Even though there were quite a number of fintech startups founded in the past couple of years, it is still a challenge to run up against the big players in the banking industry. Scalable Capital was founded in December 2014 with the idea to change the concept of investment banking and portfolio management, making it applicable to our modern digitized world.
When it comes to investing and managing their assets a lot of people are of course very cautious. Therefore Scalable Capital wanted to take away their fears and help them to better understand risks. Consequently, their vision was to make investment management easier than ever. At the heart of their vision stood the idea to make use of technology at every step of the process. And that is exactly what makes Scalable Capital’s product stand out.
It is the first, and only, investment service to use a technology-driven, data-led investment approach. What does this mean? It means that a team of more than 40 experts with financial and technical backgrounds built a service that makes investment management cheaper, more accessible as well as more convenient for its customers. Not only do they offer a great online portal where customers can overlook their portfolio management, but they also offer a mobile app. Their app is available on iOS.
The Anyline Solution
Scalable Capital realized that it would be very annoying to type in all the personal information (IBAN, passport info, etc.) and data needed for the onboarding process. As they were already making use of great technology they thought why not make this step technology-based as well. And this is where Anyline came in. Consequently, we offered Scalable Capital an incredibly fast and accurate optical character recognition (OCR) SDK.
The whole process of Scalable Capital is therefore based on technology. Starting with the registration process where the user has to answer a few questions to better understand what he/ she is looking for in Scalable Capital’s service. The next step is for the user to easily scan his / her passport to automatically fill in all the personal data requested.
But that is not the only step where the product is making use of Anyline’s technology. In addition, IBAN scanning is offered within Scalable Capital’s product. In both cases, optical character recognition is making the process even faster and easier, as well as less prone to errors.