The road ahead – Focal points
Spotlights provides an insight into initiatives and development projects that are important for Finnova and our Community. It presents things that will be affecting financial services providers, banks, bank clients and/or operators in the future, from a technical perspective, as well as how Finnova is contributing to further development with ‘Smarter Banking’.
Interested customers, partners and software developers are given an insight into topics relating to digitalisation, industrialisation and compliance. All of these will be affecting Finnova in the future – our Product Management and Development divisions are already occupied in these areas. Some of these are things that are already available and accepted. Some are ideas, concepts or specific development areas. Updates to Spotlights will be irregular.
The aim of Spotlights is to provide an insight into the future and to highlight the things that we are working on or focusing on.
Finnova named 'Best Financial Transaction Security Company' in 2022 FinTech Breakthrough Awards Program
FinTech Breakthrough, an independent market intelligence organization that recognizes the top companies, technologies and products in the global FinTech market, announced today that it has selected Finnova, a leading provider of banking software in the Swiss financial center, as winner of the 'Best Financial Transaction Security Company' award in the sixth annual FinTech Breakthrough Awards program.
The FinTech Breakthrough Awards is the premier awards program founded to recognize FinTech innovators, leaders and visionaries from around the world in a range of categories, including Digital Banking, Personal Finance, Lending, Payments, Investments, RegTech, InsurTech, and many more. The 2022 FinTech Breakthrough Award program attracted more than 3,950 nominations from across the globe.
Finnova, the winner of the 'Best Financial Transaction Security Company' award, provides banks and partners with an efficient, stable and flexible platform for modern end-to-end banking. With comprehensive front-to-back software and services, Finnova is empowering retail, universal and private banks to successfully position themselves in the new era of banking.
Finnova's recipe for success: its holistic 'Finnova Analytical Framework (FAF)'
One of Finnova's 'breakthrough' solutions is the Finnova Analytical Framework (FAF), a unified, fully consistent and organically grown analytical platform, which fulfils all the analytical needs of a modern financial institution. Built on new generation data analytics, FAF supports its customers in the accurate and timely identification of risks, threats and potentials. FAF simultaneously and consistently addresses a myriad of cross-domain topics ranging from Transaction Analysis, AML, Fraud Detection & Prevention, to cybersecurity and analytical CRM, by boosting and sharing the advantages from the consistently generated cross-domain insights.
Find more about in the Press Release "Best Financial Transaction Security Company"
Pushing limits and customer growth
Simon Kauth, Chief Product Officer of Finnova, said:
“In our times of substantially increased volume and speed of financial transactions through digital channels, Finnova is proud to provide adequate means to secure these transactions with an innovative product approach. We are not only seeing increases in volume and speed, but also in cybercrime and attacks. This fact requires the holistic view built into our framework, allowing for immediate operational ability to act upon potential threats, even if only indications are available.”
Already the third award for Finnova's solution
After the 'Banking IT-Innovation Award' from the Universities of St. Gallen and Leipzig in 2016 and the FinTech Breakthrough Award 2020 in the category 'Best Predictive Analytics Platform', this is the third award for FAF. This year's recognition in the category 'Best Financial Transaction Security Company' is mainly owed to the constant development of the Transaction Monitoring capabilities in FAF over the last few years, especially with functionalities such as 'Digital Fingerprint', 'Real-Time Risk-Based Profiling' and 'Processing of Instant Payments'.
The growth of analytics, AI & big data
Over the years, more and more Swiss fintech companies have focused on technological innovations such as analytics, artificial intelligence and big data. In contrast, the number of fintechs involved in other technologies decreased last year. The importance of analytics should continue to increase, in part because the potential for using data in the financial sector is increasingly being recognised but not yet fully utilised. This is demonstrated by the results of the 2022 fintech study by the Lucerne University of Applied Sciences and Arts. Finnova has supported this independent study since 2015. More information is available in:
Earlier studies available under Downloads. Studies are only available in the published language.