2020The Year Of Tough Circumstances, Innovation And Digitalization

I want to take this opportunity to wish all here a happy, healthy, and prosperous 2021 and express my gratitude for staying with us through the highs and lows of 2020. There have been good days and bad days in the last 12 months. I cannot help but ask myself: How does one comprehend the events of 2020? What will we look back and remember? What did we learn? At first thought, I want to be positive and focus on the joyous moments, but it would be naive to ignore the events that might not be as easy to think about.

2020 was a tumultuous year for all of us. COVID-19 changed the way we all work and live. Although we pivoted quickly and started working remotely to continue the business, we faced several challenges throughout the journey like everyone else. We had to manage a new way of working and tackle various emotions such as fear, loneliness, grief, and anxiety.

Speaking personally, this year has been a roller coaster ride balancing business and personal life. On the plus side, I have had much more quality time with my newborn and family. We had great conversations and made new memories over family dinners during the quarantine. We spent time in the beautiful outdoors and reconnected in very special ways.

Despite many overwhelming moments, FYNXT continued to work and innovate. My team demonstrated a high level of commitment and helped our customers traverse these tough times efficiently. In 2020, we achieved some key milestones. We focused on building a digital-first product, acquired new customers, and forged new partnerships. Let me share some highlights.

2020– The Year Of Innovation And Digitalization

• Digital - First Product Offering.

  The one thing that came out clearly during the pandemic was that financial service companies could no longer operate solely as brick-and-mortar entities. Companies had to quickly adapt to using digital tools to acquire and engage with customers and for their daily operational tasks. As a company that develops enterprise-level SaaS products for the financial industry, we have always believed that technology should not be limited to being just an enabler. It should be the primary driver of the business. This revelation led us to roll out our latest product – the Digital Front Office (DFO). DFO transforms the way financial services companies such as forex trading houses, remittance providers, wealth managers, and banks identify, acquire, engage, and retain clients. We built in plug and play modules, CRM integrations, and many other advanced features that can help companies maximize their revenue, profitability, and gain more customers.

• New Partnership

  Last year, we partnered with Jetstream Partners, a boutique forex brokerage consultancy firm based in Sydney and Hong Kong. Jetstream specializes in sales, market-entry, and corporate finance services in the field of forex and remittance. The partnership will enable us to expand our offerings in new geographies such as Hong Kong, Greater China, and South-East Asia regions. Jim Nazum, the Managing Director of Jetstream and I believe that it was the right time to forge our partnership. The prolonged COVID situation has compelled the financial services sector to transform digitally. We see DFO as a perfect game-changer in this context. Considering the limitations in business traveling and face-to-face interactions, DFO will enable forex and remittance companies to digitally acquire and onboard customers. We believe this will set precedence for other companies too who are planning a digital future and, together with Jetstream, we believe we will be able to reach the wider market with this important message.

• New Customers

  We onboarded new clients such as Orient Futures Singapore and supported them in their digital transformation through DFO. They are using DFO to improve client engagement and deliver a consistent experience across every client’s lifecycle stage. Here’s what Low Teck Ngee, COO of Orient Futures Singapore, who spearheaded this initiative, said about us.

  My team and I are delighted by the quality and speed of the FYNXT team. Thanks to their commitment and support, Orient Futures Singapore now has a unique and highly automated digital onboarding platform for both our individuals and corporate/institutional clients globally, and an insightful Customer Relationship Management system. These solutions would enable us to deliver customer service efficiently with a holistic and frictionless approach, which are paramount edges in refining client experience."

  It was gratifying to note the news coverage and to receive the feedback and wishes from so many people at that time.

As a digital-first company, we are convinced of the urgent need for companies in the financial services space to transform digitally. And the year 2020 allowed us to introspect and remind ourselves of our purpose of helping our customers become digital-ready.

Looking forward

According to Deloitte’s ‘Finance 2025’ report, technology will reshape how finance companies work. New developments such as self-service and new service delivery models will become a norm in the industry. We are at the vanguard of that revolution.

The pandemic has shown how digitalization is important to thrive and sustain business in the future. As a fintech company, we are committed to leading the finance industry into a world of digital transformation. From transforming the financial landscape to creating seamless digital onboarding processes for our clients, we will continue to define an entirely new genre of digital financial services. That’s my personal promise for 2021!