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Expert Farnoush Farsiar explains what Fintech is and how it is transforming the way we finance our business.

Thanks to the technological advances in personal and commercial finances Financial technology has experienced an exponential increase in its growth.
Farnoush Farsiar is a well-known businesswoman with a long-standing financial and wealth management profession. Farsiar will discuss how people as well as businesses can leverage Fintech to benefit.

Farnoush Farsiar explains what is Financial Technology (Fintech), is.
Fintech is a term that is used to describe financial technology companies. These companies provide various services, including payment processing, lending, banking, investment management, etc.

Some of these firms have become known names. https://eutoday.net/news/business-economy/2019/how-wealth-management-firms-can-prepare-for-turbulent-times Others may not be as well-known to you.

Financial services are becoming automated by integrating technology to improve the provision of and the use of financial services. Fintech aids businesses, consumers as well as business owners to enhance their financial processes and operations at its core.

An increasing number of software, algorithms and apps allow rapid and efficient financial services on computers and smartphones.

Fintech uses technology that is back-end to offer consumers-oriented services continuously and desireably. Farnoush Farsiar says the platform can be used to deposit checks and pay bills, transfer funds and create applications for financial aid.

Rural consumers are also underserved as they are not provided with the necessary financial services and products that can streamline their operations. This is in contrast to the expensive traditional financial products and services.

Fintech has emerged to fill the gaps in these areas with unchained solutions that can be used to offer quick loans, flexible saving, investments, and affordable payment options.

This has led to numerous innovations within the financial sector. The new developments are the ideal formula to be able to succeed in the current financial market.

Fintech platforms also permit complicated financial concepts, such as crypto trading to be made feasible through the platform.

peer-to peer lending that consolidates partnerships and collaboration.

What are the Examples of Fintech?
Farnoush Farsiar believes Fintech is extensively used to enhance the efficiency of business operations and processes. The apps are growing to let consumers transact and make investments and reduce expenses by being more flexible and democratic.

Here are a few examples:

Robo-Advisors
Robo-advisors are generally lower-cost investments that can be accessible by everyone and can automate the investment of your money. https://www.businessfast.co.uk/farnoush-farsiar-explains-why-queen-elizabeth-is-an-excellent-example-of-female-leadership/ These platforms employ specialized algorithms to automate financial services through digital-based inputs, thus reducing human intervention.

Therefore, Robo-advisors help you build a diversified portfolio with a cost-effective method to help you manage your company's financial health.

Investment Apps
Investment apps help you buy and selling shares as well as ETFs, crypto and other ETFs via your mobile phone with an uncomplicated or low-cost commission. The most well-known investment apps are stockpile, wealthbase, wealthfront and acorns, as well as betterment and invstr. Farnoush Farsiar.

Payment Apps
These applications allow users to transfer funds seamlessly from their accounts locally and internationally. Farnoush Farsiar Payment applications comprise Venmo, PayPal, Zelle, Cashapp, and Block (square).

Personal Financial Apps
Personal financial apps typically combine your financial accounts together to keep track of expenditures and establish budgets. These applications include Mint, Goodbudget, YNAB, PocketGuard, Honeydue, EveryDolllar and Quicken SimpliFi.

P2P Lending Platforms
P2P platform allows small business owners to get direct loans from microloans companies. The platforms comprise Prosper as well as Lending Club.

Banking as a Service (BaaS).
Farnoush Farsiar FinTechs might offer products or services to banks using Banking–as–a-Service. FinTechs offer BaaS platforms bank licenses, banking licenses as well as regulatory expertise, payment, debit cards, fraud management and other services to financial institutions.

Banking via Mobile Devices
As people shift toward financial wellness, banks institutions are expanding their operations or adopting the capabilities of mobile banking. Mobile banking is currently provided by the majority of banks.

Farnoush Farsiar Mobile Payments
Mobile apps will soon be the preferred method of payment for anyone less than 30. Peer-to-peer payment services like Venmo have been replacing traditional payment methods in the digital age. Worldwide, mobile point of sale transactions have already crossed $5.4 trillion.

Crypto Apps
You can store and exchange cryptocurrencies like Ethereum and Bitcoin as well as digital tokens such Non-Fungible Tokens. These apps can be used to pay for payments, as well as exchanges and wallets.

InsurTech
InsurTech is an application that helps to improve the insurance industry's digital landscape. Digital devices, such as will check your driving habits and alter your auto insurance rates. In addition, they provide tactile feedback.

Farnoush Farsiar Farnoush Farsiar shares his insights on how Fintech affects the Finance Industry
Fintech's rapid growth is causing tension that is constantly changing the landscape of the financial sector. Fintech gives finance stakeholders an opportunity for challenge, competition as well as motivation to enhance customer experience.

But Farnoush Farsiar believes the competition is healthy, making everyone be aware of developments and stay on top of them. Fintech has the potential to aid financial inclusion even when institutional and government support isn't sufficient.

Additionally, Fintech aids in accelerating processes that used to take weeks and months to complete. Because Fintech works through zeros and ones, rather than human opinions, it can simplify clunky conventional processes.

Fintech platforms could include components of brokers/ advisors and algorithms that can speed up the process of complex tasks, but without the need to work directly with humans.

Like traditional financial companies, aims to remain agile, fast and efficiency, which has helped them to manage their operations with greater flexibility. Fintech is always looking for new opportunities and spaces for reorganizing organizations' functional layouts.

Farsiar is also adamant that the competition in Fintech is growing and presents many unexplored opportunities. It is possible to offer incentives to a wider population using technological advancements in financial technology, flexible policy on money and the requirements of your clients.

Fintech stimulates innovation and opens up new networks of agents and apps that enable bill payment and transfer of money. Thus, customers will benefit from the adoption of the latest technology in finance (Fintech).

Fintech is going to revolutionize the Finance Industry
The world of financial technology is continually evolving and growing. New opportunities and applications are being discovered every day. Technology in finance is an exciting avenue for professionals in finance. Farnoush Farsiar Farnoush Farsiar the founder of Farnoush Farsiar highlights this.

Numerous organizations are restructuring their traditional operations by adopting new financial technologies to aid customers, colleagues and customers effectively. Fintech is a vital instrument for integrating the society with a financial force that will grow in the coming years.
Website: https://docs.house.gov/meetings/FA/FA14/20190626/109716/HHRG-116-FA14-Wstate-BromundT-20190626.pdf