Technology is increasingly present in all types of industries, including those of financial activity. An example of this is the emergence of fintechs, the business model that offers products and services from the financial sector allied to information and communication technology. Fintechs are companies that combine the provision of financial services with processes based entirely on technology. They arise from the union between the financial and technological areas ( financial + technology = fintech ) and are promoting a true revolution in the financial market. The mission of these companies is to innovate, optimize and improve the services of the financial sector. You may be wondering: is it possible for financial services to be carried out without so much bureaucracy and waste of time?
How Did Fintechs Emerge?
Fintechs are the result of two intersecting events. The international financial crisis of 2008, when the traditional north american. Investment bank lehman brothers went bankrupt, and the trend. Towards total automation, an expression of the 4th industrial revolution. Why the real estate agent email lists 2008 crisis? Because after the bankruptcy of the lehman. Brothers bank and the financial aid that the north american government. Had to give it, the public sector of developed countries, in order. To avoid new crises, created a series of regulations for the big banks. Mainly those considered ” too big “. To fail .”Consequently, many sectors of those banks. Became too entangled, such as the bank lending sector, where part of. The fintechs are concentrated. Thus, startups , which are innovative, tech-heavy, low-cost, and much more flexible business models.
What Are the Services Offered by Fintechs?
As the focus of fintechs is on technology, they are less bureaucratic. And although they have fewer products, they have more specificity. Below we present the main areas of activity of these companies, as well as the most promising fintechs in the world in each branch according to the CBInsights classification. Bank account With fintech, the current account of the natural or legal person can be digital, without bureaucracy, with all the resources of a traditional version. This means that, being connected to the Internet, it does not matter if on the CG Leads computer, tablet or cell phone, the user makes all the financial movements he wants. This includes value transfers, account payments, and balance and statement inquiries, among other functions.