Financial software: what are the best tools for management, planning, accounting, analysis and reporting

OneConnect Financial Technology Co. Ltd. (“OneConnect”, NYSE: OCFT), a leading TaaS company for financial institutions in China, has been appointed by Abu Dhabi Global Market (“ADGM”), the award winning International Financial Centre in Abu Dhabi, to support the development of the ADGM Digital Lab.

The ADGM Digital Lab is a digital platform where financial institutions (“FIs”) and FinTech firms can collaborate, test and develop innovative solutions for the financial services sector, with direct participation from ADGM’s Financial Services Regulatory Authority (“FSRA”).In recent years, digital innovation has become a focal point in Abu Dhabi’s plans and initiatives in building a knowledge-based economy to support economic growth and diversification.

Since its establishment in October 2015, ADGM has led significant efforts in accelerating the digital transformation of the financial services sector in the Middle East.

The Digital Lab is one such initiative to address the key challenges FIs and FinTechs encounter in their ability to deploy and scale innovation.

In particular:– FIs lack access to platforms to test and experiment with prospective FinTech solutions prior to procurement approvals and commercial agreement;– FIs encounter major difficulties and costs to integrate their legacy banking systems with FinTech solutions; and– FinTechs are overburdened with procurement processes and costs incurred each time they interact with the banks.Leveraging the ADGM Digital Lab, FIs such as banks can enable rapid prototyping by:– Replicating their operating systems within the testing environment of the Lab;– Choosing from an ecosystem of FinTech solutions to test new product offerings or replace legacy infrastructure; and– Developing new business models and picking and choosing components from different FinTech providers.Through collaboration between industry and regulators, the Digital Lab aims to create a trusted marketplace for experimentation to build the enablers for the smart financial centre of the future.OneConnect’s collaboration with ADGM on the Digital Lab is its first landing project in the Middle East.

As early as July 22, 2019, OneConnect signed a memorandum of understanding (MoU) with ADGM to jointly promote and develop FinTech innovation, ecosystems and market opportunities that will support and connect the economies in both the Belt-and Road corridor and the Middle East and North Africa region.

‘Finance’ and ‘Technology these two keywords led to the rise of fintech software development.

Technology has transformed the way we do everything – from shopping to networking, and from hospitality to education.

Now it has taken charge of the financial services.

It is appealing to them since they grew up with mobile, and would love to handle their financial habits through the same device.

As per the IDC, a market research firm, the millennial considers the financial services as yet another consumer product.

But this is not the only alone reason, that is keeping the financial market look for a new future ahead. There is much more.

Fintech is a blend of financial services and inventive utilizations of new and existing innovation, conceived from an endeavor to give better and more productive other options to conventional keeping money and installment frameworks.

Essentially, fintech utilizes innovation to upgrade the way cash works.

Fintech’s chief advantage is decision.At its heart, fintech arrangements like those offered by Stripe are tied in with helping individuals deal with their accounts.

The normal individual handles his accounts with a level of vulnerability and dread.

Changing these issues likewise takes a proactive state of mind towards monetary administration.

A gigantic piece of the issue is the trouble of getting to administrations that assistance individuals settle on better monetary choices.Such arrangements are frequently select to the all the more monetarily educated.

Are you looking for Top fintech App Development Companies?

Your search ends here, as our expert team of researchers has listed the most trusted fintech app developers in the financial industry.

Right from P2P sharing apps to mobile banking apps to stock market trading apps, we are seeing an unprecedented upsurge in the number of fintech applications emerging in the market.

While wallet app developers can help you in building wallet apps like Paypal and GooglePay, the mobile banking app developers can help you in bringing the convenience of mobile banking to the phone screens of your customers.

The listed app developers have extensive expertise in developing end-to-end finance and payment software for finance companies.

Along with state of the art technology, the financial app development companies listed here are proficient in building fintech apps with foolproof security, as they know how important it is to gain the confidence of customers.

Make a change for the better in the way you manage your business expenses.Have you ever found yourself delaying reimbursements because an employee forgot to attach a receipt to their expense claim form?

Maybe your petty cash doesn’t add up again this month?

Or you have just received an expense claim form that is 2 months overdue?We understand your frustration and we wanted to create a solution that tackles what slows down your business.ViolaCorporate is your everyday tool for expense management.

It will save you time on administration and place you in full control of your business' spending.

With a real-time view of your employees' spending, you stay in control of your business expenses.The text above is a summary, you can read the full article which you can read here.

All thanks to technology…that every industry is adding more perks to their domain. Even the financial industry is no more an exception. Finance and IT, together are driving rapid growth with innovative services called Fintech application development.

This new technology is constantly trying to improve the banking solutions, launched cryptocurrencies, improving payment processes, securing transactions. And slowly turning into an indispensable factor in stock, trading, equity, insurance, and risk compliance.

The tech-oriented world is moving fast towards various technological innovations and advancements.

The fintech industry is not left untouched by tech glory.

Entrepreneurs are excited to jump into this segment by trying any of the fintech app ideas.

This blog covers the top 8 financial app ideas for you to initiate this year.