Moving from concept to production: FinTech comes of age
This feature is upgradeable
For End Users
You can activate this feature and other links for ALL VENDORS with a VendorMatch Premium subscription. Additionally you can gain access to an increased depth of data, summary reports, RFX reports (detailed completed RFIs - available to financial institutions only) and comparison grids. Please click here for more information on Premium features.
For Vendors
Vendors can activate their links and gain access to analytics by upgrading to VendorMatch PRO. Please click here for more information
Ask an Analyst
Ask an analyst is the ability to communicate with one of our analysts about this vendor, system or genre of solution.
Survey Summary
The Survey Summary provides a download of the vendor profile, solution profile and the VendorMatch Discovery survey vendor responses used to power the directory. All responses are provided by the vendor online.
Note that this report is a high level summary of the vendor's credentials and a solution's capabilities designed to assist with solution short-listing. The RFX report is the more comprehensive Request For Information report designed to support evaluation and selection, this will only show where the vendor has completed the "RFX" RFI.
HOW TO SUBSCRIBE
To protect vendor data only financial institutions and recognized advisors can subscribe to VendorMatch Premium. Please click here for more information on Premium features or contact us to discuss a subscription.
RFX Report
The RFX report is an XLS download of the Vendors response to the “RFX” Request for Information for this solution.
The RFX is a centralized golden copy of a RFI authored by our analysts based on their expertise in running real-life system evaluation and selection projects and completed by the vendor online.
Note to protect vendor that only Financial Institutions and recognized Advisor can subscribe to this feature.
In each instance the first time the link is used the user requests permission to access the RFX report and it is the vendor who is required to authorizes access. You will be alerted when the vendor has reviewed your request and granted permission.
HOW TO SUBSCRIBE
You can activate this feature with a VendorMatch Premium subscription. Please click here for more information on Premium features or contact us to discuss a subscription.
To learn more about subscribing to our service options, please contact us here
CLS’s Alan Marquard explores the potential for new technologies to transform financial services as we know them.
Innovation has always changed how financial services are structured, provisioned and consumed, but the pace and extent of innovation today is enabled by technology that has the ability to dramatically transform financial services as we know them. Regulators, policymakers and financial market participants are seeking to answer the many questions presented by FinTech: what is it, who is it, how should it be incentivized, developed and used and how should it be regulated?
The pace and extent of innovation today is enabled by technology that has the ability to dramatically transform financial services
Although there is much talk of FinTechs versus incumbent organizations and who will succeed first in delivering major technological change to the market, FinTech is not an organization type. In reality, new, disruptive ideas in financial services are being incubated by large technology companies and the well-funded innovation centers and labs of banks and their consortiums - organizations that do not fit the stereotypical image of the garagiste FinTech start-up. The primary question is not where the technology comes from, nor even always what the technology is, but rather how disruptively you can apply it to businesses.
The rise of FinTech has been accelerated by business model and value chain challenges and inefficiencies – many existing ways of doing business are simply not working. However, new technologies are unlikely to transform the market until they are translated into solutions to business process problems. That translation involves a deep knowledge of the business processes, the ability to integrate with existing processes and platforms, and for really important activities such as those currently undertaken by FMIs, oversight, governance, credibility and trust. The full potential of FinTech in critical applications will only be realized when those firms developing new and innovative technologies join with organizations that have experience of running and maintaining resilient technology and operations at scale. For that reason, numerous organizations and consortiums that had approached financial innovation from a technology-first perspective have reached out to experienced market players like CLS to collaborate. As more small firms are moving out of the sandbox into the bigger playground, we expect to see more partnerships across technology firms and traditional financial services providers that can make a proof of concept a reality. Regulators and policymakers should consider taking steps to encourage and facilitate this type of collaboration in the marketplace.