How has this emergence of fintech transformed, or should it transform, the way we do business in the financial sector?
These Fintech trends are due to the fact that for traditional banking users, digital financial services are:
More accessible and faster: Although it's necessary to go through the office 365 database same processes and submit the same documents for loans and other services, for users, using apps and digital cards is much simpler and more immediate. There's no need for travel or waiting times.
Less intimidating: The experience of using apps is one of the most satisfying and versatile Fintech trends for customers due to the feeling of lightness they give to their services and the way they manage to overcome the lack of human contact with continuous, clear, and warm feedback.
More secure: Contrary to the idea of universal tools for traditional financial services (cash and plastic), fintechs allow services and transactions that take place solely in the digital realm. This provides greater security for their users.
More inclusive: Fintech companies in Mexico have created a phenomenon called neobanks . These are financial institutions that exist only in the cloud, although they offer the full range of services offered by banks. This is due to their technological expertise and a philosophy that separates them from the traditional notion of financial services.