FinTech at Your Fingertips

By CIOReview | Friday, June 14, 2019

FREMONT, CA: The world of FinTech has come up with a few prominent apps that can help the industry to explore different means of financial services and resolve the issues faced in the meantime. FinTech has deployed two varieties of applications where the first deals with the financial services based on the B2B model, and the latter unravel the complex tasks using the B2C model.

The development of FinTech services permitted the users to withdraw their bank visits to get money and made it easy to attain financial services for the business at fingertips.

Spreading Ideas: With the use of crowdsourcing, people can share their ideas and innovations along with investing in any scheme through the internet from any distant place without relying on the traditional way of giving presentations to the investor.

Sending Funds Without Spending it: The process of transferring funds had depended on the banks in the past—a very time-consuming method. In the present era, Fintech has introduced several applications that run on mobiles and other electronic gadgets for rescue. The application help in online money transfer by using smartphones and allows exchanging funds at a very lesser price.

Check Out: Top FinTech Companies

Applying for Loans: Credit cards with particular payment limits can be insufficient for a certain buy, causing a need to loan some capital. Mobile and web applications provide such loans, which help in getting the money applied and approved in just 15 minutes and also help the bank to keep track of the candidate’s information.

Chatbots: AI is prevalent in current time, and there are a lot of scopes further to improve the financial processes by using chatbots. They can work out various tasks, like sending notifications regarding any changes. Chatbots enhances user loyalty, which helps in gaining a huge number of profit and customers in the competitive world.

Miscellaneous Advantages:  Websites and applications provide new investors with a segment of advice concerning profitable investments with better variants to devote their funds. Online brokers provide opportunities for trading operations and a FinTech business in this genre needs to have a reputation to gain the client’s reliability. Online insurance is a low-cost model, which is considered as a fair product rate, helps people to apply for insurance claims and get it done online with IoT devices.

Few Top FinTech Companies (Ninth Wave, Pivotus, Revation Systems)