How a new way of thinking about Fintech Technology can remove entry barriers for Fintech Start-ups.
An interesting post on?5 barriers holding back fintech entrepreneurs, highlighted the following barriers to market entry for start-ups in the marketplace.
1.?????The regulatory environment
2.?????Funding
3.?????Technology
4.?????The human element
5.?????Building trust
BUT there is an emergence in the current zeitgeist that is primed to smooth these potential road bumps making starting or developing a fintech offering easier, less risky, and ultimately more attractive to investors. It will do so by?pre-solving?many start up problems and offering no-code technical solutions that are pre-compliant to industry standards, doing the heavy lifting when it comes to technology or software development and putting it together into an easy-to-use development environment. Seed and early investment money can be saved because a team of inhouse developers and architects are no longer needed. Those with the vision and niche market knowledge of the start-up can concentrate on building an MVP in a safe, non-live sandbox environment ready to share with investors and set live on live banking rails offered by a number of regulated banks.
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You don’t need to worry about technical problems such as if the “back-end application is compliant with the PSD2 European regulations” or “the database holding your customer data is GDPR compliant”. Imagine how much more streamlined your development team could be with this sort of thing taken care of?
In the shadow of several major and multi-billion-dollar investment fraud cases in recent years, investor due-diligence is becoming much more stringent and great ideas that exist in PowerPoint form are far harder to pick up even the initial Angels and Seeders they used to. With access to a Fintech Sandbox environment, entire fintech applications can be mocked up and tested against real life web applications making that initial grab for funding far easier.
The initial core of start-up founders are often the ones with the grand ideas and visions for what “could be” that then gets watered down by the realities of finding and paying for a team of technical people that can turn the vision into reality. How powerful could your core team of visionaries be if they could work directly on the development of your exciting new application?
FinXone Ltd is positioning itself to level the playing field when it comes to the barriers of entry to developing a Fintech.
No Code//Full Stack//Embedded Finance - For everyone
FinXone allows your idea to turn into a licensed regulated fintech solution. Faster than you can put your pitch deck together, or get a PO approved. Using a revolutionary drag and drop interface with application templates for browser and mobile apps, and a partner ecosystem of regulated and licensed providers the FinxOne ecosystem will allow anyone, from any walk of life to be a tech entrepreneur and will transform access to the technology creation ecosystem.