Instinct to invest heavily in IT infrastructure and FinTech Lab
Instinct Studios, a FinTech company that creates smarter digital customer experiences, has announced it has secured a £1.5m investment to support the company’s ambitious growth plans. The investment will be channelled into the Instinct Studios’ FinTech Lab, the company’s dedicated R&D division, focusing on new and innovative ways to deliver digital products and services for the financial services market.
When compared to other sectors such as retail, travel and telecoms, the digital user experience within financial services is generally way behind the curve, and Instinct’s aim is to breathe new life into the sector. A significant part of the investment will be used to fund a new cloud-based infrastructure that will enable Instinct to launch solutions that have high availability, enterprise level security, high-end performance and global scalability.
This announcement follows the recent news that Instinct has agreed a preferred data provider deal with independent investment research firm Morningstar, Inc. Instinct is licensing Morningstar global fund data to develop digital solutions that will help investors make better informed financial decisions. The investment into a state of the art IT infrastructure will enable the company’s FinTech Lab to open up new and exciting ways for investors to consume fund information.
“It’s fantastic that we’ve been able to raise £1.5m to help us explore and develop new FinTech ideas,” said Majid Shabir, CEO and Founder at Instinct Studios. “Customers are now accessing information and real-time data on the move and constantly seeking better, easier and faster services – the financial services market is just not reacting quickly enough to this at the moment. This investment gives our FinTech Lab team the freedom and the technology to think really creatively and break new ground. Financial services firms should be aiming to deliver digital experiences that Nike and Apple would be proud of and I’m absolutely convinced we’re going to develop digital solutions that will help change the face of financial services.”