Mynd Financial Technologies Inc.
The financial system, mapped
Mynd Finance organises its scope against the structure of the whole industry, not a short list of familiar categories.
Fifteen areas
The industry splits along four lines: who the customer is (individuals, businesses, institutions), what is exchanged (money, credit, securities, risk), what carries it (infrastructure and technology), and what governs it (regulation and supervision). The fifteen areas below combine them. The last column says how each relates to Mynd Finance's two sides.
| Area | What it covers | Mynd side |
|---|---|---|
| Retail and commercial financial services | Everyday accounts, credit, payments and insurance for individuals and small businesses. | B |
| Corporate and institutional finance | Financing, treasury, advisory and risk management for large organisations. | A and B |
| Capital markets | Issuing, trading and distributing securities and other instruments. | A and B |
| Financial infrastructure and market utilities | Payment systems, depositories, settlement systems, central counterparties and trade repositories. | A |
| Insurance and risk transfer | Pooling and transferring risk through insurers, reinsurers and distributors. | A and B |
| Asset and wealth management | Managing assets for investors, from funds to private wealth. | A and B |
| Payments and transaction networks | Moving value between parties, domestically and across borders. | A and B |
| Credit and lending markets | Extending, funding, securitising and servicing credit. | A and B |
| Financial data and information services | Data, ratings, analytics and benchmarks that decisions depend on. | A |
| Financial technology and software | Systems that run financial processes. | A |
| Financial operations and outsourcing | Operated processes carried out for financial firms. | A |
| Regulatory and compliance infrastructure | Reporting, controls and supervision technology. | A |
| Digital assets and emerging technologies | Tokenised assets, new ledgers and new settlement models. | A, under research |
| Cross-border financial services | Services that span currencies, jurisdictions and regimes. | A and B |
| Specialised and underserved markets | Segments that standard products serve poorly. | A and B |
How the areas relate
Customers use products, which are built on infrastructure, which depends on data and technology, and all of it is governed by regulation. A service for the industry usually sits one layer below a product. A payment firm's product runs on payment infrastructure, and that infrastructure runs on software and connectivity. Mapping a service to its layer shows who is regulated, who is a supplier and where the dependencies are.
All fifteen areas are inside the intended scope of the industry side. For the business side, each domain is being evaluated individually.
Alignment with a standard classification
The United Nations International Standard Industrial Classification, Revision 5, groups financial activity in Section L under three divisions. Mynd Finance's nine layers are a service view of the same ground, so each can be traced back to them.
| ISIC Rev.5 division | Groups |
|---|---|
| 64 Financial service activities, except insurance and pension funding | Monetary intermediation; holding companies and financing conduits; trusts, funds and similar entities; other financial service activities such as leasing, trade finance, factoring and securitisation |
| 65 Insurance, reinsurance and pension funding | Insurance; reinsurance; pension funding |
| 66 Activities auxiliary to financial service and insurance activities | Administration of financial markets; brokerage; risk and damage evaluation; insurance agents and brokers; fund management |
Structure as published on the UNSD site. See Sources.
Standards used as reference points
Where a service area has an international standard, the catalogue cites it: the Principles for Financial Market Infrastructures for payment, clearing and settlement systems, the Basel Framework for banks, the Insurance Core Principles for insurers, the FATF Recommendations for financial-crime controls, and ISO 20022 for financial messaging. They are cited as context, not as a statement that Mynd Finance meets or is assessed against them.
Taxonomy