In the context of AmCham's 30th anniversary, Gabriel Croitoru, CEO Transfer Rapid, shared his perspective on the evolution of the technology sector in Romania, the advantages on which the tech industry has build a robust presence and what the future holds. 

The interview is included in the AmCham30 Brandvoice for Forbes Romania, July 2023 edition.

Over the years, Transfer Rapid, a leading company in Romania's IT&C sector, has witnessed a remarkable evolution marked by creativity. The company's recruitment, motivation, and education policies continuously encourage the innovative potential of young IT professionals. The expansion of entrepreneurial education in Romania, combined with the creativity within the IT&C sector (a positive aspect), has contributed to its growth. However, limited job opportunities primarily focused on services and maintenance (a less positive aspect) have restrained its full potential. To create a significant and globally competitive RomFintech cluster, the sector will require investments in human capital (venture capital) and protection for research and development (IP).

The Contribution: Democratizing Innovative Payment Technologies

Transfer Rapid's most significant contribution to the development of Romania's IT&C sector is the "democratization" of innovative payment technologies. The company focuses on developing multiple options that make these technologies accessible to all segments of the population. Romania leads the European Union in the number of unbanked individuals, and the lack of access to financial services condemns people to poverty. Transfer Rapid's technology ensures access to financial infrastructure for anyone, anywhere, anytime, regardless of their financial or technological literacy, thereby contributing to financial inclusion.

The Biggest Risk and Opportunity for the IT&C Sector in the Next Decade

Efficiency in processes (AI) and the development of services that offer immediate gratification to modern individuals represent opportunities for the IT&C sector. However, the major risk lies in creating a digital elite that aligns with the economic elite, leaving many people and economies behind. We will witness a global competition to create and protect competitive advantages in the IT&C sector. Romania has a chance to compete in the global arena through IT&C and contribute to its own development in this field.

>> Read the full article here

>> Learn more about Transfer Rapid