EY announces alliance with FintechOS to support innovation and digital transformation journeys for financial institutions

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Apr 24, 2023, 09:00 ET

Modernizing IT landscapes to deliver digital experiences and services for banks and insurers using a low-code, no-code technology-driven approach
Fosters innovation across organizations and enhances business operating models, while boosting customer and user experience for growth and optimization
Facilitates a faster time to market for new or adjusted financial products and creates new underlying processes that benefit clients, employees and the wider ecosystem

LONDON, April 24, 2023 /PRNewswire/ -- The EY organization today announces an alliance between FintechOS, a financial technology company, and Ernst & Young SRL (EY Romania) to simplify and support the launch and service of banking and insurance products and support detailed transformation journeys through innovation, business knowledge and the implementation of FintechOS' fintech enablement platform.

As businesses increasingly digitalize, customer and employee behaviors change, providing opportunities to build better customer experiences and more efficient business models. With digital transformation being a top priority in the industry, this Alliance will blend the EY Romania sector business and regulatory deep knowledge with innovation and implementation skills and offer competitive edge, scalability and security through the FintechOS innovative cloud-native platform.

Nigel Moden, EY EMEIA Banking & Capital Markets Leader, says:

"This collaboration has the potential to transform how banks operate, from data management processes to product development and customer service. Across Europe, banks have made steady progress to digitalize their systems and processes, but the pace must increase as competition from other industries grows. It is fundamental to invest in innovation and technology to support clients as they tackle numerous headwinds, while always maintaining focus on bringing new products to market and providing a service customers expect."

Andrei Ratiu, EY–FintechOS Alliance Leader, Ernst & Young SRL, says:

"To continue supporting the financial service industry digital transformation, EY Romania is thrilled to combine the business and technology capabilities with FintechOS. This Alliance reinforces one more time our strategy to collaborate with financial service institutions for long-term value generation initiatives and support in their strategy, business and technological endeavors to better address client and ecosystem necessities. Hence, banks and insurance companies will be able to be much faster and more efficient in the market with solid services for new or redesigned products and omnichannel optimized customers and internal journeys."

Teo Blidarus, CEO, FintechOS, says:

"Working alongside EY Romania, FintechOS is excited to offer businesses a technology-driven approach to modernizing IT landscapes, resulting in faster time-to-market for new financial products and improved experiences for customers. With this Alliance, businesses can streamline their operating models and speed up innovation with minimal disruption, while delivering seamless, personalized, efficient, and scalable digital experiences. Ultimately, the goal is to drive growth, improve value for clients, and boost customer satisfaction through digital transformation."

For more information, visit ey.com/alliances.

About EY

EY exists to build a better working world, helping to create long-term value for clients, people and society and build trust in the capital markets.

Enabled by data and technology, diverse EY teams in over 150 countries provide trust through assurance and help clients grow, transform and operate.

Working across assurance, consulting, law, strategy, tax and transactions, EY teams ask better questions to find new answers for the complex issues facing our world today.

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This news release has been issued by EYGM Limited, a member of the global EY organization that also does not provide any services to clients.

About FintechOS

FintechOS is the leader in fintech enablement, with a mission to make fintech innovation available to every company. The FintechOS platform simplifies and accelerates the launching, servicing, and expansion of financial products and services, helping businesses recognize value 5 to 10 times sooner than with other approaches: with FintechOS, companies can get up and running with new financial solutions in as little as 12 weeks. Unlike others, FintechOS breaks data free from the core, enabling the creation of personalized and differentiated products and customer journeys at scale. FintechOS connects with any ecosystem tech or service – financial and non-financial – and can plug anywhere in the tech stack, working with existing and legacy tech that companies want to keep.

A global employer co-headquartered in London and New York, FintechOS customers range from globally strategic companies like Groupe Société Générale, Admiral Group, and BPCE Oney, to game-changing players like Vibrant, eMag, and Howden. Its partners include both niche consulting agencies and global consulting firms and systems integrators.

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