FinTech Leaving its Digital Footprints in Post-COVID World – Guide to Financial Technology

by Soren on Sep 16, 2022 Leasing 81 Views


COVID-19 has been an unanticipated driver for worldwide technology adoption.

Since this natural downfall, we have advanced five years in consumer and commercial digital adoption in less than eight weeks. Internet activity and transactions have surpassed the point of convenience and have become a requirement.

As consumers become accustomed to a digital lifestyle, they will demand the same level of ease and seamless experience in other spheres of life, especially financial solutions as part of their first necessity. Not to mention, people prefer online banking more than ever before; not because it avoids the crowd for them but the easiness it brings with just a fingertip!

You May Read: Best Tradable Currencies for Import/Export Business

The result very well showcases the power of financial technology in this post COVID world. In fact, it combines cutting-edge advancements and applications driven by financial solutions enabling firms – particularly start-ups – to disrupt a sector that was formerly controlled and therefore deliver better services to consumers and businesses alike.

However, the impression of FinTech has been remarked on a variety of industries, notably banking, insurance, and investing. Additionally, it possesses an unmatched ability to expand financial inclusion, enhance people’s daily lives, and stimulate growth.

You May Read: Content Creation Ideas

According to research, fintech produces billions of dollars in annual income and is anticipated to increase in size by 2030. Not to mention again, Fintech’s arrival has led the banking sector to swiftly adapt to the shifting landscape brought about by fintech advances.

This is obvious in the fact that older, recognized organisations are being forced to find innovative methods to do business in order to avoid being left behind.

For a clearer picture, let’s spin from the start. In this post, we’ll examine financial technology in further detail.

Table of Content:

Define: FinTech (Finance+Technology)

Fintech is a combination of the phrases “Finance” and “Technology.” It refers to any firm that leverages technology to improve or improve financial services and procedures.

The phrase refers to a fast-developing sector that benefits both consumers and companies in a variety of ways. Fintech applications range from mobile banking and insurance to cryptocurrency and investing apps.

Fintech encompasses, or better yet, characterises, any firm that provides financial services via the use of software or other technologies.

The bulk of fintech solutions are meant to be simple to use by integrating the consumer’s money with technology. It has partnered with various applications, totally changing consumer access to financial services.

Fintech disruptors range from insurance and investment firms to mobile payment applications such as Paytm and PayPal. They represent a threat to traditional banking institutions.

Financial technology encompasses a multitude of consumer-oriented applications, and the tools enabled by this technology are transforming how people access, manage, track, and facilitate their finances.

You May Read: The Most Popular Strategies for Trading

Benefits of Fintech

Fintech applications provide a slew of significant gains for the business-to-business sector. While some fintech software targets consumers directly (personal financial apps, for example), the overwhelming majority of software solutions are B2B.

1. Cut Down on Expenses

Businesses may always profit from more automation. By implementing regulatory technology solutions, banks stand to save billions of dollars every year.

Along with decreasing the number of employees necessary to do tasks that may be outsourced, the insights provided by fintech apps can help businesses optimise their operations and boost operational efficiency.

2. Boost Decision-Making Ability

This is one area where fintech may be extremely useful to organisations, particularly with the increasing usage of artificial intelligence in solutions. Businesses may now shape their strategies with the assistance of AI-powered, data-driven insights. Armed with this information, businesses may make more educated judgments about where to allocate resources and how to target prospects.

3. Increase the Level of Transparency

Transparency is one of the most significant benefits of fintech, particularly blockchain-based financial technology and AI-powered regtech for the banking industry. Fintech initiatives create auditable financial records and can aid in spotting potentially fraudulent actions more quickly and easily than a human can.

These initiatives’ transparency contributes to the growth of the industry’s anti-money laundering (AML) and know your customer (KYC) elements.

