Fintech technology
Finance moves at lightning speed. Across industries and sectors, companies need to stay ahead of the curve by building sophisticated, scalable software solutions that drive efficiency and profitability — in a wired world, it’s the only way to keep up.
Vention’s fintech advisors and engineers bring a deep understanding of an array of technologies to every client engagement and every software development project.
From innovative, secure cloud solutions to DevOps to automation to payment systems, we stay up to date on what’s possible to fuel financial services in a variety of sectors, including lending, banking, real estate, and insurance.
Blockchain
While blockchain is typically associated with crypto, the truth is many of its most powerful and innovative applications lie in other types of financial technologies. Blockchain’s draw is rooted in its inherent security, and across financial services, companies look to implement blockchain solutions to disrupt traditional banking and financial processes.
As industry leaders have already shown, private blockchain can compress processing and settlement timelines; those pioneering even newer applications are exploring using public blockchain’s immutable ledgers to deliver greater transparency.
But in addition to reducing transaction processing time and increasing transparency, blockchain can deliver lower cost solutions to the end consumer because when it’s paired with decentralized finance solutions, it can remove intermediaries: buyers and sellers can make and accept payments with minimal outside influence.
Vention’s fintech team includes strategists and senior developers who are fluent in technologies including Ethereum, Solidity, and web3.js.
Other tools we use in blockchain and Web 3.0 solutions include:
Alchemy.com
Hardhat.org
Etherscan.io
Remix.ethereum.org
Artificial intelligence, machine learning, and data science
Both AI and ML are fundamental to automating and streamlining manual legacy processes including loan and mortgage application processing, credit scoring, fraud detection, regulatory compliance, and wealth management.
AI-powered machine learning is also core to many solutions that protect users, like biometric data, fraud detection through pattern analysis, and customer service (advanced chatbots are powered by AI).
Banking apps are increasingly relying on AI and ML to engage customers with personalized expense planning and financial advice. Meanwhile, lenders are implementing machine learning to predict the probability of defaults on loans.
Coupled with data science, AI and ML have next-generation power to support entire financial and economic systems, making the interactions and transactions among regulators, consumers, and businesses secure and efficient — and to ensure that fintech is a trailblazer in Web 3.0.
Big data and analytics
Leveraged correctly, massive datasets are often the key to competitive advantage.
We work with you to build solutions that generate statistical models and probabilistic outcomes that can make business-critical decisions easier: Blend data from financial markets and consumer trends with that from investment data, for example, and you have what you need to be strategic in planning your trajectory.
We’re also seasoned when it comes to integrating big data solutions into existing information architecture.
Security
Any fintech product is only as good as its security, whether that means the safety of customer data, proprietary analytics, payment processes, or website hosting.
Armed with a deep understanding of fintech and the myriad ways in which oversights and bad actors can compromise data, our engineers build with fortress-level security in mind from the start; then we test aggressively to head off breaches.
Often the level of security implemented with a fintech solution affects its performance, so meeting the product’s requirements in terms of securing data (e.g., encrypting a massive database) and speed (think data distribution for tens of thousands of customers simultaneously) is part of the equation from the design phase onward.
The fintech toolbox
Vention’s engineers are fluent across components of your technology stack, using diverse tools when developing your project, including:
Hadoop
Tableau and Qlikview
Apache Kafka
Apache Spark
AWS services examples: Rekognition, Comprehend, Lex, A2I
Azure services examples: Bot Services, Cognitive Services, Applied AI Services
Training and partnerships
We all know that technology moves at lightning speed: software and tools go through regular updates and entirely new technologies emerge and evolve on a daily basis.
Vention has rigorous education and training programs in place that keep our teams on top of new developments in all technologies that we work with, including cloud and blockchain.
Also, we’re partners with titans in the industry, which means that our engineers are particularly well trained to leverage particular platforms when building your fintech software solution.
