Editors review(“Fintech is giving the choice to enable access to useful financial products such as credit to communities, individuals or businesses.)
The excitement around fintech is not without merit. Fintechs are innovating at every step of the financial services value chain, often through new value propositions, including flexible products and better ways to address the financial challenges faced by low-income customers. They are making financial services more affordable and accessible.
They are improving the customer experience of financial services and accelerating use and engagement.
They are also building the groundwork, including easier digital identity verification, collaborative customer due diligence, data sharing, and payment schemes, that can catalyze a host of financial services
Over the past decade, increased adoption of financial technology has shown over and over that if well channeled, it has the unique capability to extend financial inclusion, simplify life and spur growth.
Consequently, this would go a long way in transforming millions of lives and most importantly, bring the world closer together to enable seamless business transactions.
The digital revolution has allowed us to take banking from way beyond the bricks and mortar branches and way beyond the rich or capable right into the palms of customers from all walks of life, enhancing financial inclusion.
“Fintech is giving the choice to enable access to useful financial products such as credit to communities, individuals or businesses.
There are some communities that are disenfranchised from mainstream financial services for one reason or the other, either because of the level of income they are making or because of their geographical location.