The Significance of FinTech Industry

FinTech’s rise is largely due to the possibility it provides for small companies to compete on an equal footing with established banks and financial institutions. It is no longer about who is the largest, but who is the quickest and most responsive in efficiently meeting ever-changing customer expectations, thanks to FinTech.

Additionally, FinTech businesses’ solutions are no longer “one-size-fits-all.” Rather than that, they provide focused – and frequently niche – financial services that address a specific financial need, typically at far lower rates than those supplied by traditional financial providers.

As customers grow more knowledgeable and connected, the FinTech businesses that succeed will be those that continue to innovate and provide new answers to old issues.

FinTech Use Cases/Examples

While the industry evokes ideas of startups and game-changing technology, conventional businesses and banks are continually integrating fintech services into their operations. Here’s a short look at how the industry is disrupting and improving some sectors of finance.

1. Banking

Mobile banking accounts for a significant portion of the fintech sector. Consumers have increasingly expected easy digital access to their bank accounts, particularly via a mobile device, in the realm of personal finance. The majority of large banks now provide some form of mobile banking, owing to the growth of digital-first banks, or “neobanks.”

Neobanks are basically banks without physical branches, providing checking, savings, payment, and loan services to consumers via a totally mobile and digital infrastructure. Neobanks include Chime, Simple, and Varo.

2. Blockchain & Cryptocurrency

Parallel to fintech development is the emergence of cryptocurrencies and blockchain. Blockchain is the technology that enables cryptocurrency mining and markets to exist, and both blockchain and fintech are responsible for developments in cryptocurrency technology.

While blockchain and cryptocurrency are distinct technologies that fall outside the domain of fintech, both are theoretically required to develop practical applications that advance fintech. Gemini, Spring Labs, and Circle are three significant blockchain firms to be aware of, while Coinbase and SALT are examples of cryptocurrency-focused companies.

3. Savings & Investment

Fintech has resulted in a recent surge in the number of investment and savings applications. More than ever, firms like Robinhood, Stash, and Acorns are lowering the obstacles to investing.

While the approaches of these applications vary, each introduces customers to the markets through a mixture of savings and automatic small-dollar investment strategies, such as immediate round-up contributions on purchases.

4. Trading & Machine Learning

Predicting market direction is the Holy Grail of economics. With tens of billions at stake, it’s unsurprising that machine learning has grown in importance in fintech.

The strength of this subset of artificial intelligence is in its ability to process huge amounts of data through algorithms that identify trends and risks, enabling consumers, businesses, banks, and other organisations to make more informed decisions about funding and purchasing risks earlier in the process.

5. Payments

Fintech is extremely adept at money transfer. The phrase “I’ll Venmo you” has replaced the phrase “I’ll pay you later.” Naturally, Venmo is a preferred mobile payment platform. Payment service providers have altered the way we all do business.

It’s now simpler than ever before to transfer cash digitally to any destination on the planet. Along with Venmo, other well-known payment providers include Zelle, Paypal, Stripe, and Square.

6. Lending

Additionally, fintech is transforming credit by automating risk assessment, expediting approval processes, and simplifying access. Billions of people worldwide may now apply for loans using their mobile devices, and new data points and risk modelling skills are enabling lenders to provide credit to previously underserved communities.

Additionally, customers may obtain credit reports many times a year without affecting their credit score, which makes the lending industry’s whole backend more visible for everyone. Notable credit firms include Tala, Petal, and Credit Karma.


FinTech is allowing people to take control of their financial life, resulting in unprecedented levels of financial knowledge. It is dismantling outdated silos and advancing customers’ financial situations and outcomes via the use of sophisticated technologies.

As more specific concerns emerge during the economic crisis, these businesses and their investors will have something tangible to work on.

As funding shifts to assist them as they expand, startups with strong business models will become successful and secure a place alongside the industry’s established giants.

To summarise, as Fintech firms evolve to remain relevant, it will benefit customers, and we can anticipate Fintech becoming a more important part of our financial life in the future.

