Fintechs are the evolution of financial services, a response to the inefficiency of the traditional banking sector that provides tools to users so that, thanks mainly to the use of the Internet, they can access more agile and inclusive services.
The term fintech comes from the conjunction of the terms financial and technology, which means “financial technology”.
A fintech, therefore, is a company that offers various products and services related to finance, where the use of the Internet, smartphones and even digital currencies is common.
Algunas características de las Fintech son:
- Have a high-risk business model, with a high return on investment.
- Offer customer-focused products.
- Through information technologies, they provide external and internal transparency about their processes and products.
- Offer digital platforms so that your clients can see the information in real time and carry out operations.
- Have a high degree of security so that user data is always protected.
- They are considered as disruptive companies and promoters of change.
Now, what are the main Fintech verticals?
- Financing.
- Payments and transfers.
- Digital currencies.
- Financial management.
- Purchase of Invoices.
- Insurance.
- Collective financing or Crowdfunding.
- Sending of remittances.
- Microcredits.
The main benefits:
- Agility in the provision of services.
- Customer service dedicated to the consumer.
- More inclusive risk approach.
- Low operating costs that translate into benefits for users.
Without a doubt, Fintech is the present and will be the future of financial tools for all types of consumers.