Question

FinTech is any technology that eliminates or reduces the costs of financial intermediation. Please discuss the impact of FinTech on your career and investment in the future. You can choose any topic or area in FinTech to discuss.

Answer 1

Financial technology is the decentralization of financial services that could create an ecosystem where banks and companies can work more elaborately in in sharing resources and keeping the base of the globalisation. They can even replace the banking sector because there are no third party interventions.

The impact of FinTech on carrer are as follows-

1. Easier payment process-there are easier payment process with the fintech technology asThe FinTech solutions prevent the customers and business owner from going through the cumbersome, time-consuming process of cash based payments.

2. Evaluating risks effectively- Fintech solutions have taken the market by storm by making it easier to predict and overcome risks. It evaluate the specific risk related to different type of investment and thus it helps in protection and analysing of risk more effectively than before.

3. Faster Investment-fintech has resulted into faster processing of investments that has as eliminated the need of hiring a human financial advisor by providing consultation and advice . This has accelerated process as well as provided escape from biased suggestions.using fintech solution banking as well as non banking companies are working in same arena.

4.Lower Cost-one of the specific feature of fintech technology is lower cost because it has reduce the cost By making the financial services available on devices. it has cut down the expenses of the businesses ,along with gaining sophisticated analytics data to better engage their audience.

Fintech technology has huge impact on the career building of young entrepreneurs. one who is looking to build his career in fintech technology must have the appropriate knowledge and the courage to introduce himself to these newest technology in order to success in his projects.