The future of Fintech: A way of innovation
Hey, we know that you came here to this blog after reading the title and meta description. It shows that you are willing to learn about the future of Fintech (Financial Technology) and you will get all answers before you complete this blog. We will familiarize your daily living by providing you the ABCs of financial technology which will help you to strengthen your financial health.
Let’s start with a basic idea about fintech:
Many times you may have observed the word Fintech as you scrolled down the “about us” page of a company’s website. Before digitization, it was customary to use financial services offline. A person had to fill out the forms in a bank to make deposits and withdrawals. What was once a slow and tedious process has become very streamlined now. It is possible through technology that solves the financial work, services, and problems within a short time.
Fintech is one of the most electrifying and fastest-growing areas in global business today. It can be defined as an industry composed of companies that utilize technology to make financial systems and the delivery of financial services more efficient. Fintech is going to create innovation and influence a new generation.
Benefits of Fintech:
Fintech is forcing consumers to adopt the habit of digital transactions and is the reason the cashless business is booming. It has changed our entire thought process about money. People are paying electronically for goods and services instead of using cash. To see the future of Fintech we need to analyze the growth of Amazon, the giant in this industry.
Amazon redefined shopping. People are shopping from their own homes by choosing the products they like even with their smartphones. See, how easy the concept has become! People have only to add the products to their cart, confirm their order, and then authorize the charge to their Amazon account(or other bank cards). Here are some benefits of fintech :
- It is helping people to get instant loans. Traditionally, to get a loan there was repeated running to the bank. Fintech has brought some non-traditional methods to the market. These methods allow investors to give funds to those who have not qualified for traditional loans. Now it is also possible to check your loan eligibility from your mobile.
- For a business person, it helps to automate his/her business. It then becomes very easy to open the next factory, next branch, next office, and next company.
- With the help of its technology, it manages your payment, expenditure, inventory, closing, pricing, margins, extra stock, etc in your business in a single sheet.
- Now payment transfer has become the easiest work for people with the help of this fintech. With some International payment gateways, you can use the fund transactions from your smartphone to anywhere globally.
- It helps a lot in the financial market. The use of artificial intelligence (AI) and machine learning allows automated trading in the stock exchanges. The advantages of Fintech are many more like these.
What about a Fintech startup?
The Fintech startup is doing business with the help of technology. Its dominance is increasing daily in every country. People are creating Fintech startups by using its dominance. If you are planning anything about a Fintech startup you are on the right track and just need to go with a strategy. In this blog, we will give you a bunch of help to start a Fintech startup.
Here are four tips we recommend for your startup. After diligent research by our team, we can assure you that in this wave of digitalization you can facilitate your startup if you follow the below points. So for the innovation of the future Fintech Industry let’s start with these points.
- First, you need to create a website and an application. It is easy to create a website with the help of word-press and there is no need to worry if you are not any technical expert. You can access many videos on YouTube for help tutorials on website making. The initial stage of a website is enough to run your startup.
- Without digital marketing, it may be difficult for you to increase the reach of your startup. In that circumstance, you have to go to Google & Social Media for vast marketing.
- We will recommend engaging at least two people to operate your startup. At the initial stage, you can manage this.
- You have to publish attractive blogs on your website for your startup. And it should be SEO optimized to rank top on Google. Here a content writer may help you. You can generate so many leads in this way by conversion. Your website and blogs play a huge role here
Fintech for students:
The growth of this industry will open many closed doors in the future and you need to be an expert on Fintech. You need to keep abreast of the changes that are happening here in this industry. You may need to read “Rich Dad, Poor Dad” and there should be a course on Finance in school. We believe this innovation needs to be shared with the kids.
Have you ever contemplated whether your kids are getting the right education in Finance or not? They will take the future of Fintech forward if you provide them the right education on finance and technology. We are creating a curriculum for the students to stand up on the learning management system.
What are our designs for Fintech?
Here we are using some courses for the students, grades 9-12. We will teach them how to make sound financial choices so they can manage and grow their money.
They can learn about credit, stock market, loans, savings, insurance, entrepreneurship, the risk versus reward, conflict resolution, etc. Currently, we are developing these courses. After completion of the entire process, you will be notified on our website. For the latest developments, you have to stay connected with ATL Alumni Connect. If you want to know anything about our plans on Fintech you can ask in the comment box. Or you can call us on the contact number mentioned in this blog. We will always be happy to answer you. In this blog, we have shared complete information about Financial Technology or Fintech. We have given you all the ideas about the future of Fintech. Stay tuned to ATL Alumni Connect for all your needs!