Article source:

As consumers become accustomed to a digital lifestyle, they will demand the same level of ease and seamless experience in other spheres of life, especially financial solutions as part of their first necessity. Not to mention, people prefer online banking more than ever before; not because it avoids the crowd for them but the easiness it brings with just a fingertip!


No comments have been left here yet. Be the first who will do it.

captchaPlease input letters you see on the image.
Click on image to redraw.



Overall Rating:


Members: 8553
Articles: 44,121
Categories: 202
Active Users: 90086
Members: 1561
Guests: 88525
Bots: 868753
Visits last 24h (live): 850
Visits last 24h (bots): 11859
412 Houses, 925silvershine silver shine, aadviksmith, Manish Dubey, aaroncash, abdul halim, Vince Bucciachio, ABT Modern, Acacia Depot, Acquara Management Consultant, Jessica Jackson, Adam Taub, Administrator, Aeroflies, Paulo Pinho, Ahsan Fahad, Ailen, AinurPOS, airconprossg, Aircon, Jackson Manson, Airtravelmarts, Aiza Graves, Ajita Khatri, Alfred Marshal, Albert Shaw, alexandercash, Alexander Martin, Alex Brown, Alex Das, All Day Pest Control, All Star Carpet and Tiles of the Treasure Coast In, Alternative Number, Donna Lyn, Alyssa Healy, Alzbeta Berka , Ambika Gupta, Amigoways Technologies Pvt Ltd, Amir Malik, AMpuesto India, Anaya Khan, Andaman Tour Travel Package, Angela Callahan, Dr. Mukesh Kumar, Animals Name, Anmol Rawat, Anna Lazarus, mary allen, ascentbpo, Midhulaj TK, Aqua Solar Cleaners, Adam Rose, Areeka Event Rentals Dubai, Aris Detectives, Arissoft, Greg Snyder, Tim Wood, Assert AI, Aswain Medha, T P, Laila Oliver, Avenue Realty, Avneet Ahuja, ayan smith, Baker Johnny, tamanna khatri, James Barn, Bemunchie Online, bhavesh jacob, Maulik Shah, Blockchain Network Platform & System, Bolton Escorts Agency, Jane Booker, Booster Fuels, Brand X Huaraches, Brentconroy, Bryan Cranston, New Home Builders Christchurch, Burnley Escorts Agency, Rohan Kumar, John Cooper, calson brown, Camosa Home, canadianequity loans, random credit card numbers generator, Central Biohub, Andrew Charles, YUAN, Chetana Mehra, China Orthodontic Lab, Cillian Gallian, Clarence Godin, Helen Clark , Coats Group, Compare Card Processing Ltd, Willie Tomlinson, continuum innovations, CoreenSpech, Cory Dingle, CPR Certification Lubbock, CPTDog, Crewe Escorts Agency, Certified Translation Dallas, Curl Glow, Curtain and Blinds Abu Dhabi, Cybernetik Technologies Pvt. Ltd., Dark, darshika sinha, David Smith, davidmark11, Michael Jaikishan, Deft Demo, Charlie Wellish, Deonne le Roux Jewellers, Dessert Cups, Devid Won , Jeawin Huang, Evan, Dharma Homoeopathy, Dimpal yadav, Diversified Transportation Services, Dr. Stavros Economou, Nitesh Prasad, DXFforCNC, Jonathan Zhang, Finn smith, Ehsan Ali, Henry Smith, Zivah ElectriVa Private Limited, Eliana Medina, Elija Miller, Elizabeth Jimenez, Eliza Parker, ellyse perry, lowes emily, Emma Jackob, Emma Taylor, Emma Watson, Envy Aesthetics, TK WANG, Merwin, Extractohol, Factory Direct Hot Tub, fake name generator, faraz pathan, Henry Wilson, Fares