What is FinTech and why should you care?
by Startacus Admin
What is FinTech and why should you care?
Sadly not technological innovations specifically designed for marine vertebrates…
No, FinTech, is yet another little ‘hashtag’ style linguistic contraction to have come about alongside the digital business / startup age.
Quite simply it means ‘Financial Technology’, but because of the incredible explosion of technological innovations associated with money and financial services, this simple term has come to take on a significance which few could have ever imagined.
Yes, the business, banking, technology, investment and startup worlds are all abuzz with one inconspicuous little word ‘FinTech’.
If your business / startup / area of intrigue is not specifically embedded in finance and its related technologies, then the ‘FinTech’ craze is probably passing you by. And why not?
Surely such things are of no concern to yours?
Quite wrong. Here’s Why.
From the CEO of a major international bank, to the greengrocer down the road, FinTech is important, and in the coming years will likely have a major impact on the way we run our businesses on both a day-to-day, and long term basis.
We recently attended a FinTech conference in Belfast, during which Michael Dooijes, Head of innovations at Rabobank rather boldly asserted that certain new FinTech startups, could have the power to take on the dominance of the traditional banking sector.
Strong words, but ones that are well within the realm of possibility given that the technologies associated with financial services and banking are developing at a faster and more radical rate than perhaps at any time in history; certainly since the introduction of paper currency in the 13th Century.
What’s interesting for you lot, as startups and SMEs is the possible benefits that all of these financial innovations and technological developments might hold.
Specifically some of the most radical alterations seen in recent years has been regarding how we both buy and sell goods and services; on the whole the process has become much more immediate, intuitive, flexible, and accessible. But also the way in which startups and small businesses access finance has altered to a remarkable extent in the past few years with FinTech solutions creating a wide range of alternative finance options!
Benefits and Risks
Crucially, as these FinTech innovations come along, they bring with them a whole range of revenue boosting and time saving opportunities for businesses, but with that comes the risk that if you don't manage to stay as close to the cutting edge as possible, you are in danger of slumping behind your more trend savvy competitors.
A great many businesses will live and die by the way that they adapt to and exploit these new technologies, with those failing to evolve and adapt, eventually finding themselves at the thin end of a very large wedge.
Too stay up to date with all of the latest FinTech news, we suggest you keep an eye on these platforms, and resources.
Business Insider , Tech Crunch , FinTech Financial News, Forbes , Financial Times , & The Guardian Business News
If you like to keep on top of all the latest technology / business jargon, you might like to take a look at some of these recent posts;
What is MadTech?
A / B Testing Explained.
25 Startup Terms You Need to Understand.
Subscribe to our newsletter
If you would like to receive our startup themed newsletter, full of the latest startup opportunities, events, news, stories, tips and advice, then sign up here.
Prodsight is a B2B Software-as-a-Service startup that helps companies increase the success of their products and their customer service
Oval and Seedrs have built the technology enabling the first in-app investment experience for fintech users to be able to invest in startups
The UK’s first algorithm based flatmate matchmaker, Ideal Flatmate closes its latest funding round with total Seed funding now passing £2m
Major investment news for Perlego, the London-based startup that is on a mission to make education material accessible for all
A short guide to hiring the best service providers for your organisation so that you don’t waste your time and money.
The London based startup Grocemania, that's created an on-demand grocery service that lets you shop online from your local stores
The lowdown on Noisy Book, the app that will let you turn your children's books and imaginations into an immersive, magical experience
The London startup Show4me, that has created a global interaction network aimed at Music industry professionals and fans alike
.jpeg)
These tips for startups And entrepreneurs could transform your video output and have a dramatic impact on your marketing results.
Technology and ecommerce in particular has already had a profound impact on the fashion industry. Ken Price, Co Founder, Blake Mill explains how.
Published on: 29th July 2015
.png)
If you would like to enable commenting via your Startacus account, please enable Disqus functionality in your Account Settings.
- London-based startup Perlego raises £7 million 19th Nov 2019 Major investment news for Perlego, the London-based startup that is on a mission to make education material accessible for all
- Investment announced in Aisha, the award-winning halal baby food manufacturer 13th Nov 2019 Aisha secures seven-figure investment from the Foresight Group to help its marketing, development and international expansion plans
- Construction tech startup ShapeDo secures investment from VC firm Goldacre 13th Nov 2019 ShapeDo from the 2018/2019 RELab cohort has secured investment from Goldacre in its innovative construction project management software
- Culture Amp launch Diversity and Inclusion Starter Kit to bring best practices to UK businesses 8th Nov 2019 The latest ways in which leading people and culture platform Culture Amp aim to help organisations manage their diversity and inclusion practices and policies
