The fintech revolution is neither a fairy tale nor science fiction. It has started changing the shape of the financial across the world. Quick P2P loans using fingertips, payments through cryptocurrency, and virtual financial advisors- all these aspects and many other things have become a reality thanks to fintech development services. These user-friendly aspects and radical changes in the traditional way of transactions can drive the growth for FinTech startups.
The thriving finance world is no bed of roses. Though one of the most heavily regulated and known as a secure industry, several issues like lack of transparency, slow digitization, and lack of real-time ecosystem keep owners of finance companies on their toes. All these issues and several malware attacks like a Trojan horse virus Ramnit have brought up the necessity of technological advancements and an innovative approach.
This innovative technology for the finance sector is known as Fintech or Financial technology. Today, fintech has evolved beyond the BFSI sector to revamp all major industry verticals significantly. Before digging deep into the impact of fintech on various businesses, let’s go through its scope or services it offers for disrupting modern business. Several fintech solutions including Credit Karma, Mint, and Stripe have changed the way of doing business.
Original Source: How Does Fintech Impact Your Business in 2021?
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