Jungle, fast paydayu, fatima Furniture, 1-300 FIND LEAK, First Editing, floatingsolar, Floor Way, Floreat Acupuncture, Taylor Smith, Fly Inate, flyingrules, Frost James, Fsh furniture, Marina Dumppy, Full Body Checkup, Gauri, gb whatsapp, genericbucket pharma, Garfinkle Orthodontics, Ashiq H Ghauri, chuckverbens, Global Pr Connect, Grow, Donnell Dean, gracialewis, Grandmaster, Susan Grey, Gujarat Tours,, Harry Johnson, Harry Richardson, Hazel Middleton, HCF Creative Force, Jignesh Jariwala, Healthcare News, Helen Ruth, Hemant Kumar, Henry clark, charles hensen hensen, Ben Carey, Donald Bradman, Hina Bukhari, Homemade Tiffin Service, Homemade Tiffin Surrey, Home Security Systems and Wireless Alarms, Huimintex, Hydraulic Cylinder Repair, ias score, MaryBloombergs, Vania Vrondi, Imperion Infomedia, Rahul Jaiswal, Industry Analysis, informative blog, inpoi lorean, ishepke, Ishita Juneja, Sonia khan, jacobj, james mcgill, James Clerk, jamesmary, James, Jane Grant, Ronojit Haldar, jemespetrick, xunjia, Salvador Medina, Johan Liebert, John Alison, john devid, Johnson Piter, John Stewart, John watson, Joseph Luce, Josh matthews, JoyceAmaro, Joy Gomez, Julia Mayers, Dave Kocemba, Jessica Williams, Jyoti Vedi, Dan Mars, Karan Deep, kedalaj469, Kenny Smith, Keron Rowskey, kecin, john williams, Kingsley Rose, klarhell, Kokusai Express Moving, komalkokate, Lancashire Escorts Agency, Taylor Falk, chase.Liu, larry usa, Leadtek LCD, leah li, Mark Palsan, LeonAmusement, Leo Noah, lifeasible, Vera Ding, lily coliins, Lily Wilson, Limo Comforts , Linda Ambar, Loans Profit, LolaMillsNX, lookfly fares, looksharpinspectio, Lookup Quotes, Loopys Towels, laura lorde, Lorenz Omorel, Louie Laughlin, Chris Lucero, Lucy Brudo, Ly082801, Lycos Ceramic, lyfechemist, Lee, Tanja Filipovska, mageefy, Mahira Digital, Making Milestones, Marcel, Dennis Maria, MyBagClub, Mark Charlie, Mark Donnigan, Eric Martin, kundan, Mark Liu, martech cubejohn, Martinez Gracia, Matt Easterlin, matthew brain, matthew paulson, Mbbsinblog, Me&B Pty Ltd, Perth Medical Imaging, Medify Air, MedzBuddy, keagandaniel, mesigew, John Messy, m gupta, Miami Movers for Less, Midway Dental Lab, mifitness, minajasminej, Mitali Pingale, mmowts, Mobulous Technologies, Maniraj Rathore, Morgan Margolis, morrisonkleeman, Movers Guide, Muskan Digital, myfareshub, Sadaf Khan, Joy Andella , N7-The Nitrogen Platform , Nakita Friedel, Nalin Shah, nam dosan, narmadhalatha, National Stainless Steel Centre, Neena, Mate Henery, Arif Wibowo, nicholas davidolsan, Nikolette Sakelaris, Jermaine Trotman, Nithin , khader, njreliablecoatings, Noida Packers And Movers, Novanative, Robert Fleming, Nueva Cash, nuydodemlu, Ocala Roofing Contractor, Gagan Dang, office24by7seo1, Online Class Cheat Reviews, richard, Org Konnect, Santi Lian, Lyle Be, Pamela Mitzzwah, Panchmukhi Air & Train Ambulance , Panchmukhi Train Ambulance Services, Panjab Tiffin Service, Parent super visa, Pats Marketing, payal mishra, Lauren Smith, Sarah Ferguson , Pest Control Services, Physics byfiziks, PiXL Player, Piya Banerjee, Pooja Dhahiya, powerhemx delhi, Power Graphics Digital