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Cost savings

Matchi Trend Report - Digital Account Origination

Fintechs have helped to cut costs in the massive volume based transactions and processes in financial services, especially in the fields of digitizing workflow, document management, mobile engagement and communication costs.

The fintech revolution has been largely concerned with cutting edge solutions that promise to disrupt the financial service industries. However, we also have seen a great deal of innovations that are focused only on making a small part of the financial services industry more efficient, i.e. solutions that do things faster, cheaper and at lower risk

Overview


The broad areas where we are seeing fintechs yielding cost saving efficiencies are:

  • Digitising workflow – these focus largely on automating paper based tasks
  • File management – efficient storage, editing and sharing of electronic files throughout a workflow process
  • Mobile engagement – these range from client engagement like front office sign ups all the way to employee onboarding and training
  • Communication costs – these include cheaper mass communication as well as data enhancement applications that maintain correct databases for clients contact details

Some solutions

Digitising Workflow

File Management

Faster Prototyping

Mobile Engagement






More on Matchi: Matchi is a global fintech innovation match-making firm, since 2013. Matchi has worked with over 100 leading banks and insurance companies (FIs) around the world, and has a database of over 2,500 fintech firms. Matchi provides both a highly curated portal of fintech solutions, as well as bespoke projects for FI clients to source targeted fintech solutions aimed at the FIs focus areas / pain points. The global Matchi team has run Innovation Challenges and Market Scans for multiple FIs around the world, in markets as diverse as Canada, Japan and India, as well as searches in other geographies.

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