Ernst & Young (EY) said that its Romanian unit Ernst & Young SRL (EY Romania) has forged an alliance with FintechOS to support financial institutions in their innovation and digital transformation journeys.

The alliance aims to ease and support the rollout and service of banking and insurance products for financial organisations. It will also support detailed transformation journeys with the help of innovation, business knowledge, and the deployment of the fintech enablement platform of FintechOS.

EY Romania and FintechOS expect their collaboration to help financial institutions launch new or adjusted financial products faster to the market. The alliance will also assist in creating new underlying processes that are useful for clients, employees, and the larger ecosystem.

EY Romania EY–FintechOS alliance leader Andrei Ratiu said: “This Alliance reinforces one more time our strategy to collaborate with financial service institutions for long-term value generation initiatives and support in their strategy, business and technological endeavors to better address client and ecosystem necessities.

“Hence, banks and insurance companies will be able to be much faster and more efficient in the market with solid services for new or redesigned products and omnichannel optimised customers and internal journeys.”

According to EY, the partnership with FintechOS will combine the former’s Romania sector business and regulatory deep expertise with innovation and skills in implementation. Besides, it will provide competitive edge, scalability, and security through the cloud-native platform of FintechOS.

The alliance will help banks and insurers modernise IT landscapes for delivering digital experiences and services for utilising a low-code, no-code technology-driven approach.

It is aimed at promoting innovation across organisations and improve business operating models, while elevating the experiences of customer and users for growth as well as optimisation, said EY.

FintechOS CEO Teo Blidarus said: “Working alongside EY Romania, FintechOS is excited to offer businesses a technology-driven approach to modernising IT landscapes, resulting in faster time-to-market for new financial products and improved experiences for customers.

“With this Alliance, businesses can streamline their operating models and speed up innovation with minimal disruption, while delivering seamless, personalised, efficient, and scalable digital experiences. Ultimately, the goal is to drive growth, improve value for clients, and boost customer satisfaction through digital transformation.”