Top 5 Trends in The Fintech Industry
The world of Fintech keeps advancing and improving at a pace that is both impressive and astounding making life better each time, telling everyone that we do not have to settle for just an alright technology when it comes to finance, we can always do better. These technological advancements are important to keep track of but sometimes they come by and go so fast making it difficult, here is a list of the top 5 trends in the Fintech industry at the moment.
Cryptocurrency
When cryptocurrency had their major take off with bitcoin in 2009, most of the world was
sceptical about it. Was it just a giant bubble as it was popularly described? While
everyone had their doubts, some people decided to take the chance and invest in it and
overtime, bitcoin along with other cryptocurrencies like Ethereum, Litecoin, ripple and
so on have produced millionaires everywhere. In fact, right now you cannot mention Fintech
without mentioning cryptocurrency, there are now thousands of different cryptocurrencies
springing up in the finance world and we expect to see even more.
Blockchain
Blockchain is the technological process by which cryptocurrency operates, it is a system of
decentralised transactions operating with a public ledger, thereby no transaction made on the
system is secret and no one person or operator has exclusive rights to manipulating a
transaction that has taken place. The diverse application of blockchain to areas like healthcare,
record keeping and real estate has made it a useful and indispensable technology in or hands.
Artificial intelligence
Artificial intelligence is one of the hot trending topics in business news nowadays, the finance
world is buzzing on about its possibilities and how it can go a long way to making handling of
finances easier and faster. Financial exert are exploring how AI can be used to perform operations
like tracking down fraud in seconds with an accuracy that is better than what we have now.
Human Digital interface
Not surprisingly human digital interaction is taking a major space in Fintech, after all it is an era
of screens. people now send more time working over one screen or the other, either their computers or smartphones and want their financial procedures to be as easy as lifting a finger. Nzar field
communication is working at making cards readable by basic devices and implants where people can ditch the card. It will be a matter of time when a person and a screen is all that is needed to perform
financial transactions.
ICOs
Since the success of cryptocurrency, ICOs have become a thing, investors have come to realise that earlier investment in crypto reaps more gains, and as a result try to invest early in new cryptocurrency. ICOs are how cryptocurrency founders can raise funds for their design by an early crowd sale where investors are given benefits that are more than those that invest in later sales. This concept helps to encourage both the designers and the investors Top 5 Trends in The Fintech Industry because it is now easier to start up and easier for investors to be major players in the crypto market.
Fintech is an interesting space to watch for innovations and improvement, someone somewhere is always thinking up newer ideas and making a move bringing trends to Fintech.
