Financial institutions

FintechOS launches in the US to drive digitalization in underserved financial institutions

NEW YORK, September 14, 2021 /PRNewswire/ — FintechOS, the Global Technology Provider for Market-Leading Financial Services Brands, Announces US Launch Following Success in Home Country EuropeAs good as inside Asia and the Middle East. FintechOS is forging ties with US credit unions and traditional banks to break down common barriers to digitalization currently hampering the market.

The digital solutions provider, which already serves 40 multinational banks and insurers in addition to fintech scale-ups in Europe, Asia and the Middle East, predicts intense demand for its U.S. offering. FintechOS plans to roll out intensive support and guidance to more than 15 new U.S. banking and credit union partners by the end of 2022. To meet the demands of this rapid growth, 100 new U.S. hires will be made in product management, sales, marketing and customer success during this time. By the end of 2022, the total global membership will exceed 400.

The FintechOS ecosystem enables its European members – banks, credit unions, community banks and insurers – to bring digital products to market faster than those outside the ecosystem; meet the efficiency requirements of customers and large-scale operations. With its low-code, modular approach that augments existing systems, the technology company enables institutions to build, test and scale new digital products and services in weeks rather than months.

In addition to the desire to provide U.S. banks and credit unions with the tools to make digitalization happen more easily, quickly, and on budget, largely unrealized opportunities in the marketplace drove the decision to expand Fintech OS. Market penetration of digital banking will increase from 75.4% of all US bank users to 80.4% of the 322.6 million people who use US banks by 2022. Legacy platforms that currently provide banks and credit unions with digital personal finance platforms in the United States, do not offer the “plug and play” functionality that FintechOS specializes in.

FintechOS has forged a framework for operational success in the United States, based on strong partnerships including Microsoft, Deloitte, Persistent and Capgemini and collaborations with category leaders, analysts, consulting firms and US investors. Strategic hires for FintechOS work on the continent so far include Senior Vice President of North America, Steve Rooneyas well as 100 regional product, sales and marketing specialists, who will be recruited in the coming months.

“FintechOS’ entry into the US market means banks and credit unions now have the opportunity to innovate quickly and build a strong position in the US market, during the current race to digitize. By 2024 , 4 out of 5 U.S. bank account holders will digitally interact with their bank at least once a month, underscoring the urgency for financial service providers to act just as quickly,” said Steve. “Our technology will enable the rapid launch of digital-only customer interactions by established banks and credit unions as well as new entrants in the growing US fintech space.”

“The United States is reaching ever-increasing levels of digital innovation in financial services. We are excited to enter the U.S. market while the digitization services available through banks and credit unions are still at ground level. Our customizable technology will enable institutions to start small, think big, and scale quickly, addressing the fact that many financial institutions that want to innovate quickly are underserved or underserved by current vendors,” added Serge Negut, co-founder and Managing Director North America at FintechOS. “Our customers can break the shackles of traditional layered, siled infrastructure, just like many digital native players have, but in broader use cases for multiple customer segments.”

About Fintech OS

FintechOS is driving a paradigm shift in the way financial products and services are created by making banks and insurers truly customer-centric.

We consolidate critical data from multiple sources such as existing databases and ecosystem APIs. This data-rich insights is automatically integrated into every step of the customer journey to create truly personalized offers. Our technology integrates seamlessly with existing IT systems and our low-code tools quickly enable organizations to design valuable customer experiences.

These capabilities enable our customers to tailor products, services and interactions to a segment of one, increasing return on investment and reducing time to market.

FintechOS Lighthouse is designed to create future-proof end-to-end banking customer journeys – it enables the delivery of smarter, more personalized products and services. Pre-built features and low-code enable organizations to quickly create value. Move away from legacy systems or keep them in place – anything is possible.

FintechOS Northstar, our customer-centric insurance platform, enables insurers to deliver smart products and services, at a faster pace. Our platform makes continuous innovation and rapid time to market a reality. At the same time, it reduces costs through end-to-end digital customer journeys and increased efficiency.

The FintechOS Innovation Studio opens access to innovation through a low-code framework. It’s a space where your non-technical teams can create and launch custom products and journeys, all data-driven and powered by automation.

More than 40 institutions use FintechOS, including Erste Bank, Societe Generale, Scotiabank, Howden Group Holdings, Vienna Insurance Group and many more. Our reach covers 20 markets and four continents. We manage more than $100 billion in assets and have offices in London, Amsterdam, New York and Bucharest.

To learn more, visit us at https://fintechos.com/

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SOURCE Fintech OS