FintechOS has announced 40% year-over-year revenue growth in 2023. Moreover, the company now expects to achieve profitability in the first half of 2024. Growth has been driven by winning new customers in strategic markets. These include the US, UK, Continental Europe, and most recently Asia-Pacific.
In a challenging year for the sector, FintechOS was able to both enter new markets and unlock new vertical segments. It is enabling banks, credit unions, and insurers to modernise and innovate in multiple business/product lines. In the banking sector, the FintechOS platform enabled solutions, such as embedded finance, point-of-sale lending, digital account opening, and mortgage automation. In insurance, the FintechOS platform was used to transform P&C, health, and life insurance solutions.
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Notable projects in 2023
A Tier 1 US-based bank selected the FintechOS platform to aggregate and better secure disparate data and automate back-end processes related to customer onboarding.
In UK/Ireland, two top financial institutions selected the FintechOS platform to deploy their digital mortgages solutions.
Again in the UK, Admiral, a top-20 insurance provider, successfully launched its digital pet insurance product built in-house with FintechOS.
Other notable deals include
- Using FintechOS, Benenden Health transformed its health policy platform to create a more cohesive experience for customers and employees;
- FirstBank developed an end-to-end digital mortgage journey with FintechOS that has boosted the bank’s mortgage conversion rate to 25%.
- Advancing its mission to make solar power accessible to all UK households, Sunsave is using the FintechOS platform to offer FCA-authorised finance plans.
- Using the FintechOS platform, Vibrant Credit Union launched a point-of-sale lending solution that achieved $40m in new loans in its first year.
- Tower Community Banked leveraged FintechOS to enable a point-of-sale lending platform. This empowers local businesses to provide bespoke financing options directly to their customers
FintechOS unveils FintechOS24
FintechOS24 was unveiled in December 2023. This is the fifth major release of its fintech enablement platform.
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By GlobalData“We are pleased to report 40% YoY revenue growth in 2023. This reflects FintechOS’s commitment to innovation and strategic market expansion,” said Teo Blidarus, CEO and co-founder, FintechOS.
“As we achieve profitability in 2024, we become one of the fortunate few fintech scale ups in today’s market who can claim both business growth and self-sustainability. Our success is driven by our continuous efforts to provide cutting-edge technology and solutions, expand into key markets, and forge valuable partnerships. The achievements of the past year reaffirm FintechOS’s position as a leading player in the financial technology sector. We remain dedicated to enabling best-in-class solutions with our platform. And empowering our clients to navigate the evolving landscape with agility and efficiency.
