Can Fintech-as-a-Service be a Singular Solution?
Fintech is on a spin ever since this year's budget announcements. Even so, the past few years have witnessed developments in financial technology solutions are increasingly looking to new, tech start-ups to advance their own business functionality, including innovation in mobile payments, digital currencies, distributed ledger technology, wealth management and insurance products and marketplace lending. However, the majority of consumers and businesses have been using financial services that are walled off from each other, with their own payment methods and commerce services. The most powerful methods to managing costs and minimising risks associated with payment processing.
Growth of Fintech in India is driven by various macroeconomic factors. Significantly, fintech is changing costumers’ experience and expectations by promoting a more client-centric and interactive approach to financial and banking services. The fintech innovation has arisen outside the financial which has largely driven by non-bank entities, including venture capital backed fintech startups and emerging companies, as well as non-traditional providers. These non-bank entities can experiment in an unregulated environment and often focus their operations narrowly on the provision of a particular set of new financial and banking services. More so, Developers have access to several automated tools and technological, resulting in a significantly increased turnaround time in the creation of apps, enhancing the customer experience.
The overall financial services market is witnessing a major transition leveraging new and cutting-edge technologies, such as block chain, AI, ML, and cloud infrastructure. A key advantage of a self built platform is as fintech’s of all sizes begin building an application tailored to a certain number of users over time, as the company begins to expand and attract more users, it allows real time updates to serve the growing customer base and improving internet access and smart phone penetration, and a rapidly evolving e-commerce marketplace. Do let us know what you think.
Growth of Fintech in India is driven by various macroeconomic factors. Significantly, fintech is changing costumers’ experience and expectations by promoting a more client-centric and interactive approach to financial and banking services. The fintech innovation has arisen outside the financial which has largely driven by non-bank entities, including venture capital backed fintech startups and emerging companies, as well as non-traditional providers. These non-bank entities can experiment in an unregulated environment and often focus their operations narrowly on the provision of a particular set of new financial and banking services. More so, Developers have access to several automated tools and technological, resulting in a significantly increased turnaround time in the creation of apps, enhancing the customer experience.
The overall financial services market is witnessing a major transition leveraging new and cutting-edge technologies, such as block chain, AI, ML, and cloud infrastructure. A key advantage of a self built platform is as fintech’s of all sizes begin building an application tailored to a certain number of users over time, as the company begins to expand and attract more users, it allows real time updates to serve the growing customer base and improving internet access and smart phone penetration, and a rapidly evolving e-commerce marketplace. Do let us know what you think.
