Fyorin was born out of frustration that our founders experienced around business banking, both from an SME and Financial Institution perspective, as they were working on scaling up other online businesses globally across various industries. In most cases, businesses of any type interact with a number of financial services to cater for their end-to-end business banking requirements. However this is a painful and expensive process
In view of this, the majority of SMEs or Financial Institutions are prevented from reaching their full potential or miss out on certain business opportunities, because of the financial hurdles they would have to go through. This goes to show that business banking as we know it is hard, unnecessarily complicated and certainly not frictionless.
After experiencing all this, our founders challenged the status quo and decided to combine their diverse knowledge to disrupt the current business banking model. With the aim being to make business banking better.
In a world where digitalisation is moving forward at a fast pace, there is an increased demand for swift, flexible and frictionless banking capabilities. We believe that this can only be achieved by various financial partners collaborating together to build a financial ecosystem. This lets financial institutions leverage each other’s strengths, which in return adds more value to their respective corporate clients.
Therefore our vision is to build the rails for better business banking in the form of an ecosystem, whereby financial institutions—including banks—can make use of the ecosystem to enhance their value propositions or increase their revenues.