FinTech (short for financial technology) is a new financial industry that uses technology to improve financial activities. These distinguish themselves in five areas of application. With banks and the insurance industry, the first affects the various sectors of the financial industry. The second affects the professional area of application, whereby most FinTech start-up companies concentrate on figures, safeguards, investment, financial security, financing or advising. The third area affects the customer segment addressed. The fourth distinction applies to the interaction form, with which, for example, applies to community banking approaches for the C2C sector or online portfolio management systems in B2C sector. Fifth, the approaches differ with respect to their positioning when it comes to financial service providers. As a modern IT service provider to the financial industry, valantic also offers solutions for FinTechs.
For investigations and exceptions with valantic’s FinCase, banks have the choice: The software cannot only be operated on premise or in the cloud but can also be outsourced as Business Process as a Service (BPaaS).
In early November, valantic Financial Services Automation organised a community event in Germany’s financial centre. More than 50 representatives of different banks accepted the invitation and set the stage for an interesting evening.