Fintech: Why They Are Pioneers In Digital Transformation Of Companies
The winds of change of the digital world are drastically reshaping the behavior and expectations of customers when they buy and pay products. Also, traditional banks face a new competition of new and unexpected tools.
Emerging companies of financial technology or fintech, are using software and new technologies to participate in almost all the stages of the value chain of financial services, including payments, loans, business financing, collections and currency exchange.
These organizations create new structures to satisfy the explicit needs of millions of organizations, and as they focus on technology, they provide solutions for the most critical elements of a digital strategy. See what the most important digital solutions are for your business model in the following article.
Fintech: Financial Solutions for Everyone
With digital transformations, companies leaders must shape the growth vision of organizations, and that is where fintech acts as a technological support arm that help achieve results.
It is not new that traditional banking cultures are often inflexible and isolated from business needs. Financial solutions developed by fintech are customer-centered and constantly innovate based on their knowledge.
Jeff Bezos always reminds us that even in digital markets the customer and his satisfaction are the most important aspects within an operating process.
By aligning user experience, the company vision and the solutions provided by fintech, the technological integration of payments and collection of large companies leaders has been successful.
What Services Do Fintechs Offer?
Among the most popular services Fintech offer to their users, we find payment gateways and electronic commerce, which, due to the pandemics, have a higher requirement: being able to keep the economy flow working with online methods.
Not only is commerce one of the assets of these companies, but they also enable customers, as traditional banks do, to make local and international transfers providing financial solutions through loans in blockchain, that is to say, access, acquisition or exchange of cryptocurrency.
Besides, in the last years, the methods to foster financing of new products and businesses through crowdfunding have become common for entrepreneurs. This basically combines what we knew as “patronage” with involving people to collaboratively fund any creative or productive idea.
How to Ride the Fintech Wave?
One of the challenges faced by large companies centered on their user is to facilitate payment methods and increase the consumption of the good or service they sell.
Adapting payment methods to consumption habits, while focusing on user experience, is a way of creating new strategies to get revenues and at the same time streamlining current marketing processes.
The automatic generation of payment links and buttonsduring the purchase process are the tools fintech provide to speed up the payment process of your final user in order to avoid he decides not to buy.
Another important reason to develop an integration with a company of financial technology is the access they give you to asignificant number of people with no access to banking services.
This is not due to a lack of confidence in banks, but a lack of possibilities to have access to them, and, in this regard, the simplicity a fintech company offers is its main asset.
In the entire Latin American region, the number of people without access to banking services is around 40%.
In accordance with some studies, even when the increase of digital financial solutions peaked with the onset of the pandemics, the number of persons who does not have access to banking services is still alarming.
Consumers without access to banking services look for brands that facilitate their main goal, which is to have access to certain goods or services, both physically and online, paying with cash in a fast and secure manner.
PAGO46is a fintech option that has understood company needs in order to make their market grow through online payment buttons and cash payments.
With its advanced technology and a wide network in all Latin America, your customers will be able to pay from any place 24/7.
Join your business and discover all the benefits that P46 can give to your company, streamlining all collection and payment processes, reducing operating costs, and thus increasing your business revenues.
Conclusion
Fintech industry is far from being inaccessible for companies who have not implemented technological solutions.
Digital commerce is in everything we use, from the food we order using an app to streaming platforms that entertain us.
Implementing the solutions that fintech give us has multiple advantages, but above all they place us on the ideal financial situation, without tedious paperwork, and with real-time information and outcomes.