Fintech Developers in the Post-COVID IT: How to Stay in the Game Playing Fair

Konstantin Romanovsky KoenigTech

Konstantin Romanovsky – Principal CEO of KoenigTech Ltd tells us how they provide industry-focused IT solutions packs for all kinds of clients from the financial sector.

First of all, how are you and your family doing? 

Konstantin Romanovsky: Thank you, I’m fine, and my family is safe. Everything is exactly as usual.

Tell us about you, your career, and how you founded KoenigTech.

Konstantin Romanovsky: I founded KoenigTech in 2007 when my partners and I joined together with the idea of creating an all-business, multipurpose finance platform, KoenigFinance.

Over the 15 years of our work, KoenigTech has turned from a startup into a steadily growing company that develops online banking for financial companies around the world.  

How does KoenigTech market its product/services online? 

Konstantin Romanovsky: Maybe someone will be surprised, but to be honest, basically, we spend little money on promotion. 

We also very rarely take part in offline and online conferences and competitions. We invest in work and work for the result – namely, software for our customers at a very competitive price. We are a good example that a truly high-quality service will not go unnoticed and will definitely become known thanks to customer reviews. The goal is to satisfy customers. So this is our marketing.

How the coronavirus pandemic affects your business, and how did you get through it?

Konstantin Romanovsky: You know, in business, as in life, a pandemic drives someone into depression while someone awakens a wild desire to live. Our team, as a working organism, took the second path.

We have organized our company operations in such a way that, being in different cities and countries, all team members are constantly in touch, the workflow is transparent, and quality management is automated to a degree where even Covid could not affect it.

We have been using online task trackers for many years to interact with clients. All business processes in our company are transparent and easily controlled, and not a single task set by the customer can be lost.  

By the way, just in the midst of the pandemic, we decided that we needed to document the level of our quality management system and pass the ISO 9001 certification.

Now, when the post-COVID IT era has come, we have noticed that the number of applications for the development of financial projects has significantly decreased. But those that remained have made a significant leap of improvement!

People began to analyze more and calculate more accurately, which is certainly a big plus of the post-COVID era not only in the IT field but also in any other field.

Who are your competitors? And how do you plan to stay in the game?

Konstantin Romanovsky: Choosing a software provider, I advise you to pay attention to the fact that many companies release so-called “ready-made banking software solutions,” but in reality, it turns out that the client pays a lot of money and, in the end, receives only a basis for online banking, into which the client has to integrate applications themselves, wasting time and money over and over again.

In our case, “a ready-made solution” means that all applications are already integrated, and the business can be launched almost immediately.

On closer inspection, it turns out that there are a small number of companies in the fintech developer market that sell a truly ready-made platform for launching a fintech startup or upgrading an existing financial company with new software. 

I cannot remember and name a competitor who would do the same as we do. How are we different? Our clients say that we are more open – we easily conduct a dialogue, share our experience, and give support and advice sometimes at an early stage before a contractual relationship has even started. 

Someone will say that it is the wrong way from a business point of view. But I will answer: our life is not only business, and we just remember very well how we started ourselves.

Your final thoughts?

Konstantin Romanovsky: We came in the post-COVID IT era with changed minds.

People are obsessed with the idea of ​​digitizing and automating everything that is possible, of coming up with global system solutions that would allow businesses not to depend on similar epidemics in the future. And KoenigTech certainly contributes to this.

Our platform is being improved every day. Before the outbreak of the pandemic, we enhanced the platform with a solution for money transfer systems. Аnd as it turned out, we did it on time: the lockdown has clearly shown how important it is to develop services for online money transfers, improve existing systems and launch new ones. 

Our turnkey mobile application, which is closely connected to the backend of the KoenigFinance platform, is also something we can be proud of. No one knows what lies ahead for us, but at least now we are confident that we can remotely support our loved ones.

Progress in the post-COVID IT era is rapid, but as you can see, the market for online fraudsters is also growing. That’s why we are especially proud of our state-of-the-art KYC system that every client can customize for their business needs, as well as the built-in client video verification system, which is a very effective risk-mitigation tool.

In a word, if you are ready to digitize your business – we will be happy to help you. 

By the way, just now, part of our team has completed work on a large-scale project, and we are ready to take on a new one =)

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