Cinchy Delivers Exciting Demonstration in Advancing Mobile Payments Via Back-Office Support

May 31, 2019         By: Steven Anderson

For most mobile payments users out there, the prospect of using mobile payments is fairly simple. This is especially true for anyone who’s got the tap-and-pay concept down to a science by now. Yet as simple as the user experience is on that end, it relies on a plethora of back-office concepts and behind-the-scenes events taking place in just the right sequence to deliver quick access to those payments we depend on. Cinchy, meanwhile, recently sent word our way about its trip to FinovateSpring, and the demo that took the event by storm.

Cinchy’s product focuses on enterprise data collaboration, which allows various data sources to better connect and create what Cinchy calls “…an interconnected, real-time network architecture that is used to accelerate enterprise technology delivery.” Basically, it opens up visibility into a company’s operations and allows that company to speed up its time-to-market figures, getting new advances out the door and into the end users’ hands.

Cinchy’s demonstration at the event, meanwhile, was referred to by some attendees as a “standout” demo, a noteworthy point given that few are even allowed to present at FinovateSpring anyway. Considering what was in Cinchy’s demo, it’s not hard to be impressed; it demonstrated how it was used to build “an enterprise-grade real-time mortgage approval system with AI-powered risk assessment.” That’s exciting enough, but it only gets better; the tool took three days to build with Cinchy.

We all know by now that the pace of development in the mobile payments space is downright frenetic. We’ve seen an ongoing battle to establish security in the space, and we’ve seen new products emerge at a fever pitch. We’ve gone from virtually nothing to a massive multinational industry in the space of under five years; Apple Pay only started up in October 2014. So why wouldn’t companies be interested in a way to improve development? Look at the banks in the mobile payments space; most of them are actively looking into mergers and acquisitions to get some skin in the game. A tool like Cinchy’s might well turn that whole notion around.

Cinchy may not be the magic bullet cure for development woes in the mobile payments space, but it’s certainly got a handle on helping provide development capability here.