Today, let's talk about FinTech which means Finance-Technology, In view of what we are developing in SUREBANQA'S ecosystem: SyncBANK. More and more nowadays, FinTech has become a buzzword such blockchain and cryptocurrency in this new industry as well.
Financial Technology, also known as fintech, is a new financial industry that deploys technology to improve financial activities. The term "fintech" is a contraction of "finance" and "technology". By extension, the term "fintech" is used to refer to a company operating in this field. Fintechs are generally startups that are well versed in information and communication technologies and are trying to capture the market share of large companies in place, which are often not innovative or lagging behind in the adoption of new technologies. Fintech brings together all companies using innovative and disruptive business, technological or economic models to address existing or emerging issues in the service industry.
Various fintechs using a variety of Technologies are active in each of these areas. Some, for example Robo-Advisory systems that provide automated recommendations with little human input, use tested technologies to meet customer needs, while others pursue more experimental technologies, such as Blockchain Systems that track and store an expanding series of transactions to help reduce infrastructure costs and improve efficiency.
In addition, fintechs are moving beyond addressing a customer’s financial needs to offering a wider range of services, blurring the industry’s boundaries. For example, Social Finance, known generally as SoFi, began by offering financial products to students and young professionals and has since expanded to provide career coaching and networking services. Holvi Payment Services, a Finnish start-up acquired by Spanish financial group Banco Bilbao Vizcaya Argentaria (BBVA) in 2016, began by offering banking services to SMEs and expanded to provide complementary offerings, such as an online sales platform, bookkeeping services, expense-claims systems, and a cash-flow tracker .
Increasing diversity
The fintech industry is also becoming more diversified, with a wide variety of business models seen across geographies, segments, and technologies. One common model would be a start-up backed by venture-capital funding emerging to address a specific customer need.
Yes all these are just the words and pretty much more marveillous to heard. We all know infini number of start-ups and companies who aimed to make its happen, this in different ways. Now the question remains: How to bring all the stuffs to the grassroot, by being more inclusive than ever and make ordinary people great again.
Here is where SUREBANQA comes in, by aiming to offer one of the most innovative and disruptive financial inclusion ecosystem with futurproof products & services all in one. This is possible by the capability of the core team to know where they come from to be able to understand the local realities, for example: How does a farmer in rural area, can fell a change on his activities when getting involved into our Blockchain and Cryptotech ecosystem. All these aspects have been taken in account to offer a very eco and user friendly environment, that you will have opportinuty to discover pratically soon. But before we get there, all of you here are part of it at the first line.
