THE ALL-IN-OnE Operations AUtomation Platform

All your Fintech operations in one place.

Fintech Operations
Fintech operators are pushing the boundaries of what is possible in operations management:

1. On the one hand, they need to scale fast in a highly competitive, fast evolving environment that requires continous adaptation of workflows.
2. On the other hand, they have to produce reliable, well documented, error free results to stay regulatory compliant at all times.

Apart from the in-house developed product (The "Tech" in Fintech), Operations teams have to achieve these conflicting goals manually with spreadsheets, email and chat. The only way to scale is expensive: Hiring and training more and more operations personnel.

Operations workflows are usually documented well on paper with standard operating procedure documents (SOPs) or confluence pages. Next Matter allows Fintech operators to automate these workflows reliably: Freed up of manual grunt, coordination and documentation work, the operations teams can spend their resources on important growth projects instead.
Banking Operations
The focus of the company differs based on type:

Archetype 1: B2B for banks or large business provides banking-as-a-service or solutions for large business and focuses development resources on developing the product APIs and technology packages.
Archetype 2: B2C for consumers and small business focus their IT resources on the customer facing essentials of their offering and leverage a license holding banking platform to reduce time to market and complexity.

In-house development and engineering talent remain the scarcest resource in the company, which even with rigorous prioritization barely has capacity to create the modern and shiny frontends that customers admire.
Backoffice operations and execution has to rely on manual labor or service providers for workflows like
- Identity Verification
- KYC and AML checks
- Risk assessment
- Card issuance
- Dunning
- Transactions and transaction receipt creation
- Account reconciliation
- Balance reporting
- Offboarding
- ...
Early automation of these workflows is a huge cost advantage and powered out of the box by Next Matter.
Compliance operations
Compliance and legal operations are mission critical for Fintechs to maintain licensure and reputation. Surprisingly execution relies on spreadsheet trackers, email, IT issue trackers like Jira and of course people that manage these tools.
- Requests for Information (RFI, such as ad-hoc AML or anti-terrorism financing requests)
- Subpoena Management
- Seizure Handling
- Fraud investigations (internal and external)
- Regular client checks, depending on risk category
- Data Deletion Requests
- GDPR compliance
- Data processing compliance, incl. third party vendor approval
- Ongoing random AML sampling
- Tax and bank statement generation
- Deposit insurance
- Exemption orders for capital gains
- Employee onboarding background checks and training
- Sanctioned groups or individuals checks and blocks
- ...
The list goes on and contributes to the high baseload of operations activities, that Next Matter can automate flexibly from day 1 with the reliability of custom made in-house solutions. As a bonus, executives don't have to lose sleep anymore over "that one error", which would lead to severe reputational damage and legal consequences.
Customer Service Operations
Customer Service is usually done by internal service agents that use a ticketing system (e.g. Zendesk, Freshdesk, Jira Service Management) to manage requests. Especially for B2C, this is sizable baseload contributor and while some requests are truly unique, the vast majority of it is uniform and benefits from automation, which Next Matter can deliver end-to-end. Sample cases include:
- Master data change requests
- Complaints / Damages handling
- Card replacements
- Password / TAN / PUK resets
- Mass communication for market events
- Decease and Inheritance Management
- Bankruptcy management
- Fund transfers (for account closing or others)
Other Operations
ERP and HR systems are usually the backbone for finance related operations (accounting, bookeeping). Highly custom activities require tailor-made workflows, which can be built fast with Next Matter without any tech team involvement, while fully integrating with all other incumbent systems, e.g.
- Specialized employee onboarding (Non-EU / EWR)
- Payroll
- Employee Offboarding
- Vacation Requests
- Expense Management
- Workplace Security Checks
Impact
A leading and fast- growing scale-up company with over 350 employees implemented >50 complex operations processes across 100 people on Next Matter (15 complex operations processes automated within the first 6 weeks, the remainder within 5 months).
"I should have started with Next Matter 2 years ago. Massive increase in reliability and team productivity for operations processes"

FOUNDER AND COO OF CUSTOMER
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Operational Excellence Best Practices
Successful Fintech operators typically follow these practices to stay ahead
Keep a repository with all your operations processes
Vigorous prioritization and make or buy decisions
Build structures that work when you are not around
Document everything to maintain an audit trail
Automate as early as possible to build for scale
Develop metrics and dashboards
Make operations frictionless for all stakeholders (Customers, Regulators, Service Providers, Partners etc.)
Improve continuously (Iterative and Agile)