If you still need more reasons to join FinTech or at least to become one of their users, you have to check out these ways of how FinTech can positively change the world, especially Indonesia.
Technology startups that are engaged in the financial field or often referred to as FinTech is on the rise. According to a study released by Accenture, global investment in the financial technology business tripled from its original USD 928 million to USD 2.97 billion between 2008 and 2013. This figure is expected to continue to rise to USD 6 to USD 8 billion in 2018. These are the ways how FinTech can positively impact the world If you still need a good reason to use FinTech in Indonesia to have a better life, then you need to know the ways how FinTech can positively impact the world, especially in Indonesia. Below are some of them: FinTech helps develop new start-up companies At present, there have been many new startup companies that have created innovative products in the field of FinTech. Examples are Moneythor. Moneythor startup company creates new products that provide experience in the field of digital banking where the analysis is way more detailed. Companies like this usually start to grow in Singapore where the target is Asia. FinTech can improve living standards Not only to get a profit or a big income for startup companies, but the existence of FinTech also can improve the standard of living and the purchasing power of many people. For example, there are startup companies that then make innovations to present merchants where the merchant receives a payment system with debit and credit cards at a low cost. There are also startup companies that then make FinTech innovations that can build the banking infrastructure to increase the purchasing power of consumers or the public. Moreover, the existence of FinTech in Southeast Asia even has an important role in poverty alleviation efforts of up to 600 million people. Startup companies also continue to convince investors of this. FinTech can stimulate the development of bitcoin The positive impact of FinTech development is the bitcoin application in the financial world which is also developing. It is said that more than 2.5 billion bitcoin users who do not have bank accounts can still carry out various transactions such as sending money, making payments, and other transactions with no problems. FinTech can reduce the number of high-interest loans The community certainly feels quite tortured by the presence of those who claim to be helpful but give interest to each loan. The existence of FinTech then answers the demand for a more transparent money lending system and can be enjoyed by all people. They are collaborating with banks The existence of FinTech is not supposed to be a threat to conventional banks, as there is always a chance to work together. That can be a mutual collaboration as for FinTech companies; it is good to collaborate with the expertise in finance world while the banks can get a new perspective on the technology and industry. In Indonesia alone, the amount of investment in the industry of FinTech in Indonesia is getting higher and higher as the amount of FinTech investment in the world that is getting bigger. Therefore, it is possible that a new start-up company engaged in this field will get investment funds easily from investors because of the high level of profit. So, do you still need more reasons to join FinTech world? Source: https://smartcolaw.com/2018/11/15/new-regulation-of-fintech-indonesia/
7 Comments
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