About SIGTB FinTech
SIGTB FinTech is a “state of the art” Cloud-based system especially conceived within the Financial industry supporting the constantly changes its operating standards, whether it is due to the increase in competition, customer demands and regulations
Change is the only constant when it comes to the quest for survival in today’s competitive FinTech world. New technologies are introduced in the market often which leads to change in the industry landscape at a faster pace than we could imagine.
Financial industry goes through frequent changes in regulations, tax structures, license policies and capital requirements.
FinTech industry adopted technology in early stages and therefore, has the most outdated systems. These systems are inflexible and prevent changes in the architecture.
Investors and stakeholders apply pressure on FinTech Companies for a quick ‘go-to market’ strategy. This leads to unstable foundation.
Open banking initiatives bring technology at the forefront of finance by encouraging secure underlying account data sharing by banks.
The main purpose is to enable third parties to utilize the open access to banking data, in order to provide value-add service applications that enable consumers to easier transact, save, borrow, lend, and invest their money.
In the past years, FinTech was mainly focused in the payments, remittance, peer-to-peer lending and equity crowdfunding sectors. Today FinTech is emerging to reshape capital markets: solutions to complex front-, middle- and backoffice problems.
The Financial System business model needs to evolve and to do so quickly. Historic evidence indicates that the industry has been only partially effective in delivering change and managing its cost base, creating the need to evolve in a different way. As a result, innovation is no longer optional. Yet, for most firms in the industry, organic evolution toward a new model would be very difficult to achieve.
A new FinTech ecosystem is starting to form that can address many of the challenges confronting today’s investment banks.
The three trends that are reshaping the Financial Sector are Artificial Intelligence; RegTech in all its forms given our current complex regulatory landscape -AMLD, ePrivacy, MIFID, GDPR, ...-; and of course Real-Time Payments which benefit consumers and businesses alike.
Also, Blockchain & based smart contracts enable an automated escrow that has numerous implications for the financial industry
SIGTB FinTech is an award winning Cloud & DLT, distributed, flexible, modular independent and secure architecture that can adapt seamlessly aligning strategy, technology and business model.