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Archive for the ‘Finance’ Category

The Beginner’s Guide To FinTech In 2017

26 Jul

You may have heard the relatively new term “FinTech” bandied about, but what actually is it? And why is it important for all entrepreneurs to know about and understand?

FinTech stands for Financial Technologies, and in its broadest definition, that’s exactly what it is: technologies used and applied in the financial services sector, chiefly used by financial institutions themselves on the back end of their businesses. But more and more, FinTech is coming to represent technologies that are disrupting traditional financial services, including mobile payments, money transfers, loans, fundraising, and asset management.

Don’t assume that FinTech is simply a fad or buzzword: Accenture recently released a report which found that investment in fintech around the world has increased dramatically from $930 million in 2008 to more than $12 billion by early 2015.

And this is likely only to continue to increase, as FinTech touches not just the financial services sector, but every business the financial services industry deals with (which is to say, all of them). FinTech startups are small and agile, able to disrupt the lumbering behemoths that are traditional financial institutions and innovate quickly — and your business can use that to your advantage.

How FinTech is changing your business

It used to be that if you wanted to start a business, you would go to your local bank to ask for a loan or seek out a traditional investor. If a company wanted to accept credit cards, it would need an account with a big credit provider — not to mention a land line and bulky equipment. But this is no longer the case.

FinTech like crowdfunding, mobile payments, and money transfer services is revolutionizing the way small businesses start up, accept payments, and go global, and they are making it easier than ever to start and run a business.
Fintech India
Fintech Summit mumbai
Can’t find an investor for your big idea? Don’t have the collateral or credit to get approved for a traditional loan? That’s OK: Crowdfunding now means that you can raise money quickly and cheaply from people all over the world that you’ve never met. It has democratized the process of finding startup capital and shortened the timeline from perhaps months of meetings to as little as a few weeks.
Bernard Marr is a best-selling author & keynote speaker on business, technology and big data. His new book is Data Strategy. To read his future posts simply join his network here.
It’s also now easier than ever for small businesses to accept payments. Even farm stands in the middle of nowhere can accept credit and debit cards with tools like Square and PayPal. And while there are fees, the entrepreneur doesn’t have to do a particular volume of business to qualify for an account. Anyone, anywhere can safely and easily accept credit card payments, making it easier to do business.

But what about going global? International money transfers — which have long been a thorny issue for entrepreneurs — are getting easier as well. For smaller transactions, services like PayPal automatically convert currencies, so it’s easy for a customer in America to purchase goods from a maker in the U.K. or anywhere else in the world. Additionally, a service called TransferWise is streamlining international money transfers, disrupting that sector by offering a 90 percent discount on traditional bank transfer fees.

How FinTech is changing your customer

FinTech is also changing customer behavior and expectations at a tremendous rate.

Consumers are now so used to being able to access data and information anywhere and everywhere, that it seems natural to them to want to be able to adjust their investment portfolio or deposit a check while waiting for the bus.

And customers — however fairly or unfairly — expect the same level of service and access from a small firm as a large firm. They expect a seamless mobile experience whether they are banking with a global bank or their local credit union. And they expect to be able to pay with a credit card whether they are in a department store or the corner shop. Soon, people will expect to be able to pay with their phones anywhere they go as well.

It’s a great democratization of services, but also a warning to businesses that there is no excuse these days for not embracing the latest technologies — and those who refuse will certainly be losing business.

Finally, FinTech is just in its nascent stages. The industry is changing rapidly, and savvy business owners will want to stay informed as a vital part of their business plan. Businesses will be able to offer more services at lower cost than ever before, but only if they stay on the cutting edge of what’s available and possible.

Those that do will stay at the forefront of their markets. Those that don’t will lose out on opportunities, customers, and market share.

Fintech Summit 2017 Visit us : Conferences in India

 
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Renowned Financial Analyst Dr. Anders Bally to speak in Mumbai at Financial Analytics Summit

07 Nov

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ab   During his time as a financial analyst and fund manager in Zurich, Switzerland in the 90’s, Dr. Anders Bally had a vision to connect the world and democratize wisdom of the crowd. Like most innovators, he identified the key obstacles in how financial news was used and assimilated, and found a cutting-edge solution. 20 years later, having built a number of companies, Bally received the 2016 Swiss Fintech Award for bringing his vision to life with Sentifi.

Sentifi has become the most recognized name in crowd-based artificial intelligence for financial information in key markets including Europe and Asia. After seeing the emerging power of the financial market in India, Bally is honored to visit Mumbai, India, as the keynote speaker for UNICOM’s first Financial Analytics & Blockchain Summit on Nov. 10 and 11.

“The world we are living in is changing daily, even hourly,” said Bally. “Globally, there are 2.2 billion people connected to social media, sharing their knowledge, opinions and judgments.” In his keynote speech, dubbed “The Financial Information Paradigm Shift,” Bally will explain the transformation — from traditional media to social media — and how the financial community should address and access this information.

In the workshop “Integration of Crowd-Intelligence in Financial Analyses and Investment Decisions” later in the day, Bally will give an insider’s view on different ways to tap into crowd-intelligence and extracts unlimited information to turn into financial insights that can maximize investment strategies.

“It’s my first time in India, and a great honor to be the keynote speaker for UNICOM” said Bally. “I’m looking forward to introducing Sentifi to the country’s financial markets; as well as connecting everyone to the power of our crowd intelligence technology.”

Established in 2010 with headquarters in India and the U.K., UNICOM hosts a variety of events around the world including conferences, contests, webinars, public workshops, certified training courses and networking events. With this summit, UNICOM hopes to address and ignite conversations about the hottest topics and trends in the financial sector, including big data, market perspectives, blockchain, fraud and cybersecurity.