Fintech has become one of the major buzzwords of the decade, and now many businesses are taking advantage of the countless technological developments in order to save time and money.
In fact, fintech firms may allow many businesses to grow at a much faster rate, given that it has the ability to completely revolutionise their processes.
The rise of Robo-Advisers has been a major development for those needing financial advice and help with portfolio management. These handy, automated tools apply complex algorithms to investment decisions, which take into account budget, individual risk tolerance and time horizon.
It could well be the case that they will by widely adopted by a number of different types of companies. One area in particular could be online trading through brokers like Oanda, as this involves making constant investment decisions which often involve a lot of risk management.
Another innovative fintech development is Ascribe, which allows different types of artist to keep their creations secure through an online platform. This fintech development makes use of blockchain technology, which has totally revolutionised online security and paved the way for numerous other fintech fims.
Ascribe also allows artists to share their digital content and gain visibility online. On top of this, it also allows them to license their work whilst providing a certificate of authenticity. Ultimately, this means that artists can, with confidence, claim undisputable ownership of their work, as there is a direct link back to them through this secure online platform.
This online platform has allowed banks and other institutions to improve their services. Through Mambu, they can create, launch and service deposit and loan products quickly and effectively. Making use of cloud technology, this innovative fintech development provides an alternative to costlier core banking systems and custom in-house solutions.
This will undoubtedly serve to change the game when it comes to banking, as it allows institutions to digitalise their service and launch it far quicker compared to traditional means. In this sense, it is likely that developments like Mambu will be the basis for further fintech developments in the field of banking, and ultimately revolutionise the way people interact with banking services.
These are just a few of the many fintech developments of late, and if one thing is for certain, it is that there will be many more to come in the near future. With the ability to revolutionise services and benefit both businesses and consumers alike, fintech is undoubtedly an essential consideration for any business of the modern age.