How Partnerships Are Driving Innovation in FinTech

      Posted by Miriam Ballesteros on Feb 21, 2020 in Thought Leadership

      Innovation processes must be embedded into a company's DNA. 

      Strands Brieva Oracle OpenWorld London Panel

      To be truly competitive in a market as challenging as FinTech, every department in an organization must be aligned on goals and objectives, and allocate resources to those tasks that add actual value to the business. Companies need to become more efficient and find ways to avoid repetitive tasks and reduce human error, providing their teams with plenty of time to focus on what really matters and helps them stand out: innovation. 

      However, making innovation a core value throughout their organization is not a mission that companies should undertake alone. Strategic partnerships are one of the best ways to overcome the challenges of the current global economy and bring innovative solutions to the market. In fact, many tech firms around the world are joining forces and combining their expertise to develop truly disruptive products and services. 

      Here at Strands, we believe in the importance of finding the best partners to develop state-of-the-art technology that enables financial institutions to offer personalized digital banking experiences. From Mastercard to Tech Mahindra, we have partnered with global leaders and innovators to leverage our extensive expertise in big data and machine learning and make AI-based digital money-management software more accessible to people who wish to improve their financial health.

      Marc Navarro Strands Oracle Innovation Day

      The latest addition to our list of partners is American multinational computer technology corporation Oracle. Its commitment to providing the most innovative FinTech solutions to people across all regions fit perfectly with our desire to scale our technology and reach new markets, so this partnership was a logical, fruitful step for both parties. 

      Last week, Strands’ CEO Erik Brieva took part in Oracle OpenWorld Europe in London, where he was able to share our experience in taking Strands personal finance management software to Oracle’s Autonomous Database. “Oracle’s Cloud Infrastructure has allowed our teams to work in a more efficient, profitable manner, and to present our solutions to a much wider audience,” he said at the Real World Case Study Panel.  “Until now, only banks in tier-1 and tier-2 had the required resources and equipment to carry out a successful implementation. However, by cutting back on unnecessary expenses and increase savings, we are now able to offer our product suite to smaller banks and other types of institutions,” Strands’ CEO added.

      The same week, Strands’ Communications Manager Marc Navarro headed to Madrid to speak at Oracle’s Innovation Day, where he discussed the nitty-gritty of FinTech alliances and how partnerships are the key to fuel innovation with experts from a number of industries. “By teaming with us, Oracle's customer banks can speed up the time-to-market process for their applications,” he said, before pointing out that “while it would take years for a financial institution to develop an AI-driven financial management tool in-house, our experience with more than 700 banking implementations allows us to deploy the most powerful software in a matter of months.”

      Let’s build the future of banking together! Would you like to partner with us and help seize the opportunities that AI opens up for financial institutions?
      Please fill in the contact form and we will get in touch with you shortly.

      Miriam Ballesteros
      Miriam Ballesteros

      Named on the “Women in FinTech Powerlist”, Miriam Ballesteros is committed to raising awareness about financial technologies that make managing money a lot easier so people can get more out of life.

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