Saturday, September 8, 2018

5 Benefits of Financial Technology

5 Benefits of Financial Technology

Financial technology (also referred to as FinTech) is the use of innovative technology to deliver a wide range of financial products and services. It is intended to facilitate the multi-channel, convenient and fast payment experience for the consumer. This type of technology is effective in many different business segments, such as mobile payments, investment management, money transfer, fund-raising and lending.

The rapid growth of financial technology has been very beneficial for consumers worldwide, such as the ability to serve customers that were not previously attended to, a reduction in costs, and an increase in competition.

Let's take a look at a few of the benefits related to financial technology:

Better payment systems - this type of technology can make a business more accurate and efficient at issuing invoices and collecting payment. Also, the more professional service will help to improve customer relations which can increase the likelihood of them returning as a repeat buyer.

Rate of approval - many small business ventures are starting to use the alternative lenders like those involved in financial technology because it has the potential to increase accessibility and speed up the rate of approval for finance. In many situations the application process and time to receive the capital can be completed within a period of 24 hours.

Greater convenience - the companies involved in financial technology make full use of mobile connectivity. This can significantly increase the number of people who can access this type of service and also increase the efficiency and convenience of transactions. With consumers given the option to use smartphones and tablets to manage their finances, it is possible for a business to streamline its service and provide a better all-round customer experience.

Efficient advice - many of the latest systems rely on robo-advice to give people guidance on their finances. This can be a very quick and low-cost option to get useful information on investments, as well as to limit a person's exposure to risk. However, this type of service will not be able to give the most in-depth advice that would come from a professional adviser.

Advanced security - Using the latest security methods is necessary to ensure more people are confident in using this type of financial service. The need to harness the latest mobile technologies has replied in a major investment in security to ensure customer data is kept safe. A few of the latest security options used by those in this sector include biometric data, tokenization and encryption.


  • Video Games - The Perfect Escape?Video Games - The Perfect Escape? Why oh why did you say yes to that last shandy? The kebab seemed like a good idea but your mouth now resembles the inner lining of Phil Jupiter's underpants. And to top it all off, you're stuck in a lava filled…
  • Logo Design - It's Not A Cost, It's An InvestmentLogo Design - It's Not A Cost, It's An Investment A Logo is a mark - symbol and letters combination which composed or designed and become a unique character to recognize a company or a business. A Logo has to be able to describe the main…
  • How To Select A Gift For Your GirlHow To Select A Gift For Your Girl Gifts are one of the many ways to impress the girl you like. It is not only used to impress but also to express your feelings to a person. Some boys think that giving gifts end with courtship. But, then…
  • Life's A Stage: The Tips And Tricks Of Grease MakeupLife's A Stage: The Tips And Tricks Of Grease Makeup Whether you are thinking about using grease makeup for a theatrical event, a special Halloween party or some other occasion, you need to know what products are out there and how to apply…
  • Bitcoin Brokers - Understand the Benefits of CryptoCurrency TradingBitcoin Brokers - Understand the Benefits of CryptoCurrency Trading Bitcoin is a cryptocurrency, which can be sent, saved, or invested, and it can be stolen too. Trading with Bitcoins was considered to be risky, but the current trends show that…