The Finance sector is a domain that has been witnessing tremendous disruption with the advent of digital technologies. From transactions, loans, mobile-based payments to fundraise, innovative digital solutions have been seen its way into the market at arapid pace. Finance being at the core of any enterprise, small or big, it’s imperative for entrepreneurs to look and adopt FinTech technologies to streamline their financial processes. Here’s a list that compiles some of the most disruptive solutions available today.
The first on the list is multi-currency digital wallets. Digital wallets, already popular for ensuring seamless, faster, and safer payments, the multi-currency feature assist consumers to reduce the hassles of currency exchanges. This allows entrepreneurs to streamline their global strategies and engage in global transactions much faster with customers. The next that needs mention is biometric security for payments. Security being the primary cause of concern in this digital era, biometric security applications such as face recognition, fingerprint recognition, and eye scanners have gained immense traction from organizations to add high-level security layers and protect their financial data from illegal attacks. The third option on the list highlights the rise of cryptocurrencies. Built on the de-centralized Blockchain Technology, transactions through cryptocurrencies allow firms the opportunity to engage in a peer-to-peer, transparent verification and encryption processes of their vast transaction data and hence greatly streamline their businesses. The technology that concludes this list is robotic applications in financial advisory and wealth management that deliver utmost efficiency, speed, and convenience to organizations in gaining competent financial advice and digitize their complex wealth management processes.
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