Digital technology is setting forth a new demand for banks and financial institutions alike, causing them to rethink the way their services are delivered. The disruption in the industry is driven by evolving customer behavior. Consumers are looking for new service proposition which can make their lives easier and further enable them to manage their financials easily and proactively anywhere, anytime. The world is pushing for a new kind of financial services experience that serves real people in a digital, hyperconnected world, and the rising influence of fintech in the financial services sector is turning the goal of a digitally connected financial world into a not-too-distant reality.
It is apparent that fintech has extensively improved safe and accurate payment solutions, which allowed companies to proliferate but has simultaneously made fintech vendors continuously find new ways to protect sensitive customer and corporate data from cybersecurity threats. However, finding effective fintech solution vendor companies is crucial to any fintech organization for better decision-making and safeguarding themselves against corporate hazards.
While a few fintech solution providers help adopt the Digital Revolution through automated sales and underwriting for loan originations, others provide services like disrupting the asset management sector through algorithm-based asset recommendations and portfolio management with increased efficiency and lowered costs.
Automated workflows and paperless onboarding allow banks to launch digital-only banking, especially with Innovative features like allowing card-less ATM withdrawals, and certified, secure, and legitimate banking. Many fintech platforms also facilitate financial institutions to avail financial services on a hosted model. It also adds value in the entire financial ecosystem with open API Banking, which, in turn, allows banks to collaborate with the fintech players, and thus cultivating an interoperable ecosystem of innovation around customer data. To facilitate the shift towards fintech, we have assessed scores of fintech solution companies and picked out a list of premium choices. We present to you, CFO Tech Outlook's 'Top 10 Fintech Solution Providers—2020.'
