FintechOS

UK-based FintechOS offers a low-code infrastructure platform for banks and insurance firms to develop personalized digital financial services. The platform offers over 50 open source apps, for businesses to develop a wide range of retail banking (onboarding, personal loans, savings, mortgage etc.), SME banking (unsecured loans, secured loans, risk analysis, etc.), payments (including buy-now-pay-later [BNPL]) and insurance (digital enrollment, claims, underwriting, etc.) solutions. 

The platform can be deployed on-premise or on the cloud, and comprises over 20 Fintech automation processors (including know-your-customer, Customer 360, and risk analytics) and more than 150 pre-integrated data sources. FintechOS also has over 50 global partners including Microsoft, EY, and Deloitte. As of April 2021, the company claimed that its platform was used to manage over USD 100 billion in assets. 

The company extended its platform to the US in September 2021, to complement its existing presence across Europe, Asia, and the Middle East, where FintechOS’s customers ranged from FinTech startups to 40 multinational banks and insurers. FintechOS plans to roll out support and consultancy to more than 15 new US bank and credit union partners by the end of 2022 with 100 new US hires (bringing its global headcount to over 400). 

In April 2021, FintechOS raised USD 60 million in a Series B funding round, led by Drape Esprit, to expand its business reach in Asia-Pacific, Middle East, Africa, and North America including new office openings. FintechOS also intends to increase headcount by 40% with 120 new staff members. The funds will also be used to broaden its core system capabilities in banking and insurance and improve personalization through AI and machine learning implementation.