Fin Tech,,en,Ny teknologi ringer alltid noen bjeller,,en,Teknologi er viktig for å gjøre livet bedre selv,,en,Teknologien har modernisert nesten alt i denne verden,,en,men finanssektoren har ikke gjennomgått noen drastiske endringer,,en,nye konsepter for å integrere økonomi med teknologi blir utviklet,,en,den mest kjente av dem er Fin-tech,,en,Dette konseptet blir adoptert av mange store finansinstitusjoner og er raskt økende innflytelse med mennesker,,en,vi vil vite mer om Fin-tech og vet forstå grunnen Fin-tech er blitt så populær blant massene,,en,Hva er Fin-tech,,en,Begrepet “Fin-tech” er faktisk en forkortelse av ordet “Financial Technology”,,en,var ikke dette kjent i og en gang etter unnfangelsen,,en,Bare veldig stor,,en
New technology always rings a few bells. Technology is important for making lives better though. Today, technology has modernized nearly everything in this world, but the financial sector hasn’t undergone any drastic changes. Men, new concepts for integrating finance with technology are being developed, the most famous of them being Fin-tech. This concept is being adopted by many major financial institutions and is quickly gaining leverage with people. In this article, we will know more about Fin-tech and know understand the reason why Fin-tech is becoming so popular amongst the masses.
What is Fin-tech?
The term “Fin-tech” is actually the short form of the word “Financial Technology”. This concept aims to allow the effective integration of information technology and the industry of financing. This concept employs the use of various devices for this, one of the most famous being online payment and banking technologies. Originally, Fin-tech was used only by large organizations for handling large-scale financial operations, but recently a great shift in this trend has been observed. Nowadays, small companies and even certain one-man start-ups are using Fin-tech systems for managing their finances. These start-ups are finding Fin-tech to be a great investment for their business. Also, these trends aren’t expected to change anytime soon at all. Fin-tech systems include technology like online payments, digital wallets and online money transfers.
What paved the way for Fin-tech’s fame?
Fin-tech, believe it or not, wasn’t this famous at and sometime after its conception. Only the very big, multinasjonale selskaper ville bruke Fin-tech for å administrere sine finanser først,,en,Start-ups var skeptisk til denne teknologien,,en,som det var en relativt nyere en, og de ikke hadde råd til å risikere hele sin finansielle systemet for en ny teknologi,,en,som tiden gikk,,en,de begynte å se praktisk bruk av det nye systemet,,en,Det nye systemet også dratt nytte av forbedringene i sosiale medier og reklame teknologi,,en,som gradvis forbedret effektivitet,,en,Et annet vendepunkt for denne teknologien var,,en,Global Financial Crisis,,en,som ga ganske en leksjon til store bedrifter og små alike,,en,Disse faktorene gjorde at industrien i Fin-tech stige for å bli må-ha økonomistyring teknologien i moderne tid,,en,sakte,,en,mange små start-ups begynte å bruke Fin-tech som sin viktigste økonomiske styringssystem,,en. The start-ups were wary of this technology, as it was a relatively newer one and they could not afford to risk their whole financial system for a new technology. Men, as time passed, they began to see the practicality of the new system. The new system also benefitted from the improvements in social media and advertisement technology, which gradually improved its efficiency.
Another turning point for this technology was the 2008 Global Financial Crisis, which gave quite a lesson to big businesses and smaller ones alike. These factors allowed the industry of Fin-tech rise to become the must-have finance management technology of the modern-era. Slowly, many small start-ups began using Fin-tech as their main financial management system. In fact, du kan finne mange start-ups som ble svært vellykket på grunn av disse systemene,,en,Eksempler inkluderer OnDeck,,en,Lending Club,,en,Square og Braintree,,en,Hvordan data utseende og sin analyse,,en,Fin-tech har ikke fortsatt helt fortrengt tradisjonelle debetbetalingsmåter,,en,de fortsatt blir brukt mye, og deres bruk er selv øker,,en,bruken av Fin-tech-basert finans metoder vokser med en enda raskere og dataene viser også at disse systemene kan erstatte tradisjonelle betalingsmåter i de kommende årene,,en,nesten,,en,av personer mellom aldersgruppen,,en,år har brukt Fin-tech systemer som online betaling minst én gang i sitt liv,,en,handle om,,en,Hvis en forbruker å ha et kredittkort ønsker å kjøpe noe fra en butikk,,en. Examples include OnDeck, Lending Club, Square and Braintree.
