Opportunity identification
2-4 weeks
- Design Thinking workshops and technical concepts
- Quantitive and qualitative analyses
- Primary and secondary research
- Ideation and product strategy definition
Symphony partners with financial and insurance companies
To design and develop custom digital products
Custom digital products usually aim to establish new revenue streams and increase revenue or automate processes, thus decreasing operational costs. In the ever-changing financial and insurance sector, Symphony ideates, builds, and scales transformative solutions. Furthermore, our expertise extends to partnering with clients from other industries to integrate financial solutions into internal and customer-facing digital products.
What we offer
Empowering tomorrow's financial landscape
At Symphony, we recognize the crucial need for innovation in the financial and insurance sectors. In collaboration with our clients, we have developed deep expertise in modernizing legacy platforms and systems, as well as launching and expanding new products and revenue streams. This includes integrating cutting-edge technologies such as GenAI, blockchain, and AI/ML into digital products (specific examples below).
Our impact in the finance and insurance sector
25
+
Clients
10
+
Years of industry experience
30
+
Products built
10
M+
End users of our solutions
Worked with major banks in the US, Europe, and Asia
Our experience with financial and insurance companies
Banking
- Core banking software
- Mobile banking applications
- Loan management systems
- Fraud detection solutions
- Risk management and compliance
Financial Services
- Process automation
- Order management systems
- AI/ML-based data analytics
- Secure payments and data privacy
Insurance
- Solutions for life insurance and InsurTech
- Claims management software
- Employee benefits administration
- Front-end & cloud-enabled solutions
- Underwriting software
- Robotic process automation
- Data management and transformation
FinTech
- Payments and billing solutions
- Regulatory technology (RegTech)
- Wealth management systems
- Capital Markets solutions
- Deep tech for financial services
Quick overview of some of our results in financial services & insurance
Banking
300K
Supported 300K customer users on the first day with a mobile banking application
For a European commercial bank, replaced outdated, monolithic e-banking system with modern microservice architecture and advanced mobile solutions resulting in an 8% increase in customer satisfaction within 30 days
5 months
Delivered an MVP in under 5 months
For a US commercial bank, generated a new revenue stream by creating a talent hub for startup hiring needs, with hiring serving as a readiness indicator for loans
70%
Shortened the loan approval process by 70%
For a retail chain, automated processes by creating a mini cash loan system and financing solution to replace a non-scalable legacy tool, which approves or rejects loan applications and defines purchase credit limit
$100K
Built a 3rd party integration allowing customer loans up to $100K
For a reseller of used electric vehicles, built a new product - an EV-focused web portal assisting consumers in purchasing used EVs and a 3rd party integration enabling customers to purchase EVs via loans
Financial Services
30%
Improved employee efficiency by 30% with an internal banking dashboard system
For a European commercial bank, automated processes with a reporting solution for managers and administrators, switching from Excel sheets to an internal dashboard offering scorecards and management tools
1M
Built an inventory and payment platform scaling it to 1M paying customers
For a global solar energy provider, automated processes with a platform to manage PAYG solar power for developing countries, including management of mobile payment transactions
9 weeks
Accelerated roadmap and delivered mobile app in 9 weeks
For a payments infrastructure provider, accelerated the roadmap, built internal capabilities, and sped up processes by developing a checkout solution, integrating EBT payments into existing checkout flows, and offering distinct input fields
Insurance
450%
450% sales increase year-over-year
For a high-tech life insurance company, generated a new revenue stream by expanding the platform and offering its infrastructure as a service to other companies by working on all core parts of the system
5 months
Built an application in 5 months
For a leader in the InsurTech industry, generated a new revenue stream by developing a web application for insuring smart gadgets against theft, damage, and loss, pioneering the insurance of crypto wallet devices
2K experts
Improved processes for 2K experts in 35+ locations globally
For a global expert services and advisory firm, automated processes by developing a web application serving as an HR tool, holding employee data, their skill sets, and benefits
50+ plans
Integrated 50+ insurance plans with the digital platform
For a world-class nutritional coaching provider, built a custom digital platform that improved dietitians' ability to coach patients and integrated a third-party system for insurance verification
FinTech
3 months
Delivered an MVP in under 3 months
For a wallet-as-a-service provider, built an order-ahead mobile app that enables users to place orders in quick-service restaurants and pay with a merchant-branded balance
95%
Covered 95% of the market with financial platform solution integrations
For 140K US private practice providers, built an AI Co-pilot automating the reconciliation process between expected and realized payments, enabling a breakdown of bank balances and average daily transactions
4 integr.
4 system integrations with external systems
For a bookkeeping services provider, built a platform that provides automatic transaction imports, bank reconciliations, and real-time updates to enhance bookkeeping services and save time for company owners
70%
Increased investment intelligence platform performance by 70%
For a financial services company, conducted legacy modernization by developing and executing a high-level software revamp strategy, coaching the client's in-house team, and enabling tracking of stock and equity insights in real-time
6 leaders
Built an asset management platform for a joint venture between 6 global leaders
For a joint venture, built a reporting solution enabling real-time tracking of clients' assets' performance, redefining asset management infrastructure, and improving the efficiency of middle and back-office functions
We create a culture of partnership
About Symphony
Over 650+ full-time employees
Built 200+ products
Working with 8 of Fortune’s Most Admired Brands of 2022
Working with 2 of the 3 largest tech companies
3 years without an unplanned client disengagement
< 10% attrition rate
Symphony partners with financial and insurance firms to unlock value and deliver innovation
Product discovery
2-4 weeks
- Discovery sprint
- Wireframes and product prototypes
- Solution architecture design
- Initial product roadmap & high-level system capabilities
- User interface research and testing
- Time and cost estimation
Development and delivery
3-4 months for first MVP
- Custom product development
- Integration with third-party systems
- High-fidelity designs
- Continuous product discovery, research and validation
- Refactoring and migration
- Quality assurance, usability testing and user feedback
- Infrastructure setup and maintenance
Commercialization and growth
TBC based on complexity
- Data collection and analytics
- Product growth strategy
- Primary and secondary research
- Continuous validation
Let's Work Together
Contact us today to learn more about our tailored approach to delivering value in the finance and insurance domains
Muamer Cisija, ex-Morgan Stanley
Co-founder and President
at Symphony San Francisco
Katharina Pfaffhauser, ex-McKinsey
Chief Business Officer
at Symphony Zurich
Dan Lau, ex-BCG DV
VP, Head of Business Development
at Symphony Los Angeles