Fintech firm Munichain launches workflow management tool

Fintech company Munichain is rolling out its workflow management tool to a larger audience.

Munichain, which was formed in 2022, seeks to break down the walls between external firms through its workflow management application, said Michael Lieberman, co-founder and head of product management at Munichain.

The application, also called Munichain, is a web-based tool that allows users to “collaborate in one central environment, manage documents, signatures, analytics, curve information, distribution list information, receive alerts and view historical information,” said Matthew Gerstenfeld, CEO and co-founder of Munichain .

The workflow solutions are tailored and aimed at life in the municipal market, said Gerstenfeld.

Features include sending tailored emails to users, storing information and documents on the system and the ability to access the names of personnel involved in an agreement. The product continues to be updated and Munichain is working on a feature that allows users to ask a question and the system will retrieve that information, according to Gerstenfeld.

Currently, many people’s day-to-day life spans heavy tasks “e-mail, phone calls, scanning through files … and so what [Munichain] doing is refining workflows by iterating with people in the marketplace, who are now leaning toward modern applications to achieve efficiencies across their firm,” Gerstenfeld said.

“We’re simply streamlining the overall process so you don’t have to be tied to your desk to do your job well. Users receive alerts to keep track of how deals are progressing without the headache.”

“How [the market] functions today are tough,” Lieberman said. “If you work in company A and somebody else works in company B, it’s hard for them to be able to communicate together, they have their separate channels, separate processes.”

That’s why Lieberman said “we’re creating that one-stop shop for them to come in and work together.”

Munichain focuses on everyone involved in the capital formation process, not just the banks or broker-dealers, Gerstenfeld said.

“We’ve learned through talking to a lot of companies that they don’t have technology built specifically for their use cases and needs,” he said.

These firms, Gerstenfeld said, may use email and Microsoft Excel, but may not have anything tailored to their specific needs, which is where Munichain comes in.

Initial feedback has been positive and revolves around the benefits of helping businesses become more organized and taking some of the pressure off when it comes to tasks like compliance, Lieberman said.

“We keep data in a centralized place to reduce the need for them to go hunting all over the place for basic information, documents and records,” Lieberman said.

The workflow management tool is easy to use, Lieberman noted.

“We make it easy for users to be able to navigate our application and do their job,” he said.

However, Gerstenfeld said the firm is not “just leveraging the technology just to say, ‘We’re leveraging the technology,’ but addressing the specific details that will greatly benefit the user base and the market in general.”

Munichain’s product augments these processes to make individuals more efficient and generally improve their day-to-day so that users can focus on other tasks, Gerstenfeld said.

“We in no way offer our solutions to transform or disintermediate market participants, but rather empower them with modern and efficient tools,” he said.