2019 promises to be a year of explosion in the area of financial technology
As the name implies, Fin comes from Finance and Tech's Technology. Seen as “cool” companies, the buzz around them is increasing.
But what does a FinTech? In fact, the area FinTech visa providing financial services, normally provided by banking institutions, such as fund transfers, or payment services. Although limited in scope, FinTech have been gaining increasing market share.
Its strategy of communication it is simple… “We are not a bank”. It seems simple, but combining "Tech wave”That has been conquering Portugal (Web Summit and the like), distrust of the Banking sector, FinTech's work has been facilitated.
Revolut, a British company in the FinTech area, which provides services to at least 33 Portuguese (3 million worldwide), recently secured a bank license that allows it to have deposit accounts, make consumer credit and negotiate In the purse.
It will be interesting to analyze the evolution and adaptation that banking institutions will adopt in order to compete with these new financial market partners.
But does the expression “new is always better ” will it be able to apply in this case? With the entry into force of new legislation, 2019 promises to be a year of explosion in the area of financial technology.