The word “fintech” is derived from “financial technology” which means the integration of technological tools and innovations into financial operations in order to enhance and automate the financial processes. Fintech is used to assist financial institutions, businesses in the management of their operations to provide better services to their customers. As the industry of fintech is actively evolving, there is no surprise at all that the news from this sphere can attract wide attention.
Adoption of fintech by a company would mean a significant change to their mode of operations as it involves the use of specialized algorithmic models, mobile applications and dedicated computer software packages.
At its initial introduction stage, companies from a range of industries including banking, education, fundraising, health, venture management, etc. only used fintech for back end systems where they get absolute and full control. Nowadays, most industries have started using the innovation for consumer-oriented services in an attempt to serve their clients better while increasing the transparency in their operations.
As we move towards a significantly digitized world, from the introduction of the internet to social media, smartphone evolution and now blockchain technology, the need for adoption of cryptocurrency cannot be overemphasized. As the underlying framework of pioneer cryptocurrency bitcoin, the blockchain is a vital part of fintech. We’ve seen a number of blockchain-powered fintech apps being employed by banking industries and data inclined platforms.
Fintech has become a major part of the finance space in recent years, this points to the fact that major conglomerates have identified and prioritized its importance in growing their businesses. Fintech works closely with other new technologies such as data-driven analytics and marketing, machine learning, artificial intelligence, etc.
Coinspeaker presents the best and latest Fintech news, ranging from its use in cross border payments, startup business fundraisers, venture management, credit application, to remote banking, as investors and stakeholders’ awareness about the innovation continues to rise daily.
To dominate the retail world, e-commerce giant Amazon is persuading brick-and-mortar merchants to accept its mobile payments system Amazon Pay.
While blockchain has considerable, yet partly unsused potential in the wider financial markets, PumaPay has come to reform credit transactions and introduce cryptocurrencies into the consumer mainstream.
A new project Aerum will challenge the current issues of blockchain technology with its “number one” Ethereum-based platfrom.
Since we can’t always predict what our life has in store for us, and circumstances may change in a blink of an eye, which comes especially important when you’re paying a personal loan, it’s wise to consider several possibilities for its refinancing.
Cryptocurrency startup Veem just completed a new funding round that includes investors such as Goldman Sachs and Google Ventures. This is not surprising, given the exponential growth of the company, as it seeks to disrupt the global payments sector.
In a talk with Coinspeaker, B2Broker’s CEO explained the main issues of the cryptocurrency market and covered the key challenges of launching a new fintech project.
The Japanese banking giant plans on rolling out the “S Coin” in an attempt to dominate the mobile payments sector. This new project fits the overall vision of the company to ultimately help Japan turn cashless.
JPMorgan’s payment project based on blockchain technology has welcomed more than 75 banks that are ready to participate in trials.
Although banking and finance are usually slow technology adopters, both have to catch up with technological trends to survive. See what potential AI-powered tools have in the sphere and what obstacles get in the way of their wider adoption.
Switzerland’s blockchain and fintech experts will work in developing the regulations for Isreali officials and present it to the Israeli government by the end of this year.
Mobile investment app Robinhood is now looking for a chief financial officer as a part of preparation for an initial public offering (IPO), which could help the startup pitch itself as the cheaper youthful alternative to E*Trade and traditional stock brokers.
The well-known commission free trading app Robinhood has updated platform’s customer service with a number of analyst tools for better research and trading experience.
While blockchain builds an alternative self-regulatory crypto-economy, Universa comes to solve specific tasks of the existing one.
With an increased security and advanced processing capacity, the startup aims to provide its customers with seamless and reliable trading experience.
The popularity of the Bitcoin-friendly Square Cash App is growing. Now it has managed to outperform its rival, Paypal’s Venmo.