Becoming a FinTech

Learn more about how we helped a business modernize its tech capabilities.
August 30, 2024
5 min read

Summary

  • Completed a tech due diligence for their investor.
  • Stayed on to develop a modernization strategy to digitize their mostly manual processes
  • Designed a software platform that would allow them to add new products rapidly and increase customer stickiness.
  • Built their next generation software platform that helped transformed them into a 'FinTech' company.
  • As a result,
  • They are now valued as a 'tech company' instead of a 'services company'
  • Reduced their customer onboarding time by 80% and scaled their account management team by 5x.
  • Offered APIs as a product that enabled them grow and increase customer retention
  • Expanded their account management team's span of control by 75%
  • Reduced compliance and security costs by 68%
  • Reduced fraud costs by 85%
  • They now operate as a tech-first company and continue to work on their next 5-year roadmap that includes machine learning solutions

Context

Having been in business for over 20 years they had been successful in what they do and their customers loved them. Their internal process and tools had a legacy of highly manual paper-based processes. They also had built several siloed systems for specific customer use cases that were very basic.

With the rapidly evolving market, competition from the next generation of FinTech players was becoming intense and they had to scale fast and change the way they work.

As a result, they engaged us to develop a modernization strategy and build their next-generation platform.

Process

We studied their business and reframed the problem statement based on years of studying the FinTech space. We developed their technology roadmap based on the reframed problem statement. The strategy was a combination of the build + buy approach.

  1. Capture their thought leadership and differentiation by building a platform which will become their system of record.
  2. Buy and integrate best of breed solutions using a software supply chain approach.
  3. Automate their account management functions.
  4. Seamlessly integrate their back office functions including sales, accounts receivable and finance functions.
  5. Implement an analytics solution to use the data from their systems of record to create near real time dashboards and reports.

Explore our Technology Strategy Services

Explore our Software Services

...thinkbridge helped us discover new tech-enabled opportunities that we never knew existed and along the way they also helped modernize our business...
Founder and President

Results

Their core platform that we built is now their operating system and the number of users has grown by 600% since launching supporting over 4500 customers and their users.

The platform is PCI Compliant and our client is able to launch innovative products into the prepaid card market quickly. They are also able to compete with much larger players and win deals due to the configurability of the platform.

Their next phase is expanding their platform and mobile apps into new markets with innovative solutions for the prepaid market.

Read more about how we work using our accelerators, context expertise, and global delivery.

MEET THE TEAM

Anand Krishnan

Managing Partner & CEO

Shamik Mitra

Managing Partner & Chief Delivery Officer

Andrew Zarkadas

Vice President - Growth Americas

Connecting through meaningful tech

Leveraging thinkPlanner for Streamlined User-Centric Solutions

AI usage is at the forefront of everyone's mind, but using it intelligently is what leads to differentiation. Learn how thinkPlanner, an AI-enabled tool, can be leveraged to create user personas, unique user journeys, and create a comprehensive roadmap for your organization's product idea.

Learn more

Utilizing Advanced LLMs For Streamlined Code Generation

Streamlining UI creation and code generation just got easier. With thinkURL, it's now easier than ever to take requirements and seamlessly create JSON representations. Organizations seeking top-tier efficiency could take their game to the next level with thinkURL.

Learn more

Dynabot's Seamless Integration and Agile Deployment

Not all chatbots are created equally. With seamless integration and heightened capabilities, Dynabot is easily added to existing systems while offering improved customer experience. Let's talk about the impact it can deliver.

Learn more

HR & Recruiting: Automating Boolean Search String Generation

Explore how the integration of OpenAI and LLM technologies revolutionized candidate sourcing by automating Boolean search string generation. Discover how recruiters experience increased efficiency, leading to faster candidate identification, while HR departments benefit from improved alignment between job requirements and candidate qualifications.

Learn more

Streamlining Candidate Evaluation With Automated Resume Summary Generation

Dive into how the integration of NLP techniques and OpenAI technologies revolutionized talent acquisition by automating resume summary generation. Discover how recruiters save time and reduce cognitive workload while candidates benefit from improved visibility of their qualifications and experiences.

Learn more

AI-Driven Candidate Matching Integration

Explore how the integration of AI-driven candidate matching technologies revolutionized talent acquisition, leading to higher-quality hires, reduced time-to-fill metrics, and enhanced recruitment outcomes for both recruiters and HR departments.

Learn more

Seamless Chatbot Integration For HR Operations

Explore how a strategic deployment of an advanced chatbot streamlined HR processes, reduced administrative burden, and empowered recruiters to focus on strategic recruitment initiatives. Learn more here.

Learn more

Utilizing AFR 2.0's Automated Executive Summaries

Delve into how AFR 2.0 revolutionized financial reporting with automated executive summaries, empowering CFOs, finance managers, analysts, and stakeholders alike.

Learn more

RPO and Technology: A Transformational Approach

A client was making data driven decisions, but their core was based on spreadsheets, which made scalability difficult along with the documents being error prone. To address these issues we built a web application rendering spreadsheets unnecessary.

Learn more

How Client-Centric Tech Impacts FaaS

An organization needed to build a tech solution for their clients that used a variety of applications. We were able to vet ideas for tech upgrades and develop a process for continual upgrades.

Learn more

How We Digitized An RPO Company

A recruitment process outsourcing provider needed to develop and implement a 5-year technology roadmap. The roadmap included building a custom platform, integrating with best of breed recruiting solutions, and implementing an analytics and reporting solution.

Learn more

Becoming a FinTech

Learn more about how we helped a business modernize its tech capabilities.

Learn more

AI Affecting Solar DERs

Utilities operators needed help optimizing the energy production of a vast number of distributed solar energy resources, while resolving issues promptly and cost-effectively. To address this, an operations and maintenance platform was built that utilized analytics and AI.

Learn more

AI-Enabled REPs

A retail electric providers (REP) in Texas had to estimate the amount of energy needed to provide their customers with competitive market prices. To address this issue, a more accurate load prediction model based on machine learning and historical energy load data was developed.

Learn more

Modernizing Prepaid Card Tech

A prepaid credit card and treasury management services company had to complete a technical due diligence assessment. We developed a strategy focused on modernizing their back-end applications and client-facing software platform.

Learn more

Modernizing A Major RPO Firm

A recruitment process outsourcing provider experienced operational inefficiencies due to rapid growth. We were brought in to assess their existing processes and decided that a fully integrated, scalable technology platform was needed.

Learn more

Developing A Cloud-Based POS System

A family-owned business that hosts children's consignment sales had their lone IT engineer quit. When this happened, the company's outdated systems began to fail. We stepped in to stabilize the system.

Learn more

Navigating VC Due Diligence

A client needed to complete a 30-page technology questionnaire as part of a VC due diligence process. Thanks to our experience in fulfilling complex VC due diligence requirements, we completed the questionnaire and compiled all required supporting documentation.

Learn more

Utilizing Serverless Architecture

A billing service provider company's applications were built using a serverless architecture

Learn more

Azure's Innovative Cloud Security and Governance

The company had its infrastructure on the cloud in order to improve scalability and flexibility. However, the company wanted their infrastructure, application and data to be secure in the cloud.

Learn more

Download Detailed Case Study

Thank you! for your submission we will email you the case study shortly.
Oops! Something went wrong while submitting the form.

Learn more about this case study

Download the full case study, to understand more about the process and the outcome