Share On

Financial technology, also known as FinTech, is the new technology replacing the traditional financial methods in delivering financial services. With technology, the general public has more access to financial services. The utilization of smartphones in mobile banking and investing are good examples.

Financial Technology Companies are inclusive of start-ups and established financial and technology companies. The term FinTech can be better understood as the new financial industry that employs technology to develop financial activities. The term refers to the business models or products, new applications, processes and products in the financial services industry.

 Impact of Financial Technology

Insurance, trading and risk management are automated with Financial Technology. Services are provided by various independent service providers and one licensed bank or insurer. Open APIs facilitate the interconnection and regulations such as the European Payment Services Directive provide the support. Finance is a sector that is prone to disruption by software since it is based on information and not physical goods. In financial systems, block chains have the capacity to decrease the transaction costs.

Problems faced by FinTech Companies

Fin Tech companies always fall under the suspicious eye of financial regulators. Sensitive information such as the consumer and corporate financial data calls for fortification against threats of hacking, thus data security is another matter that draws the attention of financial regulators. With the advent of the cloud technology, global FinTech companies are meeting the stringent compliance regulations with cloud solutions. In addition to this, the finance industry is vulnerable to the distributed denial of service extortion attacks.


Building the Bridge Between Finance and Operations for More Effective Enterprise Project Planning

White Paper By: Platinum DB Consulting

Corporations across the full spectrum of industries have been planning and executing projects since their founding. Across the passage of time methodologies and processes mature, tools are introduced and enhanced, knowledge is acquired and shared, practices (both good and bad) become ingrained into the corporate culture. For many of these businesses anything greater than a minor change to the...

Transaction Reporting – what’s changing?

White Paper By: AutoRek

Transaction Reporting is one of the key priorities for regulators. Some are already warning that there will be no latitude for non-compliance, including late reporting. The aim of Transaction Reporting is to assist EU regulators in the detection and investigation of suspected market abuse. By implementing a robust, automated financial control regime, investments firms will ensure readiness...

MiFID II / MiFIR Transaction Reporting: A Practical Guide

White Paper By: Duco

One of the main criticisms of the original MiFID was that national regulators did not enforce the directive with the same zeal across Europe. The list of financial instruments covered has been extended to almost all instruments traded in European markets – with particular emphasis on the OTC derivatives market that was previously out of scope for MiFID I. The issue with making this...

MiFID II data reconciliation: A practical guide

White Paper By: Duco

Data risk is an increasing challenge in the financial industry, for the innumerable processes that need to be taken care, before reporting the data to the regulators. It is extremely important to stay complaint and maintain data quality for Markets in Financial Instruments Directive II (MIFID II) during data reconciliation. Duco Cube with its powerful and flexible reconciliation platform...

5 Ways Electronic Invoicing Helps Businesses Get Paid Faster

White Paper By: Basware

Electronic invoicing delivers efficiencies across the accounts receivable cycle: invoice creation, invoice delivery, dispute management, posting, and reporting and analytics. Most impor­tantly, reducing Days Sales Outstanding (DSO) with electronic invoicing enables businesses to reinvest more quickly to drive company growth. This white paper details the inefficiencies of...

Are You A Full-Stack CFO?

White Paper By: Mineraltree

The most basic definition, of Chief Financial Officer (CFO) is “the senior manager responsible for overseeing the financial activities of an entire company.” But, this definition is actually quite narrow. A tech savvy (full stack) CFO uses technology to drive innovation across the four faces (steward, operator, strategist, and catalyst) to lead the charge in improving efficiency,...

follow on linkedin follow on twitter follow on facebook 2018 All Rights Reserved | by: