FinTech Awards 2023 Wealth & Finance 19. Jun23552 Best Loan Management & Deposit Account Software Company 2023 - Australasia As a leading provider of fintech software solutions, such as finPOWER Connect, mbsl has sustained its standing in the fintech market space for over 30 years. Their ability to strategically plan, develop and customise systems to individualise their client’s loan management and deposit software requirements has meant long term business relationships have endured to the benefit of both mbsl and their clients alike. Close attention to detail, ensures solutions are functional and user-friendly and meet the unique requirements of each client. Offering a high degree of customisation and flexibility ensures clients can effectively manage their software processes in a way that aligns with their specific business needs and workflows. Thoughtful user experience design and regular usability testing ensure that their software is accessible to both tech-savvy individuals and those who may have limited technical expertise. A considered systematic approach to the quality of work provided, presentation, knowledge of the fintech industry including legislation, and consistency in proactive account management of their clients is the catalyst in forming a foundation of trust and collaboration, which in turn has led to an effective growth strategy for the business. Taking a cautious approach finPOWER Connect’s Strategic Plan distributed in 2022 outlines where it is believed technology is headed and the development intentions for the next two major versions of their software, culminating in version 5.0, currently on target to be ready for release in 2024. To accommodate changes prior to implementation of releases, mbsl consistently works with clients to determine business processes and documentation that may need to be revisited by clients and their independent professional sources, such as Lawyers, Accountants and Government agencies. finPOWER Connect employs API technology to enable integration with external systems and facilitate data exchange and automation. With the need to meet the New Zealand government APIs for compliance of regulations and standards, interoperability with government systems and improved data exchange and integration of their services mbsl actively engage with their clients to embrace API technology and comply with standards. Utilising APIs for integrations with ThirdParty systems, Custom Application development, data import and export, Web Portal integration, Automation and Workflow orchestration and Reporting and Analytics, finPOWER Connect offers the flexibility to extend and customise clients specific needs, integrate external systems and automate processes. mbsl’s focus and logical approach to customising APIs to ultimately enhance their clients operational efficiency and improve the overall user experience espouses their commitment to their clients successes. The world’s fast paced trajectory of connectivity and new technologies means that Commerce no longer needs to wait for a traditional business day to complete transactions and/or deals. Along with access to online Credit Bureau checks, Security enquiries, Security Registers and Electronic Signatures the introduction of 7-day banking in New Zealand in May 2023 has further afforded the finance sector the opportunity to update their business model by aligning their internal processes to the new payment regime. The ability to process payments in finPOWER Connect on weekends and/or Public Holidays e.g., paying Disbursements every day of the year is perceived to be advantageous for clients and their customers alike. mbsl believes that utilising 7-day banking will be of benefit both to the sector and their clients and critical for Loan and Deposit retailers to remain competitive. mbsl are well versed in their clients obligations in maintaining security processes and controls to meet AML/CFT legislative requirements. Third-party facial biometrical verification applications integrated with finPOWER Connect are perceived as essential tools that support clients to adhere to their legal requirements as reporting entities and assist with the prevention of fraud, ultimately allowing the opportunity to make safe business decisions when onboarding customers digitally. The software is designed to meet industry compliance standards and data security requirements, providing features like audit trails, user access controls, and data encryption. Taking a methodical, logical approach when providing ongoing maintenance and support for their software applications including upgrades, enhancements, and bug fixes, allows the opportunity to monitor the performance of the software in different environments and address any issues or user queries that may arise without undue delay. mbsl’s position in the fintech software market is a result of their strategic planning, customization capabilities, and commitment to client success. Staying abreast of industry trends and legislative changes, ensures that their solutions facilitate the capability to adjust and thrive in the dynamically changing financial software environment. Dedication to proactive account management and continuous collaboration with clients fosters trust, while their commitment to security measures supports compliance and risk mitigation. With a strong focus on the future, mbsl’s ongoing development and customisation efforts for finPOWER Connect further solidifies their position as a trusted provider of fintech software solutions. Contact: Sandra McCorkindale Company: McCorkindale Business Solutions Limited (mbsl) Web Address: mbsl.co.nz
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