Crowdfunding is an intriguing concept, allowing any individual or business in the world to raise funding for their project, without having to rely on a select group of financial players. Every individual can become an investor in a company through crowdfunding platforms, which creates an interesting spin on the traditional business model. At the same time, governments around the world have been looking at ways to regulate this concept, and protect consumers from financial harm.
The FinTech sector has been on fire over the course of recent months and it looks like that trend will continue for quite some time. Part of that success can be attributed to the interest of banks in FinTech solutions, as the financial sector is prone to disruption. More investment funds are expected to flow in over the next few month, most of which will be coming from Chinese firms.
When somebody is active in the world of FinTech, at some point in their career, they will start developing a mobile application. Or in some cases, other people will be hired to take care of mobile development, as this is a difficult skill to master. Most of these applications are put in the various mobile app markets at a small or high price, depending on what type of service they offer. It is important to keep in mind that apps need to be discounted now and then to attract more users.
Every now and then, the digital currency ecosystem receives positive marks from unlikely allies. Visa, one of the world’s leading credit card issuers, recently stated how 2015 was a breakthrough year for payments. With transaction volumes growing and new players joining the game, the next few years will be very interesting to say the least. Additionally, the blockchain is no longer a payment tool that can be ignored either.
A lot of people have been wondering as to why blockchain technology suddenly became of such interest to financial institutions around the world. There are several reasons attributing to this status with 2015 having been a year of many success stories. In the end, these stories might lead to the global adoption of Bitcoin as well.
Over the past six years, Bitcoin has seen its fair share of success, although some people might argue how important digital currency has become as of late. The main question companies and service providers should ask themselves is whether or not these disruptive solutions actively address and fix financial services in existence today. In some cases, the answer might be “not yet”.
When it comes to the traditional financial world as we know it, things will have to change sooner rather than later. Keeping up with the growing demand for new technologies and services is not an easy task, yet there are three main identifiers for financial institutions to address. Getting involved in blockchain technology development is not included in the list, as there is no real need to state the obvious.
There are many parallels to be drawn between the worlds of Bitcoin and FinTech. In fact, Bitcoin is its own form of FinTech and there are quite a few things both industries can learn from one another. Finding the perfect bank partner, for example, is a struggle experts in either industry are all too familiar with. There is a silver lining, however, as there are some steps companies can take to smooth the process.
Financial services are popping up all over the world, as various companies try to tackle different issues that need to be addressed. One aspect of FinServ that will always be far more important to consumers than anything else is the option to compare prices. Especially in the United Kingdom, price comparison websites are dominating the search rankings for financial products.