Introduction

FinGroove is a fintech product that serves as the financial services specific version of Step Ahead Software's generic data transformation service known as Filegroove. As FinGroove is engineered and customized specifically for the financial services industry it is extremely easy for users in that industry to understand and operate.

Purpose

The basic concept is that FinGroove takes files from a large variety of product providers, extracts the data within them and then generates the useful data into a new file that is produced in a format that is specific to the system that will perform further "downstream" processing on the data.

The possible "downstream" data processing systems include:

• CRM
• Portfolio managements platform
• Mortgage management platform
• Compliance platform that produces legislatively mandated compliance reports

Terminology

Due to FinGroove's use in a number of different segments of the financial services industry we use some generic terms to cover similar concepts across the financial services industry.
 

Generic term	Applies to specific terms
Agent	Financial adviser, Mortgage broker, Insurance broker
Agency	Financial advice company, Mortgage brokerage, Insurance brokerage

When you see one of the generic terms used in this document or in the FinGroove application please be aware that it applies to the specific term in your sector of the financial services industry. 

Basic operation

The FinGroove portal has an upload facility where product provider files are uploaded and processed. The user simply selects the product provider that provided the file and then uploads the file to start processing it. After successful processing the user can download the transformed file which can then be submitted to the downstream system.

API Integration Options

The FinGroove portal provides automated data transformation operations as descrived above through a user interacting with the system via their browser. This provides enormous productivity gains over manual data extraction from the many different product provider formats however for higher volume clients we offer API integration which allows software systems to send transformation requests directly to FinGroove without requiring user intervention. For more details on this more advanced option please contact Step Ahead Software directly.

The main screens

The File Processing page and the Agency Configuration page are covered in detail in the sections below:

File Processing

Agency Configuration