We at Cinovo believe in the change of the financial industry - towards an economic, agile, transparent, valued service which will be completely client driven. The usage of new technology to develop financial services will enable the future of the financial industry.
For FinTechs, revolution and innovation is generally happening „in the front“. From a financial servicers point of view, „the front“ is where market and customers are. They focus especially on payment and plattform products that offer clients innovative access and experiences in the financial world.
Very often, there is less innovative focus on the „(back) end“. From a financial servicers point of view that „end“ is where sales, traders, backoffice employees, accountants and risk managers are –further away from market and customers. In this area, the core competence lies in processing and rules, lesser in revolution.
FinTechs rely on the processes and rules to fuel their interfaces. Classic financial servicers are offering an infrastructure for accounts, depots, payment processing, credit management and trade backoffice – essential services for financial businesses. This infrastructure is from the 70s/80s, though. „Real time access“, „API“ and „Big Data“ don’t exist in this world. The existing infrastructure blocks truly innovative financial products.
If the revolution of trading should succeed entirely – processes and rules in the backend should be focussed on, first! Innovative banks and FinTechs need a new core trading system, that fully understands all processes - front to end - as one. It has to be real time, fully integrated and automated. Only that’s where you get a chance for a real revolution!
We believe in a „front to end“ revolution. This is what we are working on. Let go of old infrastructures – become free to think about what your clients truly want. Focus on innovative ideas, enabled by a new core solution.
Be a complete FinTech.
Not only in the front.