Financial Technology--the digital revolution
Welcome to my blog! This blog will help you understand what FinTech is and how it has the potential to revolutionise the world. FinTech has already become an integral part of our lives through various innovations that have already changed the lives of millions of humans. The marvels of FinTech have already restructured various industries such as banking and investment. This blog aims at clarifying the complexities of FinTech and elucidating the ways FinTech can change the world.
Financial technology may seem quite perplexing, however at its roots, it boils down to the union between the Financial world and the Technological world. It exists all around us in this day and age; from Stock Exchange to Cryptocurrencies, the world of FinTech is exponentially growing around us, incorporating itself into every aspect of life. I think the best way to explain the world of FinTech would be by the example of credit cards, which have become a major method of transaction in the twenty-first century.
Credit cards incorporate the financial aspect of monetary transactions between consumer and seller with the technological advancement of microchips and magnetic strips. These credit cards not only allow consumers to purchase goods and services without the hassle of carrying a bulky wallet filled with banknotes but also are one of the marvels of the FinTech world.
Like I mentioned before, FinTech is all around us and it is expanding at a rapid rate. As you may have heard many people say that the future lies in the advancement of technology, I strongly believe that FinTech will help every single industry become adept with the changing technological world. The industry of Financial Technology relies on both the need for the management of finance as well as our growing dependence on technology to create a common ground upon which the world's economy can thrive.