Fin Tech
New technology always rings a few bells. Technology is important for making lives better though. 今天, technology has modernized nearly everything in this world, but the financial sector hasn’t undergone any drastic changes. 但, 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. 这个概念采用了用于此的各种设备的,,en,最有名的是网上支付和银行的技术之一,,en,鳍技术仅用于大型组织，用于处理大型金融业务,,en,但最近这种趋势大转移已经观察,,en,小公司甚至是某一个人创业是使用鳍高科技系统来管理自己的财务状况,,en,这些初创公司正在寻找鳍技术是为他们的业务有很大的投资,,en,不期望这些趋势在所有很快改变,,en,鳍高科技系统包括技术，如在线支付,,en,数字钱包和网上资金转账,,en,什么铺平了鳍高科技的成名路,,en,鳍高科技,,en,信不信由你,,en,是不是这个著名的在它的观念之后的某个时间,,en,只有非常大,,en, 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, multinational companies would use Fin-tech for managing their finances at first. 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. 但, 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, you can find many start-ups that became very successful due to these systems. 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. 但, 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. 这主要是由于这样的事实：在线支付给他们带来了很多的隐私,,en,作为他们的借记卡和信用卡的记录不暴露给卖方,,en,凡使用鳍技术，极大地扩大了另一领域是资金转移的领域,,en,人们往往有紧急安全地转移资金给他人,,en,网上资金转移服务正在成为非常受欢迎，因为它们在这些领域的可靠性,,en,关于实体店什么,,en,但不幸的是,,en,网上交易和其他鳍技术方法的生长砖和迫击炮商店慢得多,,en,它仍然是非常难得一见的小店里，为客户提供网上支付方案,,en, 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, 通过实体店铺的鳍技术服务的低采用率也许可以解释为什么在网上交易的首要原因还没有现在完全主导了金融市场,,en,这方面的一个重要原因可能是采用散热片的高科技系统财务需要一定的硬件事实,,en,软件和专业,,en,这可能是为小企业经济上不可行,,en,但即使是这种情况正在改变，最终为新的进步的技术正在逐步减少为此所需的投资,,en,如何是影响银行业的鳍高科技,,en,该鳍技术正在慢慢取代另一个主要行业是银行业,,en,该鳍科技推出的各种支付和转移方法被证明是一个非常有用的对口传统银行的方法,,en. 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, he or she will have to find a nearby ATM to withdraw the cash and then buy the desired object. 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. 他们是非常安全的，因为它们是数字,,en,并且不能容易被盗,,en,他们使用起来非常方便，由于其统一的汇率,,en,使他们能够使用在世界各地,,en,Cryptocurrencies也使企业可以很容易地进行所有全球各地,,en,像比特币cryptocurrencies的另一个特点是，由于这一事实，他们是数字,,en,他们并不需要昂贵的金属和其他资源，以制造,,en,鳍高科技真的是革命性的业务,,en,贸易,,en,金融乃至金钱的整个概念,,en,在这个世界里，现代化是生存的关键,,en,鳍技术的关键是金融领域的现代化,,en,金融领域一直处于休眠状态的很长一段时间,,en,但现在是改变的时候,,en, and cannot be stolen easily. Also, they are very convenient to use due to their uniform exchange rates, 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. 但, businesses will also have to keep up with times so that they don’t fall behind their competitors.
