Amsterdam FinTech Week
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In short
After living in the CRM world since 1987, we have become a FinTech player. The reason: CRM had become a “Red Ocean” for us. It was time for a fresh start and we had time and sufficient financial resources. Two good reasons to start in FinTech. After all, we were already SCOPE “marketing” technology with many clients in financial services.
Our FinTech journey started with developing a cloud-based KYC application that is compliant with MiFID II regulations. This on the advice of a CRM client. We started from scratch by creating a development environment; everything in the Cloud and very secure. The User Interface had to be gamified; it had to be infotainment. There was insufficient expertise about the regulations and about the wishes of the market, so an expert panel was set up. After two years it was ready. There were some unexpected extensions like a Monte Carlo simulation and psychological risk appetite assessment.
In the meantime, we have also started to convert our CRM product to the FinTech side, so that we have also been able to realize a modern and innovative application here. More and more customers in the financial world are using SCOPE CRM as a FinTech CRM solution to optimize time-consuming business processes, leaving more time for customers and the business.
Speech confusion in an international demonstration was the reason to start developing a CDD application. The then prospect, now client, was looking for background checks on companies and individuals. All new words: PEP, sanction lists and adverse media.
We still had time and financial resources and so we started developing this product both as a webshop and in API form. This, of course, together with a data supplier. The great thing about Anti-Money Laundering (AML) is that it is much broader and touches more industries.
Commercially this is a very successful product, the webshop is running well. More and more vertical software vendors are building us in as a solution for AML. We are also actively involved in partner management and looking for large accounts. There are some new products in development that we hope to inform you about soon.
After five years we have become an international player in the FinTech world. A nice step that we are happy with. We will probably be there next year in Amsterdam.