Imaging, Inc., Price Vision, Prince Johnson, Belinda Rahme Barakat, Belinda Rahme Barakat, profacgen, Dinesh Kumar, questo pedia, John Robinson, radhikawalia, Rahul Gautam, Rahul Raw, raloxifenefor sale, Raman Kumar, ran viv, REDVision Global, REDVision Computer Technologies Pvt. Ltd, Rehab Center, Ricardo Rios, nancy, Rheum To Grow TX, lorean, Riza ries, RN Valves & Faucets, Robert Mejia, Rochdale Escorts Agency, Ronymeran, Rose Kim, Roshani Kumari, Property Preservation Processor , Run Tang, ruthriordan, Harryli, sachin sadgir, sahil saini, Lucknow Escorts, Pooja Salve, Sam Cook, sanya roy, Becky Joseph, Becky Joseph, Sdreatech Private Limited, Sejal verma, Andy, Daniel Jacob, Sgaircon, Shalby Hospital, shanemason, Shivraj Sakhare, shraddhas, Nur islam, Simran Kashyap, Rahul Singh, Slides IQ, Smartspace Architects, Smith Mendes, Scalp Masters Atlanta, Snap Car Cash, Snushus, Snushuseu, Matteo Crissiri, Softpulse Infotech, Ronnie Slade, Ronnie Slade, Soma Shop Online, Mildred Hinrichs, Sonshine Fitness, LLC, Soren, Stanley Robert, Stephen Hendel, Stephen Mundo, SunCurrent, Super P Force, Tadarise Pro 20 Mg, alexander, Talent Battle, Talkliveperson, Tanzeel Obaid, Taprummy, alicelee, Anvi Jadon, TechPlek Technologies, temp mail, Thekedaar Ji, Theodore Evans, The Service Bazaar, Andrew Wilson, Thomas Schmitt, Thousense Lite, Melbourne Timber Suppliers, Richard Simon, tom maison, Paulo Pinho, Power Graphics Digital Imaging, Inc, Transparent International Movers, Joe Smutts, Travomonk, Tridev Air Ambulance, trimbakeshwar Org, Tuxedo Dental Group, Tx Bernedoodles, Upholstery Services Dubai, valenciaruben, Varsha Rainwear, Veative Labs, Vedanta Air Ambulance, Vega Equity, Ritu Singh, Evgenii Turushev, Victoria jacket, Charis Charalampous, Sehaj Chawla, Vih Flex, Vikas Chauhan, virtus offers, ViTutors, Vootfly Travel Agent, Wallaby Goods, Walter Smith, waterfun, Wealth Elite, West Point Aesthetics Center, William Kelley, Will Smith, Witlingo, world777, Wound Care Surgeons, WPWhiteBoard, Niveditha Jain, WTE Infra, Xchat Lines, Yash Goyal, yoona kim, Youth Destination, Lillian

Latest Comments

Hello, an amazing Information dude. Thanks for sharing this nice information with us.<a href="">magnesium thixomolding</a>...
I'm usually a person who works during the day, I like to watch TV in the evenings, various movies and programs interest me, it also makes me happy to play the latest online games, I usually choose...
Rotten trees should be cut down in my opinion because such trees pose a danger of toppling over people, I am a supporter of eliminating such dangers, I am someone who spends time at home,...
The acrylonitrile market is a sector of the chemical industry that deals with the production, supply, and demand of acrylonitrile, which is a key chemical used in the manufacturing of various...
on May 16, 2023 about Acrylonitrile Market
The acrylonitrile market  melon playground is a sector of the chemical industry that deals with the production, supply, and demand of acrylonitrile, which is a key chemical used in the...
on May 16, 2023 about Acrylonitrile Market

Translate To: