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How Fintech Became a Banking Necessity

Article by Sarah Cuison

Fintech or Financial Technology is a broad classification for any and all tools that aim to enhance the delivery of banking and financial services over traditional systems, but where did it start? Is it really essential to a financial company today? These questions can be answered by tracing the evolution of these essential tools in the financial industry, where TRIYO as an example fosters collaboration through efficient workflow management and insights.

Enabling Agile Principles Organization-Wide

By the beginning of the 21st century, banks’ internal processes and interactions have become fully digitized. Fintech is adapting to provide bankers with the ability to assign manual and tedious tasks in automated systems that allow for easier management of tasks, to enable agile work processes in a collaborative environment.

TRIYO takes this even further, it allows for flexible workflows where managers can create teams, assign roles and responsibilities at a click of a button. It can easily adapt to the working styles of different individuals and the existing productivity tool-kits of different departments; it strengthens the application of agile principles within functions and multi-function projects.

Rapid Digitalization of Financial Operations

Throughout the 2000s, financial organizations increased their implementation of Information Technologies (IT) to gradually replace paper-based mechanisms, to enable faster access to documents that may need to be referenced at any point in the future. Fintech is changing to accommodate immediate access to workflows that could be client-specific, project-specific or task-specific.

TRIYO is a step ahead, providing fully digitized task management systems combined with an intelligent repository that provides specific audit trails. This means that TRIYO’s users can access any project’s audit trail, with a contextual search that significantly reduces due-diligence research timeframes

Widespread Data Collection and Inference Systems

Since the 1980s, the financial industry became more dependent on the transmission and manipulation of digital information. Whether it relates to users and clientele, or internal employee management; data is valuable, and the degree to which a company fully utilizes it can make or break their advancement in the 21st century. Fintech has evolved to increase the amount of inferential data that a tool gathers to provide managers the ability to make meaningful insights.

TRIYO’s comprehensive analytics package gives your team the insights they need to make informed decisions, providing unparalleled operational visibility. With TRIYO’s machine learning and artificial intelligence integration, you can now make data driven operational predictions and adopt recommended courses of action in order to achieve desired future outcomes.

The Future of Fintech

Fintech rapidly grows in becoming intertwined within every function and process of financial organizations today; and TRIYO is the best example of such a seamless integration.

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Sarah Cuison

Marketing Intern- TRIYO

1 min read

26 May 2021

Updated on 26 May 2021

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