Financial Technology (Fintech) Beginners Guide: An Introduction to Fintech
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Fintech is a retrench of Financial Technology. Fintech is a modern era tech that claims to simplify our payment methods, improve and integrate our payment process. Financial technology brings in 2005 and was innovated by Chris Skinner. It took several years to get successful use of this technology. Nowadays it become more famous for some Banking Startups, those are claiming to be beyond banking like Rapipay, Bharatpay, etc also check fintechlearner.com
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Financial Technology (Fintech) Beginners Guide: An Introduction to Fintech
- 1. How financial technology progressed through the years Financial Technology Today The Money Matters Series www.fintechlearner.com
- 2. In this Presentation Here's what we'll cover: FinTech, Defined A brief history of FinTech FinTech segments according to transaction value FinTech and Cybersecurity FinTech: Risks & Rewards FinTech: What's Next? Security best practices of successful FinTech projects www.fintechlearner.com
- 3. FinTech, Defined FinTech are technologies, tools, or platforms that assist and improve financial transactions and services. www.fintechlearner.com
- 4. Without FinTech Banks have singular control over the world's wealth. People have more control and access over their money. Transactions are laborious and time-consuming. Transactions are instant and easy. Tracking transactions are limited and incomplete. All financial transactions can have easy documentation. With FinTech www.fintechlearner.com
- 5. A brief history of FinTech Arner, Douglas. “The Evolution of Fintech: A New Post-Crisis Paradigm? By Douglas W. Arner, Janos Nathan Barberis, Ross P. Buckley :: SSRN.” Social Science Research Network, 1 Oct. 2015, papers.ssrn.com/sol3/papers.cfm? abstract_id=2676553. Accessed 5 Apr 2021. The electric telegraph was introduced for the first time. 1838 Diner's Club released the first universal credit card. 1950 The world was introduced to TradePlus, the online brokerage platform. 1982 The first version of Bitcoin was released. 2009 Google was first launched, followed by Apple Pay in 2014. 2013 www.fintechlearner.com
- 6. Item 1 Item 2 Item 3 Item 4 30 20 10 0 FinTech segments according to transaction value As of January 2021 Digital payments are leading the way followed by personal finance, alternative lending, and alternative financing. www.fintechlearner.com
- 7. FinTech and Cybersecurity Security is paramount when it comes to finances. FinTech tools, platforms, and institutions need to focus on safeguarding their systems against cyber attacks. When it comes to FinTech solutions, people will always prioritize security above other features. www.fintechlearner.com
- 9. Risks in FinTech What to look out for and refine Poor Security FinTech companies are always at high risk against cyber attacks. Poor Literacy Users need to be educated on finances and technology to make the most out of FinTech tools. Poor Adaptability Technologies in FinTech drastically change every year. Institutions that are not quick to adapt will be left behind. www.fintechlearner.com
- 10. Easy tracking FinTech transactions will always have a 'paper trail' which is easy to verify. Ease of completion Through FinTech tools, paying and getting money is instant and hassle-free. Automation People who maximize FinTech can automate financial management, allowing their money to grow without their intervention. Rewards in FinTech How it's impacting commerce in a big way. www.fintechlearner.com
- 11. FinTech: What's Next? Emerging technologies today will be everyday tools in the future. Technology like blockchain and NFTs will be even more refined, impacting financial transactions in the future. More tools to improve ease of access to money and credit will make transactions even more instant than they are now. www.fintechlearner.com
- 12. Technology has revolutionized personal finance, giving individuals more ease and control over their money. www.fintechlearner.com
- 13. Security best practices of successful FinTech projects 1 2 3 4 Next-level data protection and encryption Secure code and architecture Secure authentication Good mobile encryption Compliance 5 www.fintechlearner.com
- 14. "The advance of technology is based on making it fit in so that you don't really even notice it, so it's part of everyday life.” Bill Gates www.fintechlearner.com
- 15. Do you have any questions? Send it to us! We hope you learned something new. www.fintechlearner.com