Fin-tech – How does the data looks and its analysis
Fin-tech hasn’t still completely displaced traditional debit payment methods. In fact, they are still being used extensively and their usage is even increasing. Men, the usage of Fin-tech-based finance methods is growing at an even faster rate and the data also shows that these systems might completely replace traditional payment methods in the coming years. For example, almost 78% of people between the age group of 18-34 years have used Fin-tech systems like online payment at least once in their lives. Also, about 65% of the present adult population has used such systems in their lives. This is mainly due to the fact that online payment gives them a lot of privacy, as their debit and credit records are not exposed to the sellers.
Another field where the use of Fin-tech has expanded greatly is the field of money transfers. Often people have to transfer money urgently and securely to another person. Online money transferring services are becoming very popular due to their reliability in these fields.
What about physical stores?
Unfortunately though, the growth of online transactions and other Fin-tech methods is much slower in brick-and-mortar stores. It is still very rare to see a small shop offering online payment schemes for its customers. In fact, the low-adoption rate of Fin-tech services by physical stores may be a leading cause of why online transaction hasn’t completely dominated the financial market by now. A major cause of this may be the fact that adopting Fin-tech systems for finance requires certain hardware, software and specialists, which might be economically unfeasible for small businesses. But even this is changing eventually as new advancements in technology are gradually reducing the investments required for this.
How is Fin-tech affecting the banking industry?
Another major industry that Fin-tech is slowly replacing is the banking industry. The various payment and transfer methods that Fin-tech is introducing are proving to be a very useful counterpart to traditional banking methods. For example, if a consumer having a credit card wants to buy something from a store, han eller hun blir nødt til å finne en nærliggende minibank for å ta ut penger og så kjøpe det ønskede objektet,,en,Men med Fin-tech metoder,,en,kan man enkelt kjøpe et objekt ved hjelp av en digital lommebok,,en,uten å forlate huset sitt,,en,Digitale lommebøker som PayPal blir økende brukes av allmennheten til å kjøpe i butikker eller sende penger direkte til en annen person lommebok eller konto,,en,de kan brukes for å få andre tjenester også,,en,Kan Fin-tech revolusjonere pengene selv,,en,En av de største og mest innovative virkninger av Fin-tech er oppfinnelsen av cryptocurrencies,,en,Nesten alle vet om cryptocurrencies dag,,en,Cryptocurrencies som Bitcoins revolusjonerer hvordan folk ser på pengene selv,,en,De er veldig sikker som de er digitale,,en,og kan ikke bli stjålet lett,,en. But with Fin-tech methods, one can easily buy an object with the help of a digital wallet, without even leaving their house. Digital wallet providers such as PayPal are being increasing used by the general public to buy in stores or send money directly to another person’s wallet or account. Also, they can be used for getting other services too.
Can Fin-tech revolutionize money itself?
One of the biggest and most innovative impacts of Fin-tech is the invention of cryptocurrencies. Nearly everyone knows about cryptocurrencies nowadays. Cryptocurrencies like bitcoins are revolutionizing how people look at money itself. They are very secure as they are digital, and cannot be stolen easily. Also, de er veldig praktisk å bruke på grunn av deres uniform valutakurser,,en,slik at de kan brukes over hele verden,,en,Cryptocurrencies er også slik at virksomheter skal gjennomføres lett over hele verden,,en,En annen funksjon i cryptocurrencies som Bitcoins er at på grunn av det faktum at de er digitale,,en,de trenger ikke dyre metaller og andre ressurser som skal produseres,,en,Fin-tech er virkelig revolusjonerende virksomhet,,en,trading,,en,finans og selv hele konseptet med penger,,en,I denne verden hvor modernisering er nøkkelen til overlevelse,,en,Fin-tech er nøkkelen til modernisering av økonomiske feltet,,en,Innen finans har vært sovende i en lengre periode,,en,men nå er det på tide å endre,,en,bedrifter vil også nødt til å holde tritt med ganger, slik at de ikke faller bak sine konkurrenter,,en, allowing them to be used all around the world. Cryptocurrencies are also allowing businesses to be conducted easily all around the globe. Another feature of cryptocurrencies like bitcoins is that due to the fact they are digital, they don’t need expensive metals and other resources to be manufactured.
Fin-tech is really revolutionizing business, trading, finance and even the whole concept of money. In this world where modernization is the key to survival, Fin-tech is the key to the modernization of the financial field. The field of finance has been dormant for a long period of time, but now is the time to change. Men, businesses will also have to keep up with times so that they don’t fall behind their competitors.
