Cost savings

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

• Autopilot is a web-based workflow solution that allows clients to automate their document driven processes
• Manages distribution and annotation of board packs electronically

File Management

• Secure cloud document storage with flexible file sharing

Faster Prototyping

• Cloud operating system to allow faster prototype development
• Mobile platform for creating your own mini applications, payments and communications

Mobile Engagement

• Mobile employee onboarding solution for inductions
• Mobile engagement platform for events , surveys, tutor learner instruction

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