Over the last decade, Fintech has been rapidly evolving. Alternatives to traditional banking are making the industry more savvy and innovative, calling themselves "challenger banks" and "neobanks". Incumbent banks need to transform their legacy infrastructures to compete with the nimble startups and big tech companies like Facebook, Apple, and Google.
Rumble Fish can help firms in the financial services sector to digitally transform and remain competitive. To digitally transform, firms need to look at how new technology can integrate into every area of the organization. They can modify processes, launch new products, provide better customer experiences, or revamp the organizational culture. Developing new software can reconfigure enterprises to meet the digital age requirements and seize new opportunities in the market.
75% of respondents in a PwC survey fear that some part of their business is at risk from FinTech. Customers are expecting the offerings and relationships with banks to be seamless through innovative technology. While startups are flexible to cater to this need, legacy incumbents are lagging, finding it hard to adapt their infrastructure to compete with FinTech firms.
There is also a desire for customer autonomy. Internet banking and mobile application show that people are looking towards digital channels to manage their finances. However, some financial firms cannot deploy technology fast enough to offer omnichannel experiences as FinTechs do. Moreover, they have not invested in data solutions to personalize experiences with AI and machine learning algorithms.
Fintechs can even do directly to the end-user and bypass banks. Peer-to-peer networks offer decentralized environments that are faster and more accessible than traditional banking.
Financial firms must comply with tight regulations and laws, meaning they cannot typically innovate at the same speed as a startup. By introducing digital technology, organizations can build new models that help enforce customer relationships through efficient and seamless processes. Outsourcing development to third-parties like Rumble Fish ensures you can develop the tools needed to compete in digital markets without disrupting business as usual processes. Our knowledge of the industry and emerging markets like DeFi and several technology stacks means we know the best way to help with digital transformation projects.
Rumble Fish has a vast knowledge of DeFi solutions and how using blockchain technology can help your business grow. Some of the core benefits for financial firms are:
Better security through a consensus-based architecture and the removal of data intermediaries like transfer agents. The Ethereum blockchain is tamper-proof against fraud and malicious third-party attacks.
Shared processes, standards, and protocols mean all participants of a network see a single source of truth for greater transparency.
The immutable ledger improves trust between members of the network, meaning they reach agreements faster and foster better collaboration.
Supporting the creation of smart contracts to automate business logic.
Vast scalability with interoperable private and public chains.
Enhanced performance with the ability to process hundreds of transactions every second.
We can help financial institutions get started with blockchain to improve their operations. Rumble Fish has worked on innovative solutions for online trading, cryptocurrency exchange, digital wallets, and marketplaces, giving us a strong working knowledge of the industry. You can read about how we have helped several companies in our case studies. For example, we helped Zbay create an online platform for discussion and commerce based on free software without the dependence on a centralized infrastructure.
Using an agile project methodology, our team will work to automate and integrate processes, build custom software solutions, and improve your workflows. Working on an agile basis means we maintain constant communication with our clients, keeping them up to date with progress and next steps. You have full control of the project, but we are happy to take everything and co-ordinate the business integration, leaving you to focus on your core objectives.
Our team of specialists are experts in several technology stacks and coding languages, as well as data science and machine learning. Putting all of this together means we can run your project from start to finish, including backend, frontend, and mobile solutions. Everything we create is 100% secure to handle the sensitive nature of the industry. We work with clients through Discovery Workshops that enable a deep understanding of your objectives and integration with the existing architecture.
No matter which industry you belong to, every business must become digital. We are sure that we produce customized and verified solutions for our Clients for a long term successful cooperation.
Quality has to translate into secure products. We believe in the value of this symbiotic relationship to every organization, ensuring software can fulfill its ultimate business function of satisfying and protecting the client in equal measure.
Our development teams use the Serverless framework extensively, combining it with automation solutions such as Gitlab CI, AWS Code Build, and Docker. We follow the Infrastructure as Code (IaC) principle that ensures high maintainability of our solutions.
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