Fennech Financial is a B2B fintech, based in London. It digitalises finance operations, across functions such as treasury, financial controlling, managerial accounting, and regulatory.
Fennech has designed a cloud-based, platform-as-a-service called the Fennech Financial Framework to meet the specific needs of finance directors, controllers, operation teams and treasurers. Its unique Digital Contract structure allows clients to combine financial data from many different sources at a detailed, transaction level, meaning it can digitalise a range of finance activities on a single platform.
Fennech Digital Contracts are immutable and self-executable, creating a robust audit trail and operational efficiency benefits without the need for all counter-parties to be on a blockchain solution.
Across activities such as reconciliation, payment generation and agency management, the use of Digital Contracts, combined with business intelligence and machine learning delivers a range of benefits including a dramatic reduction in operating cost and advanced analytics for finance, regulatory and business.
The platform was initially built for the re/insurance sector and today supports all complex financial operations in insurance. It is also the first intelligent cash management platform that natively uses Association for Cooperative Operations Research and Development (ACORD) standards, according to the company.
Headquarters: London, UK