FINTECH NOW by Dinis Guarda

FINTECH NOW by Dinis Guarda

The financial industry has always been at the forefront of innovation, from new products + services to developing new markets and harnessing new technologies. Fintech represents its biggest challenges & opportunities.

FINTECH Fintech is a critical word of our times and comes from the connection of the terms “finance” and “technology”.

Every business is now a FinTech Company!

Fintech refers to any innovative business that uses technology to enhance or automate with technology solutions for financial services, money transactions, insurance + related b2b2c processes.

Fintech Now is our society portmanteau of “finance” + “technology”
any person, business, organisation uses some kind of financial tech to enhance or automate financial services + processes.

The term Fintech is a large concept and has been creating a broad and rapidly growing industry serving both consumers, financial providers, organisations and businesses.

the global economy & financial industry from Central Banks, mobile banking, insurance to cryptocurrency + investment platforms - apps,
runs on Fintech broad applications.

The Fintech industry is present in all our lives any business, organisation or government uses some financial technology enabled solution - payment, AML, KYC, API, App, chatbot...

However bearing in mind that the Global market capitalization in 2019 was estimated to be approximately $90 trillion. That means all these numbers are now becoming part of the fintech industry at large

We have to consider a lot of money financial transactions that are using some kind of technology and add to these numbers. Which means the global economy and financial industry is now powered by Fintech solutions.

Technology and related innovations, have to some degree, always been part of the financial world, whether it's the introduction of credit cards in the 1950s or ATMs, electronic trading floors, new ways of personal finance apps and high-frequency trading in the decades that followed.

4IR Frontier technologies, like machine learning/artificial intelligence, blockchain, predictive behavioral analytics, AI chatbots and data-driven analytic tools are taking the guesswork and habit out of financial decisions.

Fintech is solving the Unbanked/underbanked population with services that seek to serve disadvantaged or low-income individuals who are ignored or underserved by mainstream financial services companies.

In parallel with Fintech there's now an entire subset of regulatory technology dubbed "regtech" designed to navigate the complex world of compliance and regulatory issues of fintech.

The automation of processes and digitization of data makes fintech systems vulnerable to attacks from hackers. Recent instances of hacks at credit card companies and banks illustrate the ease with which bad actors can gain access to systems & cause big damage.

Fintech also includes the development and use of crypto-currencies such as bitcoin. While that segment of fintech may see the most headlines, the big money still lies in the traditional global banking industry and its multi-trillion-dollar market capitalization.

Number of Fintech startups worldwide from 2018 to 2020, by region
There were 8,775 Fintech startups in the Americans in February 2020, 7,385 such startups in Europe, the Middle East, and Africa, followed by 4,765 in the Asia Pacific region.

FINTECH NOW FUTURE TRENDS
1. Fintech = society ID, banking - payment - finance services
2. Blockchain and AI become part of all financial operations
3. Financial & personal advisors AI chatbots become norm
4. Major tech players become banking fintech players
5. CBDC Central Banks Digital Currencies becomes norm
6. AI Robo-advisors, traders take over wealth management and stock trading
7. ID Reward financial empowerment transaction models will replace old financial banking models

“In each revolution, we create a brand new way of trading, transacting and storing value — but we don’t get rid of the old ones.
So, 5,000 years ago, we invented money; we still have money.
Three hundred years ago we invented banks; we’ll still have banks. But in this revolution, the digital revolution, seven billion people on this planet can get access to real-time trade.
And that means that there’s a new way of thinking about how we’ll create this Internet of value, and what it’s going to look like longer term.”
Chris Skinner

Finance + Tech Now are 360 in our lives and are about about creating & keeping value - special serving people society customer needs & expectations. Fintech solutions are at the core of our society value money building transaction - organisations.
It is all about serving + creating value!

[howardtiersky]

Fintech’s surely made its way towards society and various organizations this year! Excited to see more of fintech in the upcoming years. Surely, it’s not yet at the stage of perfection as of yet, but maybe around 2025 tops?

[klaa]

I should consider that in my next vids.