TECHNOLOGY
and the future of finance | Prof . Arman Eshraghi | TEDxCardiffUniversity
fintech as stable and critical to our digital society as it is today .”
In Jones ’ opinion , the ability to learn what users really need , paired with agility , is exactly how fintech brands are rising and dominating above traditional financial service businesses .
“ If you need some proof of this , just look at how modern digital practices improved our adaptability through the downturn of a global pandemic versus the financial crisis in 2008 ,” he says .
Convenience-driven technology The financial services industry has been hit by a demand for digital convenience , which in turn puts pressure on companies to invest in the latest technologies to ensure they offer the fastest services .
Paula Costea , VP of Business Solutions and Innovations at
FintechOS , says the issues in meeting this demand effectively means that financial services players have been held back by siloed systems and data . Teaming up with fintechs is currently the most logical solution .
She explains , “ By partnering with fintechs , they ' ve been able to run customer-centric products and services that integrate seamlessly with their legacy tech enabling them to be Lean and Agile – shaping today ’ s industry as a collaborative one .”
These principles , says Costea , have helped financial institutions to focus on customer needs , demands , build datadriven products and personalised customer experiences faster than ever . “ Using cuttingedge technology or integrating with fintech partners , they can prototype new types of offerings and launch them in the market , test them and only if the market receives it well , invest to expand it to a full-blown product ,” she explains .
84 June 2021