Fintech Robos, Provider of Robo Advisor Technology, Migrates to Cloud-only Infrastructure with AWS
We are a B2B Fintech company, providing our partners with leading-edge technology for offering mobile-first and cloud-only savings and investments services.
Founded in 2020 in the Kingdom of Bahrain, Fintech Robos is the product of several experts pooling together to revolutionize how financial planning and investment operations can be digitally managed.
Importantly, Fintech Robos aims to be part of the solution to the region’s chronic pension funding conundrum. It will do so by filling the current gap in technologies and admin services available that allow the provision of both personal and contributory (Defined Contribution) pension plans.
Fintech Robos’s Founder & CEO says: “People do not behave like rational agents as economists like to assume. They face many biases; that’s why they do not save or invest in optimal ways. In practice, a Goals Based Investing (GBI) approach should make investors happier with the investment process and its financial outcomes”.
“The most powerful value-add that Fintech Robos provides is the human-machine interface, that keeps the client engaged from their first day of interaction all the way to their final goals that might be many years in the future. We have designed beautiful goal-trackers as personal informatics for retail clients, which enhance their awareness and provides targeted recommendations for financial behavior and savings journey,” explained Mr. Ebrahim.
Our technology stack comprises a Mobile App (frond-end system for client onboarding, savings goal dashboard and client interactivity), a Middle-office for automating the entire operations workflow, and a Back-office (a high-end, proprietary data management system) encompassing digital warehouse, multi-providers APIs and interfaces that allow financial providers to offer a diversified array of investment products.
As we begin testing and prepare for operational launch later this year, we’ve started to run our entire production stack (APIs, applications, databases, company websites etc.) in the cloud as well as planning to utilise soon specialized AWS services focused towards Artificial Intelligence and Machine Learning to improve our Robo Advisory technology. Continuous Integration and Continuous Delivery will also be there to improve our overall development quality and speed.
We are specifically choosing AWS for the following reasons:
• Scalability – Our infrastructure can easily grow with the company.
• Simplicity – Services provided by AWS make it easy to deploy and run our applications/databases.
• Technologies – AWS provides specialized technologies which can improve our business (as above – AI/ML etc.)
• Location/Availability – AWS having datacenters hosted in Bahrain means high availability and fast speeds due to close proximity.
• Security – AWS infrastructure allows us to meet all security and compliance requirements and responsibilities.
The vast majority of people do not really know what their own goals are. The interaction between a savings vehicle provider and the saver must be such that the saver is nudged towards thinking in more detail about their goals. Fintech Robos’s intelligent and teasing UI/UX design is critical in this regard.
Proper engagement will lead to clients having investment actions that are aligned with their goals. Whether this be to invest, increase contributions or rebalance, appropriate information flow to the retail investor is what is key to a great client experience.
We want to build a trusted, purpose-driven regional house of Fintech solutions for long-term savings and investments. Our solution will be used by financial and corporate institutions throughout the MENA markets. That’s why the Cloud and AWS have been our best choice for reliability, scalability and security.
At Fintech Robos, we believe that people who invest in themselves financially are the very ones who move forward. They must have control and direction over their financial future. We encourage them to shape it and have a grip on it throughout the journey.