless, and compliant, while evaluating alternatives to their existing development tools to enable faster, cost-effective innovation.

Our Approach

To support ADCB’s vision, we developed a Proof of Concept (POC) using Flutter and Open Bank APIs. The POC demonstrated Flutter’s potential as a platform for rapid prototyping and cross-platform development, providing a rich, customer-focused experience. Key features of our solution included:

  • Mobile Applications: Fully functional iOS and Android apps with a focus on superior UI and CX.
  • Enhanced Customer Journeys: Designed flows for personal finance applications and upgrades to Excellency membership.
  • Technology Validation: Showcased Flutter’s advantages, including:
    • Near-native app performance.
    • Ease of creating complex UI animations.
    • A shared UI and business logic across platforms.
    • Reduced development time with ready-to-use widgets.

Our solution not only redefined customer interactions but also helped ADCB evaluate Flutter as a strategic platform for future mobile banking projects.

Impact Delivered

  • Superior User Experience: Delivered mobile apps with a fresh, intuitive design that enhanced customer satisfaction.
  • Accelerated Prototyping: Enabled faster time-to-market with streamlined development workflows.
  • Cost Efficiency: Demonstrated significant cost savings through reusable code and a unified development approach.
  • Future-Ready Technology: Provided ADCB with a scalable solution and insights to inform their mobile banking strategy.

Expertise and Scope

  • Tech Stack: Flutter, Open Bank APIs
  • Focus Areas: Cross-platform mobile app development, rapid prototyping, digital customer journey optimization

NLP for Superior User Interaction

by Agnes

Client at a glance

$130M+Raised in venture capital
3,000+Customers globally
$10B+Managed outcomes

Advancing User Experience with AI-Powered Insights

Quantive (formerly Gtmhub) is a leading provider of strategy execution software and services, built on the Objectives and Key Results (OKRs) methodology. Their platform helps organizations achieve alignment, enhance visibility, and foster a results-driven culture. Quantive’s platform now offers an enhanced user experience powered by real-time semantic suggestions and predictive analytics. By combining cutting-edge NLP technologies with scalable infrastructure, we empowered Quantive to deliver smarter, faster, and more intuitive interactions that drive customer success.

Challenge

As digitalization drives innovation at unprecedented speeds, Quantive faced the challenge of optimizing its product to offer personalized and seamless user experiences. Specifically, they sought to:

  • Deliver customized recommendations for OKR creation and management, alleviating the complexity of self-service workflows.
  • Streamline navigation to Insights, ensuring users could quickly access the most relevant information.
  • Boost customer satisfaction by automating form fill-ins and improving usability.

Our Approach

To address these needs, we collaborated with Quantive to deliver a data-driven solution that leverages advanced machine learning and natural language processing (NLP) technologies.

Key actions included:

  1. Data Infrastructure:
    • Developed a PostgreSQL database connected to an automated pipeline in Azure Cloud.
    • Integrated Azure Data Lake and Data Factory for sourcing data from MongoDB, later orchestrated through Azure Synapse for scalability.
  2. NLP Integration:
    • Built an LSTM-based neural network using TensorFlow for automatic form fill-ins.
    • Deployed a pre-trained Transformer model to generate real-time semantic recommendations for Insights, integrated via gRPC microservices fetching data from a Kafka stream.
  3. Operationalization of ML Pipelines:
    • Automated data science workflows using MLflow, Jenkins, and SonarQube for model training, testing, and deployment.
    • Set up Grafana dashboards to monitor real-time service accuracy and performance, ensuring ongoing reliability.

Impact Delivered

  • Precision in Automation: Achieved over 95% accuracy in automatic entity recognition and form completion.
  • Enhanced Engagement: Significantly boosted customer engagement by providing timely, relevant recommendations.
  • Increased Usability: Improved adoption of OKRs and Insights features by streamlining workflows and enhancing user satisfaction.
  • Performance Excellence: Delivered a model service with a mean response time of 150 milliseconds per request, seamlessly handling thousands of customer interactions daily.

Expertise and Scope

  • Deliverables: NLP-based recommendation system, automated data pipelines, monitoring dashboards
  • Technology Stack: Python, TensorFlow, Keras, MLflow, Docker, Jenkins, SonarQube, Azure Data Lake, Azure Data Factory, Azure Synapse, PostgreSQL

Wiser Technology Plans Capital Increase to Award Shares to Employees

by Georgi Lazarov

In brief

  • Wiser Technology plans to appoint of Baker Tilly as the authorized auditor.
  • Capital increase of 160,000 shares to distribute among all employees.
  • A seasoned registered auditor joins the Auditing Committee.

Sofia, Bulgaria, November 7th, 2024 – Bianor Holding (BSE: BNR) has scheduled a General Assembly meeting for December 12th, 2024, to vote on key decisions, including renaming the company to Wiser Technology, updates to the Board of Directors and the Auditing Committee, the appointment of Baker Tilly as the authorized auditor, and a capital increase of 160,000 shares to distribute among all employees.  

“Earlier this year, the GA approved an Employee Stock Option Program as a performance-based reward program. Now, in addition, the board is recommending to the GA a one-time capital increase to provide every employee with an opportunity to own stock in the company,” said Ivan Dimitrov, Chief People Officer of Wiser Technology. “This move reflects our commitment to fully aligning our team with the company’s vision, sharing the company’s success with the people that drive it, and fostering a culture of ownership and collaboration to support Wiser Technology’s further growth,” added Dimitrov.

Selecting Baker Tilly, a globally recognized top-ten auditor, underscores Wiser Technology’s commitment to expanding its appeal to international investors and its dual-listing ambitions.

The General Assembly will also vote on the addition of two new members to the Auditing Committee: Kliment Nachkov, CFO of Wiser Technology, and Veronika Revalska, a registered auditor listed in the register under Article 20 of the Independent Financial Audit Act (ZNFOSU). Nachkov brings a wealth of experience from the U.S. banking sector and corporate finance roles at Prime Holding and Entrea Capital, Bulgaria’s top independent M&A advisory firm. Revalska’s auditing expertise includes overseeing audits for major clients, including Bulgarian Energy Holding, National Electric Company, Printing Works of BNB, and Allianz Bulgaria, during her time as lead auditor at HLB Bulgaria.

Another major decision planned for the upcoming GA is appointing two new members of the Board of Directors. Dimitar Dimitrov, CTO, and Georgi Sokolov, COO of Wiser Technology, are nominated to join the BoD. Dimitar Dimitrov is an IT entrepreneur and a professor at the Faculty of Mathematics and Informatics of Sofia University. He is a former VP “Development” at SAP and a member of the board of the Bulgarian Association of Software Companies. Georgi Sokolov is a software engineer and entrepreneur. He co-founded several Bulgarian software companies and founded the Bulgarian office of the multinational brand Reward Gateway, serving clients like American Express, Groupon, Yahoo!, IBM, and McDonald’s.

Earlier this month, Wiser Technology announced its seventh M&A transaction in the past 18 months, acquiring 100% of the Serbian software development company Badin Soft. Wiser Technology (BSE: BNR) trades on the Premium segment of the Bulgarian Stock Exchange and recently completed a €12.3M capital increase from the public markets to support the company’s further expansion.