2019 promises to be a boom year for financial technology
As the name suggests, Fin comes from Finance and Tech from Technology. Viewed as “cool” companies, there’s a growing buzz surrounding them.
But what exactly is a FinTech? Actually, the area FinTech vIt is intended to provide financial services typically offered by banking institutions, such as fund transfers or payment services. Although limited in scope, the FinTech have been gaining an increasingly larger market share.
Your strategy for communication It's simple… “We're not a bank.” It sounds simple, but when you combine that with the “tech wave””From the trend that has been taking Portugal by storm (Web Summit and similar events) to the mistrust surrounding the banking sector, FinTech companies have had an easier time of it.”.
Revolut, a leading British FinTech company that serves at least 33,000 Portuguese customers (3 million worldwide), recently obtained a banking license that allows it to offer deposit accounts, provide consumer credit, and trade on the stock market.
It will be interesting to see how banking institutions will evolve and adapt in order to compete with these new partners in the financial market.
But does the expression “”New is always better" Could this apply in this case? With the entry into force of new legislation, 2019 promises to be a year of explosive growth in the field of financial technology.