Fintech is experiencing its heyday. As larger financial institutions are forced to spend more on meeting regulatory compliance mandates, they have smaller budgets for funding innovations crucial to meeting expanding customer expectations. Advances in technology itself have decentralised the financial services industry from its traditional hubs and opened up entirely new markets, especially in Europe and Asia.
While Fintech companies themselves promise to ease and innovate on consumers’ financial interactions and partner with major financial institutions to increase access to their technology and services, they often lack the automation in their own financial and accounting processes that afford crucial efficiencies and insight into their business processes, as well as the scale to ensure sustainable growth.
By adopting a unified, cloud-based platform for financial management, Fintech companies can ensure the same level of efficiency and innovation in their own business processes that they are bringing to the banking and financial services sector as a whole.
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