During lockdown, banks and insurance companies continued to provide services (mostly digitally) to their customers, some having to rethink traditional operating models and digitise at speed. However, for many customers conversion to digital is not straightforward. Assistance solutions like co-browsing, video call centers, virtual branches became a necessity while technical solutions for rapid, context agnostic implementation lacked in the market.
FintechOS’s cloud-native technology has been rebuilt to enable FS organisations to act and react much faster to the new digital reality and ensure business continuity whilst keeping it both simple and safe for employees and customers.
FintechOS, the global provider of technology for the digital transformation of banks, insurance companies and other financial services organisations, has launched its latest version of technology – FintechOS 20.R2.
The technology has been redesigned and re-engineered in the last months to help Financial Services organisations respond quickly to the Covid-19 crisis and close fast remaining digital gaps. Furthermore, the upgraded technology empowers them to easily roll out end to end, hyperpersonalised digital customer journeys with unparalleled speed to market, enhance digital engagement and meet changing clients needs.
Some of the main benefits and product enhancements include:
• Faster and more cost-effective: The FintechOS Innovation Studio was rebuilt around customer journeys to empower banks and insurance companies to open up innovation and develop end to end customer journeys at speed. Non-technical teams can easily design and build hyper-personalised customer journeys; and they don’t have to start from scratch – they can use open-source, pre-built customer journeys to hit the market in weeks instead of months.
• Better digital collaboration capabilities: plug & play capabilities like video-calling, remote assistance or co-browsing help banks and insurers enhance self-serve digital journeys with a human touch and adapt extremely fast to the new digital reality. All combined with low code, secure deployment of business automation processors directly into customer journeys (i.e. OCR, Liveness, KYC tools, decision or calculation engine).
• Data driven, automated digital journeys due to the enhanced data core with API (REST and SOAP) out-of-the-box capabilities – by seamlessly connecting to internal legacy systems and external data streams (fintechs included), FS firms can enhance and automate digital journeys and tackle customer experience gaps.
”We are experiencing an accelerated demand for rapid digitization of existing and new product streams in financial services organisations in the last months. We stand behind our customers and partners, striving to implement solutions that are both adapted to the current situation and promise long-term impact. Even in these difficult times, we’re committed to developing the tech of the future and bringing it forward into the present”, said Teodor Blidarus, CEO and Co-Founder of FintechOS.
FS organisations’ need for digital solutions has increased significantly since the beginning of the Covid-19 pandemic, reflecting widespread behavioral change among consumers. In the UK, France and Germany, for example, 60% of consumers say they are using less cash today and 22% expect to bank online more in the next 1-2 years.
It’s clear that for both FS organisations and their customers “business as usual” will look very different in the post-lockdown world. FintechOS latest version of its transformative financial services technology equips banks and insurers to respond quickly to the new economic reality.
Launched in 2018, FintechOS has onboarded 40+ banking and insurance clients across the world. Millions of people globally are successfully consuming hyper-personalised products and services using FintechOS technology.
In 2019, FintechOS closed its Series A round of investment of about 14 million USD – placing the company among the best-funded European start-ups, according to a CB Insights report.
In the first quarter of 2020 FintechOS consolidated its growth by increasing YoY revenues by 300% in comparison to Q1 2019. FintechOS also doubled the number of new customers during the COVID-19 crisis compared to the 6 months before the pandemic.