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Itu2019s the abbreviation of Financial Technology and is an umbrella term that denotes all companies that use digital technology to provide financial services
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Next Big Thing In The Future Of Finance
The next big thing in finance is fintech, which is to say, how finance and the world of finance grapples with and integrates all of these advances in technology that will impact how individuals save, how they invest, and how they interact with all aspects of their finances :
What Exactly Is FinTech? FinTech is a combination of two familiar words — Finance and Technology. It’s the abbreviation of Financial Technology and is an umbrella term that denotes all companies that use digital technology to provide financial services.
Global investment in FinTech has exploded in the last few years. FinTech is now a multi- billion dollar industry, with massive potentials for growth. The best part — unlike other industries that are dominated by multi-national corporations, FinTech is powered by small start-ups that use innovation and technology to dominate.
Now, importantly, it's not just how financial firms use these [technologies] Keep your eye on how every firm, from Nordstrom to Intel, integrates these into their processes. Keep your ear to the ground and your eyes open on fintech, and that'll give you a good direction on the future of finance
Is it a good idea to place savings in bitcoin to protect it from inflation? No, not a good idea. Inflation moves in basis points, or 1% or 2%, whereas bitcoin moves in much bigger swings over the course of a day or an hour Then, you might want to consider it Look, this is not a podcast about finance, or specifically about finance. It's a podcast more about decision-making and all the errors and wonky decisions that people make and, importantly, how to make these decisions better. In fact, finance - financial markets, asset prices - is just the aggregation of all these biases, mistakes and difficult and complex decisions.
So, the more you understand those, the deeper you're going to understand all financial markets, from bitcoin to Tesla to the value of a dollar Digital Lending Platforms The Popular Types Of FinTech Service Providers For years, traditional banks were the only options for borrowers. This made it highly challenging for borrowers with poor credit scores or no collateral to access funds. Digital lending platforms like Indifi connect borrowers with other non-banking lenders. Online lending covers all borrowing from personal loans to business loans and more.
Robo Advisors These are online investment services that use algorithms to provide consumers with the best investment advice. From handling the actual investments to re- balancing and asset allocation — these services take care of the A-Z of investing
Mobile Payment Providers These are digital wallets that help consumers pay for their purchases without using a credit card or a bank account. All you have to do is load the mobile wallet and use it for all online and even real-world purchases.
Online Banking And Personal Savings Long gone are the days, when banks were the only way to save your money. Today there are an array of FinTech start-ups that provide micro-savings providing consumers with alternative ways to grow their personal savings, without relying on banks.