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Rapid prototyping

Matchi Trend Report - Digital Account Origination

The integration of new technology into legacy banking systems represents an expensive investment in time and money. Fintechs have developed applications that allow for rapid prototyping of integrations in POCs to determine quickly whether the innovations is feasible

The exponential increase in fintech solutions have presented a high quality problem for banks which struggle with third party integration into their legacy systems. In addition, the traditional large scale implementation of enterprise level software systems have naturally led to long implementation times. Banks have also either outsourced or developed bespoke solutions in house but are often hampered by internal processes that delay the development cycle which are absent in focused software development companies

The fintech environment have recognised this and developed some solutions to compress the development cycles by offering rapid prototyping solutions in different ways.

Some solutions

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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