The convenience provided by the advancement of technology has been essential
both for the business world and for business executives and users of the
financial sector. Fintech Startups emerge as an imperative need for
immediacy in the processes of the industry mentioned above. The services
offered are robust in security and solidly supported by high technological
standards to perform them. We will address this issue below.
What are Fintech Startups?
We can summarize Fintech in 2 words, finance,
and technology. They are companies that offer financial services managed
by technological tools, with which they expand their services. Fintech
creates challenges and opportunities that seek to improve the customer
experience, uses artificial intelligence to optimize processes, make decisions,
build compelling communications, and more. Biometrics and cloud
computing technology maximize operations by offering new types of
value to the sector.
But let's define what a Startup is:
They are companies that are born with solid
technological potential and that grow exponentially. They have a great
capacity for change and adaptation to face the tremendous global
competitiveness and be at the fore in the services they offer. With a
global reach and high potential for creativity, Startups are positioned as an
excellent option for the international market. The Startup
Fintech cohere all financial services with robust technological support
next generation. This manages to place this sector among the most
requested by large companies and is quite attractive.
Some considerations about Fintech startups
In the world of entrepreneurship, startups in
the financial industry have gained greater relevance in recent
years. Currently, worldwide, there are many these companies, where 60%
were created in the last three years.
In this vein, it is known that the first Fintech
companies were born in the United Kingdom and the United States. They were
for online loans, to later emerge other modalities for financing
companies. Others arose from the need to exchange physical currencies and
crypto assets, offering an attractive model for money management.
When talking about Fintech
Startups, it refers to their significant expansion, a system that is in
constant development. Some are ideas without going to the operations
market; however, they are glimpsed with a high degree of success.
The aforementioned predicts that activity has
increased significantly, as more and more entrepreneurs recognize that there
are opportunities to help solve the problems that have arisen in the sector in
question and that they have not yet been fully banked.
Therefore, suitable measures are taken to change
and take advantage of this situation, promoting the care of the consumer and
the industry. Know the users and their assets, ensuring that they avoid or
prevent the financing of terrorism, fraud, and scams. The importance of
prevention in terms of money laundering, the origin, and provenance of
resources, among other things.
So, the internet has radically changed the lives
of human beings and also in the way of creating companies. For Eric Ries,
a Startup is a hominid institution designed to do a new product service under
conditions of extreme uncertainty. These new companies have a vital
technological component, grow exponentially with a global reach, and improve
human quality.
Characteristics of startups in the financial sector
Among its main features are:
·
the innovation
·
system robustness
·
safety
·
confidentiality
·
formality
·
confidence.
·
The efficiency and effectiveness of its use, for the ease and
benefit of not having to leave home
·
The ubiquity of information
·
internet anywhere, on any device, without barriers and with
economic advantages for your pocket.
Another characteristic of these companies is
their evolutionary capacity in the face of change and adaptation to
circumstances. In a world where everything happens so quickly, failure to
adapt is a costly and competitive disadvantage.
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