Are fintech companies enabling or disrupting banks?

By Madhvi Mavadiya | 11 February 2016

Could 2016 be the year of the fintech enablers? More and more banks are experimenting with and investing in new technology such as blockchain, big data and machine learning algorithms. However, we are yet to see the full effects of these partnerships but day 2 at Finovate showcased many products that could provide alternative financing.


Product: Meniga Personalisation Platform

Enabler or Disruptor: Enabler

Meniga are currently working with banks such as Santander and Commerzbank to improve communication between the consumer and the financial institution. Online user experience is becoming increasingly important to customers and with a system that personalises conversations through the provision of an activity feed, Meniga describe the product as the “Facebook for finance.”


Product: Xignite Cloud Alerts

Enabler or Disruptor: Both

It was difficult to place Xignite in either category, but as their aim is to help provide cloud based financial market data APIs to disruptive fintech firms, they fall more into the disruptor category themselves. Although real time notifications are something that could be used by larger financial institutions, Xignite target firms such as Betterment, FutureAdvisor and Wealthfront. Alongside this, Stephane Dubois, CEO and Founder of Xignite says that the company "enables banks to build innovative front-office and wealth management applications that let them quickly re-invent their competitive offering, delight customers, and lower their data management and infrastructure costs."


Product: ARIC engine

Enabler or Disruptor: Enabler

Machine learning is a form of technology that banks are increasingly investing in but something that is always a concern, is fraud. Featurespace’s ARIC engine spots fraud attacks as they happen and uses algorithms to build a statistical profile for each individual customers.

Scalable Capital

Product: Scalable Capital

Enabler or Disruptor: Disruptor

Scalable Capital is more than a digital investment manager as it uses recent market data to dynamically adjust its portfolios. Adam French, co-founder and managing director, believes that “just because risk in the market is constantly changing, it doesn’t mean risk in your portfolio should.”

Nostrum Group

Product: Digital Lending Platform

Enabler or Disruptor: Enabler

This company aims to provide cheaper, safer and faster lending for banks, finance companies and retail brands with their product based on the cloud. Nostrum Group believes that this is a good opportunity for banks to build trust and loyalty, as they spoke about in their demo.




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