Financial Technology - FinTech

Fintech refers to the integration of technology into offerings by financial services companies in order to improve their use and delivery to consumers.

Overview

The integration of digital transformation solutions in the financial sector leads to automation in various business operations and elevate the customer’s experience. It helps fixing operational issues like budgeting, offering customer support, and detecting frauds. It is therefore predicted that FinTech is bound to grow by 25 to 30% between the years 2019 and 2025.

Advantages

  • Faster Rate of Approval: It has the potential to increase accessibility and greatly speed up the rate of approval, in many situations, the application and approval process can be completed within 24 hours.
  • Better Convenience: It makes uses mobile connectivity to enhance the efficiency and convenience of transactions, easier to streamline their processes and provide a better customer experience.
  • More Personalized Service: FinTech firms not only enjoy lower operating costs, but they can more easily react to consumers’ individual needs because they have greater access to a range of information about them.
  • Advanced Security: Harnessing the latest mobile technologies has resulted in providing major security to ensure consumer data is kept safe, along with biometric data and encryption.

Case Studies

Case Study 1: A Leading global investment bank

Datum provided an integrated solution to automate their Non-ALERT Standard Settlement Instructions (SSI). The on-premises deployment consisted of RapidCASEMANAGER, RapidCAPTURE & RapidCONTENTSERVICES.

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Case Study 2: Department of Financial Services, USA

Datum’s provided solutions that includes Software Development/Configuration, Maintenance, and managed services for Department of Financial Services.

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