alanya escort manavgat escort fethiye escort kemer escort didim escort çanakkale escort Aydın escort muğla escort tekirdağ escort manisa escort balıkesir escort trabzon escort elazığ escort ordu escort kütahya escort ısparta escort rize escort maraş escort yalova escort giresun escort yozgat escort tokat escort şanlıurfa escort sivas escort batman escort erzurum escort sinop escort kırşehir escort karaman escort kırıkkale escort bolu escort amasya escort niğde escort uşak escort edirne escort çorum escort osmaniye escort zonguldak escort van escort erzincan escort Hatay escort Aydın escort İzmir escort Ankara escort Antalya escort Bursa escort İstanbul escort Kocaeli escort Konya escort Mardin escort Mersin escort Samsun escort Sinop escort Tekirdağ escort Rize escort Amasya escort Balıkesir escort Çanakkale escort Bolu escort Erzincan escort Şırnak escort Adana escort Van escort Yozgat escort Zonguldak escort Afyon escort Adıyaman escort Bilecik escort Aksaray escort Ağrı escort Bitlis escort Siirt escort Denizli escort Burdur escort Diyarbakır escort Edirne escort Düzce escort Erzurum escort Kırklareli escort Gaziantep escort Giresun escort Kilis escort Kars escort Karabük escort Kırıkkale escort Kayseri escort Kırşehir escort Malatya escort Maraş escort Manisa escort Muş escort Muğla escort Kastamonu escort Ordu escort Nevşehir escort Sakarya escort Osmaniye escort Şanlıurfa escort Sivas escort Trabzon escort Tokat escort Ardahan escort Bartın escort Karaman escort Batman escort Bayburt escort Bingöl escort Elazığ escort Gümüşhane escort Hakkari escort Eskişehir escort Isparta escort Yalova escort Uşak escort Iğdır escort Ankara escort Bursa escort Antalya escort Kocaeli escort İzmir escort Konya escort Diyarbakır escort Samsun escort Mersin escort Hatay escort Malatya escort Muğla escort Tekirdağ escort Kütahya escort Aydın escort Manisa escort Trabzon escort Balıkesir escort Afyon escort Sivas escortÇanakkale escort Isparta escort Yalova escort Giresun escort Kahramanmaraş escort Şanlıurfa escort Ordu escortTokat escort Yozgat escort Çorum escort Erzurum escort Elazığ escort Aksaray escort Kastamonu escort Kırklareli escort Rize escort Kırıkkale escort Burdur escort Karabük escort Kırşehir escort Bilecik escort Niğde escort Amasya escortUşak escort Edirne escort Sinop escort Düzce escort Erzincan escort Karaman escort Osmaniye escortadana escort ankara escort antalya escort balikesir escort sakarya escort bodrum escort bursa escort denizli escort eskisehir escort gaziantep escort hatay escort izmir escort izmit escort kocaeli escort konya escort manisa escort mersin escort samsun escort samsun escort sanliurfa escort tekirdag escort adana escort adiyaman escort afyon escort agri escort aksaray escort amasya escort ankara escort ardahan escort artvin escort aydin escort balikesir escort bartin escort batman escort bayburt escort bilecik escort bingol escort bitlis escort bolu escort burdur escort bursa escort canakkale escort cankiri escort corum escort denizli escort diyarbakir escort duzce escort edirne escort elazig escort erzincan escort erzurum escort eskisehir escort gaziantep escort giresun escort gumushane escort hakkari escort hatay escort igdir escort isparta escort istanbul escort izmir escort izmit escort kahramanmaras escort karabuk escort karaman escort kars escort kastamonu escort kayseri escort kibris escort kilis escort kirikkale escort kirklareli escort kirsehir escort kocaeli escort konya escort kutahya escort malatya escort manisa escort mardin escort mersin escort mugla escort mus escort nevsehir escort nigde escort ordu escort osmaniye escort rize escort sakarya escort samsun escort sanliurfa escort sinop escort sivas escort tekirdag escort tokat escort trabzon escort usak escort van escort yalova escort yozgat escort zonguldak escort
Transforming Finance

The world has entered an age where technology has a bite in everything. The way that it is transforming finance is through what is called Fintech (financial technology). This is defined by Investopedia as being a new technology that is used to improve financial services, as well as automate them to improve response time, clarity, and transparency. There are five major areas that are impacted the most, with many others close behind.

  1. Shopping-People around the world prefer to shop from the comforts of their own homes. Fintech has made this possible by integrating financial transactions through secure platforms, such as PayPal. You can order anything that you could ever want, from a local vendor, or one that is halfway across the globe. You do not ever have to worry about the differences in money from country to nation because the software will automatically convert it to the area that you are logged in from. Or more accurately, where your IP address is listed. So, if you live in Australia and you wish to order something from China, your ordering site will convert the cost of the item to Australian dollars.
  2. Investing-Putting your money into stocks or bonds is so easy now that anyone can do it. It does not matter how educated you are on the markets. Companies have popped up across the internet that will take your money and invest it in the areas that are deemed to be the best fit for you. You can choose to invest lightly, or risk it all. The company that you choose to use will automatically invest the amounts that you want, in the way that you want. The days of stockbrokers yelling across a packed floor are long gone. You have complete control over your portfolios by using live feeds to monitor your money. You can add money to an investment if you want or sell if it looks like your choice is at the top of its profits. If you are not sure what you are doing, the sites that you invest through can teach you everything from the basics to hardcore investing. The choice is yours. The power is in your fingertips.
  3. Banking-Personal banking is no longer done in person by most people. Why would they? There are applications for your mobile device that allow you to bank, with most of the banks around the world. If you prefer to use a computer or laptop, you can go directly to their site and bank online. Mobile banking has increased to 1.9 billion individuals, and is projected to reach 2.5 billion by 2024, according to Statista. Transfers, deposits, withdrawals, and even loans can be started, and completed, with the click of some buttons, or a few swipes on your mobile device. Business loans are a breeze to apply for and can be deposited into your account within a short few days.
  4. Accounting-Accounting used to be an all-day process that required a person that had a degree, and lots of knowledge. Someone that had to constantly be trained in new laws and regulations to keep their company, or clients, out of legal trouble. Fintech makes it possible to keep your own books, file your own taxes, cut checks for payroll and accounts payable, and receive money for receivable accounts. Software integrates everything into one small program that you can learn to use through a class online or a booklet that you can read. The program does all the work for you. All you must do is plug numbers into it.
  5. Behavioral Statistics-Companies can use fintech to adjust how they do business. Behavioral statistics track the buying trends of consumers, projects what will sell in the future, and shows items that should be deleted from your inventory. The software can track and make decisions on enormous amounts of items within a split second. Much more than you could ever hope to do. The final decision will still be left up to you, but the information you need to make an informed decision will be laid out in front of you.

These are the top five ways that fintech is transforming the financial industry, but there are many more benefits that can be found. This technology will continue to grow and spread out throughout the world. Security and ease of use will be perfected, and you will be able to do everything from the comforts of your own home, from business or personal transactions to running your own company.

Leave a Reply