The Rise of Fintech: Harnessing Technology to Revolutionize Finance

Portmanteau for Financial Technology, “Fintech” covers the competition between traditional financial methods in the delivery of financial services and emerging information technology industry that makes use of techniques to improve activities in finance.

While problems and opportunities go hand in hand, simultaneously needs and wants to go parallel, which accentuates the necessity to note the distinction between the two; to avoid the urge to splurge!

Usually, the financial plans must be reviewed on a regular basis, once or twice a year.

Technologies That Will Disrupt Financial Scenario in Coming Years

These technologies will help you overcome the investing inertia and make every idle penny count:

Everyday Banking (Mobile): Even after endless years of resolution to manage our finances we allow our idle funds to lie in savings accounts, idle and unutilized.

According to the new market research report by IndustryARC titled “FinTech Market: By Technology (Application Program Interface, Artificial intelligence and Block chain); By Type of transaction (Digital transaction, business finance and personal finance); By Sector (Lenders, payments, wealth management, financial institutions, insurance and others) & By Geography - Forecast(2018 - 2023),” the market will be driven by opportunity to expand products and services in financial institutions with strong focus on data analytics and mobile technology.North America Dominates Major Share in FinTech Market:North America is the leading holder of shares in FinTech market analysis.

Silicon Valley in New York and London are the leading world in FinTech Locations for the year of 2017.To access the full report, click the link below:https://industryarc.com/Report/18381/fintech-market.htmlSelected Solution Analysis Done in the FinTech Market Report:The market is segmented into technology, transaction type and sector.The report analysis on sector segment states that, utilization of technology in business processes is helping to enhance its performance.

Selected Driving Factors Mentioned in the Full Report:• High compatibility with financial services ecosystems and rising crypto currencies market will cap faster transactions and expected to boost the growth in FinTech market.• Demand in distributed ledger technology, has reduced the total cost of ownership, transparency and immutability, and faster transactions would fuel the market growth.Key Players of the FinTech Market:Accenture, IBM, Microsoft, Oracle, Red Hat and SAP are the major players in the FinTechMarket.

Accenture is known for its platform likes Blocko, CoverGo, FutureFlow, Sherlock Garden and others are utilised under blockchain infrastructure, insurance, and financial crimes.

FinTech Market By Geography (16+ countries)Related Reports:A.

Bitcoin Payment Ecosystem Markethttps://industryarc.com/Report/46/global-bitcoin-payments-ecosystem-market-analysis.htmlWhat can you expect from the report?The FinTech Market Report is prepared with the main agenda to cover the following 20 points:1.

‘Finance’ and ‘Technology these two keywords led to the rise of fintech software development.

Technology has transformed the way we do everything – from shopping to networking, and from hospitality to education.

Now it has taken charge of the financial services.

It is appealing to them since they grew up with mobile, and would love to handle their financial habits through the same device.

As per the IDC, a market research firm, the millennial considers the financial services as yet another consumer product.

But this is not the only alone reason, that is keeping the financial market look for a new future ahead. There is much more.

This article is for all those who want to revolutionize the education sector through technology.  

Increase in mobile applications across the globe and rise in the need to track & manage income of consumers drive the global personal finance software market.

However, security and compliance issues in personal finance software and availability of open-source finance software hinder the market growth.

On the contrary, rapid adoption of personal finance software across the developing countries is expected to create lucrative opportunities for the market players in the coming years.The global personal finance software market was pegged at $1.02 billion in 2019, and is expected to reach $1.57 billion by 2027, growing at a CAGR of 5.7% from 2020 to 2027.Covid-19 scenario:During such uncertain times, there is a significant increase in demand for personal finance software to manage bank accounts, investments, expenditure, and credit cards on a personal computer and smartphone.However, the spike in unemployment across the globe have negatively affected the market.The global personal finance software market is divided on the basis of product type, end user, and geography.

Based on product type, the market is segmented into web-based software and mobile-based software.

The web-based software segment held the largest share in 2019, accounting for more than half of the market.

However, the mobile-based software segment is expected to manifest the highest CAGR of 6.4% during the forecast period.Read Full News: https://www.alliedmarketresearch.com/personal-finance-software-market On the basis of end user, the market is classified into small business and individual.