Fintech is technology that is integrated to the systems and processes used in delivering financial services. Many things are happening in the world of Fintech ranging from Roboadvisors, investment apps, payments, personal finance apps, P2P lending, crypto apps and many more.  Blockchain based apps have already penetrated the Fintech space. Fintech is interesting because the new technology works towards enhancing automating.

Fintech and Digital Wealth Management

The tech in the Fintech is because these companies offering financial services make use of internet, cloud services, mobile devices, and software technology to connect with financial services and use them. Finance and Technology are mixed together and therefore Fintech.  Being able to digitally access, manage and gain insights into one’s finances makes Fintech desirable – considering the easy of use and the reliability.

Some of the commonly known Fintech are Amazon Fintech Labs, PayPal Holdings,

Fintech Apps

The core technology in most FinTech is blockchain. There are lot of Fintech Apps in existence. Most of the Fintech apps display ads in the app for the source of revenue.  There are third party app networks which pay the app owners to run their Ads.  In app purchases are a source of revenue. There are several Fintech apps with prosperous verticals.  Knowing the target audience and the problem it solves facilitates the use case.

Cryptocurrency and Fintech

Cryptocurrencies are a unique kind of Fintech play a very important role in helping Fintech reduce the prevalence of fraud. An average banking customer does not understand the cryptocurrency, except for the early adopters and those who have an understanding of the crypto market. Cryptocurrencies have unlocked a big world of fintech markets.

Crypto is powerful because it makes money transfer very efficient, and it plays a very important role in reducing the prevalence of fraud. Fintech innovation is all set to unlock new markets while supporting convenience and efficiency in the different product offerings.

Fintech solutions like DeFi appear as an appealing alternative to traditional products.

DeFi and Fintech

Experimental risk takers have been hunting for their fortune investing in DeFi.  The DeFi space is slowly evolving, and it has already gathered interest from seasoned investors. The onset of crypto winter has stunned the growth of DeFi space.  This is the time where Fintech is evolving.  This is not the time for investors to walk away from cryptocurrency or DeFi.  It is worth watching this space very closely.

The global financial system will not want to avoid the idea of crypto because ultimately integrating cryptocurrency into the global financial system will become important to take it mainstream.