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Mobile banking and Neobanks

In traditional banks, consumers have increasingly demanded easy access to their bank accounts on a mobile device. With the rise of digital-first technology, neo-banks are banks without any physical branch locations and be completely mobile and digital 

Cryptocurrency fintech

Crypto trading platforms have emerged in recent years; this type of app allows users to trade different kinds of cryptocurrencies.

Fintech investment and savings

Because fintech exist an explosion in the number of investing and saving apps in recent years like Robin Hood, Stash and Acorns.

Machine learning and trading

It can predict where markets are headed. Considered the Holy Grail of finance, it's no surprise that machine learning has an increasingly important role in fintech. The power of AI in finance lies in its ability to run algorithm data and spot trends and risks for customers and companies.

Fintech Payment

Payment companies have changed the way we all do business, we have easier ways than ever to send money digitally anywhere in the world, so fintech is very good at moving money easier. 

Fintech Lending

Fintech is also overhauling credit by streamlining risk assessment, speeding up approval processes and making access easier, thanks to that billions of people can now apply for a loan on their mobile devices

Insurtech (Insurance Fintech)

While insurtech is quickly becoming its own industry, they obviously fall under the umbrella of fintech, so this industry is a slower adopter of technology and they have as a partner at many fintech startups to help them in the automatization of processes and expand coverage 

Types of Fintech  companies

Fintech

Finance + Technology, Fintech refers to businesses that use tech to enhance financial services. The term encompasses a rapidly growing industry that serves the interests of both consumers and businesses in multiple ways. 

Monobank

Ukrainian neo banking, is one of the top fintech apps in this field because managed to combine main digital banking features with a user-friendly interface, fast payments, easy credits, and bonuses like cashback, and giveaways in the app. Monobank has no physical branches and is based fully online without physical branches.

Related apps

MoneyLion

The most recognizable example of mobile banking worldwide, its developers emphasized the user-friendly interface and overall comfort of using its services, despite the fact that it targets a young audience it won't be a problem to operate an app for grown-ups or even the older public. 

NuBank

NuBank is probably the most successful combination and illustration of precious cases. In fact, it provides similar features like a free account, easy-to-use design, investments, rewards for the users, etc. Its main advantage is that its number of clients it's about 40 million and the possibility to operate so many users 

Robinhood

They skipped the web platforming and started directly with a mobile app, they provided stock market options and they added a crypto assets marketplace within an app, they increased their proposition into a digital wallet feature, known as Robinhood cash card they transformed their product from the stock market into a multilocational fintech mobile app 

Video recommendations

What's a Fintech?

The term refers to the application of software and hardware to financial services and processes, making them faster, easier and more secure.

This industry includes everything from payment processing solutions to mobile banking apps.

Digital Wallets

Like Apple Pay and Google Pay, they allow people to store their payment information in a mobile app and then use that app when it comes time to pay for something. 

Blockchain in Fintech

They will greatly help with making the industry more secure and efficient because it is a public ledger capable of recording ownership.

Embedded Finance

Is the term for when a non-financial business integrates fintech tools into its point of service, like in payment processing terminals at coffee shops and buy now and pay later buttons on e-commerce store checkouts. 

Serving traditionally underserved populations

Fintech's promise is that technology makes it easier to provide financial services to people who never have had little or no access to them, Fintech companies aim to eliminate long-standing barriers so that people can more easily save, invest and build wealth for themselves. 

The future is Fintech

How do Fintechs work?

They provide traditional financial services in innovative ways through the newest advancements like machine learning, algorithms, blockchain and data science to do everything backdoor in banks processes. 

Book recommendations

The Fintech Book
Susanne Chishti

“Subtitled The Financial Technology Handbook for Investors, Entrepreneurs, and Visionaries, this is a comprehensive guide to the industry. It aims to provide information and helpful advice for bankers, fintech entrepreneurs, and investors eyeing profit opportunities in the fintech industry. 
The material included in The FINTECH Book was crowdsourced, mirroring a fintech-related economic trend. It was edited by two leading fintech authorities. Chisti is the chief executive officer of FINTECH Circle, the first angel investor network in Europe to focus on fintech. Barberis is the founder of SuperCharger, a fintech accelerator based in Hong Kong” 

The Ascent of money
Niall Ferguson

“Through Ferguson's expert lens familiar historical landmarks appear in a new and sharper financial focus. Suddenly, the civilization of the Renaissance looks very different: a boom in the market for art and architecture made possible when Italian bankers adopted Arabic mathematics. The rise of the Dutch republic is reinterpreted as the triumph of the world’s first modern bond market over insolvent Habsburg absolutism. And the origins of the French Revolution are traced back to a stock market bubble caused by a convicted Scot murderer.” 

Breaking Banks
Brett King

“Many of the products emerging from financial technology provide support services to banks and other traditional financial institutions. However, a number of fintech firms are disruptors within the financial services sector, and such companies are the subject of King’s book. 
It provides insightful interviews with and stories about fintech entrepreneurs who are at the forefront of providing financial services through nontraditional means and examines phenomena such as the rise of peer-to-peer (P2P) lending and investing robo-advisors. 
King is a recognized authority on the changing face of banking and finance, the author of several books on technological advances in banking, and in 2012 was voted American Banker’s Innovator of the Year.” 

Disclaimer: the information provided is for informational purposes only and is not intended as a recommendation or endorsement of any particular product, service, or course of action.

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