Spinr Cloud-Based Data and API Integration Platform Benefits FinTech SMEs
- Written by TechXO Team
- Category: Fintech
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Spinr, the Manchester-based digital company is offering a platform that brings together data from any number of source applications within a data viewer that can transform and prepare data for analytics and reporting. This data can easily be shared between different departments. Its simplified interface makes data accessible to everyone.
The cloud-based software has been in development for years, however, now that it is released, many organization are not able to use the software to sort out huge data and convert it into meaningful information that can help in the decision-making process that allows businesses to grow.
New FinTech SMEs would benefit from using this platform as it enhances a lot of the processes required for running a FinTech Firm.
Benefits of Using Spinr for FinTechs
- Real-Time Data Integration
Spinr offers real-time data integration from APIs and makes it easier for departments in an organization to access information. Having real-time data allows FinTechs to react to the current needs of the customers. This increases customer satisfaction and helps the company grow. While each FinTech firm might use the data differently for purposes that address their business needs, having that data ready will give the company a well-rounded view of their performance and improve on services where growth has lagged.
- Prevent Risks and Crisis
Regulatory compliance is one of the more important areas that financial institutions have been focusing on the past few years. With regulatory requirements being introduced or modified in each quarter of the year, many institutions struggle to manage compliance activities and this increases financial compliance risks. With Spinr and its advanced analytics feature, the collection and distribution of compliance data for reporting can be streamlined. This ultimately uncovers potential risks present in the process of risk monitoring practices between different parts of the organization.
- Streamline Operations and Reduce Cost
Spinr can automate processes that would otherwise take time if done manually. This lessens errors in data analytics. FinTech SMEs with big data would be able to maximize their resources by automatically tracking trends within the data. Cloud-based systems also reduce costs as they are scalable and flexible to changing resource needs. Through automating basic processes, employees’ skills can be used for tasks that require manual work or maintenance of the existing systems.
- Better Data for Better Decision Making
Being able to understand data is important when it comes to making the best decisions for the growth of the company. As a platform, Spinr takes this up a notch by offering a data viewer that integrates all data from all sources. Users can customize the data viewer based on what needs to be reported. Spinr also offers data analytics that could give FinTech companies in seeing where improvements are needed, where trends in sales have increased or decreased, and where there are potential gaps in the market.
- Improve Customer Experience
Spinr can analyze big data and give FinTech companies ideas about the needs of their customers. An understanding of what the customers are looking for is needed to ensure that they remain satisfied with the services being offered by the firm. Spinr can be used to extract the current level of customer satisfaction, metrics that have a major impact on customer loyalty, factors affecting negative feedback by customers, and services enjoyed the most by clients. Focusing on a client-centric strategy to ensure growth is made easier if customers are provided with a personalized experience that solves their challenges.
- Growth Revenue
Using Spinr’s platform has multiple benefits that all improve revenue for the FinTech SMEs. By reducing cost through automation to improving customer experiences to ensure they remain loyal and happy with the services provided, all these either allow the company to increase and use available resources effectively and efficiently.