The Rise of Fintech

We are now entering a world where technology begins to rise and so as the way payment and investment transactions needs to be executed anytime, anywhere. Our phones will become the most powerful tool as it can now be used to control our financial decisions and our future.

Money is being printed but are they printing enough as fast as they go into the stock market and crypto? While we worry about inflation, there is also a risk of deflation. The pandemic has taken many lives and revealed the weakness within our society. The lack of savings and investments have caused major debt and losses to many people. This is where fintech companies come to make finance management convenient and easy.

The younger generations would rather get paid, see their bank accounts and invest right away. As more and more people are now encouraging everyone to invest and save, we will see a massive growth in free financial educations. People will become creative and change the way we invest. Social media will boost the flow of free financial literacy and the world economy is about to change as people become more cautious with their spending.

Money will no longer be money, but they are more like points. The more points you accumulate, the safer and better your future will be. Points that you see in your phone. Wall Street will be outnumbered by young and unpredictable investors who share a network of data amazingly fast overnight. One retail investor can share an analysis and people can share it to public forums and private chatrooms faster than the Wall Street can make collective decisions.

This is just the beginning where all the fintech companies can capitalize on the rise of new young investors. We have seen what happened in 2008 and 2020. This is the time where desperate and young investors are about to take over. When these young investors start their families, they will teach their children how to be investors. In 5-10 years, fintech companies will no longer be the same. People would less likely go to the bank and rather manage everything through their phones.

Our world is shifting to technology as people become impatient. The push towards electrification is moving fast and it is only a matter of time until we see fintech to be in an incredibly competitive space. Communications and transactions will move closer to real time.

I am expecting to see some disruptions in money transfers, crypto purchasing, investing, peer-to-peer loans and transactions, international transactions, digital tokens, payment systems and a probability of blockchain integrations. Eventually, all these types of services will be available in one app but there will at least be top 3 with different advantages. Costumer service will be the biggest asset. When it comes to needing support, which company will provide you the needed assistance as fast as possible?